Update 4/11/23: Citi has made some changes to the rules, Citi family cards now have a 48 month clock similar to the American Airline cards.
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Citi has a rule that once you get the signup bonus on a credit card, you can’t get it again within 24 or 48 months. The language of the rule differs by card. We often get questions in the comments section from people trying to understand the nuances of this rule so I thought I’d explain it here as clearly as possible on each card separately.
Let’s separate this into three groups as each has their own rules and nuances:
- the Rewards+, Premier, Prestige, and Preferred family of ThankYou cards
- the American Airlines and Custom Cash cards
- the Double Cash card
Premier, Preferred, Prestige, Rewards+
Here’s an example of the rule as it shows on ThankYou cards:
Bonus ThankYou® Points are not available if you have received a new account bonus for a Citi Premier account in the past 48 months.
This is now the same as the American Airline cards below.
There are three parts to the rule:
Basic rule: Citi has a rule that if you were approved and received a bonus on a new credit card, you won’t be able to get a signup bonus on the same card (or card family, see below) if you apply within 24-months of when you received the first signup bonus.Card grouping: Citi groups all cards within one ‘family’ as if they are one card. For example, the ThankYou Prestige, Premier, Preferred, and Rewards+ are considered as one card. If you got a bonus on the Preferred card, you won’t be able to get the bonus on the Prestige if you apply within 24-months from when you received the Preferred bonus.Card ‘close’ rule: Citi resets the 24-month clock when you close a previous card. That’s aside from the 24-month clock that begins when you get a bonus. If it’s been 24-months since you last got a bonus you can readily get the bonus again. BUT if you now close the card before applying for a new one, you start over the clock and have to wait 24-months from account closure before getting another bonus. Just accept this as a fact of Citi life. This account closure clause is what most often confuses people.
(The Rewards+ card is now part of the Preferred, Premier, and Prestige family of cards entirely.)
American Airlines, Custom Cash
The American Airlines and Custom Cash cards have a similar rule to the ThankYou cards, but with a longer 48-month qualifier.
American Airlines AAdvantage® bonus miles are not available if you have received a new account bonus for a Citi® / AAdvantage® Platinum Select® account in the past 48 months.
- You can only get a bonus if you have not received a bonus on this card in the past 48 months.
- Each American Airlines card runs on its own. They don’t lump all American Airlines cards together.
- American Airlines and Custom Cash cards don’t have the account closure clause. Only getting a new account bonus resets the clock, closing the card does not reset the clock.
Double Cash
The Double Cash card occasionally has a signup bonus. I don’t see any limiting language on the Double Cash card so you should be able to get the bonus whenever you apply.
Q&A
Card Doubles
1) If I got a card bonus in July 2017, can I apply for the same card in August 2021 while the first card is still open and get the bonus?
Yes, since you haven’t received a bonus or closed a card within 48 months you are eligible for the bonus. (Again, in the case of ThankYou cards, 24 months is enough.) As long as you get approved for the card, you should get the bonus when meeting the requirements.
Note, there’s no guarantee Citi will approve someone for a second card of the same version as the one they currently have. Many people have had success holding multiples of the same card, especially with AA cards, but this might change and it might not be true for all Citi cards. The Citi Custom Cash explicitly states that they do not approve a customer for more than one Custom Cash card.
Card doubles (business)
2) Is that true for Citi business cards as well – can I have two of the same card, concurrently?
No, the terms indicate that a single business can’t hold two of the same card, and Flyertalk confirms the same. You’ll have to close the card, wait 24/48 months from close, then apply again to get a second bonus.
Again, for American Airlines cards there is no account closure clause so you can open a new one right away, provided it’s been 48 months from when you received the prior bonus.
(Note, Citi seems to combine all businesses of the same person/loyalty account into one. If you open under one business, you’ll need to wait 48 months from bonus posting to open for another business.)
Workaround
3) Is there any way around the 24/48 month rule?
You might occasionally bump into a targeted offer or pre-qualified offer which doesn’t have the 24/48 month verbiage. If you do, go for it!
Downgrades/Product-Change
4) What happens if I downgrade or product change a Citi card? Does that reset the clock as if you closed it?
Good question and a very important one. I tried to clarify this issue with Citi but haven’t had success. You can see this post for a discussion on this topic.
Frequentmiler puts forth the theory that product-changes within the same brand might not reset the clock, only product-changes outside the family cause a reset.
TPG heard from Citi that downgrades do not reset the clock provided it keeps the same card number. (Read more in this post about which cards get new numbers and which ones keep the same.)
We do have one data point which indicates that even when a product-change results in a new number it will not reset the clock. This is contrary to the TPG report. We don’t have any data points on downgrades, only on a product change. Another data point suggests the reverse. My guess is that within the same card family (e.g. Prestige to Preferred) is more likely not to be considered a reset.
As noted above, with regards to the American Airlines and Custom Cash cards this question of product changes is moot since there is no account closure limitation in the terms.
Didn’t receive bonus
5) What happens if you open or close a card but never got the signup bonus (e.g. didn’t meet the minimum spend requirement)?
Based on the current terms of most Citi cards, it seems that only receiving a bonus impedes you from getting a future bonus. If you opened a card and did not receive a bonus you should still be eligible. (More discussion in this post.)
Business cards
6) Does the 24/48 month rule apply to Citi business cards?
Yes, but business cards are considered separately and don’t combine with personal cards. If you get a Citi personal ThankYou card you can still get the bonus on a ThankYou business card within 24-months and vice versa.
Calculating the date
7) How do we calculate the exact date of a new card?
All Citi cards now seem to run based on the date the bonus was received, not the date of card approval.
Examples
Scenario 1 (two similar examples)
- I open a Citi ThankYou Premier card in March 2017. It’s now April 2019 and I still have the card. I can now apply for another ThankYou card and get the bonus. I can apply either for the Prestige or Preferred card. I can even apply for a second Premier card, and if approved I’ll get the bonus. (But there’s no guarantee Citi will like approving someone for duplicates of the same card, as discussed above.)
- I open a Citi ThankYou Premier card in March 2017. It’s now April 2019 and I close the card. You now have to wait 24 months before applying for a new Premier, Prestige, Preferred card and getting a bonus.
- I open a Citi ThankYou Premier card in March 2020. I can immediately open a Rewards+ card or a ThankYou business card and get the bonus.
- I open a new Citi ThankYou Rewards+ card in March 2020. I need to wait until April 2022 to open a Premier or Prestige or Preferred card and get a bonus.
- I open a Citi AA Platinum card in March 2017. I can apply immediately or any time I’d like for the AA Gold card or Executive card and get the bonus since it’s not the exact same card.
- I was approved for a Citi AA Platinum card in March 2017. It’s now April 2021 and I still have the card. I can apply for the AA Platinum card, and – if approved – I’m eligible for the bonus.
Best Application Practices
Given that the 24-month rule resets when closing a card, the best way to maximize Citi bonuses is by trying to time your card closures along with an application. For example, if you last got a bonus on the Premier card in August 2015, keep it open until August 2017 and apply for the Prestige card. After being approved for Prestige, close out the Premier card to save the annual fee. (You can probably close right away, though it might be worth waiting until the bonus posts on the new card, if possible.)
See Strategies For Dealing With Citi’s New Application Rule for more info, and see 17 Things to Know about Citi Credit Cards for general info on applying for Citi cards.
Aside from Citi’s rule for giving signup bonuses, they also have rules as to how many cards you can signup for total (8/65 rule), irrespective on the bonus. We discuss that rule in detail in a separate post.
Source: doctorofcredit.com