Note: As of 8/15/11, this 50,000 bonus ThankYou points offer has expired. To see the current Citi ThankYou deals, see the following links:

• Citi ThankYou Preferred Rewards Card
• Citi ThankYou Premier Rewards Card

Citi has just launched a brand new limited-time offer: you’ll earn 50,000 bonus ThankYou points for spending $2,000 in the first 3 months of opening a new Citi ThankYou Premier Card account. This signup bonus is enough for $665 worth of airfare when you redeem your points through the ThankYou Travel Center. Alternatively, you could exchange your 50,000 points for $500 in gift cards or other rewards.

You’ll also earn 1.2 points per $1 when you use the card at gas stations, supermarkets, drugstores, and at commuter transportation and parking merchants. Everywhere else, you’ll earn 1 point per $1 spent.

In addition, some of the card’s other benefits include:

• No foreign exchange fees
• Earn points for the miles you fly when you purchase a ticket with your Citi ThankYou Premier Card.
• Earn an anniversary bonus based on the number of points earned from purchases every year. The longer you remain a cardholder, the larger your bonus percentage will be.
• Receive a complimentary domestic companion ticket each year

The Premier Card does carry a $125 annual fee which is not waived for the first year under this offer. The annual fee is permanently waived, however, if you are a CitiGold customer. For this reason alone, the current Chase Sapphire deal is the better value at this time for non-CitiGold customers if you were only going to apply for a single card. Nevertheless, this 50,000 bonus ThankYou points promo is still an attractive option.

Note 8/15: This promo has now expired. For the latest Citi ThankYou deals, see the following links:

• Citi ThankYou Preferred Rewards Card
• Citi ThankYou Premier Rewards Card