Citibank is introducing the Citi ThankYou Premier Card with a large signup bonus upfront: 20,000 ThankYou points after you spend $1,000 within the first 3 months. That’s enough points to redeem for $200 in gift cards or other rewards.

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 waived for the first year.

Update 5/15: The original intro offer has expired. For more details on the current deal, see the Citi ThankYou Premier Card application.