Citi is currently offering 50,000 bonus ThankYou points on its ThankYou Premier Card. While it has offered this in the past, this particular deal is better than ever because the annual fee of $125 will be waived for the first year.

Under this offer, you’ll receive 50,000 bonus ThankYou points after making $2,500 in purchases within the first 3 months. 50,000 bonus points is enough to redeem for $500 in gift cards, or even more when you redeem for travel. One of the features of the Citi ThankYou Premier Card is that you’ll be eligible for a 25% discount on flights when you redeem your points through Citi’s ThankYou Travel Center, meaning that your 50,000 points can be used for $665 towards travel.

While their point systems are quite different, this new offer from Citi is now quite competitive with Chase’s Sapphire Preferred 50,000 point deal. Both are targeted towards the same upscale, traveling demographic.

For more details or to apply for the Citi ThankYou Premier card, see this link:

Citi ThankYou^SM Premier Card – $500 in Gift Cards

Update 2/3: The 50,000 bonus point offer has now expired. To see the current Citi ThankYou Premier offer, see this link.