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Average Spend on Citi Premier (from issuer)
I'm not sure if this is totally true, but the numbers seem reasonable to me.
Citi sent me an email stating these facts about Premier spending across all cardmembers Averages Yearly spend: $18400 Yearly pts earn: 33,540 Average TYP awarded for spend: 1.8 TYP Travel and other 3x categories like gas are about 20% of spend. Again, I'm not sure if they are telling the truth in the mail (or are even required to) but the numbers seem reasonable. I've always felt its a good all around card. I think they sent me the email to encourage me to use it more. Maybe they can look at my credit report and see that other cards/issuers are getting swiped more (if proxied by month end balances). Did anyone else get this email? |
I received the same email. Even if Citi excluded dormant accounts, it seems odd that any issuer would publish this information. Perhaps they have already used this data in an investor presentation and decided to adapt it for marketing purposes.
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I do remember looking at some Investor Day materials where they mentioned average spend, and balance carrying percentages.
I remember that 40% of Double Cash accounts carry interest bearing balances, while only 10% of Prestige accounts do. Makes Prestige look more sort of like a charge card. Perhaps when they were designing the offering they got some of the assumptions wrong (projecting more balances on their top end cards) which is why its been the constant drib/drab of benny cuts on Prestige. Amex has mostly learned to live without the benefits of collecting interest, although they are certainly trying to change that over the years. |
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