LINK


IBD note: You can exchange 20K TY points for $200 in gift cards (see here)
You net bonus after subtracting $75 annual fee will be $125. It was reported elsewhere on the Internet that one may avoid the annual fee by switching to a regular non-Elite PremierPass credit card within 45 days. I do not know how valid such reports are.



Terms:


Cardholders will also receive 20,000 bonus points after $600 in purchases is made within three months of account opening.


Bonus points can only be earned by new Citi PremierPass® Card & Citi PremierPass® Card - Elite Level cardmembers approved through this offer. All points become available for redemption when they are transferred from your Card Account to your ThankYou Member Account, which may take 1 to 2 billing cycles.