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What are card issuers quietly sneaking in to devalue key card benefits without clearly informing their customers ahead of time? (See: Recent Rent Day Depreciation of Built.)

has been reported by Frequent MillerThe Citi® / AAdvantage® Executive World Elite Mastercard® (See Rates and Fees) The benefit of a $120 statement credit per calendar year on eligible Avis or Budget car rentals is depreciated.

While logging into my Citi account and navigating to “Card Benefits”, I noticed the following words:

“Earn up to $120 in statement credits per calendar year when booked directly on eligible prepaid car rentals on avis.com or budget.com. Note: Cardmembers who apply for their accounts before July 15, 2024, can earn up to $120 in statement credits is credited per calendar year on other eligible Avis® or Budget car rentals in addition to prepaid car rentals booked directly on avis.com or Budget.com through December 31, 2025.”

This means that even if you applied for the card before July 15, 2024, you can use this year’s and next year’s credit for both prepaid and postpaid fares. However, if you have applied for the card since July 15, 2024, you will need to prepay your reservation to access the credit.

While prepaid reservations may be cheaper at the time of booking, they carry a $50 cancellation fee if you cancel more than 24 hours before pickup or $150 within 24 hours of that time. So, if you choose to go this route, you want to make sure you actually go ahead with the booking.

I plan to use this credit on a car rental in Cabo San Lucas, Mexico later this month. Luckily, I applied for the card in July 2023, after it was refreshed and this statement credit was added. I will use the credit on postpaid fare next year as well. I probably won’t risk the cancellation fee by using it from 2026, though, and I’ll book a car rental with my Chase Sapphire Reserve® instead.

Related: Credit Card Rental Car Insurance: The Best Cards and How They Work