Citi subtly reduces the value of the $120 Avis-Budget car rental credit associated with the Citi / AAdvantage Executive World Elite Mastercard

What’s the deal with card issuers quietly implementing reductions in important benefits without adequately informing their customers in advance? (Refer to: Bilt's recent Rent Day reduction.)

As highlighted by Frequent Miler, the benefit of receiving up to $120 in statement credits for qualifying Avis or Budget car rentals each year with the Citi® / AAdvantage® Executive World Elite Mastercard® (see rates and fees) has been diminished.

Upon logging into my Citi account and checking "Card Benefits," I came across the following phrasing:

"Receive up to $120 in statement credits annually when eligible prepaid car rentals are booked directly on avis.com or budget.com. Note: Cardmembers who opened their accounts before July 15, 2024, can earn up to $120 in statement credits each year for other qualifying Avis® or Budget car rentals, in addition to prepaid rentals booked directly on avis.com or budget.com, through December 31, 2025."

This means that if you applied for the card prior to July 15, 2024, you can utilize this year’s and next year’s credits for both prepaid and postpaid rentals. However, for those who applied for the card after July 15, 2024, prepayment will be required to access the credit.

While prepaid bookings can offer lower rates at the time of reservation, they come with a $50 cancellation fee if canceled more than 24 hours before pickup, or $150 if canceled within 24 hours. Therefore, make sure you’re committed to the booking if you decide to take this route.

I plan to utilize this credit for a car rental in Cabo San Lucas, Mexico, later this month. Fortunately, I applied for the card in July 2023, right after it was refreshed and this statement credit was introduced. I’ll also take advantage of the credit for a postpaid rental next year. However, I probably won’t risk the cancellation fee by using it from 2026 onward, and I’ll likely opt for car rentals with my Chase Sapphire Reserve® instead.