The AT&T Points Plus Card by Citi has just been launched. But if the name sounds familiar, it’s not. Citi previously offered two AT&T-branded credit card cards: the AT&T Access Card by Citi and the AT&T Access More Card of Citi. Both of these cousins are now closed to new applicants. )

The AT&T Points Plus Card Citi from Citi offers perks to AT&T customers in the form of a statement card every billing cycle. You also get a sign up bonus and no annual fees. To earn credits, you will need to spend enough money on the card and sign up for autopay. Purchases made at AT&T will not earn you any additional points.

Five things you need to know about Citi’s AT&T Points PLUS Card.

1. You will receive a sign up bonus

Many credit cards offer a bonus for new cardholders if they meet certain spending criteria. However, not all of them do. Citi is not known for offering a bonus with its Citi(r) Double cash Card.

Get $100 in statement credit from AT&T Points Plus Card if you spend $1,000 or more within the first three months after account opening.

This is a good reward for spending $1,000. It’s not the best. The U.S. The U.S. Bank Cash+(r), Visa Signature(r), Card’s signup bonus is twice that of the AT&T points Plus Card. There is no spending requirement and you get $200 after you spend $1,000 on eligible purchases within the first 120 day of account opening.

2. Citi ThankYou points are earned for this.

The AT&T Points PLUS Card does not offer cash back, but credits towards your phone bill. Instead, it offers rewards in Citi’s proprietary currency ThankYou Points. Cardholders will be eligible to earn:

  • For every $1 spent at gas stations, you earn 3 ThankYou Points. (Gas purchased at warehouse clubs such as Costco do not qualify. )

  • 1 ThankYou point per $1 spent in grocery stores. This includes grocery delivery. Superstores and warehouse clubs are not eligible. )

  • 1 ThankYou Point per $1 spent on all other AT&T purchases, including AT&T services and products.

AT&T money doesn’t earn bonus rewards. It is extremely rare to find a credit card branded that doesn’t earn more rewards for purchases made with the brand.

Points don’t expire and there is no limit on the number you can earn. You can also consolidate your ThankYou points from other Citi cards into one account.

3. Earn up to $240 per year in statement credits — but there are some restrictions

Cardholders have the option to earn either $10 or $20 in statement credits each billing cycle, provided they meet certain spending thresholds.

  • Spend $500-$999.99 per billing cycle to earn a $10 credit on your statement

  • A $20 statement credit is available for any amount spent over $1,000 per billing cycle

To qualify for the $10 and $20 statement credits, an AT&T wireless customer must also be enrolled in paperless billing or autopay (using the AT&T PointsPlus Card as the payment method),

A statement credit reduces the amount of your balance, but it does not count towards regular payments.

4. Redeem points to get an additional statement credit

Citi ThankYou points are redeemable in a variety of ways including cash back or statement credits. When redeemed in this manner, 1 point equals 1 cent.

If you spend enough, you can earn up to two statement credits per billing cycle. Based on your spending, you can earn either a $10- or $20 statement credit. You also have the option to redeem your ThankYou Points for additional credit on the same statement.

Combining two statement credit can help you manage your monthly bills.

5. A different card is likely to work better for you

In other words, Other credit cards with no fees are better than the AT&T Points Plus Card in terms of scope and number.

The $0-annual-fee Citi Custom Cash (sm) Card is a better choice for gas purchases than the AT&T Points Plus card. Citi Custom Cash(sm), Card: Earn 5% on your top spending areas up to $500 per billing cycle.

Instead of paying with the AT&T Points Plus Card to buy groceries, you could pay with the Capital One SavorOne Rewards Credit Card. The 3% grocery rate is better than the AT&T Points Plus Card and extends to other popular spending areas such as dining, streaming and entertainment. A $0 annual fee is also included with the Capital One SavorOne cash rewards credit card.

There’s also a flat-rate card such as the Wells Fargo Active cash(r) Card. This card earns unlimited 2% on all purchases, and not just groceries like the AT&T Points Plus Card. The annual fee for this card is $0 and you get a $200 sign-up bonus after spending $1,000 on purchases within the first three months.