How to use the $500 American Airlines Vacations credit on the Citi AAdvantage Executive Card

The Citi® / AAdvantage® Executive World Elite Mastercard® (see rates and fees) is adding a new perk that could help offset a significant portion of its annual fee: up to $500 in annual statement credits on eligible American Airlines Vacations purchases.Beginning Aug. 23, cardholders can earn up to $250 in statement credits from January through June and another up to $250 from July through December when booking eligible American Airlines Vacations packages or experiences. The new credit arrives alongside a broader refresh to the card, including an increase in the card's annual fee from $595 to $695, meaning cardholders who maximize the benefit can recoup much of the added cost.Unlike a straightforward airline credit, this perk comes with specific booking requirements. So what qualifies, and how can you get the most value from the credit?Here's what you need to know.What is the American Airlines Vacations credit?Beginning Aug. 23, cardholders of the Citi / AAdvantage Executive can receive up to $500 in annual statement credits on eligible American Airlines Vacations purchases.Rather than one annual credit, the benefit is split into two six-month periods:Up to $250 in statement credit...