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Limited-time offer is back. The Citi AAdvantage Platinum Select World Elite Mastercard is the co-branded American Airlines card from Citi. The sign-up bonus varies, but since you can only get it once every 48 months, right now is a good time with an elevated 80k bonus and the annual fee being waived. Here are the updated card highlights:

• 80,000 American Airlines miles after $3,500 in purchases within the first 4 months of account opening.
• First checked bag free on domestic American Airlines itineraries for you and up to 4 travel companions on the same reservation – savings of up to $500 per round trip.
• 2X AAdvantage® miles for every $1 spent at gas stations
• 2X AAdvantage® miles for every $1 spent at restaurants
• 2X AAdvantage® miles for every $1 spent on eligible American Airlines purchases*
• 1 Loyalty Point for every 1 eligible AAdvantage(R) mile earned from purchases.
• $125 American Airlines Flight Discount after you spend $20,000 or more in purchases during your cardmembership year and renew your card.
• No Foreign Transaction Fees*
• Preferred boarding on American Airlines flights
• 25% savings on inflight food and beverage purchases when you use your card on American Airlines flights
• $0 intro annual fee for the first year, then $99.

Bonus details. Note the following language for the personal card, which has been changed from 24 to 48 months. Having the business version is okay.

American Airlines AAdvantage® bonus miles are not available if you have received a new account bonus for a Citi® / AAdvantage® Platinum Select® account in the past 48 months or if you converted another Citi credit card account on which you earned a new account bonus in the last 48 months into a Citi® / AAdvantage® Platinum Select® account.

To clarify, you can have one of both the consumer version of this card and the CitiBusiness® version designed for businesses under your name. The bonuses are also separate.

Baggage fee value. American Airlines now charges a whopping $50 one-way for the first checked bag if you don’t prepay online ($45 if you prepay online). That’s $100 roundtrip for a single checked bag, per person. With this card, your first checked bag is free on domestic American Airlines itineraries for you and up to four companions traveling with you on the same reservation. $100 roundtrip x 5 people = $500 potential benefit.

Bottom line.  The Citi® / AAdvantage® Platinum® Select® World® Elite® Mastercard® has® a® nice® bonus® offer®. As with most of these co-branded cards, a lot of the ongoing value comes when you fly on American and utilize the free first checked bag benefit for you and up to 4 companions (value of up to $100 per person, round-trip).