Citi Double Cash Now Allows Conversions to ThankYou Points
Citi Double Cash Now Allows Conversions to ThankYou Points
Anuncios

The Citi Double Cash Card has been praised for its generous cash back rate, with cardholders receiving 1% off all purchases and an additional 1% off payment. With a chance to earn 2% cash back on every purchase, it’s easy to see how profitable this card is.

Since 2019, the Citi Double Cash Card has added new flexibility to these rewards.

“We’ve always worked hard to provide our customers with convenient redemption options that create meaningful value. Therefore, starting September 22, we’re offering Double Cash cardholders the ability to convert their cash rewards into ThankYou points, allowing them to Redeem points for gift cards, travel, shopping at select retailers and more,” a Citi representative confirmed.

Anuncios

For many Citi Double Cash cardholders, this option is undoubtedly of great potential value.

Should you exchange cash rewards for ThankYou points?

Citi Double Cash cardholders can redeem 100 ThankYou points for a $1 reward. Considering you can expand the value of ThankYou points by strategically redeeming them, this is a top-notch conversion rate.

Anuncios

We estimate that most ThankYou points redemption options are 1 cent or less per value point – it seems that cash redemption is still the best option. However, there is one notable exception: transferring ThankYou points to travel partners.

Citi Double Cash with an eligible Citi Card (Citi Premier® Card or Citi Prestige® Card*) can transfer their points on a 1:1 basis to any of Citi’s transfer partners.

Anuncios

The good news is that Citi Cards earning basic ThankYou points are also transferable to select participating partners. So if you have a Citi Rewards+ Card or Citi Double Cash Card, you can transfer your points to Choice Privilege, TrueBlue or Wyndham Rewards.

Citi Travel Partners is relatively limited compared to other rewards programs, but still offers unique opportunities. Since many airline miles are worth more than 1 cent per mile, you can earn more by transferring.

Let’s say you accrue 2,500 bonus points from the $25 you earned on the Citi Double Cash Card. If you then convert those points 1:1 into JetBlue TrueBlue miles (worth 1.3 cents per person from The Points Guy), we estimate you could convert those 2,500 points into a ticket worth about $32.50. That’s because JetBlue offers a wide selection of award flights, many of which can make a big difference in your miles.

Línea de fondo

For cashback fans, the new transfer option on the Citi Double Cash Card is unlikely to affect your rewards redemption strategy. However, if you choose the card because of its high flat rates on general purchases and want to dip your toes into travel rewards, converting your double cash rewards into ThankYou points can be very lucrative.

Aprende más:

Anuncios