Citi to Offer ThankYou Point Conversion for Double Cash Card
LowCards is a Citi partner. These offers, valid when the article was written, may have expired. View our full editorial disclaimer here.
According to the latest cardmember statement, Citi will soon offer a new rewards opportunity for the Citi Double Cash Card. Starting this fall, cardholders will be able to convert their cash back to Citi ThankYou Points.
ThankYou rewards can be used for gift cards, online purchases, travel rewards and statement credits. They can also be transferred to select airline loyalty programs, such as JetBlue TrueBlue and Eva Air. Citi’s current promotion provides a 25% bonus for ThankYou Points transferred to Flying Blue Miles. They have similar promotions for other airlines throughout the year.
The Citi Double Cash Card has a unique rewards structure. Cardholders earn 1% cash back when they make a purchase, then an additional 1% cash back when they pay for the purchase. This is particularly beneficial for transactors, cardholders who pay their entire balance off each month. This practice guarantees 2% cash back for all qualifying purchases.
There is no information yet about the transfer rate for cash back and ThankYou Points. A direct 1:1 ratio is unlikely, but Citi may offer 2 cents to 1.5 ThankYou Points in order to align with competitors.