Citi Double Cash is making two changes to their rewards program whereby the card will earn ThankYou points directly. Previously, the card earned cash back which could be transferred to ThankYou points. Points can still be cashed out as before, at a rate of 1 cent per point which gets you 2% back per $1 spent. These changes go into effect on March 28, 2022.
- You’ll still have the option to redeem for cash, but ThankYou Points also give you other redemption options, including booking flights or hotels and more.
- Citi is eliminating the $25 minimum for direct deposits and statement credits. You’ll be able to redeem ThankYou Points for a direct deposit or statement credit with as little as 1 point.
I’m surprised at the change since it makes it more confusing for the casual ‘cashback card’ fan, their desired market, but overall these are positive changes.
*** ALERT: CITI LOWERING CL DUE TO “UNDER-UTILIZATION” ***
Just wanted to alert everyone that I received an email on Sat, 2/25/23 from Citi with the subject:
“We’ve updated your credit limit”
I then see that my CL has been lowered by 28.6%.
I call Customer Service and find out that my CL was lowered due to “UNDER-UTILIZATION”.
He re-instated my original CL which should go into effect within the next 8-10 business days.
For context, I actively use this card on a monthly basis.
I typically charge no more than 2% of my CL which I pay off every month.
Since Citi has done this, I am staying alert on all CCs as well.
Now that Citi DC is a TYP card, can I downgrade Citi Premier into Citi DC and keep existing points?
I have the C2x cashback card and a Sear Mastercard that earns ThankYou rewards. If I combine the two TY accounts into the C2x cashback TY acct, will I be able to redeem the combined points at .01 via direct deposit? The Sears MC TY points are only redeemable for statement credit or check at .005. Has anyone already done this successfully? Thanks
so do you need the double cash in your TYP ecosystem to guarantee the 1:1 when cashing out? In other words, if you have a custom cash only for instance, do you not get the 1:1 cash out option?
Anybody do a direct deposit with their ThankYou points soon after the conversion (March 27 in my case) and had it not show up in the receiving account yet? I had done direct deposits with ThankYou points to the same account before, so I’m not sure what happened.
Now that the conversion is done tried to product change to Custom Cash. Product changes are still “blocked” but the rep said “soon”. Please add data points if you try ! Thank you!
Questions:
I have citi bank accounts earning TY points and a double cash card, but they are not connected.
1. Is it possible to connect them and then redeem the TY points from the bank account to the double cash card? in order to increase the redemption value.
2. If I added a citi Rewards+ card, would I also get the annual return of 10% of points redeemed?
You can definitely combine it with Rewards+. I think you can also combine it with the bank account points but I don’t have that type of account so I’m not 100% sure. You just have to call and combine them all into one thank you point account. There is an online tool to combine but it seems to not work for most people so calling in to the TY hotline will be best.
For Rewards+, after a redemption (like a cashout), you get back 10% of the redemption in form of ThankYou points to use in your next redemption. It is capped at $1000/yr.
Can someone explain why earning ThankYou points directly is better or different than the previous transfer option?
I always have cashed out, so I guess I don’t understand which scenarios this pertains to, or how it might be useful.
Amazon does come Citi Thank you point offers
Citi has been pushing HARD on the whole TY points thing for a few years, and were trying to get people to convert well before this forced transition, so I have to assume that, ultimately, it’s to Citi’s financial advantage to have TY points as the norm. I suspect all the partner deals and items purchased using TY points (which have always looked very overpriced, when you “do the math”) put more $$ in Citi’s pocket, in the long run. The one good thing, is that I’ll no longer get the constant communications about how I’d be so much better off if I converted all my earnings to TY points. That, and the constant Flex Loan needling (they’re killing tons of trees on THAT one, since it’s cyber AND snail mail notifications…funny that they still whine about those not on paperless billing) are annoying as hell. Good thing they still offer 1-1 cashback, or I’d probably move on to a different “2% back on everything” CC.
For me, it is useful because all three of my Citi cashback cards are combined into one number automatically, so the rewards are easier and faster to manage, even if just to cashout. There is also $0.01 min redemption now being points.
At this point the Costco card needs to be TY points as well.
Except Costco only wants you spending rewards in the store.
You can exchange Costco rewards for cash at the store and spend it anywhere you please.
You need to go to that damn store and try finding a parking 2 miles away and waste few gallons of gas and half of your day to do that stupid cash back redemption, !!
Hell with Cost Co and any other membership stores out there ,
Next time you are picking your Hot Dog there tell them I do not want a soda with my hot dog please take that off my charge, or when you pick up a combo pizza tell them I don’t want onions in it and see what they say.
Why don’t you pick up the phone and call their customer service to redeem your cash rewards by asking them to mail a check to you instead of going to the store and see what they say !! LOL
How does combining rewards from your multiple TYP accounts work now (think 2 DCs and a Premier)? Do points still expire if you don’t use them in a certain amount of time after combining?