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The favored Citi® Double Money Card – 18 month BT provide, a superb cash-back bank card, will quickly permit its rewards to be transferred to Citi’s ThankYou factors rewards program, in accordance with messages beginning to seem in buyer accounts.
Citi officers wouldn’t present particulars on the brand new choice, however the account message reads: “Coming within the Fall 2019 your Citi® Double Money Card – 18 month BT provide will mean you can convert your money rewards to ThankYou Factors which might be redeemed for present playing cards, journey, purchases at choose retailers, and extra.”
Key lacking info thus far is the switch ratio — what are cash-back rewards value after you exchange them into ThankYou factors?
» MORE: Citi ThankYou factors: Learn how to earn and use them
Is changing to ThankYou factors deal?
The quick reply: We don’t know but, till Citi reveals the switch fee and different particulars.
NerdWallet values ThankYou factors at a median of 1 cent every, relying on what you redeem them for. Redemption choices embrace journey, present playing cards and extra. However cash is a extra versatile forex than any reward factors, together with ThankYou factors, as a result of you may spend it on something — so a key to changing this card’s money rewards into ThankYou factors can be to get again greater than the money worth.
The $Zero-annual-fee Citi® Double Money Card – 18 month BT provide has the potential to supply that outsize worth if the conversion fee is favorable. If it’s a 1:1 ratio, as an illustration, that will imply you basically earn 2 ThankYou factors per greenback spent — simply as the cardboard now earns 2% money again per greenback spent: 1% while you make a purchase order, and one other 1% again while you pay it off.
In that state of affairs — relying on which different Citi playing cards you’ve gotten and the place you’re more likely to journey — you may get good worth from utilizing Citi’s travel-booking web site or transferring factors to its a number of airline companions. Remember, although, that JetBlue is Citi’s solely home companion. And once more, Citi has not disclosed the switch ratio.
And this additionally assumes that cardholders of the Citi® Double Money Card – 18 month BT provide will even have entry to the travel-booking web site to make use of ThankYou Factors — or whether or not they will additionally want considered one of Citi’s extra premium journey playing cards, such because the Citi Premier℠ Card, with an annual price of $95. That card, too, offers one other doable wrinkle as a result of with it, ThankYou factors are value 1.25 cents every when redeemed for airfare through the Citi ThankYou Journey Middle. So for those who’re allowed to mix ThankYou factors from a number of Citi playing cards, this might be a helpful choice.
Notable to vacationers, nonetheless: Citi simply axed a lot of journey advantages and protections from its bank cards. And the Citi® Double Money Card – 18 month BT provide expenses a international transaction price of three%.
No matter this new switch choice, the Citi® Double Money Card – 18 month BT provide is a perennial NerdWallet high decide amongst cash-back bank cards for its excessive fee and its simplicity. After all, selecting to strategically switch rewards to ThankYou factors would add a layer of complexity.
» MORE: Citi® Double Money Card – 18 month BT provide: NerdWallet’s full evaluate