The Citi Double Cash is one of the best flat rate cash back cards on the market today. Cardholders can earn up to 2% cash back for all purchases. They will receive 1% upon making the purchases and another 1% upon paying their bill. Doctor of Credit (H/T) reported late yesterday that Citi Double Cash rewards are now transferrable to Thank You (TY) Points. The new redemption option is going live on September 23, 2019.
What’s Going On?
According to Doctor of Credit, Citi Double Cash cardholders can turn their cash back into TY points. The good news is that each cent earned on the Double Cash is equivalent to one TY point. That’s a 1:1 ratio, which puts the Double Cash in line with Chase’s no annual fee cards.
However, the bad news is that the transferred TY points are as valuable as those from the no annual fee Citi Rewards + card. Those with either the Double Cash or the Rewards + can now redeem TY points in the following methods:
- Cash Back (1 cent per point, or CPP)
- Gift Cards (1 CPP)
- Jet Blue Flights (5 TY points = 4 True Blue points, 0.8 CPP)
Those who also have the Citi Prestige, Citi Premier, or Chairman cards can also transfer points to transfer partners. Furthermore, no other redemption-related changes are occurring with the premium Citi cards.
Citi has now given Double Cash cardholders another option for cash back redemption. While such flexibility is a welcome change, the value of TY points and cash back remains the same. Double Cash and Rewards + cardholders can redeem for at most 1 CPP, which is what no annual fee travel cards should have as their points valuation.
However, the most positive changes are in store for those with the Double Cash and at least one premium Citi card. That’s because the Double Cash serves as another tool you can use to earn TY points. Citi’s rules look like Chase’s in that Ultimate Rewards (UR) points are worth at most 1 CPP if you don’t have a premium Chase card.
Citi Double Cash cardholders can start redeeming cash back earned towards TY points. However, those who do not have a premium Citi card will still be limited for redemption options. But those who have a premium card will now have another tool that earns TY points.
With this news, travelers Citi fans should now collect multiple cards that earn TY points. All they need is a premium card, the Double Cash, and/or the Rewards +. This way, you will maximize the amount of TY points being earned. This concept is similar to Chase and American Express who both have compatible cards that earn their transferrable points.