Yes, you can convert Citi Double Cash Card rewards to ThankYou points at a rate of 100 ThankYou points per $1 in cash back rewards converted (1 cent in cash back equals 1 ThankYou point). Citi Double Cash Card cardholders need a minimum of $1 in rewards to convert, but there are no maximums, and points never expire as long as the account is active.
Citi Double Cash Card points have not always been convertible to ThankYou points. Prior to September 2019, Double Cash rewards could only be redeemed for a check, statement credit or direct deposit. Now, when you convert to ThankYou points, you can also redeem for gift cards, travel, and purchases at Amazon.com, select gas stations and other participating retailers.
To convert Citi Double Cash Card rewards to ThankYou points, simply log in to your online account and access the rewards section where you will be given the option to convert Cash Rewards to ThankYou Points. Once cash back rewards are converted to points, you can’t reverse the transaction.
If you convert Citi Double Cash Card rewards to ThankYou points, just be careful what you redeem for. Gift cards and travel generally offer the best value. In other cases, like when redeeming for cash, you won’t get as much value as you would if you didn’t convert to points.