How do I transfer Citibank points?

The best way you can use your Citi ThankYou points is to redeem them for travel or gift cards.

To get started, you need to access the "Thank You from Citi" page where you can see all the available redemption options.

Once logged in, you can shop with your points at partners like Amazon.com, buy gift cards, book travel or contribute to charities.… read full answer

Citi ThankYou points are worth up to 1.25 cents each, depending on which card you have and how you redeem. But a Citi ThankYou point’s value can also be as low as 0.5 cent.

Citi ThankYou points are worth most when earned with either the Citi Premier Card or Citi Prestige® Card and redeemed for travel through Citi. Travel is the most valuable redemption method for people with other Citi points credit cards, too, but you’ll only get 1 cent per point with them.… read full answer

A Citi ThankYou point’s value is lowest when redeemed for cash back. So if that’s what you’re after, you may want to consider getting a cash rewards credit card. Citi has a great one, if you’re interested: Citi® Double Cash Card – 18 month BT offer.

Below, we’ll give you a complete breakdown of the various ways in which Citi ThankYou points are valued.

Citi ThankYou Points Value by Card & Redemption Method:

​​​​​​​To be clear, the Citi ThankYou Preferred group actually covers five cards: Citi ThankYou Preferred, Citi ThankYou Preferred for Students, the AT&T Credit Card and two Expedia credit cards.

The Select & Credit feature may also need some explaining. This enables you to redeem ThankYou points to pay for specific purchases that appear on your statement. Purchases in the following categories qualify: dining, grocery, clothing and department stores, gas, utilities, entertainment, and drugstores. You cannot redeem for partial purchases using Select & Credit.

Many of the redemption methods require you to have a minimum number of Citi ThankYou points. You need at least 2,500 points to redeem for a gift card, loan payment or charity donation. You also need 2,000 points for a statement credit and 10,000 for a paper check.

If you have multiple accounts earning ThankYou Points, you can pool your points for easier spending. Select “Add a Sponsor Account” when you log in to your Citi account online. Points can even be transferred to someone else’s account but will expire after 90 days if not used.

For the most part, ThankYou points do not expire for the life of the account. Your points can be temporarily suspended if you make a late payment, but you can redeem them when you bring the account back to current status.

The difference between cash back and points is that the former is the most versatile type of credit card rewards, as it can be redeemed for anything, and there’s never any doubt about how much it’s worth. Points, on the other hand, have a value set by the credit card company and tend to be worth the most when redeemed for travel. Credit card companies won’t always clearly disclose points values, and those values can change over time. It’s possible that points could be worth 1 cent apiece one day and 0.8 cents each the next.… read full answer

You can spend points for many different things. Usually, you can trade them for travel, gift cards, unique experiences, charitable donations or even cash. There are no restrictions on what you can use cash for. You can typically redeem cash back for a statement credit, paper check, or direct deposit to a bank account. One thing credit card shoppers should watch out for are cards advertised as offering cash back that really provide points. For example, the Chase Freedom Flex℠ offers “5% cash back” in certain bonus categories. But what it actually gives is 5 Chase Ultimate Rewards points per $1, which cardholders can then trade for cash back at a rate of 1 cent each.

Cash Back vs Points:

• Good cards overall: Citi® Double Cash Card – 18 month BT offer for cash back. Chase Sapphire Preferred® Card for points.
• Initial bonus: Bank of America® Customized Cash Rewards credit card - $200 for spending $1,000 in the first 90 days. IHG® Rewards Premier Credit Card for points - 175,000 points for spending $3,000 in the first 3 months.
• Earning rate: Usually at least 1% cash back or 1 point per $1 spent.
• Devaluation: Points can be devalued by the issuer, while cash back can’t.
• Redemption options: Statement credit, check or deposit for cash. Travel, merchandise, gift cards, cash and more for points.
• When it’s the best choice: Points for frequent travelers. Cash back for everyone else.

Let’s take a look at two high-profile cards in a battle of cash back vs. points.

Citi Double Cash Card tops the cash back offerings with 2% cash back on all purchases and an introductory APR of 0% for 18 months on balance transfers, with a balance transfer fee of 3% intro fee ($5 min) for each transfer in first 4 months, after that 5% ($5 min) for each transfer. It also chases a $0 annual fee and requires good credit to get.

But if you’re a frequent traveler, Chase Sapphire Preferred is a more attractive option. It gives 5 points per $1 spent on travel purchased through Chase, 2 points per $1 on all other travel purchases, 3 points per $1 on dining and online grocery purchases, 3 points per $1 on select streaming services, and 1 point per $1 on all other purchases. It has an initial bonus of 60,000 points for spending $4,000 in the first 3 months. This card’s points are worth 1 cent each toward cash back or gift cards or 1.25 cents each toward travel. There’s a $95 annual fee and the card requires good credit.

For both cash back and points cards, you can expect to lose your rewards if your account closes for any reason. Most cards don’t let your rewards expire over time. But Citi Double Cash Card’s cash back expires if you don’t use your card for 12 months. And on points cards alone, your points can be devalued if the issuer decides to charge more points for its rewards. So, frequent redemption is essential.

So, the bottom line is that frequent travelers should check out points cards. Otherwise, cash is king.