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The favored Citi® Double Money Card – 18 month BT provide, a wonderful 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 help you 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 to date is the switch ratio — what are cash-back rewards price after you change them into ThankYou factors?
» MORE: Citi ThankYou factors: earn and use them
Is changing to ThankYou factors a superb 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 embody journey, present playing cards and extra. However cash is a extra versatile foreign money 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 could 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 offer that outsize worth if the conversion fee is favorable. If it’s a 1:1 ratio, as an example, that might imply you basically earn 2 ThankYou factors per greenback spent — simply as the cardboard now earns 2% money again per greenback spent: 1% once you make a purchase order, and one other 1% again once you pay it off.
In that situation — relying on which different Citi playing cards you’ve and the place you’re prone to journey — you would possibly get good worth from utilizing Citi’s travel-booking website or transferring factors to its a number of airline companions. Consider, 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 website 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, supplies one other potential wrinkle as a result of with it, ThankYou factors are price 1.25 cents every when redeemed for airfare through the Citi ThankYou Journey Heart. So in case you’re allowed to mix ThankYou factors from a number of Citi playing cards, this could possibly be a precious choice.
Notable to vacationers, nevertheless: Citi simply axed plenty of journey advantages and protections from its bank cards. And the Citi® Double Money Card – 18 month BT provide prices a overseas transaction price of three%.
No matter this new switch choice, the Citi® Double Money Card – 18 month BT provide is a perennial NerdWallet high choose amongst cash-back bank cards for its excessive fee and its simplicity. In fact, 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 assessment