Redeem ThankYou Point for Statement Credit or Cash Rewards at 1 Cent Value
Update (Apr. 19, 2021) – Citi now has added a Cash drop-down menu and the ability to redeem for any amount.
Citi ThankYou points are most valuable when redeemed for travel through travel partners. There are also other options such as redeeming for loans at 1 cent each, bill pay and more. However, if you wanted to redeem for cash, the rate has been terrible until now. If you redeemed ThankYou points for “Cash Rewards” or “Statement Credit”, you would only get a value of 0.5 cents. Now that has changed, at least for Citi premier cardholders.
If you try to redeem your ThankYou Points for Cash Rewards or Statement Credit, you now receive double the value, 1 cent per point. Cash Rewards start at 5,000 points for a $50 reward, and Statement Credits start at 1,000 points for a $10 credit.
To find these options, go to the ThankYou Rewards website, hover over “More Ways to Redeem” and choose wither “Cash Rewards” or “Statement Credit“. Let me know if you see the same option for other Citi ThankYou cards.