Posted by William Charles on September 22, 2019
Credit Cards

Published on September 22nd, 2019 | by William Charles

299

Citi Double Cash Cash Rewards Now Convertible To Citi ThankYou Points (1:1 Rate)

Update 9/22/19: This was due to be live 9/23/19, but it looks like it has gone live early. Hat tip to leetommy

Update 9/18/19: Miles Talk is reporting this as confirmed. Reddit user bspok3 is also saying this is confirmed by a Citi insider. Few things to note:

  • Chairman, Prestige, or Premier cardholders will be able to transfer to all travel partners at a 1:1 rate
  • If you don’t have one of those cards, you’ll be able to transfer to JetBlue at a 1:0.8 rate

Update 9/13/19: A reddit user was told that Citi Double Cash Rewards will be convertible at a $1:100 rate (e.g 2% back = 2 Citi ThankYou points) starting 9/23. This would be a massive game changer.

Original post: In their most recent statement reader David G reports seeing an account message stating that in Fall 2019 Citi Double Cash rewards will be convertible to Citi ThankYou Points. Unfortunately it doesn’t say what the conversion rate will be, keep in mind this card earns 2% cash back on all purchases (1% when you make the purchase and another 1% when you pay on time). I can see three main options:

  • 2% cash back = 1 Citi ThankYou point
  • 2% cash back = 1.5 Citi ThankYou points
  • 2% cash back = 2 Citi ThankYou points

The first option is not useful at all, the second option is comparable to something like the Chase Freedom Unlimited and the third option would be a game changer. I suspect we will see something like the middle option, but who knows with Citi.



299
Leave a Reply

avatar
 

  Subscribe  
newest oldest most voted
Notify of
Mike
Mike

Hoping for a 1:1 ratio! That would be AWESOME.

-mike

Ben
Ben

Anything less than that is dead on arrival.

Abe
Abe

They are still cutting the most useful benefits out of this card so they should at least make it a double ThankYou points card to make it worth keeping.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

@guest_810003 please do some research before you post something
like that

Dan - Legal Bank Robber
Dan - Legal Bank Robber

I said it very respectful and it doesn’t matter how long you’ve been here. You said the Citi DC is the best card on the market. Thats just not factual information.

NotRonJeremy
NotRonJeremy

Obviously the new Apple card is better. It works with your iPhone and is the card Steve Jobs would have used if he were still alive today.

Every time you use it the cashier will know you’re a better person. Much better than your Citi card.

Tom
Tom

+1

Glenn
Glenn

but can you use your Apple card to get exclusive steak knives?

NotRonJeremy
NotRonJeremy

My understanding is that the Apple card is made of metal so you could sharpen it and use it as a steak knife.

Kevin
Kevin

Dan was being respectful. Disagreement does not equal disrespect. Your comment regarding the amount of time you have been in the “game” can be deemed disrespectful.

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Thank you ffs I literally just disagreed.

dimm0k
dimm0k

no way you’ve been in this game this long with that many cards to make a terrible statement of this being the best card

Ivan X
Ivan X

Synchrony PayPal CashBack — same 2% but no foreign transaction fee and no annual fee.

Alliant FCU VISA Signature — 2.5% ongoing (3% first year) with no foreign transaction fee for $99/year.

But if the point transfer of the DC is as rumored, *then* it beats those cards..

slut
slut

Fidelity 2% Priceline 2% BoA 2.62% Alliant 2.5%

Steve

I think the disconnect here is that you’re talking about the “mass market”, while the other people are talking about cards for the typical DoC reader, who are not in the “mass market”.

Kevin
Kevin

Please stop…maybe go to a private group of people who have been in the “game” as long as you. Wait, if you structure the group correctly and only admit those with less than five years in the “game” then you could be their leader!

All Hail King DARV! (this was probably disrespectful)

Dan - Legal Bank Robber
Dan - Legal Bank Robber

I have 30 cards with less than one year in the “game”, does that make me less knowledgeable? It’s like the senior in high school bragging to the freshman – childish

sto0pyd
sto0pyd

PenFed Power Cash, 2% back and you still get the ancillary benefits. I would have agreed with you in the past, but I don’t understand why Citi pulled key benefits associated with their cards.

Rascal
Rascal

US Bank Altitude Reserve + Samsung Pay = Best 3% return in general or 4.5% return for travel.

Bill
Bill

What’s wrong with the PayPal one? My parents have that card and they’re definitely “mass market”.

Brian C
Brian C

Just curious…why does it matter what “99.9% of Americans” think? We all know we work differently in this game than the regular consumer. So this discussion is all based on knowing that the people you are talking to and the product you are talking about is within the realm of “the game”.

So with that in mind, i think (pulling this number out of nowhere…since that is what we do) 92.3%+ of us in the game have business cards and no issues getting them.

So with that all in mind, i think its safe to assume the BBP is superior to the Citi DC.

With Much Respect,
Brian C

EDIT: This is not taking in to account Thank you point 1 to 1 conversion. With that new option, its pretty equivalent to the BBP, just depends what program you like better. Amex MR or Citi TYP.

Snorlax
Snorlax

Lol @ acting like five years is a long time.

Brian C
Brian C

You win 🙂

Dan - Legal Bank Robber
Dan - Legal Bank Robber

Who cares how long you’ve been in it. That doesn’t equal knowledge.

Pauline the Bean
Pauline the Bean

@guest_810003 If one only redeems for cash, is the new change good news or bad news for me? If it is bad news, can you recommend another 2% + card on everyday purchases in case I have to look for a new credit card? Darv

Ctown Bin
Ctown Bin

If you only redeem for cash, this news doesn’t affect you one way or the other. You can continue using the Citi Double Cash for 2% cash back as always.

Pauline the Bean
Pauline the Bean

Ctown Bin Thank you so much for answering. This is good news for me!

Glenn
Glenn

If you only redeem for cash this is good news. Some percentage of the cards users will redeem for points instead which means there is less competition for the cash you are trying to get so the cash will be more valuable.

Brian C
Brian C

LOL! WHAT!?????!?!?

Dave
Dave

Ollo optimum mastercard 2.5% cashback on everything
PENFED POWER CASH REWARDS VISA SIGNATURE® CARD 2% cashback if you have checking account with them

exoticfusion
exoticfusion

Ollo is invite only, so that doesn’t work for everybody. Unless you got an invite you can send my way?

Parkerthon
Parkerthon

Fingers crossed this is why. But no annual fee? I suspect this is just some info slipping out as misinformation. I bet they’re introducing a card in the doublecash family with af that earns 2 typ. Similar to how chase has fiddled with freedom.

CtownBin
CtownBin

Even if you’re right and there is an AF, this would be still be a game-changer. 2 TYP everywhere is a big deal. Plus, if there is an AF, then there will likely be some sort of bonus and depending what that is, it could be even BETTER than a no-AF no-bonus version.

Matt Katakis
Matt Katakis

It’s awesome but I don’t know about a game changer. You can get the Blue Biz Plus from AMEX which essentially is offering the same thing from their network, which has better travel partners IMO.

mike
mike

Amex Blue Business Plus. AMEX points are worth more than CITI points, have better transfer partners and that is just listing one card.

Tony
Tony

USAA Limitless Cashback Rewards Visa Signature credit card
2.5% cash back on every purchase with a monthly qualifying direct deposit of $1,000 in a USAA Bank checking account
no annual fee
no foreign transaction fee.

Rick
Rick

The 2.5% USAA card was never available to California residents, and is no longer available at all.

Kevin
Kevin

Maybe joint the military?

Snorlax
Snorlax

It’s nothing special

Francesco
Francesco

How to get the best value out of TY points? Is there any non-travel redemption that is worth more than 1c/point?

Billy Bob
Billy Bob

Sometimes they do GCs at more than 1 — so far to places I never go to.

George
George

With the Premier or Prestige, transfer to airline partners.

With the Rewards+ and either of those, get 10% back on up to 100k/year redeemed or transferred.

Scott
Scott

I have received conflicting information from Citi customer service that makes me question if you can transfer DoubleCash rewards related ThankYou points to airline partners, even if you have a Premier or Prestige card. Can anyone positively confirm that they have been able to do this?

I received a yes you can from chat and a no you can’t from a phone rep. For what it’s worth, another phone rep seemed to not even think it was possible to transfer DoubleCash rewards to ThankYou points. I don’t have much confidence in the info.

George
George

At least 2 well-known blogs confirmed it. One was Frequent Miler [title: “Double Cash ThankYou Points Transferable to All Partners (when paired with Prestige or Premier)”]. I can’t find the second.

Geo
Geo

You should definitely just use them on Amazon. Pay for your purchase with TYP. The redemption is good — no need for you to bother calculating it out or do any research. Trust us.

Francesco
Francesco

Thanks Billy Bob and George for their useful replies.

Thanks Geo for bad advice, unhelpfulness and unnecessary sarcasm.

Geo
Geo

Francesco I guess we should be happy you can read and write, even if you can’t use Google search on your own. Research is hard, but asking for free handouts is easy. Happy days.

Rene
Rene

You could have ignored the question, if you felt he should have done his own research. Or you could have given him some hints to help him start his own research. Instead you choose to spent time to add two comments ridiculing him.

That is just rude and arrogant. How about you remember the time you asked questions and people actually helped you to find answers.

Geo
Geo

Sorry Rene. You’ll probably like this better:
Click the little red/yellow/green circle on your computer. When it opens up a new window, type “http://www.google.com”. When the Google Search engine opens, type ” tell me the difference between ‘spent’ and ‘spend'”. When the answer comes up, you can thank Google and Geo.

barron von stroopwaffle
barron von stroopwaffle

@Geo…..watta dick you are

toddo
toddo

Well said Rene. This hobby is full of elitist, big headed, full of themselves dweebs like Geo. People forget why the www was created……a source for sharing knowledge.

Francesco
Francesco

Geo Here’s a learning opportunity for you: https://lmgtfy.com/?q=how+to+be+nice+on+the+internet I think you’ll like it, it uses the method that you suggested. Cheers!

Parkerthon
Parkerthon

The internet is full of faceless humans saying things to irritate and harass others simply because they get to hide behind a thick veil of anonymity. Would never do so in public because they couldn’t handle the real feedback they would receive for being such d’s. Half of them wouldn’t say a word if a server forgot something in their order… they’d just stiff them to leave and get on yelp to leave a nasty review. That’s the kind of people we’re talking about here. So in this community these folks huddle behind their keyboards and tip tap away crappy messages to others that triggered them for all things small and inconsequential. I’d be lying if sometimes seeing the things they say doesn’t bother me, but then I just picture some frustrated dude sitting in his boxers on a greasy dell laptop eating Cheetos typing away and I realize these people need to be ignored, completely. So realistically the best response for trolls and angry sad people is no response at all. I suppose this post technically crosses my own line, but I enjoy sharing my philosophy on toxic netizens when it applies. Fyi this is also why I like downvotes ala reddit. It presents a nice default filter. We need that here.

James
James

Yeah so people like you can enjoy your nice little safe space circle jerk. Just stay on Reddit then.

Parkerthon
Parkerthon

Oh this isn’t about safe spaces and filtering of debate. You can disagree without being an insulting inflammatory ahole. The majority of people do so in public and with each other every day. It’s only when you get to sit behind a computer that you say things like that because there’s no repercussions. People would take a major issue with these statements in meat space and you might find yourself dealing with a bad situation. That’s why you don’t see that often. And my message wasn’t aimed at the trolls. Just a reminder to the rest to ignore trolls because realistically there’s nothing we can do to filter them out without also falling into the trap of filtering conflicting opinion as well. Reddit has that problem a bit.

Alec
Alec

Yeah, I’m SURE you’d have the nerve to act that way if you were talking to him in person. What? You wouldn’t? Then maybe you should reconsider how much of a jerk you are on the internet.

Can you imagine, someone starting a conversation with someone else… “So I heard about the new Doublecash transfer option, you know if there are any good uses for TYP though?” And the other person going “do your own research you idiot, what an amateur. Learn to use Google.” If that sounds horrible in person, it should be just as bad online.

GeosFather
GeosFather

Shut up nerd.

Kevin
Kevin

Highly doubt it will be a 1:1 ratio because that would be 2x everywhere in points which I doubt they’d be willing to do. Probably the middle option or less.

Dave R
Dave R

That card already exists and earns more valuable points too… Amex Blue Business Plus.

Lion
Lion

AMEX isnt accepted everywhere

aubergine
aubergine

And BBP can’t be cashed out at max value with just that card alone

Mark Ostermann

@aubergine How so? The Blue Business Plus earns fully unlocked and transferable points.

M
M

BBP can also transfer to airline partners without an AF & and still has all the purchase protections/benefits. Citi ain’t AmEx. But I definitely welcome this latest effort to partially regain competitiveness.

MK
MK

Double Cash is just about to become trash. Pretty much all the benefits have been downgraded and eliminated.

Geo
Geo

Are they taking away the cash back? /S

Charlie
Charlie

The only benefit that counts on Double Cash is the 2% cash back. All the rest of the benefits are/were unessential.

aubergine
aubergine

it was a good card to put stuff on for warranty needs because it was a card you wouldn’t close, and 2% back is ok enough. we generally put all our large applicances on it, and saved receipts with the manuals. now we’ll probably have to shift to costco card for those, and lose 1% back on that. (or buy them at costco, but mostly they carry higher end appliances than what we need)

Nick
Nick

Price rewind and 2 year extended warranty a no AF card are examples of useful and exclusive benefits of Citi cards including the Double cash (esp. the no AF part).

rick b
rick b

It works nicely to spread my GCM purchases in a weekly rotation.

J. Grant

Wow, this is a semi-regular card for me. Think I’m pretty much done with this one until I know for what the TYP rates.

EBF
EBF

It’s my default card when there’s no bonus spend categories. Bummer. I don’t travel much so, all my “points” get turned into cash back. TY points are not worth 1¢ cash unless you get a mortgage/loan check. (Which is a pain.)

Geo
Geo

WTF. They are NOT going to force you into TYP conversions. Read and do a **little** bit of research on your own.

EBF
EBF

Wow, random internet person! Way to give a kind and courteous reply! Maybe *you* should take a lesson from @lenin1991 below on gently correcting misinformation on the Internet.

ORDGuy773
ORDGuy773

Totally….

Dave C
Dave C

Geo on the war path!

GeosFather
GeosFather

Geo you’re a troll. Leave the internet.

lenin1991
lenin1991

The message from Citi shown says that they “can be converted” to TYP, not that they must be, it sounds like (at least for some period of time) you could continue to cash out as per the current program.

atrader4
atrader4

Much more benevolent than Vladimir.

Frank

How could it not be 1:1? Like it won’t be a “Double Cash” card anymore if it earns 1.5 or 1 TYP

This could be a big deal/blunder by them….or maybe there are so many sub-optimal redemptions that 2 TYP is fine

aubergine
aubergine

It would be indeed awesome if 1:1, and maybe there are enough folks making suboptimal redemptions (my sister constantly burners up her TYP on rinky dink Amazon purchaess) that Citi can tolerate it. But I suspect itl’ll be CFU like, and 1.5 to 1, which might convince people to open AF cards so they can xfer them out.

Kevin
Kevin

It will still earn cash the same way, i.e. Double Cash. Doesn’t mean they have to let you transfer them to points at the same value.

LDoc
LDoc

Maybe a business version of the Citi Double Cash Card with 2x TYP is in the works to compete with the Amex BBP card. Right now the only two business cards at Citi are the Costo card and an AAdvantage card. No TYP card at all.

Dave

There is most definitely a CitiBusiness ThankYou card. An open secret for years and nobody knows why they don’t want to promote it at all.

LDoc
LDoc

There are no online links for that card, but maybe it is a branch only option. It is a rotating quarters card for TYPs.

aubergine
aubergine

Paper application in branch. Can’t be converted to / from (or if it can extremely YMMV) since it would be a nice soft landing from an AA biz.

Not much of a signup bonus (20k most of the time) but it is no fee. The categories are mostly duplicative of other cards, and the few that are not (professional services?) are hard to identify, use, scale up.

Dave @ MilesTalk

Signup bonus is often 30k and sometimes 40k. Have to keep checking with a biz banker. 1st half categories scale better than 2nd half cats.

Dave @ MilesTalk

Yes, it is in branch only. Wrote about it pretty recently. https://milestalk.com/the-secret-citibusiness-thankyou-credit-card/

Steven
Steven

Even at 2:2, this isn’t that interesting to me since the only way I would use it is the 1.25 cpp through ThankYou portal for flights. that makes it 2.5% rewards but with the annual fee on the premier that’s required, it’s probably not worth it over a no AF 2% card.

Yuri
Yuri

You can add Rewards+ to get 10% back, so it becomes 1.39 cpp = 2.78%

SamL
SamL

It doesn’t work like that.

Yuri
Yuri

It does

Stan
Stan

i expect the worst. maybe 10:1.

Rena
Rena

Convertible, meaning can be converted, but if not the 2% just remain as regular cash back right? Why are some people saying that the card will be useless?

Dave R
Dave R

This.

Besides, even if it DID earn just 2 TYP per dollar with no cash option… this is the worst of the 2% cashback on everything bunch, no no real loss.

Geo
Geo

Correct. Some people just can’t read.

GeosFather
GeosFather

Geo isn’t smart

Charlie
Charlie

The people who say that the card is useless are talking about the loss of the purchase protection and other insurance-related benefits.

aubergine
aubergine

Probably. But I would think that other free 2% cashback cards are going to start removing ancillary benefits too. And Citi’s is a real cashback, relatively easy to get. Some of the other ‘cashback’ cards are really just travel statement credits or what not, on cards where its suboptimal to put travel spend on.

Paul
Paul

Citi trying to compete? I kind of doubt it but we’ll see. Hopefully they do offer a good transfer ratio.

Chuck

If it becomes 1:1 it would be great for being able to cash out all TY points at 1%, even without the Prestige card, so long as you have the DC card.

SamL
SamL

Wouldn’t that be the reverse conversion?

DaveC
DaveC

Geez, I just requested a $300+ statement credit for this card. If only I heard about this 1 day ago.

Mike
Mike

You should never get a statement credit, that cuts your cash back rate to 1.99%. Since it’s 1% upfront on purchases and 1% on payments you lose the last one on your statement credit.

Halamadrid
Halamadrid

If we take into account the conversion rate that you get at Amazon from TYP (1TYP = .80 cents) I think that the likely scenario is 2 cb $ = 1.5typ, but I actually see them doing 2cb$ = 1.25typ with the way things have been going lately with Citi.

Kevin
Kevin

It seems most likely the ratio will be what you describe, and thus there will be little to no point in using it (although those who don’t know better or care will use it). May as well just redeem for the 2% cash.

aubergine
aubergine

That ratio – which would be unlikely to be attractive to DoC crowd – might still be useful for someone who had a transferable TYP card and was a just a few pts short of a useful redemption. Probably better than buying pts from an airline at 2 or 3c per.

Freqflyer
Freqflyer

Lots of folks like the chase unlimited card which gives 1.5 miles per dollar. And of course chase venture now does the same.

Yuri
Yuri

yes, probably gonna be 1.5, like FU or Venture, You can “cash out” Venture at 1c each. I have FU, but I never use it, cause Amex gives 2x, or I use Altitude Reserve, which gives 4.5%. So I will never use DC, if it will be at 1.5. But at 2x I will use it if I max out BBP, which is unlikely.

Yuri
Yuri

Who will convert to TYP then? It’s better to cash out instead of converting to TYP without clear path to 1cpp redemption.

Back to Top ↑