If a credit card offers you cash back, it’s usually pretty straightforward. When you get 5% cash back on groceries or 3% on gas, it’s easy to do the math and see what you will earn on your purchases in these categories.
Citi, however, has its own credit card reward system - ThankYou® Points. Don’t let the Citi ThankYou Point system confuse you though. Just remember one ThankYou Point equals one penny when you redeem them for gift cards. And don’t confuse that with the one point earned for every dollar spent.
Here is your definitive guide to Citi ThankYou Rewards. First we’ll give you an overview of how to earn and redeem points. Then we’ll look at popular Citi credit cards that offer ThankYou Rewards and outline how each one works.
Which Citibank ThankYou® Card will you choose?
Everyone, including students and businesses, appreciates a heartfelt thank-you.
What do I earn and how much is it worth?
Citibank offers an incentive program that rewards customers with points: Citi ThankYou® Rewards. This program allows you to earn points for every dollar spent and redeem them for different rewards.
The rules of the program are quite simple: one dollar spent, one ThankYou point earned, one cent in redeemable value. Got it? However, there are Citi credit cards that will give you more than one point per dollar spent, and ways to redeem your points that will give you less than one cent-per-point value.
How can I earn ThankYou® Points?
All you need is a participating Citi® credit card, and you’ll automatically become a ThankYou® member. Earn points by shopping online or in stores using your Citi ThankYou credit card. You can get even more points by shopping through ThankYou Bonus Center – 600 merchants are waiting for you there. A little short on ThankYou Citi Points? You can buy them on the Citi ThankYou web site.
What can I redeem ThankYou® Points for?
ThankYou points can be redeemed for many different ThankYou Citi Rewards – here are the main categories:
- Cash Redemption – This can be a statement credit or check. There are also options to pay off student loans, your mortgage, or even make a donation to charity.
- Gift Cards – Redeem points for gift cards to hundreds of merchants, including Amazon, Barnes & Noble, The Gap, iTunes, Kohl’s, Lowe’s, Zappos, and many more. Gift cards are delivered electronically or by mail.
- Merchandise - There are thousands of products available in this category including electronics, jewelry, sporting goods, toys, and gardening equipment, to name just a few.
- Travel – There is a whole Citi Travel Rewards site, where you can use ThankYou points to book travel or get travel certificates.
What’s the best value for my ThankYou® Points?
This one is easy: go for the gift card. A $50 gift card to Amazon, iTunes, Barnes & Noble, Zappos, or any other participating retailer costs 5,000 points – a one-cent-per-point exchange. Although cash might seem like the best ThankYou reward, you won’t get as much value from turning in your ThankYou points for cash. Currently, it takes 10,000 points for a $50 cash reward – a value of only a half a cent per point. You can also pay for travel or merchandise through the ThankYou point center, but gift cards offer the best value.
5 Citi Credit Cards Line-up
Ready to sign up for a credit card that offers you ThankYou points? Here’s the lowdown on five options:
These Credit Cards areONLY FOR EXCELLENT CREDIT.
If you don’t want to be denied and lower your credit score, don't apply for credit cards that are not suitable for your credit history.
As you see, there are plenty of cards to choose from. Just remember, all of them require excellent credit. If you’ve got it, one of these Citibank ThankYou cards may be right for you. With so many different ways to earn rewards, one of them is bound to fit your needs.