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News: Citi Devalues Some Redemption Options - Credit-Land.com

Cardholders of the Citi Strata Premier℠ Card as well as Citi ThankYou® Rewards members received some unwanted news recently. Here are some details below.

Many Citi Strata Premier cardholders received an email informing them that the cash back redemption of ThankYou® points will be reduced from 1 cent per point to 0.75 cents per point. The current value of cash back redemptions is 10,000 ThankYou Rewards Points are redeemable for $100. With the change, the redemption value for cash back redeemed through a ThankYou Rewards account will be $75 for 10,000 ThankYou Rewards Points.

This change will come into effect on 08/24/25. This means if you have plans to redeem your points for cash back, you still have time to do it at the current value.

Another piece of frustrating news is for all ThankYou Rewards members who prefer transferring their ThankYou points to participating loyalty programs. Luckily, the devaluation will affect only one airline of ThankYou Rewards' 20 airline and hotel transfer partners - Emirates Skywards.

Beginning July 27, the transfer rate to Skywards will devalue by 20%, which means your 1,000 ThankYou Rewards Points will become only 800 Skywards miles. What is worse is that the current 1:1 transfer rate is not available. Citi has made transfers to Emirates Skywards temporarily unavailable. So, if you were planning to transfer your ThankYou points to Skywards miles at the current transfer rate, you have probably lost your chance.

Luckily, Emirates is also a transfer partner of Bilt Rewards, Capital One miles, and Chase Ultimate Rewards. These credit card partner programs still offer transfers to Emirates Skywards at a 1:1 rate.

tags : Rewards Program Travel Rewards Rewards Credit Cards

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