Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. UponArriving has partnered with CardRatings for our coverage of credit card products. UponArriving and CardRatings may receive a commission from card issuers.
It seems like there are a lot of rumors swirling around right now. We’ve got exciting rumors about big changes coming to the Amex Green Card and now there are more rumors about the ability to convert Citi Double Cash cash rewards into Citi ThankYou points. If these latest rumors are true, this could be a huge game changer for your everyday spend.
The new Citi Double Cash changes
Citi already announced that beginning in the fall of 2019, the Citi Double Cash will allow you to convert cash rewards from your Double Cash to Citi ThankYou points. Here’s what the changes state:
Coming in Fall 2019 your Citi Double Cash Card will allow you to convert your cash rewards to ThankYou Points which can be redeemed for gift cards, travel, purchases at select retailers, and more. For more details, please review the terms and conditions of your Citi Double Cash Card and the terms and conditions at www.thankyou.com
We’ve known this change is coming for some time but we didn’t know what the transfer ratio would be. But now multiple people have reported that Citi reps have confirmed that as of 9/21 (or 9/23) the transfer ratio will be $1:100 ThankYou Points. This means that your Double Cash points will convert to Citi ThankYou Points at a 1:1 ratio.
This is huge because it transforms the Double Cash into arguably the most valuable travel rewards card for everyday spend for a lot of people. It will give the Amex Blue Business Plus a run for its money (that card earns 2X Membership Rewards on up to $50,000 in spend per year).
But there still is a little bit we don’t know….
We need confirmation
First, we need to get this 1:1 change confirmed from Citi in a public release. I think it’s likely true given how many people have reported Citi agents confirming this, but I don’t think we can take this as a fact until we see it officially announced by Citi.
The next question is will you be able to transfer these points to travel partners? Not all ThankYou points can be transferred to travel partners so this isn’t outside the realm of possibilities.
It’s possible that these points won’t be transferrable to travel partners or Citi may require you to hold a Premier or Prestige in order to transfer them similar to how Chase requires you to have a Sapphire Preferred, Reserve, etc. to transfer points.
A new trifecta/quadfecta?
The Double Cash will continue to earn 2% back on all purchases which could work great in conjunction with other ThankYou points earning cards and form a pretty sweet trifecta or quadfecta.
If you’re wondering about other ThankYou earning cards and how they compare, here’s a quick breakdown:
- 3X on travel (including gas)
- 2X on dining and entertainment
- 5X on airfare
- 5X on dining
- 3X on hotels and cruises
Citi Rewards+ Card
- 2X at Supermarkets & Gas Stations for the first $6,000 per year
- Rounds up to the nearest 10 points on every purchase
So as you can see, there’s a need for a ThankYou points earning card for non-bonused spending and the Double Cash could be a great option for that if the transfer ratios are actually 1:1. With the Prestige, Premier, and Double Cash, you could be earning:
- 5X on airfare
- 5X on dining
- 3X on travel
- 3X on gas
- 2X on all other purchases
Even though Citi has dropped a lot of benefits and protections, that’s still a very stout line-up of bonus categories.
Citi ThankYou partners
Here’s a list of Citi ThankYou partners in case you need to be refreshed:
- Asia Miles
- Avianca LifeMiles
- EVA Air Infinity MileageLands
- Etihad Guest
- Flying Blue
- JetBlue TrueBlue
- Jet Airways JetPrivilege
- Garuda Indonesia Frequent Flyer
- Malaysia Airlines Enrich
- Qantas Frequent Flyer
- Qatar Airways Privilege Club
- Singapore Airlines KrisFlyer
- Thai Airways Royal Orchid Plus
- Turkish Airlines Miles & Smiles
- Virgin Atlantic Flying Club
These airlines aren’t quite as popular as partners for Amex or Chase but there are still some high-quality transfer partners.
While we are awaiting confirmation, it does seem likely that the transfer ratio will be 1:1, which is very exciting. We just need additional confirmation that the ThankYou Points can be transferred to travel partners (and how that will happen). If/when that happens, the Double Cash will immediately become a no-brainer.
UponArriving has partnered with CardRatings for our coverage of credit card products. UponArriving and CardRatings may receive a commission from card issuers. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.