Update: This card now earns ThankYou points.
Originally posted on 1/19:
The Citi Double Cash card offers 2% cash back that can be transferred to ThankYou points.
That’s valuable as you can currently choose to cash out at 2% back or transfer those rewards to ThankYou points with an existing ThankYou account. However, new changes to the card will allow cardholders to earn ThankYou points directly, with the option to redeem as 2% cash back, or in many other ways including travel, shopping, and more.
Currently there is a $25 minimum to cash out the points for a statement credit.
It will retain its current earnings at 2 ThankYou points per dollar spent. Plus you will now be able to cash out any amount of points with no minimum! Citi also often offers discounted gift cards with ThankYou points, which can offer even more value.
If you want to transfer ThankYou points into airline miles or hotel points at a 1:1 ratio, you will still need a Citi Premier Card. If you have this 2 card bifecta you can use the Double Cash card for 2 ThankYou points per dollar everywhere and you can use your Premier card for 3 ThankYou points per dollar on airfare, hotels, travel agents, groceries, gas, and dining. Plus you can transfer miles to airlines like Turkish, where you can redeem domestic awards on United (including Alaska and Hawaii) for just 7.5K miles in coach or 12.5K miles in business/first class. Or fly to Israel for just 32K miles in coach or 47K miles in business class.
If you make it a trifecta with the Citi Rewards+ Card you’ll also get a 10% points rebate on all points redemptions on up to 100K points per calendar year. So when you cash out your points, you’ll be effectively earning at least 2.22% back everywhere. Or if you transfer 100,000 points to an airline via a Citi Premier card, you’ll get a 10,000 point rebate thanks to also having a Rewards+ card. You’ll also want to use this card on small purchases as it automatically rounds up rewards earned on every purchase to the nearest 10 points, meaning you earn 10 points on a $0.50 Amazon balance reload, which is a whopping 20 points per dollar spent at Amazon!
Or make it a quadfecta with the Citi Custom Cash Card, which offers 5 points per dollar on up to $500 in purchases in your top spending category each month.
Do you have a Citi Double Cash card?