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Citi Double Cash Card just dropped the 2% cashback to 2% Thank you points and became unattractive

421 242 February 4, 2022 at 04:52 AM in Finance (4)
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Last Edited by Universeisgr8 February 5, 2022 at 02:23 PM
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Got an email today from Citibank about the changes announced for the Citi Double Cash card cashback system. Now instead of earning the 2% cashback and be able to redeem always as cash, you will earn, starting 3/28/22, one Thankyou point every one dollar spent and one Thankyou point after paying the card statement.
So at this moment, you will still earn 2% cashback in points but this may not be as straightforward for some as just getting pure cash back and there is a risk of points devaluation in the future.

I believe this change is not targeted but nationwide.
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Last Edited by bluekiwi February 5, 2022 at 06:18 AM
You will earn ThankYou Points which you can redeem for a bunch of options, including cash at the same redemption rate as before.

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planeluvr
02-04-2022 at 04:56 AM.
02-04-2022 at 04:56 AM.
How much would you earn on 2% cashback on $500?
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mcattack86
02-04-2022 at 04:59 AM.
02-04-2022 at 04:59 AM.
10 / 500 = 0.02 = 2%
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Hawkins1
02-04-2022 at 05:00 AM.
02-04-2022 at 05:00 AM.
Two comments -

1) I have same card but didnt get the email (yet)

2) You need to go back to math class. Under current system, if I spend $500, I get 2% back = $500 x 0.02 = $10
Under new system, you spend $500, you get 1000 points. 1,000 points = $10 per what you typed in and the pictures.

I see no difference.

*NOTE* - OP corrected the original post with math error as noted by two posts above mine but the post as edited is just as meaningless. It is just as easy to get cash back from the ThankYou points as it is the old rewards. The change is really a big "nothing burger"
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Last edited by Hawkins1 February 4, 2022 at 05:10 AM.
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FineTuningDan
02-04-2022 at 05:12 AM.
02-04-2022 at 05:12 AM.
Quote from Hawkins1 :
Two comments -

1) I have same card but didnt get the email (yet)

2) You need to go back to math class. Under current system, if I spend $500, I get 2% back = $500 x 0.02 = $10
Under new system, you spend $500, you get 1000 points. 1,000 points = $10 per what you typed in and the pictures.

I see no difference.
A little more civility would be nice in this too harsh world of ours. How about saying "I think you misunderstand" rather than "You need to go back to math class."
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Hawkins1
02-04-2022 at 05:21 AM.
02-04-2022 at 05:21 AM.
Quote from FineTuningDan :
A little more civility would be nice in this too harsh world of ours. How about saying "I think you misunderstand" rather than "You need to go back to math class."
I think civility would be better shown if you didn't make this comment at all. People always want to chime in on others' matters all too often in this too harsh world of ours.
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sam012007
02-04-2022 at 05:30 AM.
02-04-2022 at 05:30 AM.
I got the letter in mail last night with the same information. I do think it shouldn't change anything that we receive as it's still 2% regardless of the $ or Points. So we should be all good.
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Ryson11
02-04-2022 at 05:32 AM.
02-04-2022 at 05:32 AM.
Quote from Hawkins1 :
Two comments -

1) I have same card but didnt get the email (yet)

2) You need to go back to math class. Under current system, if I spend $500, I get 2% back = $500 x 0.02 = $10
Under new system, you spend $500, you get 1000 points. 1,000 points = $10 per what you typed in and the pictures.

I see no difference.

*NOTE* - OP corrected the original post with math error as noted by two posts above mine but the post as edited is just as meaningless. It is just as easy to get cash back from the ThankYou points as it is the old rewards. The change is really a big "nothing burger"

Hahah I know treating points vs actual cash back redemption. What's the difference, same crap 2% in the end
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qkumbr
02-04-2022 at 05:37 AM.
02-04-2022 at 05:37 AM.
Quote from Hawkins1 :
Two comments -

1) I have same card but didnt get the email (yet)

2) You need to go back to math class. Under current system, if I spend $500, I get 2% back = $500 x 0.02 = $10
Under new system, you spend $500, you get 1000 points. 1,000 points = $10 per what you typed in and the pictures.

I see no difference.

*NOTE* - OP corrected the original post with math error as noted by two posts above mine but the post as edited is just as meaningless. It is just as easy to get cash back from the ThankYou points as it is the old rewards. The change is really a big "nothing burger"

It's 1% back on spend plus 1% back on payments. Not 2% on spend. Get your facts straight if you're gonna sling insults.
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balla123
02-04-2022 at 06:06 AM.
02-04-2022 at 06:06 AM.
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Tazmania99
02-04-2022 at 06:13 AM.
02-04-2022 at 06:13 AM.
Is the point redemption ratio 1000 = $10? I have other crappy Citi cards with cash redemption ratio 1000 pts = $5.
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BeigeStew7045
02-04-2022 at 06:44 AM.
02-04-2022 at 06:44 AM.
As others here have said, this is much ado about nothing from the OP. You can still transfer thank you points for cash at the exact same rate as before. This has been confirmed by Citi.
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unknown00
02-04-2022 at 07:12 AM.
02-04-2022 at 07:12 AM.
How sure are we 1000 = $10? I know some cards are 1000 = $5 when redeeming for cash or credit back
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HQWildcard
02-04-2022 at 07:28 AM.
02-04-2022 at 07:28 AM.
For those of you that have way too much faith in credit card companies, you need to understand that the company, at their discretion (i.e. quarterly earnings reports), can easily "revalue" points or change the redemption ratios.
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