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Citi Double Cash Card just dropped the 2% cashback to 2% Thank you points and became unattractive
February 4, 2022 at
04:52 AM
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Finance
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Thread Details
Last Edited by Universeisgr8 February 5, 2022 at 02:23 PM
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.
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.
Community Wiki
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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not only did Citi NOT drop cashback as the OP claims, they are making the rewards even MORE flexible, so you can do other things with your rewards besides the cash... IF YOU WANT TO.
Cardholders earn one ThankYou point per $1 spent on purchases and an additional point for every $1 paid on the purchase balance. Citi Double Cash cardmembers can still redeem their points for cash back – through direct deposit, a statement credit, or check – at the same redemption value of one cent per point. Additionally, Citi is removing the $25 minimum to redeem for a statement credit or direct deposit.
Beyond cash back, ThankYou points offer a huge array of redemption options. Over the last year, ThankYou Rewards has grown exponentially to include more than 50,000 hotels and vacation rentals through Wyndham Rewards and Choice Privileges; new charitable redemption options with CODE (RED) and the Susan G. Komen Foundation; and 12 new gift card merchants to the now nearly 140 merchants within the ThankYou Gift Card catalog, including Nordstrom, Ace Hardware, and The Container Store.
Any existing cash rewards on a customer's account will be automatically converted into ThankYou Points in a ratio of $0.01 to one point.
as long as I can apply for statement credit with no limitations I'm happy
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Don't worry I suck at math, but I retired at the age 38. I got your back 😇
You can redeem ThankYou points for a statement credit, direct deposit, or a physical mailed check, so literally nothing changes.
This works out good for me as I have the newish Citi Custom Cash card too that already pays out in Thank You points, now the rewards will be lumped together.
Multiple threads on reddit about failed attempts. Has anything changed since this change?
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This works out good for me as I have the newish Citi Custom Cash card too that already pays out in Thank You points, now the rewards will be lumped together.
Will they now take our Cashback balance and convert them to thank you points? Or does the Cashback balance remain?