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Are thank you points worthwhile?

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sunkissed
Established Contributor

Are thank you points worthwhile?

I’ve been considering the Citi Thankyou Premier card, largely because it give 3x points on entertainment – a category I spend a decent amount in but do not have covered by any other card. I fly Southwest. I do know that thank you points can be used to book Southwest flights. Unfortunately, I’d have to book those over the phone, as it is not an option online. I’m also aware of the new transfer partners added this summer. I don’t use any of their partners, except for Hilton. Hilton transfers don’t appear to be a good value.  I’m kinda hoping that once the AA/US merger settles out, AA will be added as a transfer partner also, but I’m not sure how realistic that hope is considering that would compete with Citi’s AA cards.

 

I have a Southwest card and CSP, so I don’t need this card to fly. I’m mostly considering it because my entertainment spend is going either un-bonused or on cashback cards, like Quicksilver. I was hoping to squeeze more value out of that spend category.

 

I’m also wrestling with the $125 AF. Although waived the first year, I’m not sure if the math will work in my favor long-term.

 

Thoughts?

NFCU Flagship $32K | NFCU Cashrewards $42K | Discover IT $39K | SECU Visa $20K | Chase SW $24k | CSR $15K | Chase Bonvoy $11.5K | Chase Freedom $11.5K | Chase Amazon Visa 8.5K | AMEX Bonvoy $18.1K | AMEX Hilton Surpass $15K | AMEX Hilton Aspire $24.4K | AMEX Gold | Aviator Red $16K | Uber Visa 10k | Citi TY Premier $24.6K | BoA Premium Rewards 35k | BoA Cash Rewards Visa $31.5k | BoA Cash Rewards MC $23k | US Bank Cash+ $10k | USAA AMEX $6K | Cap1QS $11K | BJs MC $27.6K | Walmart MC $5.1K | Loft MC $25,000 | Macy’s Store/Amex $20K/$1K | BR Visa $10K | JCP $1K | VS $3.2K | Home Depot $5K | Lowes $8.5K | Target $14.5k
Message 1 of 15
14 REPLIES 14
mountainmom
Frequent Contributor

Re: Are thank you points worthwhile?

I have the free version. I don't travel really so don't know about those options. The Amazon and statement credit options are poor values. I usually redeem for gift cards. 1:1 Walmart. . But some cards are like $50 card for $45 worth of points. They have a lot of dining and shopping gift cards. I've redeemed them for restaurant cards to give as gifts.


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Message 2 of 15
sunkissed
Established Contributor

Re: Are thank you points worthwhile?

Thanks for the reply.  I wonder if I could downgrade to the no fee version if it's not to my liking after the first year.

NFCU Flagship $32K | NFCU Cashrewards $42K | Discover IT $39K | SECU Visa $20K | Chase SW $24k | CSR $15K | Chase Bonvoy $11.5K | Chase Freedom $11.5K | Chase Amazon Visa 8.5K | AMEX Bonvoy $18.1K | AMEX Hilton Surpass $15K | AMEX Hilton Aspire $24.4K | AMEX Gold | Aviator Red $16K | Uber Visa 10k | Citi TY Premier $24.6K | BoA Premium Rewards 35k | BoA Cash Rewards Visa $31.5k | BoA Cash Rewards MC $23k | US Bank Cash+ $10k | USAA AMEX $6K | Cap1QS $11K | BJs MC $27.6K | Walmart MC $5.1K | Loft MC $25,000 | Macy’s Store/Amex $20K/$1K | BR Visa $10K | JCP $1K | VS $3.2K | Home Depot $5K | Lowes $8.5K | Target $14.5k
Message 3 of 15
sexy_kitten7
Regular Contributor

Re: Are thank you points worthwhile?

As you alluded to, they're not great. I definitely don't recommend this family of cards (I've got the mid-tier one).

The WN thing sounds cool. You should do a cpm calculation for some sample fares.

Also, a little known redemption is 1 cpp for a "mortgage payment." wink wink. But even redeeming 3X categories at 1% CB, you'd have to spend $347 per month just to break even! Again, the math may work out better for WN flights. You could try it out for a year since the signing bonus is worth the HP but I don't think it's a great everyday spend card.


Quicksilver MC / Amazon.com / Better Balance Rewards Visa / Freedom / Dividend / Quicksilver Visa / Cash+ / Thank You Preferred / Blue Cash Everyday / Better Balance Rewards MC / BankAmericard HRC Cash Rewards / It / Arrival / FlexPerks / Platinum AAdvantage / MileagePlus Explorer / LifeMiles
Message 4 of 15
Anonymous
Not applicable

Re: Are thank you points worthwhile?

Seems like more if a pain than a benefit
Message 5 of 15
sunkissed
Established Contributor

Re: Are thank you points worthwhile?

sexy_kitten7, you state exactly what I was concerned about: the 3x spend required to breakeven on the card is steep and it is not recommended as an everyday card.

 

I'm still undecided...1st year's AF is waived.  The bonus offered on Citi's site is for 20k points after $2k spend within first 3 months + 30k points after another $3k spend in the first 3 months of the second year.  That's a lot of work - a lot to track to not miss both ends of the bonus.

NFCU Flagship $32K | NFCU Cashrewards $42K | Discover IT $39K | SECU Visa $20K | Chase SW $24k | CSR $15K | Chase Bonvoy $11.5K | Chase Freedom $11.5K | Chase Amazon Visa 8.5K | AMEX Bonvoy $18.1K | AMEX Hilton Surpass $15K | AMEX Hilton Aspire $24.4K | AMEX Gold | Aviator Red $16K | Uber Visa 10k | Citi TY Premier $24.6K | BoA Premium Rewards 35k | BoA Cash Rewards Visa $31.5k | BoA Cash Rewards MC $23k | US Bank Cash+ $10k | USAA AMEX $6K | Cap1QS $11K | BJs MC $27.6K | Walmart MC $5.1K | Loft MC $25,000 | Macy’s Store/Amex $20K/$1K | BR Visa $10K | JCP $1K | VS $3.2K | Home Depot $5K | Lowes $8.5K | Target $14.5k
Message 6 of 15
takeshi74
Senior Contributor

Re: Are thank you points worthwhile?


@sunkissed wrote:

I fly Southwest. I do know that thank you points can be used to book Southwest flights. Unfortunately, I’d have to book those over the phone, as it is not an option online. I’m also aware of the new transfer partners added this summer. I don’t use any of their partners, except for Hilton. Hilton transfers don’t appear to be a good value.


Sounds like you're answered your own question here.  If you can't make use of the points then they're probably not worthwhile to you.

 


@sunkissed wrote:

I’m not sure if the math will work in my favor long-term.

 

Thoughts?


Do the math.  Do so for evey card you're considering as it's a tool to aid you in your decision making.

Message 7 of 15
sunkissed
Established Contributor

Re: Are thank you points worthwhile?


@takeshi74 wrote:

@sunkissed wrote:

I fly Southwest. I do know that thank you points can be used to book Southwest flights. Unfortunately, I’d have to book those over the phone, as it is not an option online. I’m also aware of the new transfer partners added this summer. I don’t use any of their partners, except for Hilton. Hilton transfers don’t appear to be a good value.


Sounds like you're answered your own question here.  If you can't make use of the points then they're probably not worthwhile to you.

 


@sunkissed wrote:

I’m not sure if the math will work in my favor long-term.

 

Thoughts?


Do the math.  Do so for evey card you're considering as it's a tool to aid you in your decision making.


Thanks takeshi74.  I just wanted to make sure there wasn't something I was missing.  So far, it looks like I do have all of the info.  I'll have to pass on this for now.

NFCU Flagship $32K | NFCU Cashrewards $42K | Discover IT $39K | SECU Visa $20K | Chase SW $24k | CSR $15K | Chase Bonvoy $11.5K | Chase Freedom $11.5K | Chase Amazon Visa 8.5K | AMEX Bonvoy $18.1K | AMEX Hilton Surpass $15K | AMEX Hilton Aspire $24.4K | AMEX Gold | Aviator Red $16K | Uber Visa 10k | Citi TY Premier $24.6K | BoA Premium Rewards 35k | BoA Cash Rewards Visa $31.5k | BoA Cash Rewards MC $23k | US Bank Cash+ $10k | USAA AMEX $6K | Cap1QS $11K | BJs MC $27.6K | Walmart MC $5.1K | Loft MC $25,000 | Macy’s Store/Amex $20K/$1K | BR Visa $10K | JCP $1K | VS $3.2K | Home Depot $5K | Lowes $8.5K | Target $14.5k
Message 8 of 15
Jlu
Established Contributor

Re: Are thank you points worthwhile?

I used my 25k point sign up bonus to book a roundtrip first class trip from Boston to Seattle. It was worth it. Then they offer 20k points after spending a certain amount after the card has been open for 1 year which negates the $125 AF the second year.

 

Also - Citi's Concierge is excellent vs Visa Signature's.

AMEX BCP $35k | Citi Double Cash $30k | PenFed PlatRewards $25k | Barclaycard $40k | Chase Freedom $25k | BofA Cash Rewards $40K | US Bank Cash+ $4500 | Discover IT $25k | NASA Platinum-Advantage $40k | CapOne Quicksilver $15k | Amazon Card $10k | Ten years on myFICO from 510 to 780 scores
Message 9 of 15
longtimelurker
Epic Contributor

Re: Are thank you points worthwhile?


@sunkissed wrote:

@takeshi74 wrote:

@sunkissed wrote:

I fly Southwest. I do know that thank you points can be used to book Southwest flights. Unfortunately, I’d have to book those over the phone, as it is not an option online. I’m also aware of the new transfer partners added this summer. I don’t use any of their partners, except for Hilton. Hilton transfers don’t appear to be a good value.


Sounds like you're answered your own question here.  If you can't make use of the points then they're probably not worthwhile to you.

 


@sunkissed wrote:

I’m not sure if the math will work in my favor long-term.

 

Thoughts?


Do the math.  Do so for evey card you're considering as it's a tool to aid you in your decision making.


Thanks takeshi74.  I just wanted to make sure there wasn't something I was missing.  So far, it looks like I do have all of the info.  I'll have to pass on this for now.


These cards are strange.   When I first got the Premier, it was good value.  Free companion ticket each year, 15% off base ticket cost when booked through them, and flight points (1 point for each mile flown, converted to Thank You points as you match spending).  Then that all went away, and I put it in the same camp as BCE (useless cards with better alternatives, except this cost a lot more than BCE!).  But then they introduced transfer, and the card got value again, IF you can make use of them (which is really the same as other UR/MR/SPG transfer cards).

 

The caveat is that IF you can make use of it, you might want to get the Prestige instead, which has a higher AF, but easily reduced by airline credits, and good extra features as 1point = 1.6c on AA.

 

Still not a fan of the Preferred though, if you can get Double Cash instead, that is better in every way!

Message 10 of 15
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