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Citi Forward

Valued Contributor

Citi Forward

Hi all,

 

I did a search here, but couldn't find what I'm looking for.  I'm considering a PC from my Citi Dividend Platinum Select to Citi Forward.  I read that you get 5 ThankYou points for every $1 you spend in a restaurant with Citi Forward.  I thought 1 TY point was equivalent to about $0.60?  Obviously that can't be right, or every dollar you spend in a restaurant gets a $3 return.


What is the correct conversion to cash?

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
Message 1 of 10
9 REPLIES
Established Contributor

Re: Citi Forward


ptr2593 wrote:

Hi all,

 

I did a search here, but couldn't find what I'm looking for.  I'm considering a PC from my Citi Dividend Platinum Select to Citi Forward.  I read that you get 5 ThankYou points for every $1 you spend in a restaurant with Citi Forward.  I thought 1 TY point was equivalent to about $0.60?  Obviously that can't be right, or every dollar you spend in a restaurant gets a $3 return.


What is the correct conversion to cash?


For cash and statement credits, the rate varies from 0.600 cents/point (3% of bonus categories) to 0.714 cents/point (3.57% of bonus categories) cents.

 

The conversion rate is 1.000 cent/point (5% of bonus categories)  for "student loan rebates" and "mortgage rebates" -- where Citi Bank cuts a check to your lender. These rates were lower (~0.8 centers/point), but they recently increased them.

Message 2 of 10
Valued Contributor

Re: Citi Forward


stan_the_man wrote:

ptr2593 wrote:

Hi all,

 

I did a search here, but couldn't find what I'm looking for.  I'm considering a PC from my Citi Dividend Platinum Select to Citi Forward.  I read that you get 5 ThankYou points for every $1 you spend in a restaurant with Citi Forward.  I thought 1 TY point was equivalent to about $0.60?  Obviously that can't be right, or every dollar you spend in a restaurant gets a $3 return.


What is the correct conversion to cash?


For cash and statement credits, the rate varies from 0.600 cents/point (3% of bonus categories) to 0.714 cents/point (3.57% of bonus categories) cents.

 

The conversion rate is 1.000 cent/point (5% of bonus categories)  for "student loan rebates" and "mortgage rebates" -- where Citi Bank cuts a check to your lender. These rates were lower (~0.8 centers/point), but they recently increased them.


Oh ok, thank you.

 

I must have misread ".6 cents" for ".6 dollars" the first time I read about Forward.

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
Message 3 of 10
Established Contributor

Re: Citi Forward


ptr2593 wrote:

stan_the_man wrote:

ptr2593 wrote:

Hi all,

 

I did a search here, but couldn't find what I'm looking for.  I'm considering a PC from my Citi Dividend Platinum Select to Citi Forward.  I read that you get 5 ThankYou points for every $1 you spend in a restaurant with Citi Forward.  I thought 1 TY point was equivalent to about $0.60?  Obviously that can't be right, or every dollar you spend in a restaurant gets a $3 return.


What is the correct conversion to cash?


For cash and statement credits, the rate varies from 0.600 cents/point (3% of bonus categories) to 0.714 cents/point (3.57% of bonus categories) cents.

 

The conversion rate is 1.000 cent/point (5% of bonus categories)  for "student loan rebates" and "mortgage rebates" -- where Citi Bank cuts a check to your lender. These rates were lower (~0.8 centers/point), but they recently increased them.


Oh ok, thank you.

 

I must have misread ".6 cents" for ".6 dollars" the first time I read about Forward.


Make sure when you are discussing the product change with Citi that you will be getting the 5x bonus for the dining/bookstore/etc categories. From my experience, when I attempted do do a product change they were only going to give me 2x bonus as it was not a new application. The CSRs seem to go back and forth on this.

FICO: EX: 763 (12/16); TU: 786 (12/16); EQ 731 (12/16)
Amex Blue Cash Preferred | Amex SimplyCash Plus | Chase Amazon Prime VS | Chase Freedom VS | Discover IT | Penfed Power Cash Rewards VS | Sams Club MC | USAA Limitless Rewards PV
Message 4 of 10
Valued Contributor

Re: Citi Forward


UFGuy2006 wrote:

ptr2593 wrote:

stan_the_man wrote:

ptr2593 wrote:

Hi all,

 

I did a search here, but couldn't find what I'm looking for.  I'm considering a PC from my Citi Dividend Platinum Select to Citi Forward.  I read that you get 5 ThankYou points for every $1 you spend in a restaurant with Citi Forward.  I thought 1 TY point was equivalent to about $0.60?  Obviously that can't be right, or every dollar you spend in a restaurant gets a $3 return.


What is the correct conversion to cash?


For cash and statement credits, the rate varies from 0.600 cents/point (3% of bonus categories) to 0.714 cents/point (3.57% of bonus categories) cents.

 

The conversion rate is 1.000 cent/point (5% of bonus categories)  for "student loan rebates" and "mortgage rebates" -- where Citi Bank cuts a check to your lender. These rates were lower (~0.8 centers/point), but they recently increased them.


Oh ok, thank you.

 

I must have misread ".6 cents" for ".6 dollars" the first time I read about Forward.


Make sure when you are discussing the product change with Citi that you will be getting the 5x bonus for the dining/bookstore/etc categories. From my experience, when I attempted do do a product change they were only going to give me 2x bonus as it was not a new application. The CSRs seem to go back and forth on this.


 

Thanks for the heads up about that.  I'm probably going to call later in the week, but before I do, I just want to make sure I'm understanding this right.  At restaurants the 5 TY points is essentially 3% cash back and 3.57% statement credit.

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
Message 5 of 10
New Member

Re: Citi Forward

i'm not sure all the info in this thread is correct.

 

mortgage credit is 5%

 

student credit is 5%

 

most gift cards are over 4%, chilis right now is 5%

Kohls non-visa $1,000 (lol) * Gap Visa $1,000 * Barclay NFL Visa Sig $2,800 * Walmart Discover $4,200 * Chase BP 5%/2%/1% VIsa $4,500 * American Express Preferred Blue 6%/3%/1% $5,700 * CapOne 2% Everyday Rewards MC $10,000 * Discover More 5% $10,000 * Chase AARP 5%/3% Visa $10,000 * Citi Dividend 5% MC $10,400 * Wells Fargo 1% $15,000 * Citi Forward 5% Visa $15,000 * Chase Freedom 5% Visa $18,700 * Chase Amazon 3%/2%/1% Visa Sig $19,100 (NPSL) * FIA 529 2% Amex $25,000 * PNC Everyday Rewards 4%/3%/2%/1% Visa $25,000 * PenFed 5%/1% Plat Visa $31,000 *
Walmart TU FICO--769 (10/17/11) Chase CLI EQ FICO--766 (10/25/11) Credit Sesame EX FAKO--805 (10/6/11)
Message 6 of 10
Valued Contributor

Re: Citi Forward


CulpeperMike wrote:

i'm not sure all the info in this thread is correct.

 

mortgage credit is 5%

 

student credit is 5%

 

most gift cards are over 4%, chilis right now is 5%


 

mortgage/student credit 5% on restaurant purchases?  I'm mostly trying to figure out if the exchange rate (to cash, or statement credit) is better than the 1% I already get with AMEX/Chase.  All I know is $1 spent at a restaurant = 5TY points and judging from above it seems like 5TY points is equivalent to almost $0.04 on statement credit.  So almost 4% back cash back.

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
Message 7 of 10
Contributor

Re: Citi Forward

Don't forget the 5x points on Amazon as well.


Starting Score: EX FICO: Unknown EQ FICO: 717 TU (CreditKarma): 713
Current Score: EX FICO: 737 EQ FICO: 752 TU (CreditKarma): 717
Goal Score: EX FICO: 760 EQ FICO: 760 TU (CreditKarma): 760


Take the FICO Fitness Challenge

Message 8 of 10
New Member

Re: Citi Forward

i guess i was giving you the 1-1 relationship on anything that is 5 TYP which for the 1-1 relationship equates to 5%.

 

that includes:

 

restaurant

books (amazon)

theater

video stores

record stores

 

some equivalencies are at 3.5% (cash, statement credit), most gift cards are 4.1% at a minimum if you use 10k TYP, other gift cards will be 5% (chilis) for 10k TYP, and then mortgage payback and student loan are 5% based on the 5 TYPs.

 

all of this can be seen on the thank you rewards page if you click around a bit. 

 

personally i have a lot of CC's and probably almost every high end rewards card and i consider this to be a top 5 card easily.  use the crap outta this puppy!

Kohls non-visa $1,000 (lol) * Gap Visa $1,000 * Barclay NFL Visa Sig $2,800 * Walmart Discover $4,200 * Chase BP 5%/2%/1% VIsa $4,500 * American Express Preferred Blue 6%/3%/1% $5,700 * CapOne 2% Everyday Rewards MC $10,000 * Discover More 5% $10,000 * Chase AARP 5%/3% Visa $10,000 * Citi Dividend 5% MC $10,400 * Wells Fargo 1% $15,000 * Citi Forward 5% Visa $15,000 * Chase Freedom 5% Visa $18,700 * Chase Amazon 3%/2%/1% Visa Sig $19,100 (NPSL) * FIA 529 2% Amex $25,000 * PNC Everyday Rewards 4%/3%/2%/1% Visa $25,000 * PenFed 5%/1% Plat Visa $31,000 *
Walmart TU FICO--769 (10/17/11) Chase CLI EQ FICO--766 (10/25/11) Credit Sesame EX FAKO--805 (10/6/11)
Message 9 of 10
Valued Contributor

Re: Citi Forward


CulpeperMike wrote:

i guess i was giving you the 1-1 relationship on anything that is 5 TYP which for the 1-1 relationship equates to 5%.

 

that includes:

 

restaurant

books (amazon)

theater

video stores

record stores

 

some equivalencies are at 3.5% (cash, statement credit), most gift cards are 4.1% at a minimum if you use 10k TYP, other gift cards will be 5% (chilis) for 10k TYP, and then mortgage payback and student loan are 5% based on the 5 TYPs.

 

all of this can be seen on the thank you rewards page if you click around a bit. 

 

personally i have a lot of CC's and probably almost every high end rewards card and i consider this to be a top 5 card easily.  use the crap outta this puppy!



This is the exact info I was looking for Smiley Happy  I will call and see if I can PC (and make sure i will get 5TY as if it was a new app) sometime soon!  Will update!

 

Thanks!!

In My Wallet:
AMEX BCE, Citi Forward, Chase Freedom

In My Sockdrawer:
AMEX Clear, Citi Platinum Select, US Bank Platinum, J.Crew
Message 10 of 10