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Established Member
mirving1957
Posts: 37
Registered: ‎06-06-2012

Thankyou points

Are these better or worse than % back? Can anyone explain exactly how they are redeemed?

Contributor
xboxrunner
Posts: 139
Registered: ‎05-30-2011

Re: Thankyou points

I believe you can redeem them for gift cards or for travel. I'm not sure if 1TYP=1% Cash back.


Experian (CreditSesame)- 821 (7/2/14), 761 (Citi-4/26/13), 821 (Credit.com-7/2/2014)
Equifax Fico (MyFico) Fico- 745 (7/15/11)
Transunion (Credit Karma)- 789 (7/2/14)
Vantagescore (Credit Karma)- 894 (7/2/14)
Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012

Re: Thankyou points

In value terms, they are basically equivalent. However you have fewer options as to how you redeem TY points. IMO they're the worst bank point currency (when compared to others like UR, SPG, MR, MRE, BofA/Chase/CapOne cash-back options).

FICOs: EX: 826, EQ: 817, TU: 810
Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL
Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Regular Contributor
ramblin_wreck08
Posts: 181
Registered: ‎08-09-2012

Re: Thankyou points

I've found that they're generally equal to 0.8% to 0.9% cash back when redeemed for gift cards. They become more valuable when you redeem for higher rewards, so a $100 gift card will give you more bang for the point than a $25 gift card. I agree that they are the worst bank point currency, but I don't mind since I'm getting 5x points at restaurants and Amazon with my Forward. :smileywink:



What's in my wallet:



Left to right:
NPSL ($10k approved)
$5k (EMV - Chip & PIN)
$7k (Visa Sig + EMV)
$7.5k (WEMC)

Transunion FICO: 709 (8/13/12) -> 740 (9/24/12)
Credit Karma: 772 (11/24/13)
Credit Sesame: 755 (11/5/13)
Established Contributor
Cory
Posts: 671
Registered: ‎03-15-2007

Re: Thankyou points

+3, very terrible point system. I got so tired of the TY system, until I recently just closed my Citi-Forward Card. I loved Citi's Customer Service in general, but Citi-Forward was not working for me personally. Great bank to deal with though. Citi's Customer Service is excellent!

1. American Express Blue Cash Preferred~2. BankAmericard Cash Rewards World MasterCard~3. BankAmericard Travel Rewards Visa Signature ~4. Discover It~5. Citi Forward Visa Signature~6. CCCU MasterCard.
Contributor
charleeislegend
Posts: 103
Registered: ‎07-21-2012

Re: Thankyou points

[ Edited ]

Cory wrote:

+3, very terrible point system. I got so tired of the TY system, until I recently just closed my Citi-Forward Card. I loved Citi's Customer Service in general, but Citi-Forward was not working for me personally. Great bank to deal with though. Citi's Customer Service is excellent!

 

 

 

 

Any reason why citiforward wasn't working for u? I thinking of applying for forward, just like to get both sides of the pie.

Credit Karma (TU) : 745 Discover FICO (TU): 770 Credit Sesame (EX): 735 myFICO (EQ) - 713
Amex Simplycash Business - $7000 Travelocity AMEX - $1400 Amex TrueEarnings - $7500 Chase Sapphire - $6000 Citi Forward Student - $5000 Discover IT Student - $1900
Valued Contributor
bribro
Posts: 1,367
Registered: ‎04-20-2012

Re: Thankyou points

I'm considering a Citi Forward card myself, by the Citi TY points system is a big turnoff. Granted, with 5% cash back on restaurants it's a better value, but compared to my effective 3.6% cash back via CSP I'm not sure it's worth throwing another card into the mix.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
Regular Contributor
ramblin_wreck08
Posts: 181
Registered: ‎08-09-2012

Re: Thankyou points


bribro wrote:

I'm considering a Citi Forward card myself, by the Citi TY points system is a big turnoff. Granted, with 5% cash back on restaurants it's a better value, but compared to my effective 3.6% cash back via CSP I'm not sure it's worth throwing another card into the mix.


My average realized value from the Forward is about 4.1% at restaurants through redeeming for gift cards. IMO that .5% wouldn't be worth throwing an extra card in the mix. In addition to a hard pull and another card to keep active, it would take you longer to redeem rewards.  Not worth it for just $5 out of every $1k spent IMO.




What's in my wallet:



Left to right:
NPSL ($10k approved)
$5k (EMV - Chip & PIN)
$7k (Visa Sig + EMV)
$7.5k (WEMC)

Transunion FICO: 709 (8/13/12) -> 740 (9/24/12)
Credit Karma: 772 (11/24/13)
Credit Sesame: 755 (11/5/13)
New Contributor
LilNYC
Posts: 184
Registered: ‎07-08-2012

Re: Thankyou points

I have both the Citi Forward & Citi Thank You cards & I'm able to redeem my TY points for gift cards at 1:1 value as long as the gift card is at least $25. There are a lot of merchant gift cards to choose from. I just reedemed my signup points for $250 in Bloomingdales gift cards. My only complaint is that Citi didn't mail out the gift cards till 4 days after I reedemed my points.  Statement rebate & visa cash cards are at 50% value though. 

Citi Thank You $13,200 - Chase Freedom $3,100 - AMEX Zync NPSL (init. ability $17.5K) - Citi Forward $7,000 - AMEX BCP $6,000 - USAA Rate Adv $15,000 - USAA World MC $12,000 - Discover More $4,000 - Amex Hilton Honors $4,500 - Amex SPG $2,000 - Barclay's Priceline Rewards $6,400 - Chase Sapphire Pref. $7,500

EQ: 794. TU: 704. EX: 755
New Contributor
CreviceTool
Posts: 51
Registered: ‎08-14-2012

Re: Thankyou points

You can always get them to redeem your points as a check written to your mortgage company, if you want 1:1 cash-out.


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