What to do with my Citi ThankYou Preferred Card?

[longtimelurker]

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@Anonymous wrote:

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@longtimelurker wrote:

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@kdm31091 wrote:

I had the same problem, applied without really thinking enough about it, for this card. Unfortunately the benefits seem pretty meh unless you're going to spend a lot on dining and entertainment. I've heard also that redeeming the Citi points is pretty crappy as far as redeeming them for cash.

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Yes, this card has very little going for it, especially once the Double Cash was released (The AF versions, Premier and Prestige do have value, but not for everyone)

Doing statement credit, paying with points etc, all give you sub 1:1 redemptions.   You can get 100% doing mortgage/student loan redemptions, that is the best value.

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So you can't get cash back? Like a check ? hmmm 

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You can, but at something like 0.65 cents per point, which means you are better off using a 1% card on normal spend, and the QuickSilver 1.5% is still better on the TYP "2%" categories.

[kdm31091]

I haven't even recieved it yet after applying, but had actually started a similar thread because I decided it was a stupid card to apply for. Haha. I am probably going to just cancel it, especially since they gave me a pretty low limit anyway.

I believe you CAN redeem for cash, but that it is only really 0.5 cents per point, which is pretty crappy. Even my TD easy rewards that is a pretty boring card with a flat 1 point per dollar, even it is 1 cent per point when I choose cash or statement credit etc.

[Anonymous]

Wow this card gets crappier by the minute So it's best then to just redeem for Statement credits? Or still the same crappy conversion?

[longtimelurker]

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@Anonymous wrote:

Wow this card gets crappier by the minute So it's best then to just redeem for Statement credits? Or still the same crappy conversion?

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Statement credits are the same bad conversion.  They don't want you to get cash.  Either merchandise (crappy prices), statement credit (crappy rate), pay with points (crappy rate), gift cards (limited range, can get cheaper through markets, but might be best bet), mortgage/student loan redemption (good, but have to call)

[Anonymous]

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@longtimelurker wrote:

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@Anonymous wrote:

Wow this card gets crappier by the minute So it's best then to just redeem for Statement credits? Or still the same crappy conversion?

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Statement credits are the same bad conversion.  They don't want you to get cash.  Either merchandise (crappy prices), statement credit (crappy rate), pay with points (crappy rate), gift cards (limited range, can get cheaper through markets, but might be best bet), mortgage/student loan redemption (good, but have to call)

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Yeah.. I just redeemed my 20,000 CrapYou points for 200 dollars worth Walmart Gift Cards! 

[Anonymous]

I was wondering.. how long should I wait before I call Citi to PC my preferred to DC? I've had it for about a two months. Can I also ask them to move some of my CL from Citi Hilton to the DC?

[icyhot]

Citi requires the account to be open for 12 months for PCs IINM

[icyhot]

And you can reallocate CLs but depending on who you speak with they might tell you they have to leave some on one card but I've heard others say they didn't have to. And it's a HP

[Anonymous]

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@Dw4250 wrote:
Use it as an emergency ice scraper for your windshield ;-).

SD it.

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+2