topic Re: Per DoC Citi DC “points” transfer to TYP in Credit Cards

Per DoC Citi DC “points” transfer to TYP

Caught750 — Sun, 07 Jul 2019 12:11:23 GMT

Per DoC Citi will now allow DC “points” transfer to a TYP earning card. This makes their offering quite a bit more valuable IMO. I may hafta keep my Premier.

Re: Per DoC Citi DC “points” transfer to TYP

odd_dog — Sun, 07 Jul 2019 12:23:00 GMT

This of course depends on WHAT the conversion rate is on 2%. LOL KNOWING Citi it will be more like your 2% = 2 TY points LOL.....how they convert would make a huge difference as to how "valuable" this is....

Re: Per DoC Citi DC “points” transfer to TYP

Caught750 — Sun, 07 Jul 2019 12:26:25 GMT

Even at a conversion of one cent to point it’s a pretty valuable transfer if that 2% is now 3-3.5% via transfer partners or the portal.

It also follows Chase and will hopefully convince Chase not to cancel point pooling from CF and CFU to CSR or CSP as well.

Re: Per DoC Citi DC “points” transfer to TYP

kdm31091 — Sun, 07 Jul 2019 13:10:20 GMT

Personally I doubt Citi will allow full value transfers. I think it will be more like 2 Double Cash points for 1.5 TY points, or something similar. If they do allow 1:1 value, a base 2 TYP on everything would be useful for people who like that ecosystem. I still think you would be required to hold a premium level card to transfer points. But yeah, I really doubt it will be 1:1.

Re: Per DoC Citi DC “points” transfer to TYP

Anonymous — Sun, 07 Jul 2019 13:55:09 GMT

The wording is citi will "allow conversion from cash reward to TYP". This doesn't seem to require you to have a TYP card, or require the conversion to occur. So I can see no downside here. If conversion rate is great, one can do it, if not, one can stay with 2% cash back.

1% to 1 TYP seems overly optimistic though, i think 1.5:1 ratio is more likely.

Re: Per DoC Citi DC “points” transfer to TYP

odd_dog — Sun, 07 Jul 2019 14:18:30 GMT

@kdm31091 wrote:
Personally I doubt Citi will allow full value transfers. I think it will be more like 2 Double Cash points for 1.5 TY points, or something similar. If they do allow 1:1 value, a base 2 TYP on everything would be useful for people who like that ecosystem. I still think you would be required to hold a premium level card to transfer points. But yeah, I really doubt it will be 1:1.

Maybe you are not saying it right or I am reading it wrong (very possible) but DC is NOT a points system it works on percentage....so what do you mean exactly by "2 Double Cash points for 1.5 TY points"? Are you talking Percentage of purchase??

Re: Per DoC Citi DC “points” transfer to TYP

kdm31091 — Sun, 07 Jul 2019 14:21:32 GMT

@odd_dog wrote:
@kdm31091 wrote:
Personally I doubt Citi will allow full value transfers. I think it will be more like 2 Double Cash points for 1.5 TY points, or something similar. If they do allow 1:1 value, a base 2 TYP on everything would be useful for people who like that ecosystem. I still think you would be required to hold a premium level card to transfer points. But yeah, I really doubt it will be 1:1.
Maybe you are not saying it right or I am reading it wrong (very possible) but DC is NOT a points system it works on percentage....so what do you mean exactly by "2 Double Cash points for 1.5 TY points"? Are you talking Percentage of purchase??

I am saying you will (in my opinion) exchange 2 of your Double Cash cents/cash for 1.5 Thank You points, or something along those lines. I'm aware DC is not a points system but once they start allowing you to move them around, referring to them as cash gets a little murky as the value may fluctuate.

Re: Per DoC Citi DC “points” transfer to TYP

odd_dog — Sun, 07 Jul 2019 14:27:39 GMT

@kdm31091 wrote:
@odd_dog wrote:
@kdm31091 wrote:
Personally I doubt Citi will allow full value transfers. I think it will be more like 2 Double Cash points for 1.5 TY points, or something similar. If they do allow 1:1 value, a base 2 TYP on everything would be useful for people who like that ecosystem. I still think you would be required to hold a premium level card to transfer points. But yeah, I really doubt it will be 1:1.
Maybe you are not saying it right or I am reading it wrong (very possible) but DC is NOT a points system it works on percentage....so what do you mean exactly by "2 Double Cash points for 1.5 TY points"? Are you talking Percentage of purchase??
I am saying you will (in my opinion) exchange 2 of your Double Cash cents/cash for 1.5 Thank You points, or something along those lines. I'm aware DC is not a points system but once they start allowing you to move them around, referring to them as cash gets a little murky as the value may fluctuate.

LOL yes Citi can be "Murky" thanks!!

Per DoC Citi DC “points” transfer to TYP

Anonymous — Sun, 07 Jul 2019 22:54:05 GMT

After I picked my jaw up off of the floor I found a Citi Credit Card that will read "Closed by Consumer Request"! Shocked to say the least! Used to have several Citi Credit Cards and I did not utilize no appreciate the "Thank You" Points and closed the cards. If all turns out to be as stated in this post it may be time for me to bid adu to Citi Bank. If it weren't already enough that they are essentially eliminating the travel and rewards portion of their credit cards add this in and why bother?

Posted by William Charles on July 6, 2019 Doctor of Credit

Citi Double Cash Cash Rewards Will Be Convertible To Citi ThankYou Points

In their most recent statement reader David G reports seeing an account message stating that in Fall 2019 Citi Double Cash rewards will be convertible to Citi ThankYou Points. Unfortunately it doesn’t say what the conversion rate will be, keep in mind this card earns 2% cash back on all purchases (1% when you make the purchase and another 1% when you pay on time). I can see three main options:

2% cash back = 1 Citi ThankYou point
2% cash back = 1.5 Citi ThankYou points
2% cash back = 2 Citi ThankYou points

The first option is not useful at all, the second option is comparable to something like the Chase Freedom Unlimited and the third option would be a game changer. I suspect we will see something like the middle option, but who knows with Citi.

Re: Citi Double Cash Master Card Cash Rewards Converted to Thank You Points

Anonymous — Sun, 07 Jul 2019 22:30:01 GMT

That's a good way to throw away perfectly fine Dollars!

Re: Citi Double Cash Master Card Cash Rewards Converted to Thank You Points

wasCB14 — Sun, 07 Jul 2019 22:32:36 GMT

Keep in mind Citi has a history of restricting how TYs can be used based on their source...regardless of what other cards a person may have.

Re: Citi Double Cash Master Card Cash Rewards Converted to Thank You Points

kdm31091 — Sun, 07 Jul 2019 22:33:08 GMT

Unless I am reading it wrong it is going to be completely optional. You don't have to redeem for TY points. You can redeem as 2% cash like normal. This is an added option, not an "instead of".

Re: Citi Double Cash Master Card Cash Rewards Converted to Thank You Points

M_Smart007 — Sun, 07 Jul 2019 22:41:03 GMT

@kdm31091 wrote:
Unless I am reading it wrong it is going to be completely optional. You don't have to redeem for TY points. You can redeem as 2% cash like normal. This is an added option, not an "instead of".

That's how i interpreted it to read also "completely optional"

Re: Citi Double Cash Master Card Cash Rewards Converted to Thank You Points

Anonymous — Sun, 07 Jul 2019 22:43:48 GMT

I found the snippit on the statement.... also... they're nerfing everything else on the card besides the 2% cashback.

The following is a summary of changes that are being made to your card
benefits. Effective September 22, 2019,

Worldwide Car Rental Insurance,

Trip Cancellation & Interruption Protection,

Worldwide Travel Accident Insurance,
Citi Price Rewind,

90 Day Return Protection,

Damage & Theft Purchase Protection,

Extended Warranty will be discontinued and will no longer be
provided for purchases made on or after that date.

I'm sure this has been mentioned before in another thread but.... helpful reminder to actually check your "statement" and not just the charges to be reconciled.

Re: Per DoC Citi DC “points” transfer to TYP

Anonymous — Mon, 08 Jul 2019 17:24:51 GMT

As one who has had a multi year relationship with Citi and their "Thank You" Points, I found for cash they would redeem (pay) it at 0.5 rather than one to one or greater. In reading their Thank You Points web site, redemption shows as at $50 or $100. While it appears for those who would utilize more than cash, it may be a potential enhancement.

Since I dropped all my Citi Thank You Rewards related cards (not seeking the TY points) and without travel benefits what is the point. In reviewing the Thank You website they still even reference the Citi Forward Card which was gone a long while back. In truth, I do not have a lot of faith in Citi making this a better situation for those of us looking for straight cash and if "statement credits" is the cash option it is not quite cash for me. Redemption at $50+ rather than $25 is a real deal killer!

As various posters have pointed out, it seems we don't not have the final outcome as yet on how Citi will handle the Citi Double Cash but, based on what Citi Bank has been doing with most all of their other credit cards, I am not feeling a lot of positive.

Re: Per DoC Citi DC “points” transfer to TYP

Anonymous — Sun, 07 Jul 2019 23:28:50 GMT

As a follow on this posting, I went to the Citi Card website and looked at what was there for someone applying for a Citi Double Cash Back Master Card. Read the Terms and Conditions along with the additional information. Interesting enough, Citi has a the present Rewards through October 31, 2019 and the new Rewards as of November 1, 2019. They do not read what is posted in the Doctor of Credit Forum. To avoid adding more confusion I did not bring the new information forward as is it going to change or what??? If your interested, go look up the Citi Double Cash Card and read the Terms and Additional Information sections.

Re: Citi Double Cash Master Card Cash Rewards Converted to Thank You Points

Anonymous — Mon, 08 Jul 2019 01:36:07 GMT

This is probably their way of preventing people from closing the Premier after the year is up. I’m probably still closing mine since my only use for TYP are Portal redemptions.

However then again I do also hold the Rewards+ which would add an extra 10% to that number so hmm

Re: Citi Double Cash Master Card Cash Rewards Converted to Thank You Points

imaximous — Tue, 09 Jul 2019 17:40:51 GMT

@wasCB14 wrote:
Keep in mind Citi has a history of restricting how TYs can be used based on their source...regardless of what other cards a person may have.

This to me is just as important as the conversion rate. Even if they offered 1:1, Citi could simply treat those TYPs just like banking TYPs that don't transfer to partners and only have a "cash" value. If that's the case, the only reason to convert DC cash to TYPs is if you have a Premier card where you could get an additional 25% value. Otherwise, you might as well keep the points as cash in your DC account.

Re: Per DoC Citi DC “points” transfer to TYP

SouthJamaica — Tue, 09 Jul 2019 21:27:03 GMT

@Caught750 wrote:
Per DoC Citi will now allow DC “points” transfer to a TYP earning card. This makes their offering quite a bit more valuable IMO. I may hafta keep my Premier.

It's funny but I keep reading about "notices" from Citibank on this forum, but -- even though I have both the DoubleCash and the Premium cards -- I haven't received either the notice about nerfing benefits or the notice about DoubleCash rewards being converted to ThankYou points.

My reaction to the first piece of news about the nerfing of benefits was that Citi was about to convert my Premier card into a second rate card. I can't believe I won't be able to use my main travel card for renting a car.

But if the DoubleCash rewards wind up being converted on an equal basis to ThankYou points, holy cow, that could be amazing. The ThankYou points are worth around 1.6 cents apiece to me, so my DoubleCash could be earning me 3.2% on ordinary, non-category daily spend.

Of course, we don't know how this will all play out, but I will be paying attention.

Re: Per DoC Citi DC “points” transfer to TYP

Anonymous — Sat, 14 Sep 2019 12:32:15 GMT

Doc now reporting it's 1:1.

This is a massive game changer, DC will be ahead of cfu, ppmc, nfcu.