topic Citi Prestige Redemption Options in Credit Cards

Citi Prestige Redemption Options

kerplunk — Sat, 11 Jan 2020 05:53:41 GMT

Hey guys and gals,

Citi Prestige earns 5X for dining and travel. Can you redeem that for statement credit or cashback? If so, is 1 point = 1 cent?

I read that it’s 1 cent for Prestige and .5 cents for Premier and lesser cards, but confirmation would be awesome. Thanks, credit warriors!

Re: Citi Prestige Redemption Options

ntenseone — Sat, 11 Jan 2020 07:11:53 GMT

To me it looks like $.01/$1 spent on any redemption other than airline purchases for the Premier/Prestige w/ Premier being. $.0125 on airline only.
Someone else chime in if I'm wrong.

Re: Citi Prestige Redemption Options

Anonymous — Sat, 11 Jan 2020 07:16:49 GMT

Citi Prestige statement credit or cashback redemption is 0.5 cent. Gift card 1 cent. Travel portal 1 cent.

Citi Premier is all the same except airfare through travel portal is 1.25 cent.

Re: Citi Prestige Redemption Options

kerplunk — Sat, 11 Jan 2020 15:13:02 GMT

Hi Steve,

Do you have the Citi Prestige card? I didn’t see it on your list. I was hoping someone who had the Prestige could validate the information. Google has a variety of answers. Thanks!

EDIT: When I go to this page as a "visitor" it shows:

50/5000 = $0.01 per point. Again, if anyone as the Prestige, please confirm!

EDIT 2 and CONCLUSION: It looks like that page is just an example. The actual values are different. I ended up calling Citi and they confirmed that for statement credit or for them to "mail a check" the redemption is .5 cents per point. For gift cards, it is 1 cent per point.

Re: Citi Prestige Redemption Options

Loquat — Sat, 11 Jan 2020 16:13:58 GMT

@kerplunk I do have the Citi Prestige along with the Premier, Rewards+, Double Cash, and a host of other Citi cards. To answer your question TYPs can be redeemed for cash at 1cpp. So dining and air travel when purchased with the Prestige is 5cpp when redeemed for cash.

The only TYP boost you get is if you have a Citi Premier card and redeem points for air travel through their portal which then increase the point value to 1.25cpp.

I'm probably of a select few around here who actally enjoy and to an extent prefer TYPs over MR and UR. My TYP setup is my Premier, Prestige, Rewards+, and both Double Cash cards under one TYP number so that when I redeem my points for air travel through their portal I get the benefit of getting 1.25cpp becase of my Premier card as well as the 10% redemption rebate becase of my Rewards+ (capped at 10k points back per year).

I get all of my categories covered for less than the same setup I would have to do with Chase or Amex (CSR & CSP or Amex Plat & EDP) which both are now going to bring annual fees to $645. With my Citi setup above I get dining and air travel including OTAs at 5x, fuel, hotels, and car rentals at 3x , grocery, entertainment, and all non-category spend at 2x, plus cell phone protection, a easy to use $250 travel credit all for the low-low of $590. The 2nd night hotel benefit even when capped at 2 really pushes the setup over the top for me and my Priority Pass with Citi still includes restaurants.

Granted the travel partners aren't exactly the same as Chase or Amex but Citi does have partners with each of the alliances so it works and they overlap with Chase and Citi's partners so if you have an MR earning card you can still combine.

With all that said you know there has to be a catch...and there is one...TRAVEL PROTECTION. The biggest downfall to this setup is that you'll become friends with Allianz if you want travel protection because Citi now offers NOTHING at all in the way of protecting you. That there's something to be said for that. The Citi setup may cover all the bases for cheaper than the rest but if you travel a lot the cheaper setup may mean nothing at all if you have to spend a night on those brick-like airport chairs when a flight is delayed or cancelled.

Re: Citi Prestige Redemption Options

Anonymous — Sat, 11 Jan 2020 18:05:42 GMT

@kerplunk wrote:
Hi Steve,

Do you have the Citi Prestige card? I didn’t see it on your list. I was hoping someone who had the Prestige could validate the information. Google has a variety of answers. Thanks!

EDIT: When I go to this page as a "visitor" it shows:

50/5000 = $0.01 per point. Again, if anyone as the Prestige, please confirm!

EDIT 2 and CONCLUSION: It looks like that page is just an example. The actual values are different. I ended up calling Citi and they confirmed that for statement credit or for them to "mail a check" the redemption is .5 cents per point. For gift cards, it is 1 cent per point.

I don't but my brother has the Prestige, Premier, and Double Cash. He just made a very bonehead mistake by cashing out all his Thank You points in form of a check. Not ideal!

Re: Citi Prestige Redemption Options

Anonymous — Sat, 11 Jan 2020 22:38:47 GMT

So looks like we have two different answers, Citi + Steve saying 0.5cpp when redeeming for cash (statement credit or check) and Loquat at 1cpp. Are these referring to different things?

Re: Citi Prestige Redemption Options

imaximous — Sat, 11 Jan 2020 23:25:13 GMT

@Anonymous wrote:
So looks like we have two different answers, Citi + Steve saying 0.5cpp when redeeming for cash (statement credit or check) and Loquat at 1cpp. Are these referring to different things?

I'm with @loquat. I've never actually redeemed for cash but here's a screenshot of my cart. I got curious and made a dummy redemption. 10,000 TYPs = $100

Re: Citi Prestige Redemption Options

VPExecutive — Wed, 15 Jan 2020 22:21:46 GMT

@Anonymous wrote:
So looks like we have two different answers, Citi + Steve saying 0.5cpp when redeeming for cash (statement credit or check) and Loquat at 1cpp. Are these referring to different things?

Used to be .005/point. Citi changed the redemption value to .01 cpp a year or two ago.

Re: Citi Prestige Redemption Options

kdm31091 — Wed, 15 Jan 2020 22:59:30 GMT

I thought they only gave 1cpp for cash if you have a "higher tier" card. I thought if you only have say, a Rewards+, the cashout is still 0.5cpp.

Re: Citi Prestige Redemption Options

Remedios — Wed, 15 Jan 2020 23:09:40 GMT

@imaximous wrote:
@Anonymous wrote:
So looks like we have two different answers, Citi + Steve saying 0.5cpp when redeeming for cash (statement credit or check) and Loquat at 1cpp. Are these referring to different things?
I'm with @loquat. I've never actually redeemed for cash but here's a screenshot of my cart. I got curious and made a dummy redemption. 10,000 TYPs = $100

So, you got paid for doing the experiment

Re: Citi Prestige Redemption Options

Loquat — Wed, 15 Jan 2020 23:53:27 GMT

@Remedios wrote:
@imaximous wrote:
@Anonymous wrote:
So looks like we have two different answers, Citi + Steve saying 0.5cpp when redeeming for cash (statement credit or check) and Loquat at 1cpp. Are these referring to different things?
I'm with @loquat. I've never actually redeemed for cash but here's a screenshot of my cart. I got curious and made a dummy redemption. 10,000 TYPs = $100

So, you got paid for doing the experiment

@Remedios That is just the summary page. You have another click or 2 before it's finalized.

Re: Citi Prestige Redemption Options

Remedios — Wed, 15 Jan 2020 23:57:42 GMT

I take that praise back

Re: Citi Prestige Redemption Options

imaximous — Thu, 16 Jan 2020 01:53:31 GMT

@Remedios wrote:
I take that praise back

meany

Re: Citi Prestige Redemption Options

kerplunk — Thu, 16 Jan 2020 02:56:36 GMT

5 points per dollar.

1 cent per point.

Pretty darn good, actually. Citi Prestige probably makes a lot of cents (lol) for people who spend a lot.

Re: Citi Prestige Redemption Options

K-in-Boston — Thu, 16 Jan 2020 16:03:59 GMT

@Anonymous wrote:
So looks like we have two different answers, Citi + Steve saying 0.5cpp when redeeming for cash (statement credit or check) and Loquat at 1cpp. Are these referring to different things?

The confusion comes in when you have multiple cards pooled to the same TYP account; it seems the highest redemption value among the cards is usually applied. Premier offers $0.01/TYP or $0.0125 for airfare in the portal, regardless of how the points were earned.

Re: Citi Prestige Redemption Options

kerplunk — Thu, 16 Jan 2020 23:08:21 GMT

Conclusion:

My Prestige card finally arrived. In case there was any doubt, it is indeed 1 cent per point redemption for cash (and other things).

This could be a really good card for someone who traveled a lot, but strictly wanted cash back instead of airline points.

Re: Citi Prestige Redemption Options

Loquat — Fri, 17 Jan 2020 01:05:13 GMT

@kerplunk Enjoy your new card. I like having the option of being able to transfer to Qantas for American (which is my usual transfer partner of Citi) Avianca for United, and rarely if ever do I transfer anything to SkyTeam but the option is there as well via Flying Blue. However when none of those shake out the way I need them to I hit the portal and last resort is cash. A lot of flexibility with TYPs...at least for my situation.