No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
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?
@Anonymous 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.
@stan_the_man wrote:
@Anonymous 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.
@Anonymous wrote:
@stan_the_man wrote:
@Anonymous 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.
@UFGuy2006 wrote:
@Anonymous wrote:
@stan_the_man wrote:
@Anonymous 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.
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%
@Anonymous 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.
Don't forget the 5x points on Amazon as well.
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!
@Anonymous 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 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!!