Citi Premier cash out

[Loquat]

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@UncleB wrote:

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@Loquat wrote:
Nice to see this happen especially with the 25% uplift from this card that went away 4 days ago. With the 1cpp cash out it'll make it easier for some to ditch the Prestige which was previously the only route to 1cpp cash redemption.

Now if cashing out triggers the 10% points back because of the Rewards+ that'd be even better.

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According to the comments over on DoC it does. 

If one had a DC that earned TY points as well as a Rewards+ adding a Premier might make for an interesting 'trifecta' for some. 🤔

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Very nice as I'm running the quadfecta of TYP cards. The Prestige, Premier, Rewards+, and DC has been a wonderful set up for me.  I have an unhealthy love for TYPs even with the stripped benefits and the quirks that comes with Citi. 

[coldfusion]

You can't have a complete discussion of TYP without mentioning the TYP-earning Sears Mastercard.  Citi continues to roll out lucrative promotions with reasonable thresholds that make it a great earner.

[simplynoir]

Since it got brought up I had to look into it. It has been more than two years since I got the Premier so was thinking if adding it to my list (again) after Socks releases their Connect card and fact they added 1 cpp value is good enough for me to do the dance all over again

After doing a little research on timing of their 24 month rules it appears any time your card number changes even if it's just a product change it resets the clock which unfortunately applies in my case with PC to Diamond Preferred. So that plan went out the window at least for another two years 😒

[FinStar]

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@simplynoir wrote:

Since it got brought up I had to look into it. It has been more than two years since I got the Premier so was thinking if adding it to my list (again) after Socks releases their Connect card and fact they added 1 cpp value is good enough for me to do the dance all over again

After doing a little research on timing of their 24 month rules it appears any time your card number changes even if it's just a product change it resets the clock which unfortunately applies in my case with PC to Diamond Preferred. So that plan went out the window at least for another two years 😒

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Hmmmm.  So, if I'm understanding correctly, you're saying that when you PC'd your TYP into DP, this reset your 24-month clock for getting the SUB again?  I was under the impression once you passed the 24-month timeframe, you were good.  Is this coming from DoC, FT, or...?

[TheFIGuy]

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@longtimelurker wrote:

DoC reports you can now cash out TYP at 1c per point with Premier.

https://www.doctorofcredit.com/citi-premier-adds-cash-out-option-at-one-cent-per-point/

While transferring might still get better value, that seems a good safety net, like Chase 1cpp for UR cashout.

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Update from DoC - You can redeem down to the point now as well (e.g., 2,541 points = $25.41 – before you had to redeem in increments).—https://www.doctorofcredit.com/citi-premier-adds-cash-out-option-at-one-cent-per-point/

I'm curious about how AMEX responds; they're the last major issuer standing with arguably piss poor evaluation at .06cent per 1MR points. I have the CS platinum for a 1.25cpp per 1MR point and want to see if AMEX increases their in-house evaluation to 1cent per 1MR point. Will Charles update theirs, can I dream of 1.5cpp per 1MR point 

I actually already know how they will respond: Raise the AMEX Platinum annual fee and keep all the MR point and cashout options the same.

[simplynoir]

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@FinStar wrote:

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@simplynoir wrote:

Since it got brought up I had to look into it. It has been more than two years since I got the Premier so was thinking if adding it to my list (again) after Socks releases their Connect card and fact they added 1 cpp value is good enough for me to do the dance all over again

After doing a little research on timing of their 24 month rules it appears any time your card number changes even if it's just a product change it resets the clock which unfortunately applies in my case with PC to Diamond Preferred. So that plan went out the window at least for another two years 😒

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Hmmmm.  So, if I'm understanding correctly, you're saying that when you PC'd your TYP into DP, this reset your 24-month clock for getting the SUB again?  I was under the impression once you passed the 24-month timeframe, you were good.  Is this coming from DoC, FT, or...?

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@FinStar  mix of DoC and some other sources. I'll look back at it tomorrow to confirm but that's how I understood it. I can't recall when exactly I PC my Premier to DP but I didn't officially earn the SUB til January 2019 I think. And I PC'd the Premier before the AF posted which was December so regardless I may be SOL 😐

[FinStar]

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@simplynoir wrote:

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@FinStar wrote:

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@simplynoir wrote:

Since it got brought up I had to look into it. It has been more than two years since I got the Premier so was thinking if adding it to my list (again) after Socks releases their Connect card and fact they added 1 cpp value is good enough for me to do the dance all over again

After doing a little research on timing of their 24 month rules it appears any time your card number changes even if it's just a product change it resets the clock which unfortunately applies in my case with PC to Diamond Preferred. So that plan went out the window at least for another two years 😒

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Hmmmm.  So, if I'm understanding correctly, you're saying that when you PC'd your TYP into DP, this reset your 24-month clock for getting the SUB again?  I was under the impression once you passed the 24-month timeframe, you were good.  Is this coming from DoC, FT, or...?

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@FinStar  mix of DoC and some other sources. I'll look back at it tomorrow to confirm but that's how I understood it. I can't recall when exactly I PC my Premier to DP but I didn't officially earn the SUB til January 2019 I think. And I PC'd the Premier before the AF posted which was December so regardless I may be SOL 😐

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Ah gotcha @simplynoir.  Well, I'm curious about the restriction (or how other folks have shared such experiences on DoC or elsewhere), because the disclaimer's last sentence on the TYP page doesn't explicitly mention anything about a product change, unless Citi is considering a PC an account closure? 😵

"Bonus ThankYou® Points are not available if you received a new cardmember bonus for Citi Rewards+®, Citi ThankYou® Preferred, Citi ThankYou® Premier/Citi Premier® or Citi Prestige®, or if you have closed any of these accounts, in the past 24 months."

[simplynoir]

The way that's worded and confirmation from TPG that Citi considers any PC where the card number changes a resetting of the clock is what makes me think I'm out of luck here. If I had waited til after January of this year to do it I'd roll the dice on an app but that's too many it's for me to risk. I'll look more closely tomorrow and report back with links assuming I don't get bamboozled at work

[NRB525]

I followed the DoC link and the update is that this earlier 1cpp redemption was a glitch. 

[MrDisco99]

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@K-in-Boston wrote:

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Edit: Since you did a PC and didn't actually close the account, you may be eligible 24 months after the SUB.  I closed mine though, so even though it's been over 3 years since I opened it I have almost 2 years of waiting.

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According to DPs I've seen, a PC to a non-TYP-earning product will reset the clock.  This includes the DC, despite its cash rewards being convertible to TYP.

Also, I can confirm that I was able to get a SUB approval 24 months after the previous approval.  I didn't have to wait until the previous payout.  I'm on my third Premier card and just earned my 80K.  I've applied every two years like clockwork.  I got 50K in 2017 and 60K in 2019.  Not bad for $95/year (waived in 2017).  I do any other card downgrades or cancellations the same day after getting the new one approved.

It makes sense that they would enable 1cpp on the Premier.  The NAF DoubleCash and CustomCash already allow you to redeem at 1cpp anyway.

I did just renew my Amex Gold last month... but my Citi TYP quad-fecta is making me seriously question whether it's worth it going forward.