Citi product change question: Downgrading from Strata or Premier to Rewards+

[TyrannicalDuncery3]

I'm thinking of going for Strata next year. After a  year, I was hoping to downgrade to Rewards+, keep the points and redeem them for +10%. (I only care about statement credit.) Based on google, I think this will work. Am I wrong? Any pitfalls?

If I don't hear back, I'll probably try it next year and let you know how it goes.

[ptatohed]

T,

What is special about the Strata Premier?  Just the 75,000 intro bonus?  Or something else?  

I believe the Strata Premier is similar to the Rewards+ in that the TY points are not 1cpp when redeemed for cash.  So, if you want 1cpp, I think you'll have to link it (and/or your future R+) to another citi card such as DC or CC to be able to redeem for 1cpp (or 1.1cpp when linked with the R+).  

[TyrannicalDuncery3]

Thanks! Wow, I didn't realize that. Nothing special about Strata other than intro bonus and ability to downgrade to a Citi that I would actually want. I do indeed want statement credit, you know me quite well.

So you're saying I could transfer the 75k points from Strata to DC or something, then back to Rewards+? I'll have to read up on this more. Thanks for saving me from a rash decision.

[ptatohed]

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@TyrannicalDuncery3 wrote:

Thanks! Wow, I didn't realize that. Nothing special about Strata other than intro bonus and ability to downgrade to a Citi that I would actually want. I do indeed want statement credit, you know me quite well.

So you're saying I could transfer the 75k points from Strata to DC or something, then back to Rewards+? I'll have to read up on this more. Thanks for saving me from a rash decision.

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Yeah, if I remember correctly, before linking my R+ with my CC and DC, it would only redeem at .5cpp for cash.  When you link the R+ with CC / DC, the R+ gets the benefit of 1cpp redemption and the CC and DC get the power of 10% boost each cash redemption (up to $100 extra CB per year).  Win win.  

I'm guessing (don't know for sure) that the Strata Premier would give CB at .5cpp as well.  And I can only guess (don't know for sure) that if you link the SP to a DC or CC, it can then be cashed out at 1cpp. 

No, it's not a 'transfer' per se.  You simply link all your cards.  The DC and CC will link automatically because they are in the same family.  If you link a R+ (I can confirm) or a SP (I can only speculate), then your TYPs are all pooled together.  You need to call to link your R+ with your other cards.  

[coldfusion]

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@ptatohed wrote:

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I'm guessing (don't know for sure) that the Strata Premier would give CB at .5cpp as well.  And I can only guess (don't know for sure) that if you link the SP to a DC or CC, it can then be cashed out at 1cpp. 

No, it's not a 'transfer' per se.  You simply link all your cards.  The DC and CC will link automatically because they are in the same family.  If you link a R+ (I can confirm) or a SP (I can only speculate), then your TYPs are all pooled together.  You need to call to link your R+ with your other cards.  

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The Premier redeems  for cash at 1 pp.     When you join multiple cards into a single TYP account all existing TYP are merged into that single account and all new TYP earned from that point forward from any card attached to that pool are placed in that shared pool.   IIRC when I first created my shared pool I had to designate which card was the primary but that was long enough ago that I can't remember for sure.

If you already have TYP with your R+ and you link it with existing cards that also have TYP all the points get rolled in together into the single account.

Making sure that all your TYP earners are linked together into a single TYP account at worst takes a phone call and if appropriate all points will be consolidated into that single account, none fall onto the floor. 

[UncleB]

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@TyrannicalDuncery3 wrote:

I'm thinking of going for Strata next year. After a  year, I was hoping to downgrade to Rewards+, keep the points and redeem them for +10%. (I only care about statement credit.) Based on google, I think this will work. Am I wrong? Any pitfalls?

If I don't hear back, I'll probably try it next year and let you know how it goes.

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I've had the Premier twice, and both times I downgraded with no drama.

The only notable thing I specifically remember from the second time (earlier this year) is that I had to wait for the AF to post before I had the option do make the change.  The AF was then refunded to my newly PCed Custom Cash account shortly after the conversion.

When you get the new card, make sure your TYP accounts are all linked like others have mentioned.  I currently have a DC, two CCs, and a Rewards+ account all linked together under a single TYP account.

Edited to add:  I may have jumped the gun with assuming you already have another Citi account; if so please disregard that part but the details about the downgrade still apply.

[Anonymous]

@TyrannicalDuncery3 

The Citi cards are a long game setup.

If you start with the Strata and PC it you lose the sign up bonus of the "PCed to" card unless you already have one; like the Custom.
In this case (Rewards+) it is 20,000 points (which alone seems to be .5 cpp) and 18 month 0% APR intro.

And you would only be looking to gain an extra 7500 from the Stratas points from the 10% Rewards+ redemption on top of sitting on the Stratas sub points for a year to PC it in hopes it all works.

Also, the Rewards+ really is a companion card.

I would suggest

• Start with a Citi Custom for the $200 sub and 15 month 0% APR intro
• Later date app for the Rewards+ 20,000 points and 15 month 0% APR intro. Will be a true $200 sub when tied to the Custom and makes the Custom 5.55%
• Later date app for the Strata and makes the sub $825 (Based on 75,000 sub)
• One year later PC the Strata into your 2nd Custom

[unsungivy]

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@TyrannicalDuncery3 wrote:

Thanks! Wow, I didn't realize that. Nothing special about Strata other than intro bonus and ability to downgrade to a Citi that I would actually want. I do indeed want statement credit, you know me quite well.

So you're saying I could transfer the 75k points from Strata to DC or something, then back to Rewards+? I'll have to read up on this more. Thanks for saving me from a rash decision.

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Planning for ahead for next year does not come under the description of "rash decision." 🤣

[TyrannicalDuncery3]

Thanks for everybody's help! It sounds like there are two big downsides to my original plan, they are kind of all summarized in Schmidt's plan.

1. Opportunity cost: No more shot at getting the SUB/intro APR from Rewards+, one less chance to try to P/C into an extra CC.
2. I don't have any other TYP cards. So if I start with Strata and downgrade to Rewards+, I will no longer have the Strata so I probably won't have the 1cpp for cash anymore.

I will also note that I've seen scattered reports on reddit that Citi may be cracking down on P/Cs into CCC (but maybe those people are speculating/reacting to anecdotes).

So y'all have convinced me to play more of a long game.

[SouthJamaica]

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@ptatohed wrote:

T,

What is special about the Strata Premier?  Just the 75,000 intro bonus?  Or something else?  

I believe the Strata Premier is similar to the Rewards+ in that the TY points are not 1cpp when redeemed for cash.  So, if you want 1cpp, I think you'll have to link it (and/or your future R+) to another citi card such as DC or CC to be able to redeem for 1cpp (or 1.1cpp when linked with the R+).  

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I have the Strata Premier. The TYP's are 1 cpp when redeemed for cash.