Citi rewards+ now live anyone going for it?

[Anonymous]

Hey everyone I was just hoping to get some data points on the Citi rewards+ card mainly which CR they pulled if it was either EQ or EX or both thanks alot any info would be greatly appreciated.

[Remedios]

https://ficoforums.myfico.com/t5/Credit-Cards/Citi-rewards-now-live-anyone-going-for-it/m-p/5463508#...

[minski]

Since the Citi Rewards card came out, has anyone been able to PC a Citi card to something other than that such as the Double Cash? This is the 2nd time this year that I've called and they won't allow a PC to the Double Cash; they keep pushing the Citi Rewards. I'm really annoyed because I went on chat to ask if I had an offer and they said yes, if you call us. And then when I call, they are like, no, you don't have an offer to convert to the DC but the Rewards!

[Anonymous]

I've gotten several mailers and emails trying to get me to PC my DP to the DC and new Rewards card. But it's probably promotional.

[dunsplus]

applied few days ago they pulled experian based on experian website my fico score 8 was 705 got approved for 5.6k limit

[ChargedUp]

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@K-in-Boston wrote:

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@K-in-Boston wrote:

Am I missing something?

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Possibly I am.  When I actually click Redeem or Point Summary on that 0 point account, it takes me a screen that shows that I have 17,100 points (already used around 75k for airfare purchase a while back), but where it reads "Your current ThankYou Member account includes the following account(s) listed below" it only shows my Premier.  So should I just expect the Rewards+ to show up there sometime in the next few days?

Also curious as to whether the 10% Point Back will stack with the usual Premier redemptions?  If so, that's effectively 1.11:1 on FlyingBlue and Virgin Atlantic or 1.39 cents per point on airfare redemptions, or 6.94% back toward airfare on 5 TYP per dollar purchases.

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When I sign into my Chase accounts, my home page shows my cumulative UR points from both CSP and FU. When I click into either of the cards, it shows the point total that I've earned on that card itself. It sounds like Citi is doing something similar. I only have one MR card (Gold) so I can't really say as far as Amex.

Not being able to pool your TY points from different products would be counter-intuitive to the whole idea of a Citi branded "point" system. A TY point is a TY point no matter what product earned it and you should be able to redeem them as a whole when desired.

[kdm31091]

Citi does not automatically link your Thankyou accounts for some reason. Sometimes they will create distinct accounts for each Thankyou card. I don't know why anyone would want it that way, but whatever.

You can call and have it all combined so it all pools into one account, but it will not automatically combine itself.

[longtimelurker]

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@kdm31091 wrote:

Citi does not automatically link your Thankyou accounts for some reason. Sometimes they will create distinct accounts for each Thankyou card. I don't know why anyone would want it that way, but whatever.

You can call and have it all combined so it all pools into one account, but it will not automatically combine itself.

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It's been a while since I had TYP, but from what I recall, points are treated differently depending on their source.  So unlike UR, which, when pooled, become the same, TYPs remember their origin, so points from Preferred are worth less/more restricted than points from Prestige etc.  At least that's what I remember

[yfan]

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@Loquat wrote:

It'll definitely be interesting to see how long the 10 point round up sticks around.  At work just about every vending and coffee machine has a option to use credit card/apple pay.  If Citi had any transfer partners worth my time I would certainly get this card and would be part of the reason they nerf'd it as I'd eat them alive on my $1.00 vending machine gum/lifesaver/sunflower seed purchases.  

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Actually, this is an instance Citi has thought of for this card, and it actually works out in their favor. Why? Because swipe fees are not, generally speaking, a flat percentage of transactions. It is a flat fee plus a flat percentage. The flat fee is the same regardless of the amount of the transaction, and because of that, the flat fee is a much more significant revenue maker in smaller transactions. They're giving you back just some of that flat fee. I'll demonstrate with an example:

Let's say the formula is $0.10 + 1.8% for a given merchant.

• For a $1 transaction, Citi gets 11.8 cents, and gives you 10 points.
• For a $5 transaction, Citi gets 19 cents and still gives you 10 points.
• For a $10 transaction, Citi gets 28 cents and you still get 10 points.

There are basically no scenarios where Citi loses money on these transactions, even at the very small purchase amounts. Add to that that swipe fees can often be higher at places where small transactions are most common, like convenience stores and vending machines, and I don't see Citi having any problems with abuse here.

Add to this the fact that these are points rather than cashback and Citi has ways of slowing down the actual payout of rewards (minimum point redemption, varying the value of the points based on what they're redeemed on, etc.). I think Citi is actually being pretty smart with this card.

[Loquat]

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@yfan wrote:

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@Loquat wrote:

It'll definitely be interesting to see how long the 10 point round up sticks around.  At work just about every vending and coffee machine has a option to use credit card/apple pay.  If Citi had any transfer partners worth my time I would certainly get this card and would be part of the reason they nerf'd it as I'd eat them alive on my $1.00 vending machine gum/lifesaver/sunflower seed purchases.  

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Actually, this is an instance Citi has thought of for this card, and it actually works out in their favor. Why? Because swipe fees are not, generally speaking, a flat percentage of transactions. It is a flat fee plus a flat percentage. The flat fee is the same regardless of the amount of the transaction, and because of that, the flat fee is a much more significant revenue maker in smaller transactions. They're giving you back just some of that flat fee. I'll demonstrate with an example:

Let's say the formula is $0.10 + 1.8% for a given merchant.

• For a $1 transaction, Citi gets 11.8 cents, and gives you 10 points.
• For a $5 transaction, Citi gets 19 cents and still gives you 10 points.
• For a $10 transaction, Citi gets 28 cents and you still get 10 points.

There are basically no scenarios where Citi loses money on these transactions, even at the very small purchase amounts. Add to that that swipe fees can often be higher at places where small transactions are most common, like convenience stores and vending machines, and I don't see Citi having any problems with abuse here.

Add to this the fact that these are points rather than cashback and Citi has ways of slowing down the actual payout of rewards (minimum point redemption, varying the value of the points based on what they're redeemed on, etc.). I think Citi is actually being pretty smart with this card.

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@yfan Since this post I have picked up this card and I use it exactly as I previously stated.  Citi may also be winning but I'm not losing on this one either.  The points rack up fast and I already have the Prestige and the Premier so I shift points as necessary.  The Premier gets 25% bump when using for airfare so the points from the Rewards+ sit until I'm ready use them.  When I book via the TY Portal I transfer the points to my Premier card and get the extra bump.  

I'm happy that you point out that Citi is also winning...maybe since we're both winning then they may be less likely to get angry as I'm burning them for these points.