Citi Double Cash Dollars Officially Transferable to ThankYou Points at 1:1

Just a couple of weeks ago, we reported that Citi will soon be allowing people with the Double Cash credit card the ability to turn its reward dollars into ThankYou points. As of September 23rd, 2019, that looks like its the case! With the official launch of this ability, there are some additional details that you should be aware of. 

The Additional Details

We knew ahead of time that Citi would allow us to transfer the Cash Dollars into ThankYou Points. Now that it’s officially launched, here are the missing details:

  • Transfer between Citi Double Cash and any ThankYou Points earning card will happen at a 1:1 rate. This includes the Prestige and Premier 
  • If you have another ThankYou Point earning card, they will transfer at that 1:1 rate to that Citi Card. If you do not have another ThankYou point earning card, they will transfer over to JetBlue at 1:0.8. 

It also looks like once you transfer from cash back to points, you will be stuck with the points (you can’t go from points to cash back at the same rate)

Final Thoughts

Of course, transferring your cash back earned from the DoubleCash card is only really useful if you have other Citi ThankYou cards like the Prestige or Premier. If you do, you can transfer them at a nice 1:1 rate, and then use those cards to transfer points out to whichever transfer partner you’d like. If you do not already have one of those cards, then it may be worth considering picking up one of them. Maybe you could even build out a Citi Trifecta? 

If you aren’t interested in a Citi Trifecta, then you would be stuck transferring these points at a little bit of a loss to JetBlue. At that point you may as well keep them and use them for something else, or hang on to them just in case you decide in the future to get one of those cards. Regardless of which route you end up going, make sure you’re getting good value from anything you redeem!

Are you going to be building out a Citi Trifecta? Let us know down in the comments below how this change impacts you and your credit card strategy moving forward. 

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