When it comes to traveling, credit card points can really help people take vacations that they couldn’t normally afford. That’s my personal favorite part about points in any case! But what if you either don’t travel too much, or don’t have any travel plans for a while (2 years +)? Ideally, I would say you should hold onto the points and accumulate as many as you can until you are ready to travel. However, some people may see all of these untapped points as extra cash they could use for something else.
Unfortunately, more times than not, companies do not give you 1 cent per point, infact they are usually much less! Luckily, Citi is offering another way for people to cash out their points.
Citi is launching a Pay with Points program. The program allows you to get 0.8 cents per ThankYou point. Basically you set up a push notification after you make a purchase in the corresponding category. The notification allows you to pay for the purchase you just made with your ThankYou points at 0.8 cents per point. The qualifiying categories include:
- clothing & department stores
If you value Citi’s ThankYou points at 1.7 cents per point (TPG) then this is a terrible deal. As we already know, you can get much more value for your points if you just redeem the points for traveling. With this program, you would be getting less than half of the value of redeeming it for travel.
That being said, there are people out there that have no use for points in any other way, getting straight cash isn’t the worst thing in the world. But you could always buy gift cards or something that would at least give you 1.0 cent per point, be smart about redeeming points!
Are you going to be using the new Pay With Points Program? Let us know below!