You can convert Citi rewards® Double Cash to ThankYou Points®

Citi has changed the terms of its popular Citi® Double Cash Card to allow cashback rewards to be converted into ThankYou points® - expanding cardholder conversion options.Citi recently restored some of the top benefits on some of its cards. This change may show that Citi is scrutinized some of the features of its cards.

Want to know more?What are the details of this change?

Why is Citi doing this?What are the details of this change?

Citi® Double Cash cardholders can now convert a $1 cash reward into 100 ThankYou points, according to Citi's customer service representative. To redeem and redeem points, you can visit Citi's ThankYou Rewards portal. But your gift redeeming option is currently limited to gift cards, according to representatives.

However, if in addition to the Citi® Double Cash Card, you have other Citi cards that use the ThankYou points currency, you can transfer your redeemed ThankYou points to those cards and redeem benefits other than gift cards, including travel.

Why is Citi doing this?

Citi's move to change the terms of the Citi® Double Cash Card came after many Citi card benefits were eliminated on certain cards. Some of the benefits Citi has cut recently include Rewinding Citi prices, protecting cancellations and trip disruptions, as well as other car and travel protections.

As The Wall Street Journal reported earlier this year, credit card issuer companies have struggled to keep their cashback and rewards cards profiteering because customers don't carry monthly balances or don't use them as often as they expect.
As a result, Citi may have changed the terms of its rewards for Citi Cards® Double Cash because they found that customers were more likely to use the card when they had rewards that encouraged them to spend.

This can also be a way to give current and future Citi® Double Cash Cardholders more motivation when applying for an additional ThankYou points-based bonus card such as a Citi Premier Card or Citi Prestige Card®.

In any case, this change from Citi will expand your conversion options with the Citi Card® Double Cash. But time will come to answer whether it's an effective strategy to get cardholders to spend more or sign up for additional rewards cards through Citi.