Citi Double Cash is making two changes to their rewards program whereby the card will earn ThankYou points directly. Previously, the card earned cash back which could be transferred to ThankYou points. Points can still be cashed out as before, at a rate of 1 cent per point which gets you 2% back per $1 spent. These changes go into effect on March 28, 2022.
- You’ll still have the option to redeem for cash, but ThankYou Points also give you other redemption options, including booking flights or hotels and more.
- Citi is eliminating the $25 minimum for direct deposits and statement credits. You’ll be able to redeem ThankYou Points for a direct deposit or statement credit with as little as 1 point.
I’m surprised at the change since it makes it more confusing for the casual ‘cashback card’ fan, their desired market, but overall these are positive changes.