Two Reddit users report that Citi Premier cardholders can now cash out ThankYou points at one cent per point using the Cash Rewards or Statement Credit options. (More Ways to Redeem > Cash Rewards or Statement Credit)
Back in 2017, Citi added the option for Prestige cardholders to cash out ThankYou points at 1-cent-per-point, and now they seem to be implementing the same for Premier cardholders. Other Citi cards get just .5 cents per point when cashing out ThankYou points. There were always creative ways of the getting the 1 CPP, but this makes everything easier.
Perhaps this is to make up for the negative change of losing the 25% travel center bonus which was just implemented. It is odd that we haven’t heard anything yet from Citi directly about the change.