Citi added the option to redeem Citi ThankYou points for 1¢ for Citi Premier cardholders. Between May 23 and July 1, 2021 you could also redeem for 1¢ per point if you were a Citi Preferred cardholder, this was then changed back to 0.5¢ per point. Citi has now sent an e-mail out to cardholders stating this was an error:
Between May 23, 2021 and July 2, 2021 you redeemed ThankYou Points for one or more
cash rewards. Our records indicate you received a larger cash reward based on what the
redemption value should have been at the time you redeemed.
We have corrected this issue going forward but we will not make any changes to your
prior order(s), so please enjoy the extra cash rewards you received.
We apologies for any confusion.
Hat tip to Ben