Citi introduces an innovative new way to take away your ThankYou points



Citibank has a number of credit card and banking products that earn “ThankYou” points.  If you have a Citi ThankYou Premier card, ThankYou points are worth 1.25 cents each towards airfare.  In most other situations, ThankYou points are worth 1 cent each towards travel, gift cards, merchandise, mortgage payments, or student loan payments.  Then there are ways to get less than 1 cent per point value…

Citi has added a new option to the ThankYou program.  You can now request a “Reward Account Number” which is a virtual Visa or MasterCard number that can be used anywhere online that accepts Visa or MasterCard cards.  At first I thought that was pretty cool because I could use it to pay my insurance and other bills, and possibly do Amazon Payments for (I thought) 1 cent per point value.

By exploring online, I tried to find out the value you’d get from points through this new option, but I couldn’t find that info anywhere.  I then tried to setup a Rewards Account Number so that I could see myself, but I received a “server not available” error.  Luckily, I received a press release about this new “benefit” and found this:

Log in to your ThankYou Rewards account to generate a Rewards Account Number for the desired amount of your available ThankYou Points. For example, select 10,000 ThankYou Points to be used for a statement credit of $75.00 towards your purchase.

So, when points are used in this way, you’ll get just 3/4 of a penny per point value.  While I applaud Citibank for coming up with an innovative new way to use points, I hate that they’re essentially tricking customers into using points for far less than they’re worth.  My advice: don’t do it.

Please enter all required fields Click to hide
Correct invalid entries Click to hide
Notify of

This site uses Akismet to reduce spam. Learn how your comment data is processed.

newest most voted
Inline Feedbacks
View all comments