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It's been one month since Citi devalued the transfer ratio to Preferred Hotels’ I Prefer Rewards program by 50%.
Prior to April 19, 2026, anyone with a premium Citi credit card could transfer Citi ThankYou Points to I Prefer Hotel Rewards at a 1:4 ratio. In other words, 1,000 ThankYou Points equaled 4,000 I Prefer points. Now, cardholders transfer at a 1:2 ratio, so 1,000 ThankYou Points equal 2,000 I Prefer points.
To lessen the sting of this devaluation, Citi has launched a 30% transfer bonus to I Prefer through June 13, 2026. That means you'll get 2,600 I Prefer points for every 1,000 Citi ThankYou Points you transfer. While that's still not as good as before, this first-ever Citi-I Prefer transfer bonus could be worth considering. Here's what you need to know.
Preferred Hotels I Prefer 30% Citi Transfer Bonus Key Terms
- Get 30% bonus points when you transfer Citi ThankYou Points to Preferred Hotels I Prefer Hotel Rewards now through 11:59 pm ET on June 13, 2026.
- Points must be transferred in increments of 1,000 Citi ThankYou points.
- There is no limit to the number of points you can transfer under this promotion.
Citi makes it easy to see how many I Prefer points you'll receive based on the number of Citi ThankYou Points you transfer. Simply move the slider to see the number of points Citi will deposit into your account when you complete a transfer, along with the number of ThankYou Points you'll have left.
Citi transfer ratios to I Prefer during this transfer bonus
The ratio you'll receive when transferring Citi ThankYou Points to partners depends on which credit card you hold. The more premium cards offer the best transfer ratios, regardless of a transfer bonus. However, this transfer bonus increases the rate to 2.6 I Prefer Points per 1 ThankYou Point transferred from the following cards:
- Citi Strata Elite℠ Card
- Citi Strata Premier® Card
- Citi Prestige® Card
- AT&T Access More Card from Citi
$595Rates & Fees
- 12X – Earn 12 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on cititravel.com.
- 6X – Earn 6 Points per $1 spent on Air Travel booked on cititravel.com.
- 6X – Earn 6 Points per $1 spent at Restaurants including Restaurant Delivery Services on CitiNights℠ purchases, every Friday and Saturday from 6 PM to 6 AM ET. Earn 3 Points per $1 spent any other time.
- 1.5X – Earn 1.5 Points per $1 spent on All Other Purchases.
$95Rates & Fees
- 10X on Hotels, Car Rentals, and Attractions booked through CitiTravel.com
- 3X – Earn 3 Points per $1 spent on Air Travel and Other Hotel Purchases
- 3X – Earn 3 Points per $1 spent on Restaurants
- 3X – Earn 3 Points per $1 spent on Supermarkets
- 3X – Earn 3 Points per $1 spent on Gas and EV Charging Stations
- 1X – Earn 1 Point per $1 spent on All Other Purchases
If you have a no-annual-fee Citi card, you'll still be able to take advantage of this transfer bonus. However, you'll receive 1.82 I Prefer points for each 1 ThankYou Point transferred, with this 30% bonus.
- Citi Strata℠ Card
- Citi Double Cash® Card
- Citi Custom Cash® Card
- Citi ThankYou® Preferred Card
- AT&T Access Card from Citi
- AT&T Points Plus® Card
- 5X – Earn 5 ThankYou® Points for each $1 spent on Hotels, Car Rentals and Attractions booked on Citi Travel℠ via cititravel.com
- 3X – Earn 3 ThankYou® Points for each $1 spent in an eligible Self-Select Category of your choice (Fitness Clubs, Select Streaming Services, Live Entertainment, Cosmetic Stores/Barber Shops/Hair Salons, or Pet Supply Stores). Choose your eligible Self-Select Category on Citi Online or by calling customer service. The default Self-Select Category is Select Streaming Services.
- 3X – Earn 3 ThankYou® Points per $1 spent at Supermarkets
- 3X – Earn 3 ThankYou® Points per $1 spent on Select Transit purchases
- 3X – Earn 3 ThankYou® Points per $1 spent at Gas and EV Charging Stations
- 2X – Earn 2 ThankYou® Points per $1 spent at Restaurants
- 1X – Earn 1 ThankYou® Point per $1 spent on All Other Purchases
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time.
Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
$0
- Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent
- 1% cash back thereafter, plus, you'll earn unlimited 1% cash back on all other purchases
- No rotating bonus categories to sign up for – as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.
- Eligible spending categories are: Restaurants, Gas Stations, Grocery Stores, Select Travel, Select Transit, Select Streaming Services, Drugstores, Home Improvement Stores, Fitness Clubs and Live Entertainment.
- Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal.
Is It Worth Transferring Citi ThankYou Points to I Prefer Points?
On average, AwardWallet users redeem Citi ThankYou Points for 2.31¢ apiece. However, in a recent deep dive, we found that I Prefer Rewards are worth an abysmal 0.2¢ each. So, even with a 30% transfer bonus, you're still likely to lose value.
Despite this transfer bonus, it makes more sense to book travel through Citi Travel and redeem your rewards at a flat rate of 1¢ apiece. Or, you can use your Citi Strata Elite to pay for your hotel through the travel portal to earn 12 ThankYou Points per $1 spent, which is a much better return on investment.
The Preferred Hotels and Resorts program is still worth looking into. Preferred Hotels prices award nights at one of six rates:
- 15,000 points
- 30,000 points
- 50,000 points
- 75,000 points
- 100,000 points
- 150,000 points
So, if you happen to find a hotel that charges a high cash rate and low points rate, you might be able to come out ahead after leveraging the transfer bonus.
Also, keep in mind that you can book many Preferred Hotels and Resorts properties with Choice Privileges points — sometimes with better availability than directly through I Prefer, and often using far fewer points. And without a transfer bonus, you can transfer your Citi ThankYou Points to Choice Privileges at a 1:1.5 ratio if you hold a premium card (or a 1:1.05 ratio if you hold a no-annual-fee card). Before completing a transfer to I Prefer, make sure to compare the award cost through Choice Privileges.
I Prefer Points Expiration Policy
Before you transfer points between programs, it's important to understand the applicable points expiration policy. Your I Prefer points will expire after 24 months of inactivity. You can prevent expiration by earning or redeeming points on qualifying stays. However, your Citi ThankYou Points won't expire as long as your account is open and in good standing.
If you decide to transfer your points, or you earn I Prefer points through stays, make sure to link your I Prefer account to AwardWallet so you can be notified of upcoming point expirations.
Don't have an AwardWallet account yet? Sign up for free and track unlimited rewards programs and travel plans.
How To Earn Citi ThankYou Points
If you need a stash of Citi ThankYou Points to transfer to Preferred Hotels & Resorts, your best option would be to apply for the Citi Strata Elite. New cardholders can earn 75,000 bonus points after spending $6,000 in the first 3 months of account opening.
Plus, you'll earn the following on your purchases:
- 12X – Earn 12 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on cititravel.com.
- 6X – Earn 6 Points per $1 spent on Air Travel booked on cititravel.com.
- 6X – Earn 6 Points per $1 spent at Restaurants including Restaurant Delivery Services on CitiNights℠ purchases, every Friday and Saturday from 6 PM to 6 AM ET. Earn 3 Points per $1 spent any other time.
- 1.5X – Earn 1.5 Points per $1 spent on All Other Purchases.
The rewards you earn with the Citi Strata Elite will transfer to I Prefer at a 1:2.6 ratio through June 13, 2026.
- Earn 75,000 bonus Points after spending $6,000 in the first 3 months of account opening.
- Earn 12 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on cititravel.com and 6 Points per $1 spent on Air Travel booked on cititravel.com
- Earn 6 Points per $1 spent at Restaurants including Restaurant Delivery Services on CitiNights℠ purchases, every Friday and Saturday from 6 PM to 6 AM ET. Earn 3 Points per $1 spent any other time
- Earn 1.5 Points per $1 spent on All Other Purchases
- Up to $300 Annual Hotel Benefit: Each calendar year, enjoy up to $300 off a hotel stay of two nights or more when booked through cititravel.com.
- No Foreign Transaction Fees
- 12X – Earn 12 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on cititravel.com.
- 6X – Earn 6 Points per $1 spent on Air Travel booked on cititravel.com.
- 6X – Earn 6 Points per $1 spent at Restaurants including Restaurant Delivery Services on CitiNights℠ purchases, every Friday and Saturday from 6 PM to 6 AM ET. Earn 3 Points per $1 spent any other time.
- 1.5X – Earn 1.5 Points per $1 spent on All Other Purchases.
Bottom Line
Citi just launched its first-ever transfer bonus to Preferred Hotels & Resorts. However, even with the 30% transfer bonus, the transfer ratio is still lower than it was at the beginning of the year. You'll need to carefully do the math to determine whether a transfer makes sense. If you do find a good redemption option, make sure to complete your transfer by June 13, 2026, to take advantage of the bonus.
For rates and fees of the cards mentioned in this post, please visit the following links: Citi Strata Elite℠ Card (Rates & Fees), Citi Strata Premier® Card (Rates & Fees), Citi Strata℠ Card (Rates & Fees), and Citi Double Cash® Card (Rates & Fees)
