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It's not every day that we get news about a rewards program adding a new transfer partner, so this moment is exciting. Citi just introduced its fifth hotel and 21st overall ThankYou® transfer partner: Preferred Hotels & Resorts. Starting today, you can transfer Citi ThankYou Points to the I Prefer loyalty program.
But is this a transfer partner you should use? Or is it one to forget? Here's what you need to know about Citi's newest hotel transfer partner.
Transfer Citi ThankYou Points To Preferred Hotels & Resorts at 1:4
There's a new way to redeem Citi ThankYou Points, courtesy of Preferred Hotels & Resorts. The Preferred footprint spans over 600 properties in more than 80 countries, and starting today, you can use Citi points to book stays at Preferred properties.
Citi's published transfer ratio to I Prefer is 1:4. That means you'll earn four I Prefer points per Citi ThankYou point you convert. That's a generous-looking ratio, but that's because of what I Prefer points are worth.
On most I Prefer redemptions, you'll get about 0.2 cents per point. In other words, per Citi ThankYou Point you transfer over, you'll earn 0.8 cents worth of value that you can put toward free or discounted nights.
Should You Transfer Citi ThankYou Points To Preferred Hotels & Resorts?
Compared to other popular hotel loyalty programs, Preferred Hotels & Resorts' I Prefer program is less well-rounded. The latter offers excellent elite benefits and has a solid network of properties in its portfolio but falls short when it comes to point redemptions.
It's pretty challenging to find award space for I Prefer hotels. The program advertises that free nights start at 15,000 points — which would be 4,000 Citi points — but you'll be hard-pressed to find a night you can book wholly with points.
You might encounter a points and cash option, but you should avoid this booking method unless you're simply interested in booking an I Prefer property for less than the sticker price.
A potential workaround for booking I Prefer hotels with points is to call and inquire about points-only rates, but that requires a fair amount of effort and research. Alternatively, you could try booking your intended Preferred property through Choice Privileges, which offers redemptions at participating properties.
But if all that is just too much of a hassle, Citi partners with four other hotel programs that are easier to navigate — and generally offer better value for your points.
Additionally, AwardWallet users tend to redeem Citi ThankYou Points for 2.19¢ apiece, which is a far cry from the 0.8 cents in value you'll unlock per Citi point you transfer to Preferred Hotels & Resorts. Thus, transfers might be worth avoiding unless you have a strong use case for initiating one, such as topping off your account for a specific redemption.
How To Earn Citi ThankYou Points
Whether you're interested in leveraging Citi's newest hotel transfer partner or stocking up for other redemptions, it's important to consider how to earn Citi ThankYou Points. The best way to do so is to apply for a ThankYou Point-earning card and earning a sign-up bonus and creating a credit card pairing to supercharge your earnings on all kinds of spending.
Collecting a sign-up bonus is the best way to earn a lot of points quickly. Here's a look at the welcome bonuses on multiple ThankYou Point cards available now:
- Citi Strata Premier℠ Card: Earn 60,000 bonus ThankYou® Points after spending $4,000 in the first 3 months of account opening, redeemable for $600 in gift cards or travel rewards at thankyou.com.
- Citi Rewards+® Card: Earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com
- Citi Custom Cash® Card: Earn $200 in cash back after you spend $1500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® points, which can be redeemed for $200 cash back.
- Citi Double Cash® Card: Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
It's worth noting that if you want access to all of Citi ThankYou's transfer partners, you'll need to carry a premium card such as the Citi Strata Premier or Citi Prestige® Card (not open to new applicants). Otherwise, you'll have limitations on the number of transfer partners you can use.
- 3X points per $1 on airfare and hotels and at gas stations, restaurants, and supermarkets
- Annual Hotel Benefit: Save $100 off a single hotel stay of $500 or more (excluding taxes and fees) when you book through CitiTravel.com
- No foreign transaction fees
- $95 annual fee
- 10X points per $1 on hotels, car rentals, and attractions booked through CitiTravel.com
- 3X points per $1 spent on airfare, and other hotel purchases
- 3X points per $1 spent at gas and EV charging stations
- 3X points per $1 spent on dining at restaurants, including cafes, bars and lounges
- 3X points per $1 spent at supermarkets
- 1X points per $1 spent on all other purchases
Related: Citi Credit Cards: Best-Ever Offers and When You Should Apply
Final Thoughts
Citi has a new transfer partner, Preferred Hotels & Resorts, which is exciting news. However, this new partner is somewhat underwhelming despite the generous-looking transfer ratio. In most circumstances, you'll be better off redeeming your Citi ThankYou Points for flights or leveraging the program's other hotel transfer partners. You'll get more value for your points this way with less of a hassle.
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