Convert Citi Double Cash Rewards to Transferrable ThankYou Points at 1:1

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Confirming rumors that surfaced early in July 2019, the Citi® Double Cash Card can now convert cash back rewards to transferable ThankYou points!

Citi® Double Cash Card
Citi® Double Cash Card
Annual Fee$0
Welcome Offer 0% intro APR on balance transfers for 18 months. (After that, the (Variable) APR will be 15.74% – 25.74% based on your creditworthiness.)
The Citi Double Cash is a dynamic, no-annual-fee cash-back rewards card that allows you to earn 2% traditional cash back, or convert your rewards to ThankYou Rewards points at a 1:1 ratio (2x ThankYou points per $1). When paired with a premium ThankYou Rewards earning card, the Citi Double Cash is now the best card available for everyday, non-bonus purchases.

If you're looking to pay down debt or finance a larger purchase, this card also comes with one of the best available introductory APR offers on balance transfers.
  • 2% cash back on every purchase - 1% when you buy + 1% when you pay
  • 0% intro APR on balance transfers for 18 months. After that, the (Variable) APR will be 15.74% – 25.74% based on your creditworthiness
  • No annual fee
This card makes earning rewards simple with no need to worry about keeping track of bonus categories for purchases with specific types of merchants. You'll earn 2% cash back on every purchase—1% when you buy and 1% when you pay. Citi cash rewards now also convert to ThankYou points at 1:1 ($10 = 100 ThankYou points).

What's the catch? To unlock your transfer potential, you will also need to hold either a Citi Premier Card, Citi Prestige® Card, or Citi Chairman® Card. If you do, the Citi Double Cash now earns 2X ThankYou points per dollar on every purchase, making it one of the highest-earning personal rewards cards for non-bonus purchases.

If you only hold the Citi Double Cash, you can still transfer points to JetBlue at a reduced ratio of 1:0.8 ($10 will convert to 800 TrueBlue points), or you could transfer to Sears. Neither of these options are a particularly good value.

Earn 2x ThankYou Points Per Dollar on Non-Bonus Spending

Early experiences from folks trying to convert cash rewards to ThankYou points were a mixed bag. Several reports rolled in that transfers weren’t working, and IT issues were preventing cardholders from converting points. However, since then, several points and miles blogs, and an excellent Reddit thread confirmed that cash rewards points were converting to ThankYou points at a 1:1 ratio, and could transfer to the full list of ThankYou Rewards airline partners.

The new transfer/redemption feature doesn’t replace the cashback earning potential of the Citi Double Cash. The option to convert to ThankYou Rewards is an added benefit—one that makes the card one of the most lucrative for everyday spending. For example, if you also hold the Citi Premier, the rewards earned on your Citi Double Cash could potentially be worth:

  • 2% cash back
  • 2.5% towards travel through ThankYou.Com (1.25¢ per point fixed-value)
  • 2X fully transferrable ThankYou points, potentially worth 4-5¢ per point if transferred to airline partners for premium cabin rewards

Another benefit that isn’t gaining a lot of press is that it reduces the minimum amount of cash rewards required to redeem your rewards. Historically, one of the biggest gripes with the Citi Double Cash was the $25 minimum in your account before you could redeem them as cash back.

convert-citi-cash-rewards-to-thankyou-points(2)

With the new transfer option, the minimum drops to just $1. Provided you have at least $1 in cash rewards in your account, you can now convert them to ThankYou points. This is excellent news if you need to top off your ThankYou points balance for a specific redemption.

How to Convert Citi Cash Rewards to ThankYou Points

Converting cash rewards from your Citi Double Cash to ThankYou points is a one-way process; transfers are final, so make sure you have a gameplan to use your new ThankYou Rewards.

Fortunately, the process is simple to complete online. In the Reddit thread linked above, user leetommy shared images from Citi.com showing the transfer process, alongside some FAQs and extra details.

convert-citi-cash-rewards-to-thankyou-points(1)

Transferring the $1 minimum will convert to 100 ThankYou points, and there is no maximum limit to the number of points you can transfer. Once the points are sitting in your ThankYou account, you can combine them with points earned on your other Citi ThankYou cards.

Rather than transferring ThankYou points between your cards, which can lead to points expiring if not used within 90 days, it’s best practice to combine your different card accounts. You can achieve this on Thankyou.com by clicking ‘Combine Accounts’ from within your account. If you don’t see all your available cards when trying to combine accounts, you will need to call Citi on 1-800-842-6596 and have a phone rep help you out.

How Does This Affect Your Credit Card Strategy?

The ability to convert Citi cash rewards to ThankYou points has catapulted the Citi Double Cash from a great fall back card for everyday spend, straight up to the top spot. There is no other personal rewards card earning an uncapped 2x flexible points on non-bonus spending. The only card that comes close is the The Blue Business® Plus Credit Card from American Express (Terms Apply), but it’s a business card, and the 2x points are capped on the first $50K spending each year. Where the Blue Business Plus has the Citi Double Cash beat, is it doesn’t require a companion card to execute transfers to partners. It earns fully transferable Membership Rewards points without the need to hold any other cards.

For most folks, it’s unlikely that you’ll need more than one everyday spending card unless you can charge a considerable amount to your cards each month. So is it worth making the switch from Chase or Amex and focusing your spending strategy on Citi? A lot depends on what cards you already hold in your wallet.

Taking a look at a few common card combinations; let’s say you spend $25K a year on non-bonus expenses, $4K a year on dining, $3K a year on gas, and $5K a year on travel. This is how your rewards would add up, assuming a value of 1.7¢ for each type of points:

Citi Premier Card and Citi® Double Cash Card

  • Non-bonus = 50,000 (2x)
  • Dining = 8,000 (2x)
  • Gas = 9,000 (3x)
  • Travel = 15,000 (3x)
  • Total = 82,000 points ($1,394.00 @ 1.7¢ per point)
Citi Premier℠ Card
Citi Premier Card
Annual Fee$95
Welcome Offer Earn 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening.
The Citi Premier card offers some of the top earning rates of any rewards card with an annual fee under $100. This card is best-in-class for rewards on travel spending, and it tops our list of the best cards for gas & fuel purchases with a generous 3X ThankYou® Points.
  • 60,000 point signup bonus worth $750 towards airfare through the ThankYou Travel Center, or potentially much more when transferred to airline partners
  • 3X points per $1 on travel, including gas stations, plus 2X points at restaurants and on entertainment
  • No foreign transaction fees
  • $95 annual fee
  • 3X points per $1 spent on on travel including gas stations, as well as airfare, hotels, car rental agencies, public transportation, tolls, and parking
  • 2X points per $1 spent on dining at restaurants, including many cafes, bars and lounges
  • 2X points per $1 spent on entertainment, including sporting events, movie theaters, concerts and more
  • 1X points per $1 spent on all other purchases
Citi® Double Cash Card
Citi® Double Cash Card
Annual Fee$0
Welcome Offer 0% intro APR on balance transfers for 18 months. (After that, the (Variable) APR will be 15.74% – 25.74% based on your creditworthiness.)
The Citi Double Cash is a dynamic, no-annual-fee cash-back rewards card that allows you to earn 2% traditional cash back, or convert your rewards to ThankYou Rewards points at a 1:1 ratio (2x ThankYou points per $1). When paired with a premium ThankYou Rewards earning card, the Citi Double Cash is now the best card available for everyday, non-bonus purchases.

If you're looking to pay down debt or finance a larger purchase, this card also comes with one of the best available introductory APR offers on balance transfers.
  • 2% cash back on every purchase - 1% when you buy + 1% when you pay
  • 0% intro APR on balance transfers for 18 months. After that, the (Variable) APR will be 15.74% – 25.74% based on your creditworthiness
  • No annual fee
This card makes earning rewards simple with no need to worry about keeping track of bonus categories for purchases with specific types of merchants. You'll earn 2% cash back on every purchase—1% when you buy and 1% when you pay. Citi cash rewards now also convert to ThankYou points at 1:1 ($10 = 100 ThankYou points).

Chase Sapphire Preferred® Card and Chase Freedom Unlimited®

  • Non-bonus = 37,500 (1.5x)
  • Dining = 8,000 (2x)
  • Gas = 4,500 (1.5x)
  • Travel = 10,000 (2x)
  • Total = 60,000 points ($1,020.00 @ 1.7¢ per point)
Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card
Annual Fee$95
Welcome Bonus Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
Our #1 recommended beginners rewards card featuring a 60,000 point signup bonus after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®.
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • No foreign transaction fees
  • 2X points on travel and dining at restaurants worldwide
  • 1X point per dollar spent on all other purchases
Chase Freedom Unlimited®
Chase Freedom Unlimited®
Annual Fee$0
Welcome Bonus Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
The everyday workhorse of the Ultimate Rewards family of cards earns 1.5% cash back on every purchase, every day of the week. While the Freedom Unlimited earns cash back on its own, the points earned become even more valuable when you hold an Ultimate Rewards card with the ability to transfer points to partners.
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.74-25.49%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5
  • No annual fee
  • Free credit score, updated weekly with Credit Journey℠
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • Earn 1.5% cash back on all purchases

American Express® Gold Card and The Blue Business® Plus Credit Card from American Express

  • Non-bonus = 50,000 (2x)
  • Dining = 16,000 (4x)
  • Gas = 6,000 (2x)
  • Travel = 12,500 (averaged out at $2,500 @ 3x for airfare booked direct + $2,500 @ 2X)
  • Total = 84,500 points ($1,436.50 @ 1.7¢ per point)
American Express® Gold Card
American Express® Gold Card
Apply Now
Rates & Fees
(Terms Apply)
American Express® Gold Card
Annual Fee$250
Welcome Bonus Earn 35,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 3 months.
  • Earn 35,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 3 months.
  • Earn 4X Membership Rewards® points when you dine at restaurants worldwide. Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X). Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
  • Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub, Seamless, The Cheesecake Factory, Ruth's Chris Steak House, Boxed, and participating Shake Shack locations. This can be an annual savings of up to $120. Enrollment required.
  • $100 Airline Fee Credit: up to $100 in statement credits per calendar year for incidental fees at one selected qualifying airline.
  • Choose to carry a balance with interest on eligible charges of $100 or more.
  • No Foreign Transaction Fees.
  • Annual Fee is $250.
  • Terms Apply.
  • Rates & Fees
  • 4X Membership Rewards® points when you dine at restaurants worldwide.
  • 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X)
  • 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com
  • 1X on other purchases
  • Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub, Seamless, The Cheesecake Factory, Ruth's Chris Steak House, Boxed, and participating Shake Shack locations. This can be an annual savings of up to $120. Enrollment required.
The Blue Business® Plus Credit Card from American Express
The Blue Business® Plus Credit Card from American Express
Apply Now
Rates & Fees
(Terms Apply)
The Blue Business® Plus Credit Card from American Express
Annual FeeNo annual fee
Featured Offer 0.0% intro APR on purchases and balance transfers for 12 months, then a variable rate, 14.99%, 17.99% or 20.99%, based on your creditworthiness and other factors as determined at the time of account opening.
The best credit card available for non-bonus business expenses. You'll receive 2X Membership Rewards points for every $1 spent up to the first $50,000 per year. Points transfer to travel partners without the need to hold other cards. The introductory APR offer also makes the card a great option if you're looking for a low-cost method of financing capital purchases you intend to pay down in less than 12 months.
  • Get rewarded for business as usual. Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners.
  • 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.
  • Enjoy the flexibility to put more purchases on the Card and earn rewards when you buy above your credit limit*.
  • You've got the power to use your Card beyond its credit limit* with Expanded Buying Power.
  • More buying power for your business means more opportunities to earn points. That's everyday business with the Blue Business Plus Card.
  • *The amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors.
  • 0.0% intro APR on purchases and balance transfers for 12 months, then a variable rate, 14.99%, 17.99% or 20.99%, based on your creditworthiness and other factors as determined at the time of account opening.
  • Terms Apply
  • Rates & Fees
  • Earn 2X Membership Rewards® points on everyday business purchases such as office supplies or client dinners. 2X applies to the first $50,000 in purchases per year, 1 point per dollar thereafter.

Bear in mind, your annual expenses will differ widely from what we have listed above, and you may value each rewards currency higher or lower. But, calculating the total points you can earn based on your spending patterns is an excellent way of determining the value of the rewards you can accumulate with each card issuer, based on the cards you hold, or, are interested in applying for. For example, if you don’t want to pay any annual fees, the Blue Business Plus is a winner, as you don’t need a companion card to transfer points to partners.

Application Strategy and Restrictions

Your application strategy for the Citi Double Cash hinges on whether you already hold one of the companion ThankYou Rewards earning cards, or if you’ve opened or closed one in the previous 24 months. Without a companion card, the Citi Double Cash is effectively still a 2% cash back card. Citi application rules for premium ThankYou points earning cards state:

Bonus ThankYou® Points are not available if you received a new cardmember bonus for Citi Rewards+℠, Citi ThankYou® Preferred, Citi ThankYou® Premier/Citi Premier℠ or Citi Prestige®, or if you have closed any of these accounts, in the past 24 months.

If you qualify for the Citi Premier, we recommend getting the premium card before applying for the no-annual-fee Citi Double Cash. The Citi Premier offers a high-value signup bonus of 60,000 after you spend $4,000 in purchases within the first 3 months of account opening, whereas the Citi Double Cash doesn’t currently offer a traditional signup bonus. That’s a massive boost to your overall balance of rewards points and gives you time to hit the minimum spend before you apply for the Citi Double Cash.

If you don’t qualify for a premium ThankYou points earning card, you’ll need to wait at least 24 months before you can realize the full value of any cash rewards converted to ThankYou points.

Another way to acquire a Citi Double Cash card, if you don’t want to apply for the card outright, is to downgrade from another personal Citi card. Traditionally, Citi has proven to be the most generous card issuer when it comes to downgrades, allowing cardholders to downgrade even co-brand personal cards to the Citi Double Cash. Downgrading presents several advantages over a new application. Allowing you to keep your original credit line and reallocate credit, plus preventing a new card account from showing up on your credit file if you want to limit new accounts due to Chase 5/24 or similar rules.

Our Take

The Citi® Double Cash Card has been one of our benchmark rewards cards since its release, earning 2% cash back on every purchase and charging no annual fee. Despite Citi dropping most of the travel and purchase protection benefits on the Citi Double Cash earlier this week, the card has again shot into the top rewards cards for everyday spending with this latest announcement.

The Citi Double Cash isn’t the first card to offer 2x transferable points on everyday spending, but it stacks up well against the competition. The Blue Business Plus is a small-business (rather than consumer) card, and it caps 2x earning at $50,000 in annual spend. The Capital One® Venture® Rewards Credit Card offers unlimited 2x earning, but points transfer at an inferior 1,000:750 ratio. Provided you can pair it with a premium ThankYou Rewards companion card, the Citi Double Cash has become a powerhouse rewards card.

If you're looking for a simpler, one-card strategy, and you don't have a business, the Capital One Venture could be a good 2x-earning alternative.

Capital One® Venture® Rewards Credit Card
Capital One® Venture® Rewards Credit Card
Annual Fee$0 intro for first year; $95 after that
Welcome Offer 50,000 miles after spending $3,000 on purchases within 3 months from account opening
Following the revamp of Capital One's rewards program and the addition of airline transfer partners, the Capital One Venture has catapulted into our list of top travel rewards cards. The ability to earn 2X miles on every purchase, and up to 10X points on hotels provides a decent return on spending, plus the card offers some great perks.
  • 50,000 Miles after spending $3,000 on purchases within 3 months from account opening; worth $500 in travel if redeemed for a fixed-value, or potentially much more when transferred to airline partners
  • 2 Miles on every purchase, plus earn 10 Miles on hotels at hotels.com/venture, through January 2020
  • Fee credit for Global Entry or TSA Pre✔® (up to $100)
  • No foreign transaction fees
  • $0 intro for first year; $95 after that
  • 2 Miles per dollar on every purchase, every day.
  • 10 Miles per dollar on hotels at hotels.com/venture, through January 2020

For rates and fees of the cards mentioned in this post, please visit the following links: American Express® Gold Card (Rates & Fees), and The Blue Business® Plus Credit Card from American Express (Rates & Fees)

Convert Citi Double Cash Rewards to Transferrable ThankYou Points at 1:1
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Comments

  • And these TY points earned through the CDC card have no restrictions, correct? That is to say, these TY point are then transferable to travel partners? I read somewhere speculation partner transfers might be restricted.

    • Provided you hold a Citi Premier, Citi Prestige, or Citi Chairman card, you can transfer points to all partners once combined. You can convert Double Cash Rewards to TYP without a premium TYP card, but you can only transfer to Sears and JetBlue (at a reduced transfer ratio) unless you hold one of the cards mentioned previously.

  • Great news, but I’d be more excited if Citi had better transfer partners.

  • Great idea if you’re ready to spend those membership Rewards!

  • This is insane.
    2 miles per dollar on every purchase that doesn’t belong to a bonus category on the ThankYou cards is surreal.

  • I like to use this card strictly as a 2% cash back card. Adding thank you points capability is fine, but I hope they don’t loss the 2% cash back in the upcoming future.

  • This is great news for the Citi afficionados but I think I would be spreading myself too thin if I tried to add this to my Chase and Amex trifectas. Good to know the options.

  • This is an enhancement that actually benefits customers! Makes getting citi cards much more compelling.

  • I have been using my CSR for every day spend. I may now get the CITI Double Cash for every day spend.

  • good news for combing points!!! thankyou.

  • Very cool. Now it makes me want to get a Double Cash card again. I had one that they cancelled a couple months ago while I was out of the country. I just private messaged Citi and asked if they could transfer the points I had left on the double cash card to Thank You points. Sadly they said no. I’ll try calling and seeing what they can do.

  • I think you mean this card shot up to one of the best travel cards when this was announced but then went back down when all the travel protections were done away with.

  • great info. thanks

  • Thank you. It’s a way for me to use the less than $25 redemption threshold rewards I have since I switched to using the Bank of America cash reward and Premium Rewards cards for higher cash rewards when you have Platinum Honors.

  • Great news. Finally something good at Citi.

  • I selected to get the TYPs on my 2 DC cards the other day. I was surprised to see a separate TYP number for each of them, showing my Premier & Sears under the oldest number with my TYP balance and a separate line for each DC with a separate number. Called to get the 2 DC cards under the 1st number, Philippines was of no help, India was of no help, asked for an American TYP person and WALA!!!

    Now all of the points will go into the same TYP bucket. I figured its better to link them now than try to transfer or combine later.

  • I am looking at the Citi Double Cash Back card. Their partners to transfer to are not tempting to me, however, the 2% cash back is.
    I love my Chase cards and Amex MR therefore will stay with them. 2% is SO tempting! argh!

  • 2% and now this – every little bit helps

  • Joanna E Turtle says:

    I love the simplicity of this card, the 2% cashback process works flawlessly with very little effort on my part, adding thank you points capability
    sounds great but it also sounds complicated and something I most likely won’t do, for me it, really depends how simple the program is to utilize.

    • No doubt, cashback will almost always be simpler than point programs, primarily because you mostly don’t have to make redemption decisions or watch offers. But, as you probably know, that doesn’t mean cashback has the most value.

  • Wow, many options, and I never heard of the thank you points, thanks for informing 😊

  • I like amex bbp better. don’t need a second card to do transfers!

  • Love the Thank You Rewards program!

  • This is happening AFTER the Citi Double Cash card discontinued most of its customer-friendly benefits like PriceRewind, Purchase Protection, etc w.e.f. Sept 22 2019

  • Citi points are vastly underrated in the miles universe. Transfer options such as Avianca, Turkish, Asia miles are great. Since i save AMEX MR for mostly ANA, all my Avianca and Turkish miles come from Citi TY awards! And Citi has transfer bonuses a lot!

  • I have not considered Citi double cash until now

  • I would much rather have the benefits the Double Cash card just eliminated than the ability to have Thank You points or more Thank You points. I wonder what others think? What people think about this may likely affect what they ultimately do.

  • Great article – Lots of useful information. Thanks.

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