Citi Double Cash Gold Card allows users to exchange cash for thank you points

Qualified cardholders can extend the value of points through more redemption options.

Citi Double Cash Gold Card is praised for its generous refund rate, providing 1% refund for all goods purchased by cardholders, and an additional 1% when paying for purchase. Since each purchase is likely to receive a 2% cash return, it is easy to see how profitable this card is.

Since 2019, the Citi Double Cash Gold Card has added new flexibility to these awards.
“We have been working hard to provide customers with convenient exchange options and meaningful value. Therefore, from September 22, we will provide double cash cardholders with the option of converting cash rewards into thank you points, allowing them to exchange points into cards Citi said: “Gifts, travel, purchase at selected retailers, etc.”.

For many Citi dual cash cardholders, this option will certainly bring huge potential value.

Should you exchange cash rewards for thank you points?

Citi dual cash cardholders can exchange $1 cash reward for 100 thank you points. This is the highest conversion rate because you can extend the value of thank you points by strategically converting points.

According to our estimation, most ThankYou point redemption options are worth 1 cent or less per point – cash redemption still seems to be your best choice. However, there is one obvious exception: transfer thank you points to travel partners.

Citi dual cash holders who hold qualified Citi cards (Citi Premier or Citi Prestige) can transfer their points to any Citi transfer partner at a ratio of 1:1.

The good news: Citicard with basic thank you score can also be transferred to some participating partners. Therefore, if you have a Citi Reward+Card or Citi Double Cash Gold Card, you can transfer the points to Select Privilege, TrueBlue or Wyndham Reward.

Compared with other incentive schemes, Citigroup’s travel partners are relatively limited, but they provide unique opportunities. Because many miles are worth more than 1 cent per mile, you can get more from the rewards by transferring money.

For example, suppose you convert the $25 earned on Citibank’s double cash card into 2500 thank you points. Then, if you convert these points into JetBlue TrueBlue mileage in a ratio of 1:1 (1.3 cents per mile according to the data of Points Guy), we estimate that you can convert 2500 points into tickets worth about $32.5. This is because JetBlue offers a variety of incentive flight options, many of which can extend your mileage.


For refund enthusiasts, the new transfer option on the Citibank Double Cash Card may not affect your bonus exchange strategy. However, if you choose this card because of the high fixed interest rate of traditional purchase and want to get involved in the tourism reward space, it may be very profitable to convert your double cash reward into thank you points.

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