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Back in July we learned that starting this fall the Citi® Double Cash Card – already one of the very best cash back cards – would have its points convert to airline miles, too.
The card has no annual fee and earns 2% back on purchases (1% when you buy and 1% as you make payments for those purchases). There’s no caps on the cash back you earn, and the full rebate applies regardless of spending category.
This card is a already no brainer for many people to get if they ever spend money on a credit card earning just 1 mile per dollar. You wouldn’t want to earn 1 airline mile per dollar on your spending, for instance, because you would not buy that mile for 2 cents. Earning 2% cash back is the opportunity cost of putting spending on another rewards card.
The news in July was rewards you earn with the Citi® Double Cash Card will convert into Citi ThankYou points and therefore will become combinable with points in a Premier or Prestige account.
Coming in Fall 2019 your Citi Double Cash Card will allow you to convert your cash rewards to ThankYou Points which can be redeemed for gift cards, travel, purchases at select retailers, and more. For more details, please review the terms and conditions of your Citi Double Cash Card and the terms and conditions at www.thankyou.com
Citi® Double Cash Card will continue to be a cash back card, it will just become even more flexible.
- Transfers from the Citi® Double Cash Card to ThankYou points will start September 23.
- The rate will be 1:1
This isn’t information directly from Citi at this point, just relayed from a Citi representative, but seems consistent with what Citi has said so far — that there would be transfers, and that those transfers would start in the fall.
Assuming the report is accurate it’s the biggest no brainer ever to earn unlimited 2x on all of your spend and move them to a Premier or Prestige account. That’s mean the ability to earn category bonuses from those cards, but never less than 2 points per dollar on your spend (and without resorting to a small business card, the Blue Business® Plus Credit Card from American Express earns 2 Membership Rewards points on your first $50,000 in purchases per year and those points transfer to airline miles.
Citi® Double Cash Card was worth getting to begin with. This would make it indispensable.