Citi Double Cash Card To Earn ThankYou Points

Filed Under: Citi, Credit Cards
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The Citi® Double Cash Card is one of the all around most lucrative cash back credit cards. The card has no annual fee and offers 1% cash back when you make a purchase, and 1% cash back when you pay for that purchase.

In my opinion this is a card that a vast majority of consumers would benefit from having, since the average person isn’t earning two cents back for every dollar they spend.

Citi Double Cash Rewards Will Transfer To ThankYou

In early July I wrote about an exciting development to this card, though details were still limited.

As we learned, as of fall 2019 it will be possible to convert Citi Double Cash rewards into Citi ThankYou points. This means you’ll be able to pool rewards earned on the Citi Double Cash with rewards earned on cards like the Citi Premier℠ CardCiti Prestige® Card, and Citi Rewards+℠ Card.

Per a note on the cardmember statement:

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

Note that those who want to earn cash back as before can continue to do so — this is just intended to be an additional redemption option.

Functionality Coming September 21, 2019?

A Reddit user reports reaching out to Citi customer service and being told the following:

“I do see that has recently changed. It does appear that you can also convert your cash back to ThankYou Points, with as little as $1. No smaller amounts can be converted. $1 = 100 ThankYou Points. This will go into effect 9/21/19.”

While there are still lots of questions (which I’ll address below), it looks like this functionality could potentially kick in a week from today. How exciting!

Could Points Really Transfer 1:1 To ThankYou?

When we first heard about this new redemption option we had no clue about the transfer ratio. This raised the question of whether points would transfer at a 1:1 ratio (meaning you’d earn two ThankYou points per dollar spent), or if the ratio would be less than that.

Along those lines, it’s anyone’s guess if this is just a new option meant for niche redemptions, or if Citi is trying to create a ThankYou card that’s lucrative for everyday spending, since currently they don’t have any cards offering more than one point per dollar on non-bonused spending.

The above note suggests that $1 cash back can be transferred to 100 ThankYou points. In other words, could this really be a card earning two ThankYou points per dollar spent?

Is 2x ThankYou Points Per Dollar Spent Too Good To Be True?

I think we’re all hoping that this is the case. Could each reward “cent” earned on the Citi® Double Cash Card be transferable into one ThankYou point? That would be amazing, and logically it would make sense in terms of one “unit” of cash converting into one “unit” of points.

2x points on non-bonused spending isn’t completely unheard of, as The Blue Business® Plus Credit Card from American Express, offers 2x Membership Rewards points on the first $50,000 spent every calendar year. However, that card has a limit, and it’s also a business card.

It sure sounds like this will be the transfer ratio, though I guess the question is whether points could then be transferred to airline or hotel partners. It sure sounds like that should be possible in conjunction with either the Premier or Prestige cards, though it’s also possible that some restriction is put into place.


One of the challenges that Citi currently has in comparison to American Express and Chase is that they don’t have the same “portfolio” of cards that you can use for their transferrable points currency.

Being able to transfer Citi® Double Cash Card rewards to ThankYou has the potential to be awesome. It sounds like this redemption option is imminent, and will kick in about a week from now.

The above suggests that the transfer ratio will be 1:1, where one cent cash back could be converted into one ThankYou point. That would be incredible and industry leading, assuming there’s not any huge catch (like these points not being transferable to airline partners in conjunction with the Premier or Prestige).

I can’t wait to find out all of the details about this…

What are your expectations of this new option for earning Citi ThankYou points?

(Tip of the hat to Doctor Of Credit)

Regarding Comments: The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.
  1. I thought Citi had weird rules that you can’t transfer points out that were originally earned on cards/accounts that didn’t have transfer partners which limits the impact of transferring between cards/accounts. As opposed to Chase where the points take on the rules of which ever account they are currently in.

  2. These sound like these will be points like the ones earned from Citi checking accounts, aka not transferable to transfer partners. Find it hard to believe Citi would allow these points earned from the Double Cash card to be sent to transfer partners without a shi**y ratio if they do allow the transfer-def not a 1:1 ratio. Or a devaluation is coming.

  3. If they convert at a 1:1 ratio, and can be transferred to partners at 1:1, this would suddenly make this card very solid. I wonder if like Chase, they’ll require you to have a premium card too to convert them? If not, there would be very little reason to retain the Citi Premier card given it losing all of the travel and purchase protections.

  4. @AdamH – I think you’re misremembering. Points earned on (any) credit card are “credit card TYP,” and redemption possibilities depend on the cards you have at the time you redeem (not the time you earn). The points I earn on my Rewards+ are transferable because I have the Premier; the points my wife earns on her Rewards+ and “shares with” (transfers to) me can also be transferred by me, but otherwise expire after 90 days; and if she upgrades to, or opens, a Premier or Prestige, the points she originally earned on the Rewards+ become transferable.

    Points earned from BANKING are taxable, cannot be transferred, and expire after 3 years; but AFAIK can be redeemed on the TYP portal at your credit card’s (cards’) rate (e.g. Premier 1.25 cpp for the foreseeable future).

  5. They’ve been pushing this card hard to their Dividend Card holders. Problem is, as with other cards, “Points” can have a flexible value, whereas with the Dividend Card, you’re still earning DOLLARS.

  6. A question that remains is whether those converted ThankYou points will be transferable to ALL TYP partners. Several of the basic ThankYou cards (e.g. ThankYou preferred) only allow transfer to a subset…JetBlue being the only one of arguably limited use.

  7. “I think we’re all hoping that this is the case. Could each reward “cent” earned on the Citi® Double Cash Card be transferable into one ThankYou point? That would be amazing, and logically it would make sense in terms of one “unit” of cash converting into one “unit” of points.” – This would be the smart move for citi. They would need to put a cap on it like amex business blue plus does, but I don’t see the double cash getting used if they only give 1.5 points per dollar. Willing to bet most people will go with the freedom unlimited card in that situation and those with the amex business blue plus will have no reason to use the DC. A straight 2 pts per dollar would be enough to get me to seriously look at using mine. I still don’t know if I would use it over the amex business blue plus but it would at the very least replace the times I use my freedom unlimited.

    All of the above being said given many of the recent moves by Citi I have a hard time believing they will do anything positive for their card holders.

  8. Not if you have to also have one of the premium cards, which have now been stripped of almost
    all their benefits.

  9. Doesnt really matter unless they force you to take TYPs. If they do, im out. 2% cash back works perfect combined with my other cards. With chase, you can take freedom cash back points and combine with the sapphire. I bet they are doing that. 5% back on categories ttansfer to CSR is pretty sweet.

  10. Is it really worth the extra 1/2 percent from the Citi Double Cash World Elite MasterCard compared to a myriad of 1.5% no annual fee cash back credit card alternatives to have a World Elite card with the higher swipe fee but with no added benefits as of September 2019; hard to understand, scripted, and generally ineffective overseas customer service; a foreign transaction fee; and now with the dubious option of converting cash to points with many redemption options worth less than one cent per point? Seriously?

    It is a no brainer to cancel this card and every other Citi card except perhaps the Costco card.

    The Citibank Double Cash was the best cash back card when it was released. No more.

  11. why is everyone so pessimistic about this possibly being a 2 TYP per dollar spent card?

    Amex already has this, and both chase and amex have many cards that earn 3-5 points per dollar spent on different categories. Citi could be doing this to become more competitive with the other 2. It’s true their cards are not on par with Chase or Amex. Prestige got nerfed bigtime, and while premier is a solid card, the rest of their portfolio, personal or business, is lackluster.
    I can totally see them turning this into a 2 TYP/dollar card, and that would be great. IMO TYP is highly underrated. I find TYPs as valuable as MRs or URs, and when you add in the fact that you can transfer them from 1user to another, and they might actually be considered more valuable, as long as you can find at least 2-3 transfer partners that make sense. There’s enough overlap between transafer partners of Amex and Chase that it’s a damn good program.

    Here’s hoping 2 TYP/dollar is what it is, and they will be transferable! Stop being negative nellies!!!

  12. A Citi CSR indicated to JT from TPG that the points would indeed be transferable to airline partners, though, as of the time of his writing yesterday, a Citi representative that he reached out to in attempt to confirm still hadn’t responded back to him.

  13. Sounds great until I remember that I need to switch to CSR because they took all the protections off my Prestige card.

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