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 Transfer To ThankYou
Since 2019 it’s possible to convert Citi Double Cash rewards into Citi ThankYou points, which was a game-changing development in the rewards credit card space, in my opinion.
Those who want to earn cash back can continue to do so — this is just intended to be an additional redemption option.
2x ThankYou Points With No Caps Is Industry Leading
Back in the day I never thought we’d see a card offering 2x transferable points with no caps, but indeed that’s what the Citi Double Cash offers.
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:
- You’re limited to earning 2x points on the first $50,000 spent every calendar year with the Blue Business Plus
- The Blue Business Plus is a business credit card, while the Citi Double Cash is a personal credit card
- The Blue Business Plus is an Amex, which doesn’t have quite as good acceptance as Mastercard
Before I got the Citi Double Cash, my primary card for everyday spending prior to this card was the Chase Freedom Unlimited®, which offers 1.5x points. In conjunction with a card earning Ultimate Rewards points, those points can be converted into Ultimate Rewards points as well.
However, as far as I’m concerned earning 2x ThankYou points is significantly better than earning 1.5x Ultimate Rewards points.
I use the Citi Double Cash for my everyday spending
Citi Is Keeping This Amazing Opportunity A Secret
Prior to 2019, the Citi Double Cash was purely a cash back card. It’s interesting to note that even well over a year into this feature being available, Citi hasn’t done much to adjust the marketing of the card.
The Citi Double Cash is still being promoted almost exclusively as a cash back card, and the only way you’d even know you can convert the rewards into ThankYou points is if you read a blog like this, or if you happen to have the card and see the functionality in your account.
Rules Of Converting Citi Double Cash Rewards Into ThankYou Points
Since I have the Citi Double Cash, I wanted to share my experience with how the rewards post, as well as how you can convert the rewards into ThankYou points.
Up front there are a few things to note about converting Double Cash rewards to ThankYou points:
- Rewards transfer at a ratio of $1 in cash rewards to 100 ThankYou points (in other words, each cent of rewards can be converted into one ThankYou point)
- You need to convert at least $1 worth of rewards, and there are no maximums
- Once you convert cash rewards into ThankYou points, you can’t reverse the transaction
- You need to have the Citi Double Cash in conjunction with the Citi Premier® Card or Citi Prestige® Card in order to transfer rewards to ThankYou and then be able to transfer them to airline partners
As a reminder, here are the Citi ThankYou airline partners:
|Aeroméxico Club Premier||N/A|
|Air France/KLM Flying Blue|
|Cathay Pacific Asia Miles|
|EVA Air Infinity MileageLands|
|Malaysia Airlines Enrich|
|Qantas Frequent Flyer|
|Qatar Airways Privilege Club|
|Singapore Airlines KrisFlyer|
|Thai Airways Royal Orchid Plus|
|Turkish Airways Miles & Smiles|
|Virgin Atlantic Flying Club|
How To Transfer Citi Double Cash Rewards To ThankYou
The process of converting Citi Double Cash rewards into ThankYou points couldn’t be easier. Just log into your Citi account, and make sure you have the same log-in for your Double Cash, as well as your Premier and/or Prestige.
When you log into the rewards section, click the “Convert to Points” button on the left of the page, and then click “Convert Cash Rewards to Points.”
On the next page you can enter how much in rewards you want to transfer.
Once you verify that you want to transfer your rewards, you’ll instantly see the rewards show up as ThankYou points on your ThankYou account summary page, and they’ll specifically be listed next to the Citi Double Cash.
You can then transfer them to airline partners, along with all of your other ThankYou points.
Getting “Something Went Wrong” Error Message?
When I first got the Citi Double Cash in 2019, I tried to convert some of the rewards into ThankYou points. However, no matter how many times I tried, I got the below error message, saying that something went wrong, and that there was a technical issue.
I kept trying, used different browsers, went incognito, and simply waited for a couple of weeks.
Eventually I called Citi to figure out what was going on, and the agent was very helpful, but said that Citi didn’t have any reports of problems. He asked if I had tried a different computer. I figured that wouldn’t make any difference, since I had already tried incognito windows and different browsers.
Go figure as soon as I tried this on Ford’s computer, it worked. So if you’re also getting an error message, try a different browser, try incognito, or otherwise try a different computer altogether. Worst case scenario they can transfer rewards by phone.
Tip: Pay Off Your Balance Before The Statement Closes
There’s one last quirk I wanted to point out. The Citi Double Cash offers half of the rewards when you make an eligible purchase, and half of the rewards when you pay for an eligible purchase. Rewards generally post once the statement closes where you complete the activity.
If you want to earn your rewards as soon as possible, it’s worth paying for your purchase before the statement closes, so that you get the entire reward with that statement closing. If you pay after the statement closing date then you’d get half of your rewards an entire statement later.
Paying off a statement before the closing date can also be good for your credit, since it lowers your credit utilization.
Best Strategy: Citi Premier Plus Citi Double Cash
- The Citi Premier offers an incredible welcome bonus of 60,000 ThankYou points, which will really jumpstart your rewards earnings
- You’re eligible for both of these cards as long as you follow Citi’s general credit card application rules
- The Citi Premier offers 3x points on dining, gas, groceries, air travel, and hotels, and has no foreign transaction fees
- You can earn all of this with a single $95 annual fee on the Citi Premier, since the Citi Double Cash doesn’t have an annual fee
To me, this is a valuable and straightforward approach to take towards maximizing credit card rewards, as you’ll earn 2-3x points on all purchases.
Transfer Citi ThankYou points to Emirates Skywards
Citi Double Cash Summary
Historically one of the challenges that Citi had in comparison to American Express and Chase was that the issuer didn’t have the same “portfolio” of cards that you could use for the transferrable points currency.
While Citi still doesn’t have as large of a portfolio as Amex and Chase, Citi does now have a personal card that’s in a league of its own when it comes to return on everyday, non-bonused spending. Being able to earn 2x ThankYou points with the Citi Double Cash is awesome, and this is the card I’m using most for my everyday spending.
Personally I value Citi ThankYou points at ~1.7 cents each, so that’s like a return of 3.4% on spending:
- This is my new go-to card for paying taxes (for a fee of 1.96%, which means I’d be acquiring ThankYou points for under one cent each)
- It might even be worth making payments with Plastiq at the “regular” cost of 2.85%, as that’s like acquiring ThankYou points for 1.425 cents each
Do you use the Citi Double Cash as your card for everyday spending?