The Citi Double Cash Card is a CASH BACK card that has no annual fee.  It is very appealing because you earn cash back on your purchases twice — You earn 1% unlimited cash back on all your purchases and an additional 1% on payments based on those purchases.  Before today, you were able to redeem your cash back for checks, statement credits or gift cards and you still can but…….

As of September 22, 2019, you can convert this cash back to Citi ThankYou points if you have an eligible card that allows you to earn Citi ThankYou points. One dollar of cash back will convert to 100 points. I do have an eligible card as I have a Citi ThankYou Premier card that I got at the end of last year with a 60,000 point bonus.  So it was hard for me to pass up on essentially 2% on EVERY PURCHASE whose currency can now be converted to a very flexible Citi ThankYou point.  Reminder, you can transfer your Citi ThankYou points to participating travel loyalty programs you are enrolled in if you have a Citi ThankYou Premier card or a Citi ThankYou Prestige card. As for who you can transfer them to, click here to see the complete list of programs.

Note, if you have a Citi Rewards+ Card, a Citi ThankYou Preferred card or ThankYou points converted from Citi Double Cash cash rewards, you earn ThankYou points but you can transfer your ThankYou Points to just one Partner, JetBlue TrueBlue or you can use your points as mentioned above for statement credits, gift cards, etc.

Bottom line-this Double Cash card is great for you if you already have a Citi ThankYou Premier or Prestige.

Let’s compare this combo with some of my favorite Chase and Amex cards………

This Combo is better than my favorite Chase Combo-This system of converting cash back to flexible rewards points may sound familiar to many of you as it is exactly what you can do if you have a Chase Freedom or Freedom Unlimited (essentially cash back cards) coupled with a Sapphire (Preferred or Reserve) card enabling you to convert your cash back to Chase Ultimate Rewards points. However, the Citi plan is better as with the Freedom you earn 5% on quarterly rotating categories and its capped at $1500 in spend and with the Freedom Unlimited, it is 1.5% back on every purchase, unlimited.  The Citi Double Cash is 2% on all purchases and it is unlimited.

This earning is better than my favorite card, the Amex Blue Business-With the Amex Blue Business, you get 2x Membership Rewards points on all of your purchases, but it is capped at $50,000 annually.  This Citi Double cash which can now yield ThankYou Points is basically giving you 2x ThankYou Points on all of your purchases with no spend cap.  That is 2 ThankYou points on ALL OF YOUR PURCHASES AND IT’S UNLIMITED!

Citi ThankYou points are enticing me more and more over my staple programs (Chase and Amex) and I think I am going to strike when there is an increased offer for the Citi Prestige card.  It was a breeze when I used my Citi ThankYou points for the first time when I transferred them to Singapore Airlines earlier this year.

Citi you may make me a convert!  I need you to raise my credit lines though. :-).