It seems like there are a lot of rumors swirling around right now. We’ve got exciting rumors about big changes coming to the Amex Green Card and now there are more rumors about the ability to convert Citi Double Cash cash rewards into Citi ThankYou points. If these latest rumors are true, this could be a huge game changer for your everyday spend. 

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The new Citi Double Cash changes 

Citi already announced that beginning in the fall of 2019, the Citi Double Cash will allow you to convert cash rewards from your Double Cash to Citi ThankYou points. Here’s what the changes state: 

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

We’ve known this change is coming for some time but we didn’t know what the transfer ratio would be. But now multiple people have reported that Citi reps have confirmed that as of 9/21 (or 9/23) the transfer ratio will be $1:100 ThankYou Points. This means that your Double Cash points will convert to Citi ThankYou Points at a 1:1 ratio.  

This is huge because it transforms the Double Cash into arguably the most valuable travel rewards card for everyday spend for a lot of people. It will give the Amex Blue Business Plus a run for its money (that card earns 2X Membership Rewards on up to $50,000 in spend per year). 

But there still is a little bit we don’t know….

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We need confirmation 

First, we need to get this 1:1 change confirmed from Citi in a public release. I think it’s likely true given how many people have reported Citi agents confirming this, but I don’t think we can take this as a fact until we see it officially announced by Citi. 

The next question is will you be able to transfer these points to travel partners? Not all ThankYou points can be transferred to travel partners so this isn’t outside the realm of possibilities. 

It’s possible that these points won’t be transferrable to travel partners or Citi may require you to hold a Premier or Prestige in order to transfer them similar to how Chase requires you to have a Sapphire Preferred, Reserve, etc. to transfer points. 

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A new trifecta/quadfecta?

The Double Cash will continue to earn 2% back on all purchases which could work great in conjunction with other ThankYou points earning cards and form a pretty sweet trifecta or quadfecta. 

If you’re wondering about other ThankYou earning cards and how they compare, here’s a quick breakdown: 

Citi Premier 

• 3X on travel (including gas)
• 2X on dining and entertainment 

Citi Prestige

• 5X on airfare
• 5X on dining 
• 3X on hotels and cruises 

Citi Rewards+ Card

• 2X at Supermarkets & Gas Stations for the first $6,000 per year
• Rounds up to the nearest 10 points on every purchase

So as you can see, there’s a need for a ThankYou points earning card for non-bonused spending and the Double Cash could be a great option for that if the transfer ratios are actually 1:1. With the Prestige, Premier, and Double Cash, you could be earning: 

• 5X on airfare
• 5X on dining 
• 3X on travel
• 3X on gas
• 2X on all other purchases 

Even though Citi has dropped a lot of benefits and protections, that’s still a very stout line-up of bonus categories. 

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Citi ThankYou partners

Here’s a list of Citi ThankYou partners in case you need to be refreshed:

• Asia Miles
• Avianca LifeMiles
• EVA Air Infinity MileageLands
• Etihad Guest
• Flying Blue
• JetBlue TrueBlue 
• Jet Airways JetPrivilege
• Garuda Indonesia Frequent Flyer
• Malaysia Airlines Enrich
• Qantas Frequent Flyer
• Qatar Airways Privilege Club
• Singapore Airlines KrisFlyer
• Thai Airways Royal Orchid Plus
• Turkish Airlines Miles & Smiles
• Virgin Atlantic Flying Club

These airlines aren’t quite as popular as partners for Amex or Chase but there are still some high-quality transfer partners. 

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Final word

While we are awaiting confirmation, it does seem likely that the transfer ratio will be 1:1, which is very exciting. We just need additional confirmation that the ThankYou Points can be transferred to travel partners (and how that will happen). If/when that happens, the Double Cash will immediately become a no-brainer. 

H/T: Reddit/DOC