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Old Sep 25, 12, 6:40 pm   #1
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CITI ThankYou points can be used to pay for citi card balance?

I have the citi thank you premier card and received 50k bonus points for spending $2500. Can the points be used to pay the card balance?

I can buy visa gift card in store for $500 with the CITI THANK YOU PREMIER CARD and than use my thank you points to pay the $500 credit card balance?

it would be 50k thank you points for $500 card balance?

if that's the case, I 'd jump on it.

Thank you rewards site sells $100 citi visa prepaid card for 140k points, 0UCHHHHHHHHH!
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Old Sep 25, 12, 6:52 pm   #2
 
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Sadly it's not. The redemption rate for statement credits is less than 1 cent per point. I forget the exact rate but if you Google it you will find it. I did read that some TYP earning cards have different redemption rates but not positive.
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Old Sep 26, 12, 7:26 am   #3
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Quote:
Originally Posted by emptiness View Post
... Can the points be used to pay the card balance?
  • Go to: thankyou.com
  • Login
  • Click: Rewards > Cash & charity > Statement credits


My account shows 50,000 points = $250. Yours may be different.
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Old Sep 26, 12, 10:39 am   #4
 
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Citi thank you points are not 1 point = 1 cent cash value in most cases. It would be great if they were treated like the Chase Ultimate Rewards points.

I think the main exceptions are that you can request a student loan payment check or a mortgage check, and in those instances 1 TYP = $0.01.

Last edited by yOyOYoo; Sep 28, 12 at 12:06 pm. Reason: Typo. 1 TYP = 1 cent not $1 as kayjay pointed out
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Old Sep 26, 12, 5:39 pm   #5
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Originally Posted by yOyOYoo View Post
Citi thank you points are not 1 point = 1 cent cash value in most cases. It would be great if they were treated like the Chase Ultimate Rewards points.

I think the main exceptions are that you can request a student loan payment check or a mortgage check, and in those instances 1 TYP = $1.
Unless it has changed the rules, my understanding is only student loan check is 1:1, mortgage is not.
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Old Sep 26, 12, 7:49 pm   #6
 
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I did CVS card at 100TYP to $1. There is no such thing as 1TYP equals $1.
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Old Sep 28, 12, 12:06 pm   #7
 
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Originally Posted by kayjay View Post
I did CVS card at 100TYP to $1. There is no such thing as 1TYP equals $1.
Oops I mean 1TYP = 1 cent.

Btw see here for details on 1 TYP = 1 cent for mortgage payments.

100,000 TYP = $1,000 Mortgage payment is the maximum.
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Old Nov 25, 12, 8:30 pm   #8
 
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I have 100k TYP. I think $1k Mortgage check is best option. Or should I wait for gift card deal?

Will Citi issues I 1099 for redeeming mortgage check? All TYP are from credit cards.
Thanks

Quote:
Originally Posted by emptiness View Post
I have the citi thank you premier card and received 50k bonus points for spending $2500. Can the points be used to pay the card balance?

I can buy visa gift card in store for $500 with the CITI THANK YOU PREMIER CARD and than use my thank you points to pay the $500 credit card balance?

it would be 50k thank you points for $500 card balance?

if that's the case, I 'd jump on it.

Thank you rewards site sells $100 citi visa prepaid card for 140k points, 0UCHHHHHHHHH!
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Old Nov 27, 12, 5:34 am   #9
 
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Quote:
Originally Posted by yOyOYoo View Post
Citi thank you points are not 1 point = 1 cent cash value in most cases. It would be great if they were treated like the Chase Ultimate Rewards points.

I think the main exceptions are that you can request a student loan payment check or a mortgage check, and in those instances 1 TYP = $0.01.
In the interests of completeness, since the OP has a Premier card there's also using the points to purchase airline tickets at 1.333 cents/point. Extensive discussion is at http://www.flyertalk.com/forum/credi...133-point.html
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Old Nov 27, 12, 7:40 am   #10
 
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Quote:
Originally Posted by jawdoc19 View Post
I have 100k TYP. I think $1k Mortgage check is best option. Or should I wait for gift card deal?

Will Citi issues I 1099 for redeeming mortgage check? All TYP are from credit cards.
Thanks
Most likely not, as credit card points are typically deemed to be rebates of the amount spent. But you never know. . . .
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