Old Jun 11, 08, 8:06 am
  #4  
mia
A FlyerTalk Posting Legend, Moderator: American Express, Citi, Diners Club, Signatures
 
Join Date: Jun 2003
Location: Miami & London
Programs: AA & Marriott Perpetual Platinum; HH Gold
Posts: 42,384
The downside to ThankYou Rewards is the risk that Citi can devalue Fixed Flight awards at any time, and they have provided only a few weeks notice of previous changes. If this happens it will simultaneously affect all carriers, all destinations and all classes of service. The fallback is to redeem for Variable Flight awards on a penny-a-point basis. While ThankYou points are currently worth up to $0.03 each, if you are planning to accumulate gradually it may be prudent to value them only at the floor level of $0.01 each.

Starwood Preferred Guest is less likely to change their 1:1 transfer value across the board, and it is much less likely that all of their partner airlines would simultaneously change their award flight redemption levels. To illustrate, SPG has already changed their transfer rate to United, Continental and Singapore to 2:1, but there are still 1:1 transfers available to alliance partners of all three carriers.

For gradual accumulation I would be more comfortable in a multi-partner program such as Starwood Preferred Guest, Diners Club Rewards, or American Express Membership Rewards.
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