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!

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.

• Go to: thankyou.com
• Login
• Click: Rewards > Cash & charity > Statement credits

My account shows 50,000 points = $250. Yours may be different.

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.

Unless it has changed the rules, my understanding is only student loan check is 1:1, mortgage is not.

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.

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

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

Most likely not, as credit card points are typically deemed to be rebates of the amount spent. But you never know. . . .