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Convert ThankYou Preferred to Rewards Plus?

Convert ThankYou Preferred to Rewards Plus?

Old Nov 6, 2022, 8:37 pm
Join Date: Oct 2014
Posts: 136
Originally Posted by LiteBolt
I get regular offers from Citi to switch from TY Preferred to Rewards+. I've held off because Citi used to offer periodic 5x points bonuses on the Preferred card. I don't know if these bonuses are offered on Rewards+. Regardless, I haven't gotten a 5x offer on my Preferred card in a long time, so there's little reason to keep the Preferred.

I've read that Rewards+ has the extended warranty benefit. If I switch to Rewards+, do the items I've purchased with the Preferred card keep their extended warranty benefit?
My Rewards+ card lists the Extended Warranty benefit. As an aside, I have read that the Costco card is losing the extended warranty in Jan (post in this forum on 11/3), but none of my cards have had statement closes since then (last was on 10/13). I have yet to have a special offer on the Rewards+, but to be fair, I hadn't had one for ages on my Preferred card either (which I converted to Premier like 3 months ago).
brajalle is offline  
Old May 25, 2023, 1:22 pm
Join Date: Nov 2022
Posts: 3
I posted last year about possibly converting my ThankYou Preferred into Rewards+, but haven't done anything yet.

My FICO is over 800 and my credit limit on the ThankYou Preferred is almost 20k. I have six credit cards (including TY Preferred and Double Cash) and have low overall credit utilization (~$1000/month charged and paid off each month). I have the cards for benefits purposes, not a need for more credit.

Which option would you take?
  1. Convert the ThankYou Preferred into Rewards+. Pros: No hard pull, transfer of credit to new card. Cons: No bonus.
  2. Apply for a Rewards+ card. Pros: 25,000 bonus points. Cons: Hard pull, unknown credit limit.
The Custom Cash card also looks appealing with 20k bonus. For the 48-month bonus rule, are Rewards+ and Custom Cash considered the same category?
LiteBolt is offline  

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