According to Citi, starting on March 28, 2022, the card will begin earning rewards as Citi ThankYou points instead of cash back. This means the card will earn 2 ThankYou points per $1 spent: 1 point per $1 when you make a purchase, and 1 point per $1 when you pay it off.
Existing cash rewards in your account at the time of the change will automatically be converted to ThankYou points.
For cash-back lovers, the switchover to a points system isn’t a big deal because point values won’t change in that scenario: They’ll still be worth a penny each when you redeem for cash back in the form of a direct deposit, statement credit or paper check. For example, 1,000 ThankYou points will get you $10 in cash.
Other redemption options
Aside from cash back, ThankYou points can be redeemed toward gift cards, travel and spending through Amazon.com. They can also be transferred to a limited number of Citi travel partners, including JetBlue and Wyndham.
Note, however, that point values may vary if you choose to redeem them for anything other than cash.
Minimum redemption changes
In addition to the change in rewards earning for the Citi® Double Cash Card – 18 month BT offer, the card is doing away with its $25 minimum redemption threshold when you redeem for a direct deposit or statement credit. Starting March 28, 2022, cardholders will be able to redeem points in any amount and at any time.
(If you opt to redeem for a physical check by mail, a minimum redemption of $5 will apply.)