A Review of the Citi ThankYou Rewards Network

ThankYou from Citibank offers customers many ways to earn points from everyday transactions. The points can then be turned into a variety of gifts, including gift cards, cash and travel vouchers.

To start earning points, all you need is a qualifying Citi checking account or credit card. Any of the following Citi cards will do:

  • Citi ThankYou Preferred Card
  • Citi ThankYou Premier Card
  • Citi Forward (& Student Card)
  • Citi mtvU Platinum Select Visa Card (& Student Card)
  • Citi Diamond Preferred Rewards Card
  • Citi Diamond Preferred Rewards American Express Card
  • AT&T Universal Rewards Card
  • AT&T Universal Business Rewards Card

You can earn ThankYou points in a number of ways. You’ll earn points for every dollar spent on an eligible Citi credit card, and you’ll earn points for Citi checking accounts and other banking services.

Every time you make a purchase with a Citi debit card, you’ll earn points. Other Citi services also earn points. You’ll get rewards points for: certificates of deposit, direct deposit, a home equity line or home equity loan, a mortgage with Citi, online bill payments from your checking account, a savings or money market account, and student loans.

And, if you find yourself aching for a certain reward, but you’re just shy of the points, you can purchase the balance of points you need to get the reward.

In addition, you can grab bonus points for shopping at the right spots. Citi has partnered with many retailers, and you can earn points for shopping at them.

You’ll earn points when you make purchases online by using ThankYou.com, and when you make purchases in-store using your Citi Credit Card. Citi partner retailers include over 400 online outlets, including Macy’s, Best Buy, and Target.

You’ll earn additional points for every dollar spent at a Citi associate. Other stores where you’ll earn bonus points include Timberland, Eddie Bauer, and Orvis. You can also earn bonus points when you make purchases from participating catalogs or buy gift certificates. You’ll earn extra points when you shop at the Gap, Barnes and Noble, Land’s End, the Apple Store, Samsonite, Shutterfly, Dell, or iTunes.

Citi adds new reward options every month, so you can redeem your points on anything from electronics to rock climbing lessons. You can begin redeeming your points for rewards with as few as 1,000 points. Points can be redeemed online or by phone.

Your rewards account will make it easy to search for available rewards, as you can search by category, browse by point range, view new additions to ThankYou, or search for something specific.

Like many rewards programs, ThankYou from Citi offers a variety of redemption options. You can redeem points on books, CDs, DVDs, electronics, software, games, computers and computer accessories, items for your home or garden, sporting goods, health and beauty supplies, tools, automotive supplies, toys and baby accessories, gift cards, charity donations, and travel, including flights, hotels, packages, and travel certificates.

The value of a ThankYou point depends on your redemption. Tangible gifts such as electronics tend to convert at a lower point-to-value ration, and gift cards end up on the high end.

Is Citi’s ThankYou program worth switching to? That depends on a number of factors. How many Citi services do you think you might use? The more you use, the more points you rack up.

If you already have a student loan or mortgage with Citi, the ThankYou Network might reward you very nicely. On the other hand, you should never commit yourself to a service without shopping around. If you’re interested in a rewards program, check out several and pick the one most beneficial to you.

And always remember to pay your credit card off before you start paying interest! Sure, you earn rewards, but if you pay out more than they’re worth in interest payments, you’ll find yourself worse off than when you started.

Published or Updated: April 8, 2013
About Rob Berger

Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

Comments

  1. Briana @ GBR says:

    I think the coolest thing about the Thank You Rewards is that if you get enough, you can get a credit towards your credit card bill, which is essentially free money :)

  2. Joseph says:

    Going off what Briana said… yeah you can technically get an interest free credit card, which is free money… but you have to know how it works exactly.

    Say your minimum payment is 100, some part of that payment is interest, the other part pays off your principal. If you spend enough, and spend in the right categories (like $1 at a restaurant is worth 5 points, as opposed to $1 dollar at a gas station is worth 1 point), you can end up with enough reward points to get a statement credit which covers your interest. Actually, you can even cover the entire minimum payment. You still have to pay something though, you cannot substitute your minimum payment for a statement credit.

    Be careful though, if you charge too much, you’ll end up loosing because eventually the statement credit won’t cover the interest.

Speak Your Mind

*