Citi thank you redemptions plan

I didn't see this discussed as it's own topic elsewhere...

Citi's Thank You Redemptions program

SEE HOW MANY POINTS YOU CAN GET!!!

We're all familiar with
The rewards cards are automatically enrolled in this program and the points you get with those cards are these same points.
Rewards cards are:
Citi® Diamond Preferred® Rewards Card
CitiBusiness® Card with ThankYou NetworkSM
AT&T Universal Rewards Card
Citi® PremierPassSM Card
Citi® PremierPassSM Card - Elite Level
CitiBusiness® PremierPassSM Card
mtvUTM Platinum Select® Visa® Card
Citi Driver's Edge Card**

You can also earn points from your banking accounts just for having these accounts- but you have to call to enroll. If you already have an account Call 1-866-701-4984.
Banking products include:
Direct Deposit
Savings/Money Market
CDs
Online Bill Payment
Checking Plus®
Ready Credit®
Personal Loan
Home Equity Line
Home Equity Loan
Mortgage

For example, I have a checking, savings, checking plus, and online bill payment so I get 200 points/month with no additional fees or requirements.

"Here's the best part. The points you get with your credit card and banking relationship can be combined,** so it's easy to get the rewards you want, even sooner."from site

(Aproximate dollar value of points based on rewards: 100pts = $0.50-1)
**see below

(Aproximate dollar value of points based on rewards: $1 = 200 pts)

If you redeem every time you hit 1,000 points then you're right, you only get a $5.00 gift card. But 5,000 points gets you a $50.00 gift card, so the value is really $1.00 per 100 points. So you take a big hit if you're impatient.

this seems pretty good since all the citibank cards i have, free points would be nice, must look into this abit more

the list of credit cards is taken from the website. the driver's edge card is not listed there.

jimbocobb said: dagr8vik said: the list of credit cards is taken from the website. the driver's edge card is not listed there.

Well, I can tell you from experience that it was added (to the thankyouredemptions list) several months ago. I'm using it.

I was able to enroll in the program with a regular Citi Platinum Select card.

Well, I called on that.

Apparently, I still need a checking account in order to put on the mortgage. Even though I already have my drivers edge card linked up.

And the mortgage is worth a whopping 100 points/month. So an extra buck/month.

Unless I do a citi promo here for signup cash (which I'll eventually do once I stop being lazy), I don't think it's worth it.


-Mike

MOZZY said: I am extremely pleased with the thankyouredemeptions. They sent me gift cards each time. When I redeemed my 5000 points for Staples I recd a $50 Staples gift card with no expiration and no limitations.

In comparison American Express rewards program sent me a $50 off $50 coupon which must be used within 6 months and cannot be combined with any other instant saving coupon and a lot of other limitations. WTF!!

Whoa... How'd you already get so many points already? The program has just been going for a few weeks, right? Or has the program been going on with the credit cards, and the new program that is open to everybody is the one that just started a few weeks ago?

Whoa... How'd you already get so many points already? The program has just been going for a few weeks, right?

Citi's "Diamond Preferred" card has been around at least since January; and the AT&T Universal "Rewards" card (which is actually another Citibank card) has been around at least since Sept. '04. Both of these give "Thank You Redemptions" points.

Nice thing about this program is that they've always been very prompt in mailing out the gift cards when I've called to redeem my points.

Each of these cards was advertised in those newspaper inserts, so I guess that's considered "available to everyone."

kenshintkd said: If I enroll in this Citi's Thank You Redemptions program with my citi card, would I still be able to get the Cash Back reward from my citi card?

Thanks!

No, you can either have CashBack or Thank You points, not both.

i doubt you'll ever be able to trade in points for cash outside of the points system. The thank you points themselves can be traded in for a statement credit within the thank you points plan at a rate of 100pts = 50cents (the lower limit of points value).

agentjfong said: Whoa... How'd you already get so many points already? The program has just been going for a few weeks, right? Or has the program been going on with the credit cards, and the new program that is open to everybody is the one that just started a few weeks ago?

It takes your current balance of the CCs that it links to your SSN. When I signed up yesterday, it found my drivers edge card, and gave me ~30,000 points. Since I have approx $300 in rewards earned on the card, that sounds right.

It did NOT find my cash rewards card. Which is fine, I suppose.

Now, i dunno if those rewards were "transferred" to the thankyourewards, or if they are just summed up and pooled in real time. But I can always use Home Depot cards anyway, so it really doesn't matter.

-Mike

dagr8vik said: i doubt you'll ever be able to trade in points for cash outside of the points system. The thank you points themselves can be traded in for a statement credit within the thank you points plan at a rate of 100pts = 50cents (the lower limit of points value).

Yea that's my biggest complaint about the thank you network, you don't get Cash Back. There's also no bonus for going through their network. You'd be nuts to redeem your points for a statement credit (17,000 points for $100 credit). If I can get a $100 gift card by spending $10k on my Diamond Preferred Rewards Cards or get a $100 check by spending the same amount on my Platinum Select Dividend, I'm choosing the latter.

doubt you'll ever be able to trade in points for cash outside of the points system. The thank you points themselves can be traded in for a statement credit within the thank you points plan at a rate of 100pts = 50cents (the lower limit of points value).

When I applied for my Driver's Edge, they said I'd have to close one of my other Citi cards first and I chose the Diamond Preferred. I had 1,000 points on that and the guy offered to convert those points to a $50.00 credit on the Driver's Edge card. So I said, "But wouldn't 1,000 points be worth a $100.00 gift card?" He put me on hold for awhile and then gave me the $100.00 credit. So in some cases at least, it can be done.

workingonit said:
Sure, till you max out the cash-rebate card. Then those points start looking decent.

Edit: what I meant to say was, till you max out the $300.00/year cash rebate on your Platinum Select card.

Eh, then I use my other Cash Back cards like Discover, etc. With all the options out there, cards like this one that basically make you get gift cards are my last resort.

I think this is a great deal. For both the consumer and Citibank.

Citibank gets the consumer to increase number of different services that Citi provides, and the consumer gets a little "carrot" (of course it could be better rewards, but that fact is that Citi is one of the first to give points for checking, CDs, Savings, etc). If this leads to more competition, it will benefit us.

I call yesterday to enroll (since I had a citibank ez account, for the ipod mini of course and had invested the min 1500 balance in CDs. I also have to do bill pay (again b/c of the ipod mini offer). I linked this account to my other bank account (which the CSR said electronic deposited counted as direct deposit, not sure if she had correct info). Anyways, after all this, I have like 5 services that they provide... and I will be getting about 150 points each month. She said more information will be mailed, so i can't wait to find out.

And all this is just BONUS for me, I mean I opened citibank ez account for an ipod, and now the gift keeps giving Combine with my Credit cards with them, and the points could add up fast.

more info on the points for checking-
it seems it's a little exponential so getting additional services could be real hot!
for example, a CD and checking plus are free 'services' that could give you an extra ~200 points/month free!

fixed link to points structure

you also get points for debit card purchases;
1/2pt per $1 on signature purchases
1/3pt per $1 on PIN purchases

personally- i'm switching from the dividend to the diamond thank you points as my preffered card

drrrr.. I have been with Citi for over 10 years and I just found out about this program!!!
I guess I should pay more attention to the things they send me.
Thanks to everyone.. I just signed up.

If you order a gift card with them, how long does it usually take to receive it?

So 2 separate CDs count for 2 'products and services' or just one, since they are all CD after all?

should i open a citi 9month cd acct now, or wait till the next fed interest rate hike?

and how soon after the rate hike does citi bump it's rates up?