Citi Double Cash Moving to Points System — but You Still Get the Same Cash Back

The card, a pioneer among high flat-rate cash-back credit cards, is also eliminating its $25 minimum redemption in most cases.
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The venerable Citi Double Cash® Card is changing its rewards to a points system, but cardholders will still be able to redeem their rewards for cash back at the same rate they did before.

The card is also eliminating its minimum $25 threshold for redeeming rewards.

1 point = 1 cent in cash

Citi® Double Cash Card
NerdWallet rating 

According to Citi, starting on March 28, 2022, rewards earned on the card will appear as Citi ThankYou points instead of dollars and cents. This means:

  • Instead of earning 2 cents per dollar spent (1 cent when you make a purchase, and 1 cent when you pay it off), you'll earn 2 ThankYou points per dollar spent (1 point when you make a purchase, and 1 point when you pay it off).

  • Existing cash rewards in your account at the time of the change will automatically be converted to ThankYou points. Instead of a rewards balance of, say, $123.45 cents, your account will show 12,345 points.

ThankYou points are worth 1 cent apiece 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. So the switchover to a points system won't affect the card's ability to earn cash back:

  • Previously, if you bought something for $200 and paid it off, you'd earn $4 cash back.

  • After the change, you'd end up with 400 points, worth a total of $4 when redeemed for cash back.

Since 2019, the $0-annual-fee card had already allowed cardholders to convert their cash back into ThankYou points at a 1:1 ratio. But now, the card will earn points directly and by default.

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.

🤓Nerdy Tip

If you also hold other Citi cards — such as the Citi Strata Premier℠ Card — you have many more transfer-partner options and can combine points across your Citi card accounts, including points earned on the Citi Double Cash® Card.

Minimum redemption changes

In addition to the change in rewards earning for the Citi Double Cash® Card, 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.)

The takeaway

Maybe you saw that the Citi Double Cash® Card will now give rewards as ThankYou points instead of simple cash back. But there’s no need to worry: You can redeem those points for cash back at the same rate you’ve always gotten. In fact, in some ways, redemption will be even easier.

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