(Now live) Citi Double Cash Card To Earn ThankYou Points, Still Redeemable As Cashback

The Double Cash card no longer has a $25 minimum to redeem rewards and the card now earns Thank You Points.

There will be a change to the Double Cash card by the end of March. The Double Cash card can still be redeemed for ThankYou points, even though it won't earn the same amount of cashback.

The announcement about the changes can be found here. The changes will take effect on March 28, 2022.

The changes won't make much of a difference for many Double Cash cards. The Double Cash card can be converted into ThankYou points if you have a Citi Premier or Prestige card.

If you don't have one of those cards, the increased redemption options from earning ThankYou points won't be useful. When redeemed as a statement credit, check or direct deposit, ThankYou points will maintain the same value. There will be more redemption options, but all of them are capped at 1cpp of value. It's possible to buy gift card brands at a similar discount from elsewhere, so it's not too compelling that Citi occasionally offers a discount.

There are some positive developments with this change. There will be no minimum redemption requirement of $25 when you redeem your cashback as a statement credit or direct deposit.

If one of the premium cards was your only ThankYou points-earning card, the Double Cash card is a better downgrade option. I converted my Citi premier card to a custom cash card because I wanted to maintain my ThankYou points balance. The ability to convert to a Double Cash card from March 28, 2022, is a nice development.