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Earlier this week, my wife and I received notice that our Citi Driver’s Edge Card is being replaced with the Citi ThankYou Rewards Card. It appears that they’re phasing out the Driver’s Edge program entirely, which is fine with me since we pretty much never use this card anymore.
With the Citi ThankYou Rewards Card, we’ll be earning ThankYou points on a 1 point per dollar basis. They also offer an “Anniversary Bonus” that appears to increase over time. In other words, you get a bonus of 1% of the points you earned during the year during your first year, 2% the next year, and 3% thereafter.
If I’m reading the rules right, this means that for (say) $10k in spending in our first year, we’d get 10k points + 100 points, for a grand total of 1.01% in rewards, scaling up to 1.03% after 2 years. Meh. It doesn’t sound quite as generous when you actually do the math.
While there’s no annual fee, and you can earn an unlimited points that never expire, I’ve never been a fan of reward points. The main problem for me is that they it’s too easy to devalue them by re-scaling the prices in the rewards catalog. There are better reward credit cards out there.
17 Responses to “Citi Replacing Driver’s Edge With ThankYou Rewards Card”
Thankyou points have been devalued, just like you warned about. There are very few ways to get 1 cent back for one TYP (basically a few $100 giftcards from select merchants). If you are redeeming TYPs for cash or statement credits, the best you can do is about 3.5 cents for every 5 TYPs.
I sockdrawered my Citi cards a long time ago. Their rewards are not as good as they used to be. I have two Citicards, one I will keep for the history and one (a more recent one) I will close as soon as I pay off the bill.
Citi forces me to wait until I get $50 in order to redeem. Chase allows me to redeem for $20, $25 and so on. I like redeeming $25, $50, etc. from Chase and then using that money to loan at the Lending Club for 7 to 14% interest. In this way, I help out some borrowers, earn better interest than at banks, and get to grow my cashback rebates into more money.
I don’t need the small amounts of $25 and $50, and would fritter it away if I kept it. Loaning these small amounts at Lending Club allows me to grow more
“free money” with little effort.
I’ve used this card for every possible purchase, including many monthly bills, over the past two years. $54,000 and 20,000+ “drive miles” later, I’ve received $1,160 reward dollars. That is a 2.15% total rewards rate. And they have been easy to redeem.
I’m very sorry to see the program go. I plan to switch to the Fidelity 1.5% cashback card.
I have the Driver’s Edge and have been using it as my main card the past three years. Very disappointed in it’s phasing out, as I used the cash built up towards a new car purchase. A shift straight to the ThankYou network is no good, as you need 6000 points to get a $50 gift card.
My city ElitePremierPass is also been phased out and exchanged for a citi thankyou prefered card that I dont really want. They said most of the terms will reamin intact, but I doubt it. I dont believe, I will get points for flying miles if anyone else fly with tickets purchased by the card. Unlimited companion tickets are over too. Although, good riddance. No one seems to like Spirit airlines. I know their service is horrendous, no cus. serv. just to say a few things. But the card giving you the ticket refunds if you decided not to fly was a good assurance. Oh and you need over 16,000 points for 100.00. Guess ill be cleaning my points as there are bad news. If you dont use the reward points,on the first 18 months of exchanging cards you lose them. And if you close the account,A.K.A,you dont accept the deal, you lose them instantly. Exchange is set for March 3.
I totally agree with everyone else. I hated to see it go as I used it to pay for my car repairs. My home rebate card is also being phased out. After confirming that I had 12 months to redeem, the salesman tried to convince me on how happy I would be with the program. But after 5 min. of looking at the rewards and the points needed, I’m not interested. I mean, 185,300 points for a $869 TV @ Conns.com?! NO “thank you”.
The Driver’s Reward Card was the absolute best card for me! I received .01 for every mile driven on prim vehicle as well as 3% on gas, groc, drug, and 1% elsewhere. Paid for a large portion of my vehicle maint each year. Pretty ticked it is switched over to a crappy Thank You plan that looks more like a screw you plan!!!
Citibank just lost another customer. I read the fine print and followed it to \\\”opt out\\\” of the conversion from Driver\\\’s Reward Card to Thank You Points. When done three months ago, they told me that I would stay with Driver\\\’s Reward. Now, they tell me that they messed up and switched me by accident, but can\\\’t switch me back, so my only solution is the new card. No Thank You, I fill find another card after being a Citibank customer for over 20 years.
My drivers edge card since 1993 (formerly a Ford credit card) gives a straight 2% rebate on all purcheses, and sometimes another .2% for a few months a year. I never heard about points for driving miles, or 3% at certain categories.
They have not said they were changing me yet, but not looking forward to it.
I still have my Drivers Edge Charter Card and have not gotten any notice that it’s being phased out. I maxed it out last year and it just reset in February so no problems acruing the new dollars for this year!
Actually, Citibank, nor any of the other credit card companies, are giving away anything! As a former small business owner, I know it is the business that accepts the card who pays for the points. I owned a small shop in a small tourist-type town. One of the many reasons I closed was the cost to accept credit cards. But…at the same time, if you don’t accept credit cards, you will loose a good portion of your sales. Big retailers who have a large profit margin can afford to take credit cards. For the little guy who is maybe making ends meet (or not), it’s a big deal. Next time you visit and purchase from a small retailer, please think twice about plopping down that credit card. Your points are coming out of their pocket!
Citibank called me about two years ago that we were switching me over to a card with Thank You Points. I flat out refused to take a new card so the Driver’s Edge 2% program rolls on for me. It does seem like they make the form hard to find. I had to email them once, they sent me a link and all was well. Several months later, went back to get another form and “file not found”…. This one still works: https://www.citi.com/credit-cards/template.do?ID=credit-card-vehicle-form
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