I’ve written in the past about how I’m not a big fan of the Citi ThankYou Rewards program. The main problem was that you had to pay a premium for lower dollar value rewards — e.g., 1500 points for a $10 gift card and 3500 points for a $25 gift card. Since the earning structure is the same as other cash back cards, points should be worth a penny each. However, for lower dollar value rewards, you end up getting far less than a penny in return.
The upside used to be that $50 gift cards could be had for 5000 points — fair market value. Well… It seems that Citi has now reworked their price structure such that $50 gift cards now go for 6000 points. In other words, the argument that you can just save up your points for a higher dollar value no longer holds water.
Bottom Line: Instead of using the Citi ThankYou Rewards you could try using a straight cash back card like the Citi Dividend Platinum Select Visa Card instead.
Hat tip to commenter Buddy Hall for bringing this change to my attention.