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Update: Some offers mentioned below are no longer available. View the current offers here – Citi ThankYou Premier
This week, Citi announced that eGift cards will now be available for purchase through ThankYou.com, in addition to the physical gift cards that have been offered for years. Emails were sent to ThankYou Rewards members introducing the new redemption option, and several dozen eGift cards already appear on the site. Not all gift cards can be delivered electronically, but a number of popular retailers are currently available, including Target, The Home Depot, Best Buy and Staples.
This is good news for anyone who uses rewards to cover retail purchases, since you’ll only have to wait a few minutes (instead of weeks) for gift cards to be delivered. While there are certainly more valuable ways to redeem ThankYou Points, Citi offers a fairly consistent redemption value of 1 cent per point toward gift cards (including these new eGift cards), which is better than the return you’ll get by redeeming for merchandise directly. You can earn ThankYou Points with a variety of cards, including Citi Prestige and Citi ThankYou Premier.
Citi used to offer eGift cards to Amazon.com before adding the Shop with Points feature several years ago. This broader rollout of electronic delivery options shows that Citi is continuing to make improvements to the ThankYou Rewards program. While eGift cards are a modest benefit compared to new airline partners and transfer bonuses, it’s worth noting that Ultimate Rewards only offers physical gift cards at present.
Once again, gift cards aren’t a strong redemption option, but if you need to make a purchase and you’re short on cash, Citi’s electronic gift cards can help you act quickly when you find a good price.
Citi ThankYou® Premier Card