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Citi recently added another method for redeeming ThankYou points earned with cards like the Citi Prestige — but you might want to think twice before using it. Members will now be able to shop with an app called “Wonder,” which allows you to purchase digital gift cards with ThankYou points. As usual with gift card redemptions, the value of your points will be fixed and typically ends up not being the best deal.
For instance, 50,000 ThankYou points can be redeemed in the app for $400, translating to about 0.8 cents per point in value — not a great offer, in fact it’s only half of the 1.6 cents per point TPG lists out in his latest valuation of Citi ThankYou points. Alternatively, you could redeem 50,000 Citi ThankYou points for at least $800 with one of Citi’s partners like American Airlines and get substantially more value than you would with a gift card.
Ultimately, it’s probably best to skip this option. As with other gift card redemptions, you can get much more value by using your Citi ThankYou points for other purposes.
While Citi announced some negative changes to this card back in July — including a lower sign-up bonus, the elimination of Admirals Club access and the end of the free rounds of golf benefit — one of its most valuable perks still remains, which is the 4th Night Free perk. This benefit alone can save you thousands of dollars a year if you use it to its full advantage.