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Citi slashing cash-back redemption on Strata Premier by 25%

May 19, 2025
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3 min read
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Editor's Note

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Cardholders of the Citi Strata Premier℠ Card just got some negative news. Thanks to FrequentMiler for breaking the news.

Many Citi Strata Premier cardholders received an email Monday indicating that the cash-back redemption of their ThankYou points will be reduced from 1 cent per point to 0.75 cents per point. This change goes into effect as of Aug. 24.

It's a blow to one of the best travel rewards cards out there, but perhaps its impact might be limited for many cardholders who instead prefer to transfer their points to the ThankYou Rewards program's airline and hotel transfer partners.

The email

Interestingly enough, it seems as if not all cardholders of the Strata Premier received an email. Several other TPGers and I did not, but Senior Editorial Director Nick Ewen received the email. Here is what it said:

Citi TY Cash back devaluation
CITI

This comes as quite a shock, but it's not the first one we've had lately, as Citi devalued Emirates Skywards points transfers last month.

Cardholders of other Citi cards, including cash-back ones like the Citi Double Cash® Card, do not seem to have received an email.

That would be strange to see, considering the Double Cash is marketed as earning double cash back. That's because it is marketed as earning up to 2% on every purchase, with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. If those points suddenly are not worth 1 cent apiece, then the card's value proposition changes entirely. There's no indication that will happen, though.

Looking ahead

For now, the cash-back redemption option for some Citi Strata Premier cardholders has diminished by 25%, from being able to redeem their ThankYou points for cash back at a rate of 1 cent apiece to a mere 0.75 cents apiece.

Still, you can consistently get better value from your Citi ThankYou points by transferring them to the program's many airline and hotel partners, including Air France-KLM Flying Blue, Singapore Airlines KrisFlyer and Wyndham Rewards.

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Based on crowdsourced data on the TPG team, it seems like cardholders without a Citi cash-back card linked to their Citi Strata Premier are the only ones affected. For now.

If you prefer using your Citi ThankYou points for cash back or do so on a case-by-case basis, carrying a card like the Citi Double Cash may make sense in the long run, given this change. Barring that, make any cash-back redemptions you intended to with your Citi ThankYou points ahead of the Aug. 24 deadline.

Bottom line

This development is a significant drawback for those who prefer redeeming their ThankYou points for cash back. Even if you did not receive an email detailing this change, be sure to check your Citi account when logging in so you don't miss any announcements.

As of now, however, this is just another devaluation to hit the Citi Strata Premier, and I can't help but wonder if this is Citi's way of setting up its lineup of Strata cards for an upcoming card or an overhaul of its existing cash-back card lineup.

Related: Best cash-back credit cards

Featured image by CHRISTOPHER DILTS/BLOOMBERG/GETTY IMAGES
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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  • Packed with credits foodies will enjoy
  • Solid welcome bonus

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  • Some may have trouble using Uber and other dining credits
  • You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
  • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
  • Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
  • Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
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  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
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