Citi has announced a major reduction in the value of its ThankYou Rewards points, leaving customers frustrated and searching for better alternatives. Starting August 24, 2025, cardholders will see a 25% cut in the redemption rate for cash back, dropping from 1 cent per point to 0.75 cents.
The change primarily affects Citi Strata Premier and Citi Prestige cardholders. Those who rely on their points for statement credits will now receive significantly less value. A 10,000-point redemption, which previously provided $100, will now yield only $75.
Citi has framed the adjustment as part of a broader restructuring of its rewards program. The company is encouraging customers to explore alternative redemption options, such as travel bookings and gift cards. However, many cardholders feel blindsided by the sudden shift, arguing that the bank is quietly reducing benefits without offering meaningful compensation.
The backlash has been swift. Financial analysts warn that Citi’s move could push customers toward competing credit card programs. Chase, American Express, and Capital One continue to offer 1 cent per point for cash redemptions, making Citi’s cutback stand out as a clear downgrade.
Some cardholders may still be able to avoid the devaluation. Those who hold a Citi Double Cash or Citi Custom Cash card alongside their Strata Premier or Prestige account can pool their points and maintain the 1 cent per point rate. However, this workaround is not available to all customers, leaving many stuck with the reduced value.
Sources:
https://upgradedpoints.com/news/citi-reduce-value-points-redemption-statement-credit/
https://milestalk.com/specific-details-on-the-changes-to-citi-cards-points-to-cash-out/