Citibank’s ThankYou Network And Their Expiring Reward Points

While Citibank’s ThankYou Network brings with it many benefits, they have more than a few unattractive features that can really turn you off from using them as much as you want to.

The biggest beef, for me, is the need to continually take account of my accumulated points. Most of Citibank’s credit cards add an expiration date to points earned, which varies according to the specific terms and conditions of the particular account you own.

In exchange for the continued hassle of tracking your reward points, however, Citibank usually offers a better system for earning points. Unless you’re vigilantly keeping tabs on your rewards, though, they can all go away in an instant.

The second problem with the ThankYou Network is the redemption rate on the rewards points. Like other networks, the ratio usually gets better with the more points you’re going to redeem. Since the points expire, however, you can’t wait the few years that most average credit card users need in order to qualify for redeeming top-value items. As a result, many end up redeeming their points at rates that are frequently in the 50% to 70% range, instead of the ideal $1 for every $100 you spend, lest lose the privilege entirely.

In general, the ThankYou Network is a great rewards program for heavy credit card users who accumulate points fast and plenty.  If you’re not a heavy a credit card user, you might want to shop for a different issuer than Citibank or, at least, find a Citi offer with non-expiring points.