Any Citi Prestige rewards card holders?

[RobZ]

I am seeking to confirm the value of Citi ThankYou points if redeemed for cash back or statement credit. I can't find the info on their site. I have read conflicting articles saying they are redeemed for one point equals one cent, or other articles state one point is only one half of a cent.
I am not a miles guy. I prefer cash back. My Uber Visa card, is changing and downgrading their benefits. They did have 4% cash back on restaurants which is my greatest expense by far. So now I'm looking for a strong replacement card. The Citi card offers 5x on restaurants in 5x on airfare.
I am a prior Chase Sapphire Reserve card holder, but I closed that account and must wait two more years before reapplying.
I use Fidelity Barclays Visa as my 2% catch-all card.

[BuddyJet]

Quick answer is 1/2 cent for actual cashback and 1 cent for gift cards.

https://www.fool.com/the-ascent/credit- ... nts-worth/

Prestige isn't great for cashback but worthwhile for travel points.

Personally, I use the Amex Gold for restaurant and grocery bonus points. For cashback, the BoA Premier at 2.625% if Plat level at BoA.

[RickBoglehead]

Costco gives 3% for restaurants.

[SuzBanyan]

Quick answer is 1/2 cent for actual cashback and 1 cent for gift cards.

https://www.fool.com/the-ascent/credit- ... nts-worth/

Prestige isn't great for cashback but worthwhile for travel points.

Personally, I use the Amex Gold for restaurant and grocery bonus points. For cashback, the BoA Premier at 2.625% if Plat level at BoA.

From the linked article: “If you have the Citi Prestige® Card, the cashback rate bumps up to $0.01 per point, but it's still not a great option for that card.”

For the OP, you can redeem for cash back in increments of $50 or $100. So charge $6000 to restaurants/travel, earn 30,000 TYP, get $300 cash back. But you still need to pay the $200 net annual fee (after $250 annual travel credit), so your net is $100. In comparison, charge $6000 to restaurants/travel on no-fee Fidelity, and get back $120.

[gougou]

1 TY point equals to 0.5c if redeemed for statement credit.

You could redeem for loan payment which gives 1c per TY point. Here is the link:
https://www.thankyou.com/tyProductDetai ... rc=TYUSENG#

It's a bit of hassle but Citi mails a check to your address and you could just deposit it into your bank account.

[RobZ]

From the linked article: “If you have the Citi Prestige® Card, the cashback rate bumps up to $0.01 per point, but it's still not a great option for that card.”

I saw that as well. I'd like to know if any current card holders can confirm this?

[RobZ]

For the OP, you can redeem for cash back in increments of $50 or $100. So charge $6000 to restaurants/travel, earn 30,000 TYP, get $300 cash back. But you still need to pay the $200 net annual fee (after $250 annual travel credit), so your net is $100. In comparison, charge $6000 to restaurants/travel on no-fee Fidelity, and get back $120.

I do $12k to $15k per year in restaurants and travel.

[SuzBanyan]

From the linked article: “If you have the Citi Prestige® Card, the cashback rate bumps up to $0.01 per point, but it's still not a great option for that card.”

I saw that as well. I'd like to know if any current card holders can confirm this?

I can confirm it is currently an option, but I haven’t used it. Check back with me early next year when I redeem my TYP just before cancelling the card. Not interested in putting travel on this card with the loss of travel protection. The resort I used to get a $500+ credit as my 4th night free no longer participates in that program. After I use next years $250 credit (and cash in my TYPs), I’ll cancel.

[RobZ]

OP here: I have my Citi Prestige card now, and logged into ThankYou.com.
I can confirm Citi Prestige offers $0.01 per point for cash back and statement credits.
The increments, as cited above, begin at $50 for cash back, and $10 for statement credit.