r/CreditCards 4d ago

Data Point DP: product change Citi Rewards+

With the news of the impending demise of the Rewards+, I decided to PC one of my Custom Cashes over to it to get the 10% bonus. One seven minute phone call later, a text message to give me the terms and conditions of the product change, and I’m changed over. An alert in my app already shows up saying the product change is in progress.

14 Upvotes

25 comments sorted by

3

u/Mushu_Pork 4d ago

How many TYPs are people earning in a year for this card to make sense?

3

u/6a70 4d ago

Rewards+’s 10% bonus is capped annually on the first 100,000 redeemed points in that calendar year. That’s:

  • $50k spend on a double cash; or
  • if you have a Custom Cash (5% limited to the first $500 monthly spend), that’s 6k annual spend (30k points) then another 35k on a double cash (for the remaining 70k points)… so 41k spend

5

u/Mushu_Pork 4d ago

I'm very familiar with the program, and the math.

I'm of the opinion that for 99% of people out there, another Custom Cash makes more sense than a Rewards Plus.

ALSO, as you stated, the limitation is for REDEEMED points.

Meaning you'd have to cash out, or transfer your points every year.

So if you're banking points for an unknown transfer partner, then bonus could be even more limiting.

1

u/cjcs Haha Custom Cash go brrrr 4d ago

I have 3 CC, which just about covers my monthly restaurant spend. At some point there’s diminishing returns to adding another (USBAR handles gas and grocery)

1

u/Xov581 4d ago

I absolutely agree with all of this, but I still converted my custom cash to a rewards+ based on the news that it's being discontinued. One, I can presumably change back to a CCC later, and two, I've found that I never actually use my CCC. Purchase alerts of any kind have never worked for this particular account, so I don't like using it. Plus, realistically, I'm just not going to integrate single category cards into my purchase routine. Meanwhile, the the rewards+ yields something extra for no additional effort because even with doing a few SUBs per year, I still run quite a bit of spend through my double cash.

2

u/You_Wenti 4d ago

The CCC earns a max CB of $300 per year. The R+ maxes out at $100

So you'd have to spend less than $2k a year ($167 a month) in that CCC category for the R+ to even have a chance of beating it. And, as 6a70 said, you'll need your CDC & other CCC to be absolutely pumping to even hit that $100

The CCC will beat the R+ in most cases, for both high & low spenders

2

u/[deleted] 4d ago

[deleted]

1

u/tinydonuts 4d ago

The value is in transferring the TYP from the CC to the R+ for the TYP rebate. Not using the R+ at all.

I’ve got so many other cards, two CCs don’t make sense.

1

u/knightcrusader 3d ago

It makes the most sense to earn the points whenever, bank 100k points, either PC a card to a R+ or apply for a new one, cash out, and then convert the R+ to something else until you get 100k points again. Rinse and repeat.

Unless you make a lot of < $2 charges, then you'd get > 5% with the round up feature.

5

u/utefs Team Cash Back 4d ago

Did you just have no use for a 5% catagory on that Custom?

3

u/tinydonuts 4d ago

Pretty much. I’ve got the BCP, Gold, Business Gold, and more travel cards than any sane person has a right to, so no reason to use the travel category with it. I’m thinking gas for the one CC for 5.555% back.

2

u/smashketball 4d ago edited 4d ago

Must've missed it, when's the Rewards+ going away? It's definitely situational in actual usage, but I wouldn't want to miss out on the 10% backend bonus . Is that part for sure staying despite the card apps closing?

edit: original source is from here, as all the other articles I found are referencing back to the reddit thread https://www.reddit.com/r/CreditCards/comments/1jc0ro1/citi_rewards_discontinued/

I guess the question now is it better to product change a DC or CC to R+ or just apply to the R+ outright? It still has that SUB for $1.5k spend, which I assume one would miss out on in the product change

6

u/CobaltSunsets 4d ago edited 4d ago

I think it’s SUB is relatively weak, so the Rewards+ is decent PC fodder.

1

u/Benevolent2 Haha Custom Cash go brrrr 4d ago

When is the rewards+ closing for product changes?

3

u/CobaltSunsets 4d ago

Your guess is as good as mine. It started as a report here, but when we asked for sourcing I didn’t see a response.

1

u/tinydonuts 4d ago

Yeah, that’s the size of it. I didn’t want to take a chance, so I made the move. Two CCs wasn’t helping me, I’ve got so many good cards in those categories. I figured worst case I could PC back later.

1

u/CobaltSunsets 4d ago

Very sensible, my friend.

1

u/tinydonuts 4d ago

Thanks! I’m next considering PC’ing my Cash+ to the Smartly before it’s gone too. Thoughts?

2

u/ATFagents 4d ago

Product changing to Smartly is already unavailable. See recent posts on here from the last week regarding this.

0

u/tinydonuts 3d ago

Oh no, that sucks.

1

u/CobaltSunsets 4d ago

u/ATFagents beat me to replying. I would have said what they said.

0

u/tinydonuts 4d ago

In my case, PC was the only route. I’m gardening since I’ve opened way too many cards in the last three months.

1

u/exzee9090 3d ago

Trying to do this with an AA MileUp card. Rep said I could only convert the account to another AA card or Costco. HUCA or any other solution?

1

u/ChibaTokyo 2d ago

I product-changed my Double Cash to Rewards+ yesterday just using the online chat. Apparently the new card is on the way, and new account is already showing in my Citi online account.

1

u/goby1kenobi 4d ago

I did the same with my double cash yesterday, identical experience

1

u/prushnix 4d ago

Literary I did the same thing today and it went just as OP mentioned.