Citibank to decrease value of point transfers to Emirates by 20

In a recent communication to Citi ThankYou Rewards members, Citi has announced a significant change to its reward point transfers with Emirates Skywards. Currently, cardholders of Citi Strata Premier℠ can transfer ThankYou Rewards points to Skywards at a 1:1 rate. However, starting July 27, this transfer rate will be devalued by 20%, meaning every 1,000 ThankYou Rewards points will convert to 800 Skywards miles. This change alters the transfer ratio to 5:4.

The devaluation raises questions about the potential for similar moves from other credit card programs. The change reduces the value of loyalty points when transferred to Emirates, a carrier that has experienced several devaluations and added high surcharges to premium flight awards in recent years. Nevertheless, some beneficial redemption options remain available, such as flights from John F. Kennedy International Airport to Milan and Newark to Athens, which have relatively low fuel surcharges.

This revised transfer ratio requires more points for certain award flights. For example, booking an economy flight from New York to Milan would now require transferring 22,000 ThankYou points instead of the previously necessary 18,000.