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Citibank to decrease value of point transfers to Emirates by 20

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Citibank to decrease value of point transfers to Emirates by 20
Research
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Ayana Morali Contributor | The Points Guy

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.

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Fortunately, Emirates is also a transfer partner of other credit card programs including American Express Membership Rewards, Bilt Rewards, Capital One miles, and Chase Ultimate Rewards, which continue to offer a 1:1 transfer rate.

There is concern about whether this action will prompt other credit card companies, along with airline and hotel partners, to reevaluate their reward transfer rates. Future trends in credit card rewards could see more devaluation if such changes continue. The outcome of this shift remains to be seen.

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