Citi Strata Premier Credit Card: Cash-Out Value Decreased, but Other Cards Still Offer a Workaround

【Updated 2025.5】According to DansDeals, if you have a Double Cash or Custom Cash, you can still cash out at a 1:1 rate, so this change does not affect you. These two no-annual-fee cards are still quite useful and worth keeping for the long term.

Luckily, there’s an easy workaround that Citi has confirmed to DansDeals will work. Premier or Prestige cardholders who have a Citi Double Cash® Card or Citi Custom Cash Card linked to the same ThankYou account will continue to be able to cash out at a value of 1 cent per point, even after 8/23.

This card’s cash-out rate has been reduced. It used to be that 10,000 points could be redeemed for $100, but after August 24, 10,000 points will redeem for just $75. If you were planning to cash out points, you may want to do it soon. That said, most people probably use TYP mainly for airline miles or hotel points, so the impact may be limited.

The welcome bonus on this card is 60,000 points. Valuing Citi points at 1.3c/p, that bonus is worth about $780, which is quite solid. It’s also a very versatile card for bonus earning categories.

• Application link

Citi Strata Premier Credit Card Review

Highlights

• Broad travel coverage and strong bonus categories: The card still earns 3x on travel and gas, and now also adds supermarkets, restaurants, takeout, and EV charging. This is a very positive change. It makes the card a great one-card setup option, since it covers not only major travel spending categories but also everyday supermarket and dining purchases. If you pair it with a Double Cash, you could almost stop using your other cards.
• $100 hotel savings benefit: Must be booked through the Citi Travel Center, and the reservation must exceed $500 in one booking. In general, many hotel stays cost around $100-$200 per night, so you may need a longer vacation to fully use this benefit.
• Solid trip cancellation protection
• No foreign transaction fee: A must-have feature for a travel card; otherwise, using it abroad for hotel bookings and other purchases would be painful.
• Citi card benefits
  • Price Rewind: If an item drops in price, you may be able to get Citi to reimburse the difference
  • Free FICO credit score: Provided by Equifax, with historical tracking shown in chart form
  • Private Pass: There was once a free movie ticket offer, though I personally missed it
  • Generous retention offers: When the annual fee posts, threatening to cancel may lead to a promotion

Drawbacks

• After the first year, it can be hard to earn back the annual fee through spending alone if you do not travel much, unless you keep receiving good retention offers each year

About the Points Program

• Point value: Average value is 1.5c/p, 100 TYP = $1.5 (Point value and analysis)
• Direct redemption: Redeem at 1c/p for Statement Credit
• Point transfers: 1:1 transfer to AA (good for U.S.-China and U.S.-Europe redemptions, especially premium cabins); 1:1 transfer to Virgin Atlantic miles (good for Delta One nonstop awards and ANA round-trip first class between the U.S. and Japan); 1:1 transfer to Avianca miles (good for U.S.-China business class, ANA and Asiana first class between the U.S. and China, with no YQ on ticketing); 1:1 transfer to Qantas Airways (QF) miles (good for nonstop U.S. domestic awards and U.S. East Coast to Western Europe). You need to hold the ThankYou Premier or Prestige to transfer TYP to airline and hotel points.
• Program features: You can pool all TYP points into one account and use them together. TYP points on each card expire separately, so it’s best to use up the TYP from a card before closing it. You can transfer up to 100k TYP per year to a friend’s account.
• My quick take: For TYP airline partners, just keep AA, AV, and VS straight. Hilton as a hotel partner is also not really worth transferring to. Redeeming for cash/gift cards is only worth 1 cent per point. So the value is about 1.3c, and a few of the more niche airline partners still make it interesting.
• Detailed analysis: ThankYou Points guide>>

My Take

Previously, I mainly held Citi AA cards and Dividend, so I did not really use Citi’s ThankYou Points ecosystem. The reason was simple: in the past, ThankYou Points were not very valuable and could basically only be redeemed 1:1 for gift cards such as Walmart. But now they can be transferred 1:1 to airline miles and hotel points, or redeemed for cash directly. This card also earns very well on travel spending, so I decided to apply for it. I also made good use of it on a recent Disney trip: Disney spending summary. On top of that, if you can use the annual $100 hotel benefit, it is almost like having no annual fee.

Overall, this is a strong card to carry for travel, with broad coverage across both travel and everyday spending. If you have substantial travel and daily expenses, it may be worth keeping long term. Otherwise, if there is no good retention offer, consider canceling after a year—and remember to use or transfer out your ThankYou Points first.

Application Tips

• If you apply on a phone and the application page shows only a bunch of blank boxes, switch your system language to English and the application should work normally. Citi’s IT can be pretty rough.
• If you already have a Citi checking account or even Gold, approval may be easier. If your credit history is less than one year, I would not recommend this as your first Citi card.
• Important: There are currently three restrictions. Different application links may have different terms, so be sure to read the language on the page.
  • If you have opened or closed a ThankYou Preferred/Thank Premier/Prestige card within the past 24 months, you will not be eligible for the welcome bonus again.
  • If you have received a welcome bonus on a Citi premier/strata premier card within the past 48 months, you will not be eligible again.
  • If within the past 48 months you converted another card into this one, and the original card had received a welcome bonus within the past 48 months, you will not be eligible for a new account bonus.

• Citi application status link or call: 877-343-4118
• 8/65/95 rule: You can apply for only one personal card every 8 days, only two personal cards every 65 days, and only one business card every 95 days. This refers to application submission limits, regardless of whether you were approved or not.
• 24/48-month welcome bonus rule: If you have received a welcome bonus on a ThankYou Points card within the past 24 months, you will not be eligible to receive the bonus again. For AA products, the restriction is 48 months, but both rules apply only to the same card; there is no restriction across different card families.
• You can call the reconsideration line (800-763-9795) to speed up the credit card approval process or ask a representative to review a denied credit card application again.
• Having a Citi Checking/Gold relationship may help with your application.
• More about applying for Citi credit cards

Application Link

• Citi Strata Premier