I got a Citi ThankYou Premier card a few months back because they had a promotional deal to get 50,000 points after spending $3000 in 3 months. I've met the required spend and now I've got my points. They have a few options to use the points. The best option is to book travel through Citi which gets you about 1.25¢ per point. I plan to hang on to my points for the time being to maybe use them for future travel. My backup choice to cash out the points is to get gift cards. Gift cards aren't as good as cash but they could be close to it if you get a card for a merchant you'd shop at anyway. Gift cards seem to be generally 1¢ per point on ThankYou rewards so 2500 points gets you $25 in gift cards.
Here is a simple copy / pasted list of all the gift cards you can get with ThankYou points as of September 8th.
1-800-FLOWERS(R)
American Eagle Outfitters
Avis(R)
Barnes & Noble
Bath & Body Works®
Bed Bath & Beyond®
Best Buy®
Bloomingdale's
Brinker International®
Brooks Brothers
Budget(R)
Buffalo Wild Wings
Build-A-Bear Workshop(R)
CVS/pharmacy®
Cabela's
Carnival Cruise Lines(R)
Cheesecake Factory
Citi Bike
Cracker Barrel
Darden Restaurants®, Inc.
Dean & Deluca
Destination Maternity(R)
Dillard's
EXPRESS
Enterprise Rent-A-Car
Foot Locker
Gap
Gilt
Hyatt Hotels & Resorts(R)
Kohl's
L.L.Bean
Landry's Restaurants Inc
Lands' End(R)
Legal Sea Foods
Lowe's®
Macy's
Mandarin Oriental
National OurEnergy
Nike
Omaha Steaks(R)
Panera Bread®
Papa John's
Red Door Spas
Red Robin
Regal Entertainment
Regis Salon
Restoration Hardware
Royal Caribbean International(R)
Ruth's Chris Steak House
Saks Fifth Avenue
Sears
Sephora(R)
Sports Authority(R)
Staples(R)
Starbucks
Sunglass Hut
T.J. Maxx/Marshalls/HomeGoods
TGI Fridays™
Target
The Childrens Place
The Home Depot®
The Limited
Tourneau
Victoria's Secret
Walmart
Williams-Sonoma(R) Inc.
iTunes
The list is going to change over time but they don't seem to change it too frequently. I bolded a few merchants that would be practical choices for lots of people.
There is a lot of variety there and if you do choose to cash out points with gift cards then you can likely find something valuable to you.
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