Citibank Rewards, Redeem for *Eligible Purchases Vs Virgin Miles

Peck on 13/12/2016 - 11:54

I just received notification of this today.
http://www.citibank.com.au/cards/selectandcredit/
And I did some sums. I have rounded off for simplicity.
2000 Citibank rewards points rebates $8.
Or can be redeemed equal to 800 Virgin Velocity points (2.5:1) Or 1000 Virgin Velocity points (2:1). You need to login to your account to see if you get 2:1 or 2.5:1.
https://www.citirewards.com/getAllPXPartners.htm?cmp=nav&lid=sub-nav|travel|points-transfer
One benefit that I see is that there does not appear to be a minimum for the 'Eligible Purchases Redemption' whereas on my account there is a minimum of 20,000 Citibank rewards points for Frequent Flyer points transfers.

Financial

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Citibank Australia
Citibank Australia

Comments

  • bluesky on 13/12/2016 - 18:23

    Hi Peck,

    In the past, I redeemed Coles cards - $50 = 9,300pts, which is equiv to $1 = 186pts.
    This cashback works out to be $1 = 250pts.

    So while flexible, they really impose a cost to it. Unlike the Amex cashback for Essential card, for e.g., where it is close to or same as redeeming cash-equivalent rewards (supermarket cards etc).

    (Naturally, it could be different valuations for different things redeemed. For me, I will probably continue to redeem Coles card in the future, instead of this cashback).

    • Peck on 13/12/2016 - 20:41
      +1

      True, & good maths. Yep I didn't think that Redeeming for 'Eligible' purchases was anything tempting. Also, when I finally reach the redemption mark of 20,000 Citibank reward points it equates to $107 worth of Coles cards, or 10,000 Virgin Velocity points.

  • jaypeee on 13/12/2016 - 22:13

    Still not as much bang for buck as flight rewards & upgrades yeah?

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