I have 180,000 Citibank Rewards points.
I don't want any holiday and airline discounts.
I am thinking the best value would be the Woolworths gift cards since it will pay for groceries.
Is there something I'm missing?
Thanks!
Citibank Rewards points - Best Value for Money?
Alex10 on 26/04/2020 - 09:55
Comments
I have about the same amount of points and have been thinking the Woolworths gift cards might also be the way to go
There are Westfield ones as well although stores closed. I'd check cards section. There's Myers and DJs as well.
Thats a thought but then again with the Woolworths gift cards seeing I shop there every week I know I will use them.
The question remaining are the Woolworths gift cards the best value for points out of their selection ?
Hang onto them for now, to see which airlines survive.
Best value IMO is transferring to KrisFlyer
Get a few more points and buy the Q3100 BBQ; thats what I did :)
I did something similar when I had a heap of free QFF points a couple of years back. Sure wasn't the best value for money (although I did get it on a points sale) but it sure felt great getting it. Haven't regretted it one second.
If you're not in a rush then wait for an offer to transfer to another program with a discount / bonus. I transferred a couple hundred thousand Citibank points to velocity with a (I think 25%) bonus a year or so ago (and redeemed pretty much all the velocity points a few weeks ago for gift cards).
I could be wrong but if you are looking for a cash-equivalent redemption then it seems that a transfer to FlyBuys might get the best value. One Citi Rewads point = one FlyBuys point which can be redeemed in blocks of 2000 for $10 FlyBuys Dollars. Use FlyBuys Dollars to buy Coles groceries. So 0.5 cents per Citi Rewards point.
Gift cards will give you more options than taking up their own products. Depends on what you want to do.