Citibank "Select and Redeem"

[OzEire]

I had seen some promo on the Citi banking portal recently for a scheme that allows you to choose a statement item from the last 60 days and claim it as a points redemption.

After a few sums it was clear that this is a poor use of points. Citi "sells" this redemption at 250 points per dollar. Better value can be found buying prepaid gift cards at about 185 ppd, or coles/bunnings, etc at about 175 ppd.

Citi also sells SQ KF points / miles or VA points for 2:1. If you value KF/velocity at about a cent each, then you are getting them at 200 ppd.

Still better than direct cash back via statement credits which cost 400 ppd.

 

[Happy Dude]

I had seen some promo on the Citi banking portal recently for a scheme that allows you to choose a statement item from the last 60 days and claim it as a points redemption.

After a few sums it was clear that this is a poor use of points. Citi "sells" this redemption at 250 points per dollar. Better value can be found buying prepaid gift cards at about 185 ppd, or coles/bunnings, etc at about 175 ppd.

Citi also sells SQ KF points / miles or VA points for 2:1. If you value KF/velocity at about a cent each, then you are getting them at 200 ppd.

Still better than direct cash back via statement credits which cost 400 ppd.

Yep, nothing to see here.