Personal finance
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Citi Offers New Way to Spend Rewards
Citi continues to add more ways for cardmembers to spend their rewards points. Starting today, Citi customers can use their ThankYou points to purchase event tickets through

ThankYou Rewards members will be able to spend their points when they make the purchase. Additionally, if there aren’t enough points to fund the ticket purchase, customers can also charge the remaining balance of a purchase on a Citi debit or credit card that participates in the ThankYou Rewards program.

Depending on the Citi account, customers may earn ThankYou points on special offers and purchases.

Citi is in talks with a few other merchants, Ralph Andretta, head of co-brands and loyalty for credit cards at Citi, told Dow Jones Newswires. However, Andretta declined to name them. “We are constantly looking for ways to remove friction from the redemption process,” Andretta said.

The partnerships with and other merchants mark the expansion of Citi’s plan to offer more options for using their rewards points. Citi already allows cardmembers to pay for travel, through it online travel-booking tool, with points.

In January, Citi introduced a Facebook application that allowed ThankYou Rewards members to pool together their points for a collective goal, such as a wedding gift or charitable donation. It was an extension of an earlier function that enabled customer-to-customer transfers of points.

Also, in August, Citi released a new mobile app in collaboration with Best Buy. The app allows customers to scan merchandise barcodes to see how much items would cost in terms of points. Customers could then order the items for delivery or in-store pickup.

Citi is not the only card-issuer that is coming up with more ways for cardmembers to redeem rewards points. American Express has a similar relationship with Ticketmaster. Chase allows its Sapphire Preferred cardmembers to transfer points to other frequent flier programs. With Discover’s mobile app, customers can redeem electronic gift codes that can be presented in-store at checkout.

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