Citibank is significantly reducing the value of points transfers to two hotel loyalty programs – Choice Privileges and Preferred Hotels I Prefer – starting April 19, 2026. The changes will impact holders of Premium ThankYou Rewards cards, making these transfers less attractive for maximizing point redemption.
Choice Privileges Transfer Rate Cut
Currently, 1,000 ThankYou Rewards points convert to 2,000 Choice Privileges points. The new rate will reduce this to 1,500 Choice Privileges points, a 25% devaluation. While Choice points aren’t typically high-value, this change further diminishes their appeal for Citibank cardholders.
Preferred Hotels I Prefer Transfer Rate Cut
The more substantial change involves Preferred Hotels I Prefer. The current 1:4 transfer ratio (1,000 ThankYou points to 4,000 I Prefer points) will be halved to 1:2 (1,000 ThankYou points to 2,000 I Prefer points). Previously, this partnership offered a redemption rate of 2–3 cents per Citibank point. The new ratio makes it far less competitive.
Why This Matters
These devaluations are a common practice among credit card issuers. Points and miles programs are essentially currencies, and issuers adjust transfer rates to control their liability and incentivize spending on their cards rather than redeeming points for travel. While niche, Preferred Hotels offered a strong value proposition, and this change effectively eliminates it. Choice Privileges already had limited value, and this cut makes them even less attractive.
Citibank’s Transfer Partners: A Snapshot
Citibank offers a broad network of transfer partners across airlines and hotels. Here’s a breakdown:
- Airline Alliances:
- oneworld: American Airlines, Cathay Pacific, Qantas, Qatar Airways
- Star Alliance: Avianca LifeMiles, EVA Air, Singapore Airlines, Turkish Airlines
- SkyTeam: Aeromexico, Air France/KLM, Virgin Atlantic
- Other Airlines: Emirates, Etihad, JetBlue
- Hotels: Leading Hotels of the World, Accor ALL, Choice Privileges, Preferred Hotels, Wyndham Rewards
Which Partners Still Offer Value?
Some partners remain valuable for maximizing point redemptions. American Airlines AAdvantage, Cathay Pacific, Qantas, and Qatar Airways offer strong transfer potential. Within Star Alliance, LifeMiles, EVA Air, and Singapore Airlines are also worthwhile. Air France/KLM Flying Blue and Virgin Atlantic can provide good deals.
However, some partners like Malaysia Airlines and Turkish Airlines are now largely symbolic due to limited redemption opportunities. EVA Air stands out as a “sleeper” option, often providing better award availability for its members than through partner programs.
Ultimately, Citibank’s devaluation underscores the importance of diversifying rewards programs and staying informed about changes to transfer rates. Points and miles are not static; their value fluctuates based on issuer decisions.
