Update 11/15/20: Transfers from Citi to Shop Your Way no longer have 20% bonus. Point transfers from Citi are no longer recommended.
Be still my heart: there may actually be a reason to convert Citi ThankYou points to Sears Shop Your Way points. Strange, but true. As Stephen points out at GC Galore, you can now redeem Sears points for third party gift cards in fixed denominations, which might make it worth considering a transfer from Citi if you’re looking to cash out points.
- Redeem Sears Shop Your Way points for fixed-value gift cards here
- As a reminder, Citi ThankYou points transfer to Sears Shop Your Way at a rate of 1 Thank You point to 12 Sears Shop Your Way points
The key here is that Sears Shop Your Way points have historically been pretty worthless. Just last week a friend asked me what our value for Shop Your Way points is and I said that 1 SWY point = 100 Italian Lira (for those unfamiliar, Lira no longer exist).
But I stand corrected. This ability to redeem Shop Your Way points for third party gift cards at a value of $0.001 per point means that you can get a decent value out of your ThankYou points for third party gift cards. As a reminder, ThankYou points transfer to Shop Your Way at a value of 1:12.
- 20,834 Thank You points = 250,008 Shop Your Way points
- 250,000 Shop Your Way points = $250 Southwest Airlines gift card
- ~1.2c per ThankYou point
Those who want to go a step further can convert the Southwest Gift Card to Rapid Rewards points by using it to create travel funds that are eligible for conversion.
- $250 Southwest Airlines travel funds can be converted to 19,531 Rapid Rewards points
Those following at home know that if your Citi Premier card was open before April 10, 2020, it may be possible to book Southwest flights at a value of 1.25c each (Southwest flights definitely won’t show up at ThankYou.com; I’m not sure whether or not you can book them over the phone with Citi as Greg showed cheap flights can be booked with the right Chase agent). If you can book Southwest flights over the phone with Citi, it wouldn’t make much sense to convert ThankYou points to Shop Your Way as it adds exra steps.
On the other hand, this certainly could be a decent enough deal if you’re looking to cash out Thank You points for other third party gift cards. To be clear, I wouldn’t be particularly excited about getting 1.2c in gift cards for ThankYou points, but on the other hand if you’re looking to cancel a card rather than downgrade and you thus need to use the points or lose them, this could be a better cash out method.
As you can see in the screen shot at the top, the gift card redemption appears to be through Raise.com, but given that these are fixed denominations, it appears to be redemptions for first-hand gift cards rather than resale gift cards. It is possible that this feature has been around for a while, but I haven’t earned or redeemed Shop Your Way points in quite some time. Either way, this is an interesting if not amazing deal. If you happen to have a lot of Shop Your Way points, gift cards could certainly be a more appealing redemption if you don’t have a use for more merchandise from Sears.