What to Do with 300,000 Citibank Points? Tips Please

BuddhaBoy on 09/05/2020 - 09:09

Hi guys,

I have moved banks to Bank of Melbourne due to refinancing and getting an Amplify Signature (Qantas) card.

With the Advantage package with bank of melbourne, I won't have to pay the credit card fee which is good. So have decided to cancel my Citibank credit card (fee is around $400/year).

The card that I have is a Citibank Signature card and it has around 300,000 points on it.

What's the best of using these points?

At this stage in can only think of transferring to Singapore Airlines Krisflyer and that's 2.5 Citi point to 1 Krisflyer.

Any tips?

Thanks

Travel

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Comments

  • chrisie on 09/05/2020 - 09:21

    Yes I have the same problem and would like to find a good solution.

  • XeKToReX on 09/05/2020 - 10:19
    +7

    I'm lazy.. I'd probably just take them out in $1500~ worth of Wish gift cards and sell them or use them for groceries or something..

    • Blue Cat on 09/05/2020 - 15:40

      Probably the safest bet. You are going to buy groceries anyway, so might as well use your points.

    • LemonShapedRock on 10/05/2020 - 11:57

      Agreed, this time it probably makes most sense to take the gift cards.

      Too many unknowns about international travel to take the points option.

      Plus, I imagine most airlines will probably review their frequent flyer points redemption rates to make back some lost profits from the COVID shutdown

  • conan2000 on 09/05/2020 - 10:41
    +2

    Yeah, Singapore airlines is a decent option as they received huge Government stimulus, so should come out of the crisis pretty well. I'd personally just use them for Bunnings/Coles/Woolies though.

    I know the value per point is less, but my view is that I'd never pay for an upgrade on a flight anyway, so would rather have the vouchers and save a thousand dollars on things I would have to buy anyway.

  • tio on 09/05/2020 - 10:49
    +1

    1 vote for krisflyer. Best chance of extracting top value for your citi pts.

    • RockyRaccoon on 09/05/2020 - 11:00
      +2

      Correct but the OP might have to wait a long time before being able to use them. And who wants to be pressured into international flying to avoid losing them, if the lockdowns/virus continue. Bird in hand vs Bird in bush

      • BuddhaBoy on 09/05/2020 - 12:05

        Something that I have thought about.

        Yes Singapore Airlines would be good and we do prefer them when flying but with the current scenario, I don’t see us travelling anytime soon.

        Holiday. What holiday?! :(

  • Serathis on 09/05/2020 - 16:04

    Gift cards then

  • afoveht on 09/05/2020 - 20:27

    Wait for an offer. About a year ago I transferred my Citi points to velocity with a (I think) 25% bonus. (I cashed in velocity to gift cards a couple of weeks before the moratorium). If you can wait then consider it.

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