Convert ThankYou Preferred to Rewards Plus?
Nov 6, 2022, 8:37 pm
#16
Join Date: Oct 2014
Posts: 137
I get regular offers from Citi to switch from TY Preferred to Rewards+. I've held off because Citi used to offer periodic 5x points bonuses on the Preferred card. I don't know if these bonuses are offered on Rewards+. Regardless, I haven't gotten a 5x offer on my Preferred card in a long time, so there's little reason to keep the Preferred.
I've read that Rewards+ has the extended warranty benefit. If I switch to Rewards+, do the items I've purchased with the Preferred card keep their extended warranty benefit?
I've read that Rewards+ has the extended warranty benefit. If I switch to Rewards+, do the items I've purchased with the Preferred card keep their extended warranty benefit?
May 25, 2023, 1:22 pm
#17
Join Date: Nov 2022
Posts: 3
I posted last year about possibly converting my ThankYou Preferred into Rewards+, but haven't done anything yet.
Background:
My FICO is over 800 and my credit limit on the ThankYou Preferred is almost 20k. I have six credit cards (including TY Preferred and Double Cash) and have low overall credit utilization (~$1000/month charged and paid off each month). I have the cards for benefits purposes, not a need for more credit.
Which option would you take?
Background:
My FICO is over 800 and my credit limit on the ThankYou Preferred is almost 20k. I have six credit cards (including TY Preferred and Double Cash) and have low overall credit utilization (~$1000/month charged and paid off each month). I have the cards for benefits purposes, not a need for more credit.
Which option would you take?
- Convert the ThankYou Preferred into Rewards+. Pros: No hard pull, transfer of credit to new card. Cons: No bonus.
- Apply for a Rewards+ card. Pros: 25,000 bonus points. Cons: Hard pull, unknown credit limit.