Members of the Citi Rewards program can now transfer their points to FlyBuys. As an introductory offer, Citi and FlyBuys are offering a 15% bonus on the number of FlyBuys points you will received when transferring.
For Citi Rewards cardholders, this opens up a range of options that are otherwise not available to Citi Rewards members. One interesting feature of FlyBuys is that you can transfer the points to Velocity. This in itself could open some options in some cases.
Transfer Rates
The transfer rate for Citi rewards Points to Flybuys depends on the type of card that you hold. The following shows the rates for the different cards:
- Signature and Prestige cardholders: 1 Citi reward Point equals 1 flybuys point. If you transfer 20,000 Citi reward Points you will receive 20,000 flybuys points.
- Platinum cardholders: 1.33 Citi reward Points equals 1 flybuys point. If you transfer 26,600 Citi reward Points you will receive 20,000 flybuys points.
- Classic and Gold cardholders: 2 Citi reward Points equals 1 flybuys point. If you transfer 40,000 Citi reward Points you will receive 20,000 flybuys points.
15% Bonus
For transfers made by March 31, you will get a bonus 15% FlyBuys points added to your account. If you had made one of the transfers above for 20,000 Flybuys points, you will receive an additional 3,000 points.
Velocity Transfers
Being able to transfer to FlyBuys means that most Citi rewards members have two paths to transfer points to Velocity. For holders of the classic card, it opens up a path to Velocity that they otherwise haven’t had.
The question then becomes, is is worthwhile going via Flybuys, or direct to Velocity. Transferring from Citi to Velocity uses the following conversions:
- Citi Prestige, Citi Signature and CitiBusiness Gold: 2 Citi Rewards Points = 1 Velocity Point
- Citi Gold and Citi Platinum: 2.5 Citi Rewards Points = 1 Velocity Points
The following table shows the effect of going direct to Velocity, versus going via Flybuys.
| Via Flybuys (standard) | Via Flybuys (15% bonus) | ||||
|---|---|---|---|---|---|
| Card | Direct to Velocity | To Flybuys | To Velocity | To Flybuys | To Velocity |
| Prestige | 25,000 | 50,000 | 21,745 | 57,500 | 25,012 |
| Signature | 25,000 | 50,000 | 21,750 | 57,500 | 25,012 |
| Platinum | 20,000 | 37,590 | 16,208 * | 43,233 | 18,806 |
| Gold | 20,000 | 25,000 | 10,875 * | 28,750 | 12,530 |
| Classic | N/A | 25,000 | 10,875 * | 28,750 | 12,530 |
For Classic Cardmembers, it provides the only path at the moment to convert Citi Rewards Points to Velocity Points. However, the effective exchange rate is around 5 Citi Reward Points to 1 Velocity Point.
For Prestige and Signature holders, it is marginally better to go via FlyBuys while the 15% bonus promotion is on.
For the standard offers, you will be better off going direct to velocity, if that option is available.