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Citibank Is Slashing Points Transfers To Two Partners April 19 — One Drops 25%, The Other 50%

Citibank announced that, effective April 19 2026, its Premium ThankYou Rewards cards will transfer points to Choice Privileges at a 25 percent reduced rate and to Preferred Hotels I Prefer at a 50 percent reduced rate. The former moves from 1,000 ThankYou points for 2,000 Choice points to 1,500, while the latter drops from a 1:4 to a 1:2 ratio. These cuts slash the cash‑equivalent value of Citibank points for hotel redemptions, especially where Preferred Hotels previously yielded 2‑3 cents per point. The changes come amid a wave of loyalty‑program devaluations across major banks.