Citi Lowers Transfer Ratios
The sky is falling. The sky is falling! Every few days in 2026, it seems we're announcing yet another devaluation. Today's example is that Citi lowers transfer ratios to two different hotel partners. While the bad news can seem overwhelming, and possibly demoralizing, remember that most programs are unaffected, there remains incredible value in award travel, and welcome offers continue to go up and up to match these devaluations. But that's enough of the big picture, as we dive into the nitty gritty details.
Update 4/18/26: Today (Saturday, April 18) is the last day to transfer before the ratios change.
Current Citi ThankYou Partners
As you can always confirm with our handy ToP Partner Transfer Tool, Citi ThankYou points transfer to the following partners:
- Accor
- American Airlines
- Avianca lifemiles
- Cathay Pacific
- Choice Hotels
- Emirates
- Etihad
- Eva Air
- Flying Blue
- jetblue
- Leading Hotels of the World
- Preferred Hotels
- Singapore Airlines
- Thai Airways
- Turkish Airlines
- Qantas Airlines
- Qatar Airways
- Virgin Atlantic
- Wyndham Hotels
There are nineteen partners in total and it's an eclectic group too.
Citi Lowers Transfer Ratios to Two Hotel Partners
In an email received on March 20, 2026, Citi announced that, effective April 19, 2026, the transfer ratios to two different hotel partners were decreasing. These devaluations are as follows:
| Partner | Current Transfer Ratio | April 19, 2026 Transfer Ratio |
| Choice Hotels | 1 to 2 | 1 to 1.5 (25% less) |
| Preferred Hotels | 1 to 4 | 1 to 2 (50% less) |
Two devaluations, ranging between 25 and 50% to two different hotel partners. Luckily, we received 30 days notice of these changes and, in the grand scheme of things, these two partners are widely used.
Citi Lowers Transfer Ratios: ToP Thoughts
The most interesting piece of this news is that both devaluations effect Preferred Hotels, since one of the best uses of ThankYou points has historically been booking Preferred Hotels via the Choice program. If you're not aware of that option, learn about it. Even with this pending 25% devaluation, it is still a lucrative option. Otherwise, this news will likely fly under the radar for most, as neither hotel program is largely used by award travelers in the USA.
What are your thoughts on this devaluation? Does it affect you? Come over to our Facebook group and let us know.
