Citi’s ThankYou Rewards has proven to be a unique addition to the loyalty sector, due mostly to its rewards mix. In addition to traditional redemption options (usual fare like gift cards, electronics, and luggage sets), the program allows members to transfer the points to various other programs offered by partnered brands.
In its latest partnership, the program adds JetBlue’s TrueBlue program as a transfer option. Users can transfer an unlimited number of points, but the rate of transfer is dependent on their status within ThankYou Rewards. To encourage customer engagement with the program (rather than just as a means to gain more points for other brands), Premier and Prestige Citi card members will receive 1 TrueBlue points for every 1.25 ThankYou Points, while Preferred members will enjoy 1 TrueBlue for every 2 ThankYou Points, granting the most engaged Citi ThankYou Rewards members an increased rate of conversion.
“We have made significant enhancements in recent years to the ThankYou Program to provide card members with more choice and flexibility to use their ThankYou points in ways that fit their lifestyle,” said Mary Hines Droesch, Global Head of Citi Rewards. “We are now thrilled to offer our card members even greater travel options with the ability to transfer their ThankYou Points to TrueBlue Points. We think our card members will be just as excited.”
JetBlue is far from the first brand to partner with Citi for ThankYou Rewards point transfers. The financial giant has also forged deals with 14 companies across travel, hospitality, and retail. These partnered brands include Etihad, Hilton HHonors, Sears Shop Your Way, and Virgin America Elevate, just to name a few.
“Our new relationship with Citi provides an easy way for Premier, Prestige and Preferred cardmembers to redeem for TrueBlue points,” said Scott Resnick, director, loyalty marketing, JetBlue. “We’re always looking for new ways to bring the award-winning JetBlue experience to customers. With TrueBlue, there are no blackout dates and points never expire. Every purchase brings that dream trip even closer to reality.”
These loyalty partnerships, when properly designed and executed, benefit both sides of the table: Brands see increased engagement among consumers that may already frequent both companies, and users see ubiquitous value in the points they earn.