Citi ThankYou Hotel Transfer Devaluation: What to Do Before April 19

By Sarah Mason·Updated April 20266 min read
Credit cards on a desk with a laptop

On April 19, 2026, Citi is reducing transfer rates from ThankYou Points to two hotel loyalty programs. Choice Privileges transfer rates will drop by 25%, and I Prefer Hotel Rewards (Preferred Hotels & Resorts) will be cut by a full 50%. If you hold a Citi ThankYou card with transfer privileges, you have just days to lock in the current, more favorable rates.

What’s Changing

Here’s a side-by-side comparison of the current and new transfer ratios for premium Citi ThankYou cards (those with annual fees):

Choice Privileges

I Prefer Hotel Rewards

Deadline: April 18, 2026 is the last day to transfer at current rates. Transfers are typically instant, but allow extra time in case of delays.

Should You Transfer Before April 19?

The answer depends on whether you have a specific hotel stay in mind. The golden rule of points transfers still applies: never transfer speculatively. Points sitting in a hotel program lose the flexibility of ThankYou Points, which can be transferred to over a dozen airline and hotel partners.

That said, here are scenarios where a pre-deadline transfer makes sense:

Transfer Now If…

Don’t Rush If…

How This Compares to Other Programs

Citi isn’t the only program offering Choice Privileges transfers. Here’s how the post-devaluation Citi rate compares:

Even after the devaluation, Citi’s 1:1.5 rate to Choice Privileges is still better than Amex and Capital One’s 1:1, and Wells Fargo’s 1:2 remains the best. If you hold multiple transferable currency cards, route Choice transfers through Wells Fargo Autograph when possible.

The I Prefer Loss Stings More

The I Prefer (Preferred Hotels) devaluation from 1:4 to 1:2 is the bigger hit. A 50% reduction is substantial, and Preferred Hotels properties include upscale brands that can deliver strong per-point value. The 1:4 ratio was genuinely generous — one of the best hotel transfer rates in the market. Its halving makes I Prefer transfers from Citi far less attractive going forward.

Unfortunately, Citi is the only major transferable points program that partners with I Prefer, so there’s no alternative route to explore.

What This Means for Citi ThankYou Overall

This devaluation follows a broader pattern in the loyalty space: hotel transfer ratios are getting worse across the board. Amex recently reduced its Cathay Pacific Asia Miles transfer from 1:1 to 5:4, and Capital One trimmed its Emirates rate. Credit card issuers are gradually pulling back the most generous transfer ratios as programs mature.

For Citi ThankYou cardholders, the airline side of the transfer portfolio remains strong. Partners like American AAdvantage (1:1), JetBlue TrueBlue (1:1), Turkish Miles&Smiles (1:1), and Virgin Atlantic Flying Club (1:1) still offer excellent value. The hotel side is weaker, but that’s true for most transferable points programs outside of Chase (which has Hyatt at 1:1).

Use our Transfer Partner Calculator to compare Citi ThankYou transfer values across all partners and find your best option.

Active Citi Transfer Bonuses to Consider

Before the April 19 devaluation hits, Citi is also running two promotional transfer bonuses that expire April 18:

Both of these deliver significantly better value than hotel transfers. If you’re looking to move ThankYou Points this week, these airline bonuses are worth evaluating alongside any pre-devaluation hotel transfers.

Key Takeaways

💳 Compare All Citi Transfer Partners →