Despite my rant against Citibank the other day,  I’m pretty glad I bank with them today.   I just booked a flight on JetBlue from Boston down to Washington Dulles on Easter Weekend using Thank You points earned primarily though my Citibank account.   I had been pretty grumpy about traveling down that particular weekend because a flight that would normally cost me under $150 was running in excess of $250.   Prices have since come down since I did my original search, and now I can get down to Washington DC for a little less than $200.   However, the flight the following week is even cheaper, at less than $150.

I had never booked a flight through the Thank You Network before.    I was very impressed.   One of the network partners is Expedia, and as a result it looks like any flight that’s available on Expedia is also available through the Thank You Network.  The cost of a flight is not fixed.  Thank You points are effectively treated as dollars (on a 1000 points to a dollar ratio).  As a result the flight I booked cost me a little over 24,000 points for a flight that was about $240 booked independently.    I prefer the flexibility of point system when used actually used reflect real flight costs.   With frequent flier miles, I feel restricted in how I spend those miles.   I only book flights that make the most economic sense since a flight to Florida would use the exact same miles as a flight to Sioux Fall, South Dakota.  I would never book a fight to Florida with miles because those flights are typically very inexpensive.

I got good use out the Thank You points.  Additionally and especially because of the less than ideal financial situation that Citibank is in, using points now instead of later makes much sense.  Citibank could change the payout ratios.   Worst case, Citibank if it were nationalized, might choose to reneg on all Thank You point obligations.   By using the points today, I bypass this uncertainty that exists with all loyalty programs.  It’s almost always best to use points as soon as you can - it’s not like I earn interest points in my account.