Citi ThankYou points can be redeemed in 5 ways - transferring points to travel partners at 1:1 or higher value, booking travel directly through Citi's travel portal, redeeming for cash at 1 cent per point, redeeming for gift cards at 1 cent per point, or shopping at partner stores for less than 1 cent per point. The best value is usually transferring points to travel partners when a specific flight is in mind.