Citi devalues Emirates transfers

1:1 → 1:0.8

Effective July 27, 2025, Citi ThankYou Points transfers to Emirates Skywards dropped from 1:1 to 1:0.8, a 20% reduction. The change first appeared as a quietly altered ratio on Emirates' website, which Citi initially called an error before confirming it by email to cardholders in late April 2025. Citi confirmed the cut applied to the Strata Premier, Prestige, and AT&T Access More cards. Citi was the first US transferable currency to devalue Emirates, starting a chain in which American Express cut its ratio to 5:4 in September 2025, Chase removed Emirates as a partner in October 2025, and Capital One cut to 4:3 in January 2026.

What to do: Emirates transfers from every major US currency are now devalued or removed; only transfer to Skywards with a specific booking in mind.