BestBuy.com to Accept Citi Rewards for Payment

Citi has expanded its ThankYou Rewards program to allow its reward points to be used directly for purchases at BestBuy.com.

When consumers in the program checkout on BestBuy.com, they will see the ThankYou Points they have available and can select to use. The purchase amount will be initially charged to their card, and Citi provides a statement credit within 24 to 48 hours.

Because the sale is still made initially with the card, consumers will also receive the rewards points for their purchase.

The program somewhat resembles something that Best Buy rival Amazon.com has offered through multiple card issuers, such as JPMorgan Chase and American Express. In Amazon's implementation, reward points are applied as a discount to the purchase, so the full purchase price does not appear on the consumer's card statement.