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‘Gift cards are a standard part of almost every major credit card rewards ecosystem,’ one expert said
J.R. DurenIn JacksonvilleThursday 11 December 2025 21:20 GMTComments
open image in galleryCustomers of big banks such as Citi and Chase can redeem credit card reward points for gift cards (Getty Images)SPONSORED BY CREDIT KARMAThe Independent Money channel is brought to you by Credit Karma.
Though small in size and virtually weightless, gift cards carry a heavy following in the consumer universe - they are the preferred gift of recipients at the holidays, according to data from Wells Fargo, and, as it turns out, they’re a convenient way to cash in credit card rewards, too.
“Gift cards are a standard part of almost every major credit card rewards ecosystem,” said Kate Faxon, vice president of member rewards at Bilt, a loyalty program for renters. “They’re easy for issuers to source, simple for members to understand, and offer a straightforward way to use points. For many programs, they also serve as a ‘baseline’ redemption option: predictable and familiar, especially around holidays.”
While the variety of gift cards available can vary by credit card issuer, rewards programs from well-known banks such as Capital One, Chase, and Citi offer gift card redemptions that could be your path to purchasing last-minute gifts this holiday season.
Capital One
Capital One’s rewards program is available to customers with cards that earn cash back or miles. The rewards portal accepts both cash back and travel miles that your cards earn. You can also buy gift cards with your card, then retroactively redeem rewards to cover the purchase. Finally, cardholders can connect their rewards to Amazon.com to pay for purchases with rewards points
Capital One cards that accumulate rewards include the Quicksilver, QuicksilverOne, Venture X, Venture, and VentureOne.
open image in gallery‘The bigger picture is that gift card redemptions are usually designed to be value-consistent: predictable and straightforward to redeem for, but rarely the highest-value use of rewards compared to channels like travel transfer partners that tend to require more customer knowledge,’ an expert said (Getty Images)Chase
Chase Ultimate Rewards is the name of Chase’s rewards portal. Users can log into the portal directly or access it through their banking account. From there, you can search for gift cards and make a purchase using your rewards. It offers hundreds of gift options, including popular brands such as Apple, Chipotle, Lowe's, Nordstrom, Sephora, and Target.
Cards that earn Ultimate Rewards points include the Freedom Flex, Freedom Unlimited, Sapphire Preferred, and Sapphire Reserve.
Citi
Citi’s rewards program is called “ThankYou Rewards.” Through it, you can convert your reward points into gift card purchases at a rate of one cent per point. So, a $50 gift card would cost 5,000 points. However, the portal may offer gift cards at a discount, which would increase the value of your points in relation to the card’s face value.
The program offers gift cards for more than 100 retailers, including AMC Theaters, Apple, Fanatics, Pottery Barn, REI, and dozens of restaurants. These options are typical of the gift card options you get from reward programs, Faxon told The Independent by email.
“Most programs today offer instant digital gift cards, especially for major retailers, restaurants, and entertainment brands,” she said.
Citi credit cards that earn rewards you can redeem for gift cards include the Citi Strata, Strata Premier, and Double Cash.
open image in galleryCredit card rewards portals typically have gift cards for major retailers such as Apple (Getty Images)How to redeem rewards
If you have a rewards card, you’re probably used to watching your rewards balance increase the more you spend and hit bonuses. If you haven’t tried redeeming your points, you’re not alone – a December 2024 study from personal finance site Bankrate found that around one out of four rewards customers didn’t redeem any rewards in the 12 months leading up to the survey.
In general, reward redemption works in similar ways, no matter the bank:
- Log in to your account.
- Access your issuer’s rewards portal.
- Search for a gift card by its retailer’s name.
- Click on the card you want.
- Make the purchase using your rewards.
Redemption rates
In general, your rewards points (or miles) are worth anywhere from half a cent per point to one cent per point, Faxon said, which is far less than what some of the top redemption rates are for travel rewards. However, redeeming your points for gift cards has its place.
“The bigger picture is that gift card redemptions are usually designed to be value-consistent: predictable and straightforward to redeem for, but rarely the highest-value use of rewards compared to channels like travel transfer partners that tend to require more customer knowledge,” she said.
Delivery methods
Faxon said that, in general, you can redeem your points or miles for a digital gift card, but physical cards are sometimes available as an option.
“Physical cards still exist but are increasingly niche; they take longer to ship and don’t fit how people redeem during high-urgency periods like the holidays,” Faxon said.
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