ThankYou® points cannot be transferred to airline or hotel partners. They are redeemable for travel on Citi’s ThankYou® Rewards website, with each point having a fixed value, redeemable for 1.33 cents of travel or 1 cent of gift cards.
That means that the current 50,000 sign-up bonus for the Citi ThankYou® Visa credit card equates to $667 in travel–not bad at all! These points are especially good for those times when you just have no miles options and you just have to book with cash. Cash being ThankYou® points, of course.