Citi ThankYou Preferred vs. Chase Sapphire

There are two ways for a credit card issuer to construct a rewards program. One is to offer customers points or miles with a partner such as an airline or hotel chain. The other is to develop a proprietary program. Banks run these programs, issue points, and choose the options cardholders have to redeem their points.

To this end, Citi has its ThankYou Points program while Chase offers several cards that allow customers to earn points in their Ultimate Rewards program. When looking for one of t...