Tuesday - Aug 14, 2018

50,000 ThankYou Points for opening a new Citigold checking account


We just mentioned about the opportunity to earn  50,000 AAdvantage Miles when you open a new Citigold Checking Account.

 

Citibank has another offer if you prefer ThankYou points, You can get 50,000 ThankYou Points for opening a new Citigold checking account

 

 

TY

 

 

Here are the details

Promo Code: 42ERCZ42PY

No Direct deposit required

Citigold checking account comes with a monthly fee of $30. (Waived for the first 2 months)

Should apply before Dec 31, 2015.

No hard inquiry on your credit report

 

Requirements:

Within 60 days of opening the account, perform 1 or more bill payments for 2 consecutive calendar months to a non-Citi account (paying your Citi credit card will not count towards the promotion)

 

Eligibility:

You must have an existing ThankYou points account linked to a ThankYou credit card. In other words, you must have one of the following cards.

Citi ThankYou Preferred

Citi ThankYou Premier

Citi Prestige

 

Things you should know:

  • 50,000 ThankYou points will post within 90 days from the end of the statement period in which you complete all offer requirements, which means it can be 5 months from the day your account is opened.

 

  • Unlike the 50,000 AA Miles offer, Citi specifically mentions that you could get 1099-MISC if your annual earnings from banking products is over $600. This also includes the monthly ThankYou points you can earn for having a Citigold account.

 

  • You may end up paying account maintenance fee of $30/month for 3 months ($90 total) before you get the 50,000 ThankYou points. ($500 in gift cards)

 

  • ThankYou points earned from banking products are considered as taxable and cannot be transfer to Citi Transfer partners.

 

  • It would be better to open the account in a branch, as the banker will usually help you with any delay in getting points.

 

Tips:

 

  • I would recommend opening the account during the second half of the month.  You can complete the bill pay requirements in Oct 2015 and Nov 2015 and $1,000 debit card purchases by second week of  Nov 2015. This means you have completed the requirements within a month of opening the account.

 

  • As soon as you complete the requirements, contact the banker who helped you open the account and notify that you finished the requirements.

 

  • Citi also offers ThankYou points for Citigold accounts, you could earn up to 1600 points per month. Make sure to set up Auto Save and set up a direct deposit if possible.

 

  • As soon as you get the miles in your account, Call Citi and request a downgrade of your account to Basic Banking (fees can be avoided with a direct deposit)

 

  • Another advantage of the going for the Citigold relationship – you can get a lower annual fee of $350 for Citi Prestige card.

 

Conclusion:

Through 12/31/2015, Citi is offering 50,000 ThankYou Points for opening a new Citigold checking account. Citigold checking account is the premium banking product offered by Citi and comes with several benefits. This promotion equates to 50,000 ThankYou Points for $90, which is an excellent value.

To qualify for this promotion, you need to open your account before Dec 31,2015 and must hold one of the  ThankYou Credit Card holder.

 

Disclaimer:  Links mentioned in this post do not earn us any commission.

Editorial Note: Opinions, analysis and any calculations shown are authors alone. Information in this post is not reviewed, approved and endorsed by any airlines, frequent flyer programs or financial institutions

8 comments
  1. Ryan

    October 1, 2015 at 9:39 pm

    Great… I opened an account with the 40k bonus yesterday. Ugh.

    Reply
    • takeoffwithmiles

      October 1, 2015 at 9:46 pm

      If you are still a Citigold client, It doesn’t hurt to give a call and ask for a match.

      Reply
  2. O

    October 2, 2015 at 8:28 am

    Past offers have excluded current or past Citi banking customers. I have a basic checking account with Citi as well as Premier and Prestige cards. Am I eligible for this offer? Thanks!

    Reply
    • takeoffwithmiles

      October 2, 2015 at 8:46 am

      Terms & conditions does not mention anything about the current and past account holders.

      I have contacted Citi and confirmed that an existing account holder can open another account.

      Agent I talked to, also confirmed the bonus as long as you open a new account and fulfill all the requirements. I am going to check again with a banking rep and write another post later today.

      Reply
    • Erik

      October 2, 2015 at 9:05 am

      “Offers for new consumer checking customers only, 18 years or older.” It’s said in the terms though.

      Reply
      • takeoffwithmiles

        October 2, 2015 at 9:14 am

        It would make sense that this offer is for new customers only.
        However, I am going check as it is not clear. I could close my existing account and open a new one.

        Reply
  3. Erik

    October 2, 2015 at 9:04 am

    “Offers for new consumer checking customers only, 18 years or older.” It’s said in the terms though.

    Reply
  4. dipan

    October 2, 2015 at 11:52 am

    For the 1099-Misc it would be only applicable when redeeming thank you points worth more than 600 at one item, is that correct?

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *