Yesterday, we have covered two new amazing offers – 50,000 AAdvantage miles for a new Citigold Checking account and 50,000 ThankYou Points for a new Citigold Checking account.
Here is some additional information about the process and eligibility.
How to open the Citigold Checking account online?
Click this link and enter the promo code “42ERCWNQU6” for 50,000 AAdvantage miles offer or “42ERCZ42PY” for 50,000 ThankYou Points offer and select Citigold account package.
How to Verify the promotion ?
Once you enter the promo code and selected the Citigold Account Package, you will land on the application page. you should be able to see “Promotion Disclosures” on the top left of the page.
Can you get this offer, if you have an existing Citi checking account?
This offer is only available to new consumer checking account customers. I have confirmed this with couple of personal bankers and verified with the Citi marketing team.
Can you close your existing account and get this offer?
Per the Citi reps I talked to, you need to wait 2 years from the day your account is closed to get the offer. If you close your account today, you are eligible to get the offer again on Oct 02, 2017.
Should you open the account online or at a branch?
To get this offer, you could open the account online or at a branch. However, when you open the account online, you will have an option to fund the account with a credit card.
You could potentially earn several thousands of miles when you open the Citi account online. On the funding page, select “other source” and select “Credit card”. You will have to fill a form and fax it with the card information.
It is always good idea to lower the cash advance limit on your credit card and fund more than the cash advance limit on your card. Barclays and some Citi credit cards seems to code as regular purchase, check this Flyertalk thread for more information.
Will you get 1099-Misc for this offer?
In the past, 30,000 AA miles offer did not trigger the 1099-Misc. I think, since the AA Miles offer requires a debit card purchase, the miles offered are considered as a rebate. While I am not certain about the 50,000 AAdvantage miles offer, I would predict that even the 50,000 AA Miles offer will not trigger 1099-MISC
For the 50,000 ThankYou Points offer, terms & conditions mentions the following
The value of the rewards from redeemed ThankYou Points may be reported to the IRS as miscellaneous income on Form 1099-MISC in the year received, if the value of the award plus other taxable miscellaneous income awards received from Citibank, N.A., is in the aggregate $600 or greater for a calendar year, as required by applicable law. Customer is responsible for any applicable taxes
This means, you will receive 1099-MISC, when you redeem ThankYou points (earned from banking relationship) for rewards greater than $600 in value in a calendar year. If you just keep accruing the points and do not redeem them, you wouldn’t get a 1099-MISC.
Offer not eligible for current account holders or if you have held an account in the past 2 years. 1099-MISC will be issued if you redeem ThankYou points for rewards greater than $600 or more in a calendar year.
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