Saturday - Dec 14, 2019

News You Can Use: End Of Credit Card Funding’s, Citi Bank Shutting Down Accounts


End of Citibank checking and saving account finding with credit card.

Right now, you could earn 50,000 AA Miles for opening a new Citigold checking account. It is known that Citi bank allows funding of checking or savings accounts with credit cards during account opening.  You could potentially earn thousands of miles at no cost and also meet minimum spending’s easily.

It looks like Citi has change its policy related to credit card funding, as of yesterday. This flyertalk thread provides a lot of data points indicating that funding of a Citibank account with credit card  is no longer working

If you are planning to get a new credit card with the intent to complete minimum spending, you should approach a new method.

 

Citi Accounts shutdown

Per this flyertalk thread, there are a few data points indicating that Citi has shutdown all credit card accounts of some customers.

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While it is not clear as to why the accounts were shutdown, it looks like those who did manufactured spend in big numbers, recycled the credit limits, Bill payed from several accounts were among the list of folks affected.

This also meant that, Citi has blacklisted these folks in their system, which means the future applications are an instant denial.

Things to consider:

  • No/Minimal Manufactured spending
  • Never recycle the credit limits
  • Do not use multiple accounts for payment (especially third party bill pay service like Wal-Mart)
  • Use your cards for regular spending.

 

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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 institution

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