has anyone actually confirmed that citi will stop allowing you to open new accounts at some point? i saw a reference to opening 1 new account every 2 months. do we know that if done more frequently it actually does result in them ending this deal for someone? i don't see any first hand cases in this thread with any details of where the "trigger point" is.
also, what about just opening 30 day CD's? that seems reasonable that you would have to keep opening new ones every 30 days cuz they mature...
If I have read this thread correctly, the real benefit in the Citi Checking offer is the ability to fund your account with credit card "purchases". What would prevent someone from earning 100k+ miles by funding your initial deposit across a variety of point earning Visas and Mastercards, assuming the following were true?
1 - you have the credit lines to support 100k in purchases,
2 - the charges are placed as purchases and not cash advances, and
3 - you have the cash flow to pay off the credit cards (either from the the initial deposit into your Citi checking or other sources)
If all the above is correct, the 20k miles from AA is just the icing on the cake.
One other question. Has anyone attempted to fund the account opening with a gift Visa or Mastercard that was purchased with an American Express card (i.e., get SPG points out of this deal)?
If I have read this thread correctly, the real benefit in the Citi Checking offer is the ability to fund your account with credit card "purchases".
You would be correct. It's surprising that there has never been created a thread dedicated to that deal. This tid bit of information just came up during the 'conversation' about this deal. Go figure.
Quote:
Originally Posted by toddpate
What would prevent someone from earning 100k+ miles by funding your initial deposit across a variety of point earning Visas and Mastercards, assuming the following were true?
1 - you have the credit lines to support 100k in purchases,
2 - the charges are placed as purchases and not cash advances, and
3 - you have the cash flow to pay off the credit cards (either from the the initial deposit into your Citi checking or other sources)
You can only make ONE initial funding of the account with a CC (Visa/MC). You can't split it into multiple CC purchases. Thus, before you do this, consolidate all your lines onto the one CC you wish to do this with.
Quote:
Originally Posted by toddpate
If all the above is correct, the 20k miles from AA is just the icing on the cake.
Again, correct. Actually, it's even debatable if you'll get those miles. I already called about the first installment of 10K, and they're making up excuses for me not to not get them. They've yet to provide a reason, just simply that 'someone' determined I was ineligible.
Quote:
Originally Posted by toddpate
One other question. Has anyone attempted to fund the account opening with a gift Visa or Mastercard that was purchased with an American Express card (i.e., get SPG points out of this deal)?
That is a really interesting idea. I would be curious about the result. Of course, if I recall correctly, are the size of gift cards limited? Recall it can only be one card that funds the account in one single charge. If the gift cards are capped at say $1000 per card (or less) then this would be way too much work. Actually, if the gift cards are capped at anything less than $10K it's probably too much work.
At any rate, if you do try this out, please post an update.
You would be correct. It's surprising that there has never been created a thread dedicated to that deal. This tid bit of information just came up during the 'conversation' about this deal. Go figure. . .
Programs: AA 1MM, US *G, DL PM, UA P, SPG G, Hilton S
Posts: 514
Quote:
Originally Posted by st.exupery
I've funded various Citibank accounts with different credit cards, but my Citi AA M/C is the only card that does not work. According to Citi M/C, this is because they read the transaction as "financial institution," and when under the cash advance limit, it is rejected. The only way to overide the system is for Citi M/C to issue an approval code directly to Citibank. However Citibank cannot process that approval code. So I'm curious as to how some folks have been able to use this card, if in fact the transaction is above their cash advance limit and billed as a purchase. Is there a certain division of Citibank that you've used, website, or special phone number? Any info appreciated.
I had the same problem with Citi card.
I had a small line. I paid extra cash to increase the intiial funding.
Even when I had Citi card and bank on the phone they could not do it.
Had to lower my desires.
Then tried Chase. Went thro as cash not purchase.
Had to call Chase and get them to remove fees.
Can be done, but a lot of hassle.
The "every 90days open vi/mc/ax at Citi AA" is the easiest and most reliable.
no more citi credit card funding-so the agent told me
I just got off the phone with a Citi agent. I was trying to open an Ultimate Savings account with my Citi master card, which I just used to open a checking account a couple of weeks ago. The agent told me they no longer taking Citi credit cards starting 2 weeks ago since it was costing the company too much money. Oh well. I guess it was bound to stop since it was such an easy way to get miles. Unfortunately I only had one chance to use it
I just got off the phone with a Citi agent. I was trying to open an Ultimate Savings account with my Citi master card, which I just used to open a checking account a couple of weeks ago. The agent told me they no longer taking Citi credit cards starting 2 weeks ago since it was costing the company too much money. Oh well. I guess it was bound to stop since it was such an easy way to get miles. Unfortunately I only had one chance to use it
R U sure about this? Did you call again and try to talk to a diferent rep? Up until about a week ago I was still trying to fund my account with a Citi AA card, which kept on getting declined, but for a different reason. But ,if this is in fact true did they say they no longer take just Citi cards or any credit cards period?
Programs: AA PLT 1.31 MM, DL GLD, UA Prem, BW Diamond
Posts: 632
Quote:
Originally Posted by EasternTraveler
CYBD through June.
Now does anyone know if you already have a citi checking, if there is a way to get this deal? I have never done this deal before.
Has anyone used CYBD recently. If you try to use it on the 2nd or 3rd page it says the code is invalid. Although the splash page says it expires 6/30/2009.
I was checking my wife's Citi AA MasterCard account today on citicards.com. There was a link there that took me to a 20,000 mile offer for a checking account (code CE53, good thru June 30).
She already has a checking account at Citi that we opened last year, and we should get the final 10,000 miles for this account within the next few months.
Since she doesn't need another checking account, I logged out and switched over to my account (I have a Citi AA MasterCard as well). I don't have a checking account at Citi, so I might accept the offer, but I could not find any link to a comparable offer within my account.
Yesterday I opened a Citibank checking account online. I noticed that at the end of the process I got a screen saying "acount being processed". In the past I always got an account number. Today, received a call from Citibank saying that I can no longer fund accounts with a credit card as I had "exceeded my limit" I had not yet called to fund the account, so this clearly has nothing to do with the credit card. The caller was quite curt, and I did not get the usual "thanks for banking with Citi" line. I was also told I must visit a branch if I want to open any more accounts. I had opened five accounts this year, three checking, one CD and one ultimate savings. I guess I pushed the limit too far, but I did get a pile of AAdvantage miles.
