I never got these before, but not I seem to be getting them almost weekly. A mailing from Citibank for my AA MC, offering 2.9% balance transfers, no fee, with the rate being good for the life of the balance.

The odd thing is that the AA MC is my primary card. I use it for $4k-5k per month in purchases. Because of this, I cannot take advantage of the 2.9% offer, and Citibank should obviously know this.

My question is: why are they sending me these? They are practically begging me to shut down all activity on the card, go to a zero balance, and then write a $15,000 check to my broker to invest their 2.9% money. Since they know and I know that I cannot use the offer effectively AND continue to earn AA miles, why are they so eager for me to completely stop using the card for purchases?

I had always assumed that my volume of purchases was profitable enough for Citibank. What kind of "juice" do they make off of $50k/yr. in charges? 2%? If I run a balance, making minimum payments, at 2.9% + $50/yr., they must be LOSING money...

For now, I'm not taking them up on the offer. I'm rolling over to the SPG Amex soon, so if they keep throwing these things at me in April/May, I might change my mind. I still don't know why Citibank would encourage me to do this.

Anyone else getting these offers?