Ok, very strange situation just happened today. I received a 1099-INT tax form in the mail indicating I had received $125.00 in interest from my Citibank Ulitmate Savings Account.
I looked into this and calculated that I've received no more than $6 total for my Ultimate Savings Account that I opened in early in 2010 for the 5,000 AA miles.
So I called up Citibank to ask where this $125 in interest is coming from. The CSR had no idea, and was trying to give me some excuse, saying that if I used the 5,000 AA miles, then this is probably the interest for that. It makes no sense since my AAdvantage account and what I redeem with it has nothing to do with interest income from my Citibank savings account!
She transfered me to a supervisor who was just as perplexed as I was where this $125 is coming from. And she even said she received one of the 1099-INT forms with the exact same interest amount just yesterday as well! She took down my number and said she needed to do more research into what's going on and will call me back.
Has anyone who opened these USAs with Citibank received an 1099-INT form with $125 interest? How does 5,000 AA miles = $125? Not sure, but this is a bit worrying...