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Thread: Best CCs for an AA Traveler (Aside from Citi)
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Old Jun 29, 2011 | 4:04 pm
  #29  
GetawaysRus
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Originally Posted by twiggers
2. Sign-up for Citi checking for DH.
Be aware that Citi has started sending 1099s for the value of the miles that they give you on some of their account offers.

I opened several Citi checking and Ultimate Savings accounts for both my wife and myself over the years. And we enjoyed the miles that we got until I received a 1099 form for $125 because of a 5000 mile bonus I had received for opening an Ultimate Savings account. IMHO, if Citi is valuing miles at 2.5 cents per mile (and thus a 1099 for $125 for a 5000 mile award), this is not a deal. I have since closed all of my Citi banking accounts.

This does not apply for Citi credit cards. The miles from credit card spend or bonuses do not bring you a 1099.

If you are thinking of opening a Citi banking account, find out first if this will lead to an unwanted 1099 form.
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