End of C2IT as we Know It
C2IT, the Citibank pay by email service that lets you send money to anyone with an email address, is raising it's fees. Just like Paypal and others in this business, they are making their pricing structure unattractive for mileage collectors. Previously, the fee to email money from your Citibank Aadvantage Mastercard to "someone" was a flat $2. You could send up to $500 a day, but no more than $1000 every four days. If you have been following along with me, you realize that credit card debits result in miles posted to your American Airlines account.
Sending $25,000 in cash over time, enough for a ticket, would cost you a mere $100. After April 30th, 2001 the fee will be raised to 2% of the amount sent. This makes it not such a good deal if you are collecting miles, as 2% of $25,000, enough for the magic 25,000 miles and a ticket, would come to $500. But, it is still free for the first 3 months of use for new users.