Originally Posted by
rooney
How do they determine the value of 40k points? Or the 50k offer also available?
They use the actual value of the points as you redeem them.
$400 worth of gift cards =$400 and no 1099.
$640 worth of flights (redeemed through Citi with the Prestige card)= $640 and 1099.
It's really pretty straightforward, and it is based on calendar year. So split the points between years if necessary.
Note this is only bank points, not cc points which incur no 1099.
Incidentally, when using this offer, do not overlook the benefits of how you fund the initial opening.