We have $160K in cash that I'd like to keep liquid but earn some interest or points. Does opening a Citigold or Priority account with earn any ThankYou points? I'm not interested in using Citi for investing - we have other advisors for that. This would just be a liquid cash account and looking to get some benefits for it. I currently have the Citi Prestige card if that matters (could I get the annual fee lowered if I already have the card?)
Thanks for any feedback!
You will get Thank You Points -- although these are bank points, which are a) probably taxable and b) not transferable to partners. And you will get a reduction of $100 in your Prestige fee. You will have to evaluate whether the points you will earn and the $100 you save are worth forgoing the much higher interest you could get from (for example) Ally or American Express Savings. My guess is probably not. You will only earn 0.1% or so (plus the points and the $100, of course) from Citi, while you can get 1% elsewhere. The difference on $160k would be $1340 per year before taxes. I'm pretty sure you won't get nearly enough points to make up for that.