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Thread: [Targeted] Chase checking customers get 50,000 Ultimate Rewards pts with 100k deposit
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Old Oct 2, 2017, 5:56 pm
  #6  
azepine00
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Join Date: Dec 2003
Location: LAX
Posts: 10,912
Originally Posted by Happy
Your speculation is wrong. You may be thinking about the AA miles Citi Offer. Miles have no fixed value, quite different from the UR pts. Citi sends out 1099 on TYP bonus earned from opening banking accounts IIRC.

All bonuses earned from banking side that can have a fixed valuation method are taxable.

Chase routinely sends out / put it online, banking account opening bonuses. We do the Saving account each year, depositing 10K for $150 or $15K for $200 depending on the offer - never failed to get a 1099. In fact on the docs you get when opening the account, the 1099 is specifically mentioned.

This offer is an effective 2% APY given the duration to earn the bonus is 3 months.
i thought citi got hit with a lawsuit and had to settle recently

https://hirschairlinemilessettlement.com/

i hope this sets a precedent and ends the nonsense of sending 1099s but IANAL..
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