Oct 24, 2013, 1:37 pm
Last edit by: JDiver
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I'm copying information from various posts that I found useful
1. So online transfers of funds from other banks (Bank of America) or Fidelity accounts will count as direct deposits - is that correct?
CORRECT
2. To get the 30K AA miles, does the Direct deposits have to be for a certain dollar amount? (I realize that there is a $30 monthly fee for the Gold acct if balance is not $50K)
NO MINIMUM DIRECT DEPOSIT REQUIREMENT
3. How long must the direct deposit funds remain with Citibank?
NO REQUIREMENT - NEEDS TO POST AND AFFECT YOUR BALANCE
4. For the debit purchases of $750, just choose the "credit" option instead of debit option at payment - is that correct?
I CHOSE CREDIT, OTHERS HAVE DONE DEBIT AND GOT MILES
5. Like the idea of purchasing a money order at Walmart (of course, depends on the fee). So has this be acceptable to meet the debit purchase of $750 for the offer?
YES
6. Since there is a long delay in getting the account info, checks, and debit card when opening an account online, should I just go into a branch in person to open such an account - is this an option? If not, does Citibank adjust the "60 day from account opening" if you notify them when the materials are not received for several weeks.
YOU CAN GO TO BRANCH TO OPEN ACCOUNT, TAKE OFFER CODE WITH YOU
No. It's a soft pull. However, you will be denied if your credit reports are frozen.
One single WM MO to meet the spend requirement, and DD was met by ACH from Amazon Payments.
(lower right wiki corner)AAdvantage Miles for Opening New Citibank Checking Account
I'm copying information from various posts that I found useful
1. So online transfers of funds from other banks (Bank of America) or Fidelity accounts will count as direct deposits - is that correct?
CORRECT
2. To get the 30K AA miles, does the Direct deposits have to be for a certain dollar amount? (I realize that there is a $30 monthly fee for the Gold acct if balance is not $50K)
NO MINIMUM DIRECT DEPOSIT REQUIREMENT
3. How long must the direct deposit funds remain with Citibank?
NO REQUIREMENT - NEEDS TO POST AND AFFECT YOUR BALANCE
4. For the debit purchases of $750, just choose the "credit" option instead of debit option at payment - is that correct?
I CHOSE CREDIT, OTHERS HAVE DONE DEBIT AND GOT MILES
5. Like the idea of purchasing a money order at Walmart (of course, depends on the fee). So has this be acceptable to meet the debit purchase of $750 for the offer?
YES
6. Since there is a long delay in getting the account info, checks, and debit card when opening an account online, should I just go into a branch in person to open such an account - is this an option? If not, does Citibank adjust the "60 day from account opening" if you notify them when the materials are not received for several weeks.
YOU CAN GO TO BRANCH TO OPEN ACCOUNT, TAKE OFFER CODE WITH YOU
Does it require Credit Pull?
Easiest ways to meet requirements
AA Miles For New Citibank Checking Account [Consolidated]
Aug 21, 2013, 2:01 pm
#856
Join Date: Nov 2011
Posts: 229
I opened citigold and met requirements in 2012 but they took their sweet time awarding the points. It took about 6 months and many secure messages/calls. I didn't receive a 1099 but since the points arrived in 2013 I don't think that proves I won't get a 1099 next year.
Here is some interesting information to share. I've called Citi's 1-800 number a few times and also contacted a local branch office in trying to figure out if Citi still sends 1099's for those 30,000 AA miles. The answers I received were in such a wide range and fascinating.
Call #1 - We don't know.
Call #2 -
Citi: Yes, you will get a 1099 because 30,000 miles is worth about $600. It is valued about 1 cent per mile.
Me: One cent per mile? So, 30,000 miles should be valued for $300 not $600.
Citi : Then, you will not get a 1099. [I should trust this answer 100%. 
]
Call #3 - Please call American Airlines and they should be able to tell you how much each mile is worth. Or, when you redeem the AA miles, you should find out the ticket price at that time. Use the dollar amount to report tax. [Wow, what a great idea! ]
]I am still debating if I should go for it. The effort for 30k or 15k miles are pretty much the same and maintaining $50k every month to avoid service fee is doable for me. Therefore, I'm thinking 30K instead of 15k miles. I guess if I did get a 1099 for $750, paying ~25% tax of the $750 to get 30,000 miles would not be super cheap but sort of acceptable still.
Any other suggestions?
Last edited by lw7878; Aug 21, 2013 at 7:27 pm
Aug 22, 2013, 9:48 am
#857
Join Date: Nov 2012
Location: SAN
Posts: 152
Thank you for sharing your experience. You probably are right about why you didn't receive a 1099 this year and I hope you don't get one next year either.
Here is some interesting information to share. I've called Citi's 1-800 number a few times and also contacted a local branch office in trying to figure out if Citi still sends 1099's for those 30,000 AA miles. The answers I received were in such a wide range and fascinating.
Call #1 - We don't know.
Call #2 -]
I am still debating if I should go for it. The effort for 30k or 15k miles are pretty much the same and maintaining $50k every month to avoid service fee is doable for me. Therefore, I'm thinking 30K instead of 15k miles. I guess if I did get a 1099 for $750, paying ~25% tax of the $750 to get 30,000 miles would not be super cheap but sort of acceptable still.
Any other suggestions?
Here is some interesting information to share. I've called Citi's 1-800 number a few times and also contacted a local branch office in trying to figure out if Citi still sends 1099's for those 30,000 AA miles. The answers I received were in such a wide range and fascinating.
Call #1 - We don't know.
Call #2 -
Citi: Yes, you will get a 1099 because 30,000 miles is worth about $600. It is valued about 1 cent per mile.
Me: One cent per mile? So, 30,000 miles should be valued for $300 not $600.
Citi : Then, you will not get a 1099. [I should trust this answer 100%. ]
Call #3 - Please call American Airlines and they should be able to tell you how much each mile is worth. Or, when you redeem the AA miles, you should find out the ticket price at that time. Use the dollar amount to report tax. [Wow, what a great idea! ]]I am still debating if I should go for it. The effort for 30k or 15k miles are pretty much the same and maintaining $50k every month to avoid service fee is doable for me. Therefore, I'm thinking 30K instead of 15k miles. I guess if I did get a 1099 for $750, paying ~25% tax of the $750 to get 30,000 miles would not be super cheap but sort of acceptable still.
Any other suggestions?
I went through the same analysis and decided that the 30,000 was worth a little hassle and cost, like many Citi products. The cost per point (with taxes) is still less than many MS schemes IF you don't have plans for the 50K that might just be sitting while you wait for the points. I'm going to close my account soon and probably do this again when the offer rolls around. I'm sitting on a code right now for my wife, just haven't pulled the trigger. I constantly change her cards in her purse and tell her to use this or that. Not sure if I feel like adding a couple more items for her to pursue while she's meeting min spend goals.
Sep 2, 2013, 1:36 pm
#858
Join Date: Dec 2011
Posts: 232
Can someone confirm this will work ?
I opened a CitiGold card for the 30K AA offer on 8/30 and have 0$ in my account
Planning to do two ACH pushes to my account thru paypal for $400 each on Sep 5th and Oct 5th.
purchase a money order / Vanilla using this DEBIT card some time later for $750+
wait for miles to show up on AA ?
Did I get that correct ?
I opened a CitiGold card for the 30K AA offer on 8/30 and have 0$ in my account
Planning to do two ACH pushes to my account thru paypal for $400 each on Sep 5th and Oct 5th.
purchase a money order / Vanilla using this DEBIT card some time later for $750+
wait for miles to show up on AA ?
Did I get that correct ?
Last edited by ftbargain; Sep 2, 2013 at 1:48 pm
Sep 2, 2013, 11:37 pm
#861
Join Date: Nov 2011
Posts: 229
Can someone confirm this will work ?
I opened a CitiGold card for the 30K AA offer on 8/30 and have 0$ in my account
Planning to do two ACH pushes to my account thru paypal for $400 each on Sep 5th and Oct 5th.
purchase a money order / Vanilla using this DEBIT card some time later for $750+
wait for miles to show up on AA ?
Did I get that correct ?
I opened a CitiGold card for the 30K AA offer on 8/30 and have 0$ in my account
Planning to do two ACH pushes to my account thru paypal for $400 each on Sep 5th and Oct 5th.
purchase a money order / Vanilla using this DEBIT card some time later for $750+
wait for miles to show up on AA ?
Did I get that correct ?
Sep 3, 2013, 9:52 pm
#862
Join Date: Jun 2005
Location: Sweet Home Chicago
Programs: Hilton Gold, Marriott Gold
Posts: 646
Can someone confirm this will work ?
I opened a CitiGold card for the 30K AA offer on 8/30 and have 0$ in my account
Planning to do two ACH pushes to my account thru paypal for $400 each on Sep 5th and Oct 5th.
purchase a money order / Vanilla using this DEBIT card some time later for $750+
wait for miles to show up on AA ?
Did I get that correct ?
I opened a CitiGold card for the 30K AA offer on 8/30 and have 0$ in my account
Planning to do two ACH pushes to my account thru paypal for $400 each on Sep 5th and Oct 5th.
purchase a money order / Vanilla using this DEBIT card some time later for $750+
wait for miles to show up on AA ?
Did I get that correct ?
I believe the best way to make this work successfully is to get the minimum ask done quickly and then force them to tell you via SM that you've done it. Then don't wait too long to get your miles before tapping them on the shoulder again.
Sep 12, 2013, 11:21 am
#863
Join Date: Oct 2008
Posts: 164
I got a targeted 30k AA miles for opening a CitiGold checking account and make 1 direct deposit each month for 2 months AND $750 debit card purchases.
There is a $30/month fee. I can put $50k in to avoid the fee then withdraw later when the 30k bonus miles posted. It says the bonus miles will be deposited within 90 days from the end of the statement period in which you meet all offer requirements.
What's the typical times pane the bonus miles are posted into AA account? Can I cancel the checking account and withdraw the $50k immediately after the bonus miles posted?
Is there any other way to avoid the $30/month fee?
Thanks,
There is a $30/month fee. I can put $50k in to avoid the fee then withdraw later when the 30k bonus miles posted. It says the bonus miles will be deposited within 90 days from the end of the statement period in which you meet all offer requirements.
What's the typical times pane the bonus miles are posted into AA account? Can I cancel the checking account and withdraw the $50k immediately after the bonus miles posted?
Is there any other way to avoid the $30/month fee?
Thanks,
Sep 13, 2013, 2:36 pm
#864
Join Date: May 2012
Location: Minneapolis, MN USA
Posts: 107
I got a targeted 30k AA miles for opening a CitiGold checking account and make 1 direct deposit each month for 2 months AND $750 debit card purchases.
There is a $30/month fee. I can put $50k in to avoid the fee then withdraw later when the 30k bonus miles posted. It says the bonus miles will be deposited within 90 days from the end of the statement period in which you meet all offer requirements.
What's the typical times pane the bonus miles are posted into AA account? Can I cancel the checking account and withdraw the $50k immediately after the bonus miles posted?
Is there any other way to avoid the $30/month fee?
Thanks,
There is a $30/month fee. I can put $50k in to avoid the fee then withdraw later when the 30k bonus miles posted. It says the bonus miles will be deposited within 90 days from the end of the statement period in which you meet all offer requirements.
What's the typical times pane the bonus miles are posted into AA account? Can I cancel the checking account and withdraw the $50k immediately after the bonus miles posted?
Is there any other way to avoid the $30/month fee?
Thanks,
By the way, my balance never got over about $300 the entire time my account was open.
Sep 16, 2013, 10:56 am
#866
Join Date: Oct 2008
Posts: 164
I think they waive the fee for the first three months if I remember correctly? I was able to do the deal the last time around without any fees. I met their requirements - it took me two months - and I got the miles. Just be sure to call or online chat with them immediately after you fulfill the requirements and ask for the miles. It seems a lot of FT members, myself included, had to remind them to award the miles.
By the way, my balance never got over about $300 the entire time my account was open.
By the way, my balance never got over about $300 the entire time my account was open.
When you applied for your CitiGold account. Did Citi pull a hard inquiry on your credit report? Thanks
Sep 16, 2013, 12:53 pm
#867
Join Date: May 2012
Location: Minneapolis, MN USA
Posts: 107