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]
Jul 11, 2012, 11:16 pm
#511
Join Date: Mar 2011
Programs: AA, UA, DL, AS, LH, BA, VS, HHonors, Hyatt, Club Carlson, IHG, Marriott
Posts: 833
Only a soft pull. The bureau involved varies depending on the state you live in.
Jul 12, 2012, 10:45 am
#512
Suspended
Join Date: May 2012
Location: ORD
Programs: AA, UA, AS, DL, BA, F9, IHG Plat, HH Gold, CC Gold, SPG Gold, MR Silver
Posts: 1,786
Thanks, but now I'm even more confused...FT says hard and on FW I'm told soft and chexsystems. Is there a difference depending where you open account...phone, online, or at branch?
Jul 14, 2012, 12:52 pm
#515
Join Date: Sep 2005
Location: CVG
Programs: AAdvantage, Delta Skymiles, CapOne Venture, Citi ThankYou
Posts: 486
NO 1099 on Offer CYKS
Also just got this in the mail and do not see anything on 1099-INT. A couple of months back, I received a similar mailer but the 1099 was quite prominent on that one which I quickly trashed. I wonder if Citibank has changed their policy with regards to issuing 1099s on these?
Citi's interpretation of the law is that if they give you points/miles simply as function of account use it is considered miscellaneous interest under the law and subject to IRS reporting on a 1099-MISC. If they require you spend something to get the points/miles it is considered a bonus under the law and is not subject to IRS reporting.
What is new about this offer is the spend requirement. Prior offers required direct deposit, bill pay, etc. but no spend threshold to my recollection.
This appears to be Citi's response to all the fallout in the press to their banking offers in the past few years which resulted in 1099s being rained on their customers. Good on them for coming up with a solution that meets their interpretation of the code and is still a reasonable offer for their customer base.
I think I'm jumping on this one myself so if anyone has ideas on how to fulfill the Citigold terms without incurring a monthly maintenance fee I'd be grateful. I know credit cards can be considered toward Citigold status as may mortgages but I cannot recall if it's credit card limits or balances. I'll have to do some research.
Jul 14, 2012, 1:28 pm
#516
Join Date: Sep 2005
Location: CVG
Programs: AAdvantage, Delta Skymiles, CapOne Venture, Citi ThankYou
Posts: 486
Citigold fee waivers appear to be based on balances.
Avoid Monthly Fees. Get More Service
As you do more with Citi, your Citigold relationship has even more advantages.
No opening deposit required for a Citigold checking account.
Waive monthly service fees on your Citigold checking account by linking accounts. There's no monthly service fee for the first two statement periods. After that, we'll continue to waive the monthly service fee if the combined average monthly balance of your eligible linked accounts is:
$50,000 or more for all linked deposit and retirement accounts OR
$100,000 or more across all your eligible linked Citi accounts, including
investments and loan balances, but excluding mortgage balances.
Otherwise, a $30 monthly service fee will apply.1
Anyone know if you could fulfill in the first two months when the Citigold fee is waived, change account types in month three and still yield the Citigold AADV bonus?
Avoid Monthly Fees. Get More Service
As you do more with Citi, your Citigold relationship has even more advantages.
No opening deposit required for a Citigold checking account.
Waive monthly service fees on your Citigold checking account by linking accounts. There's no monthly service fee for the first two statement periods. After that, we'll continue to waive the monthly service fee if the combined average monthly balance of your eligible linked accounts is:
$50,000 or more for all linked deposit and retirement accounts OR
$100,000 or more across all your eligible linked Citi accounts, including
investments and loan balances, but excluding mortgage balances.
Otherwise, a $30 monthly service fee will apply.1
Anyone know if you could fulfill in the first two months when the Citigold fee is waived, change account types in month three and still yield the Citigold AADV bonus?
Jul 14, 2012, 1:33 pm
#517
Join Date: Jan 2012
Posts: 757
If they require you spend something to get the points/miles it is considered a bonus under the law and is not subject to IRS reporting.
What is new about this offer is the spend requirement. Prior offers required direct deposit, bill pay, etc. but no spend threshold to my recollection.
What is new about this offer is the spend requirement. Prior offers required direct deposit, bill pay, etc. but no spend threshold to my recollection.
The 750 of spend # for something they have in the past valued at that dollar amount would be consistent with this analysis.
Last edited by dcpilgrim; Jul 14, 2012 at 2:58 pm
Jul 14, 2012, 1:55 pm
#518
Suspended
Join Date: May 2012
Location: ORD
Programs: AA, UA, AS, DL, BA, F9, IHG Plat, HH Gold, CC Gold, SPG Gold, MR Silver
Posts: 1,786
According to most in this thread it takes about 90ish days for bonus to post after fulfilling terms and Citigold acct. must remain open...so 5ish months or 3x $30 in fees.
Jul 14, 2012, 9:39 pm
#519
Join Date: Sep 2011
Location: IND/NYC/MEX
Programs: AA PPro BA Bronze SPG Gold HH GLD Hyatt Exp
Posts: 1,134
I got the 30k offer in the mail the other day. If it takes that long I don't know if I am game. I was hoping I would just have to pay it for a month.
Jul 18, 2012, 9:44 am
#521
Moderator: Chase Ultimate Rewards
Join Date: Apr 2005
Location: SFO
Programs: UA 2P, MR LT Plat, IHG Plat, BW Dia, HH Au, Avis PC
Posts: 5,452
I think this is a new offer? Just got it by e-mail as a promotion for AA Amex cardholders:
Code CY5Z
Citigold = 30k miles after $750 debit card purchases w/in 2 months and direct deposit for 2 months
Citibank = 15k after $375 and 2 months direct deposit
Basic Checking = 5k after $125 and 2 months direct deposit
expires 8/31/12
Code CY5Z
Citigold = 30k miles after $750 debit card purchases w/in 2 months and direct deposit for 2 months
Citibank = 15k after $375 and 2 months direct deposit
Basic Checking = 5k after $125 and 2 months direct deposit
expires 8/31/12
Jul 30, 2012, 2:42 pm
#522
Formerly known as fsa_ea
Join Date: Dec 2004
Location: Up in the Air
Programs: UA GS/1MM,AS 75k,NK GLD,AA 2MM,DL 2MM,LH FT,AY PLT,IC RA,FMT LT PLT,HYT GLB,HLT DIA,MRT GLD,HRTZ PC
Posts: 2,229
Anyone figured out how to open a CitiGold account online with one the current promo codes (CYKS, CYKE, or CY5Z)? No matter which code I use, the application defaults to the standard Citi checking account, and I see no way to change that selection.
Jul 31, 2012, 4:26 pm
#523
Join Date: Apr 2010
Posts: 257
If you call them, you can get it setup correctly by an agent.
Aug 8, 2012, 9:28 am
#524
Join Date: Apr 2011
Location: ACC
Programs: AAdvantage, MIleagePlus, Skywards
Posts: 395
Is there any hope of obtaining some non 1099 generating miles but without a direct deposit requirement? I get paid overseas and thus no direct deposit. I can meet the spending if necessary by having a family member use the account on my behalf. I can meet whatever minimum balances Citi requires if that helps to avoid the monthly fees but still get the miles.
I'm keen to open a Citi bank account, get some miles, not have to hassle with a 1099, and not pay any monthly account fee.
Am I asking for too much?
I'm keen to open a Citi bank account, get some miles, not have to hassle with a 1099, and not pay any monthly account fee.
Am I asking for too much?
Aug 8, 2012, 9:29 am
#525
Join Date: Nov 2010
Location: DFW
Posts: 413
Is there any hope of obtaining some non 1099 generating miles but without a direct deposit requirement? I get paid overseas and thus no direct deposit. I can meet the spending if necessary by having a family member use the account on my behalf. I can meet whatever minimum balances Citi requires if that helps to avoid the monthly fees but still get the miles.
I'm keen to open a Citi bank account, get some miles, not have to hassle with a 1099, and not pay any monthly account fee.
Am I asking for too much?
I'm keen to open a Citi bank account, get some miles, not have to hassle with a 1099, and not pay any monthly account fee.
Am I asking for too much?
--wes