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Benefits of a Citigold account? [consolidated]

Old Apr 14, 2016, 7:52 am
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CitiGold is Citi's premium banking relationship. To remain a Citigold client, maintain a minimum combined average monthly balance of $200,000 in eligible linked deposit, retirement and investment accounts. There is no monthly service fee for accounts in The Citigold Account Package.

Be aware that Citi Wealth Management will not allow any trading of non traditional stocks and ETFs. No leveraged ETFs, no inverse ETFs. Its brokerage service is similar to Chase YouInvest. It is just basic investment service.

1. Click HERE to read a separate thread discussing expiration of ThankYou Points when closing a Citigold account.

2. Citi has introduced Citi Priority with a minimum combined balance of $50K as of November 6, 2016. Those who were no longer qualified under the new Citigold requirement has been downgraded to Citi Priority. Discussion HERE.
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Benefits of a Citigold account? [consolidated]

Old Jun 17, 2009, 1:55 pm
  #16  
 
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You need to add two more banking products.

https://online.citibank.com/US/JRS/p...BNATYRNRewards
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Old Jun 17, 2009, 2:02 pm
  #17  
 
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Originally Posted by LH2004
You need to add two more banking products.

https://online.citibank.com/US/JRS/p...BNATYRNRewards
Thanks, the link was helpful, though I'm not sure I want to sign up for more Citi loans. Maybe if they still had the old TYP redemption schedule...
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Old Jun 17, 2009, 2:27 pm
  #18  
 
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Originally Posted by j3brooklyn
Thanks, the link was helpful, though I'm not sure I want to sign up for more Citi loans. Maybe if they still had the old TYP redemption schedule...
There are 6 non-borrowing products that count (ATM card, CD, checking, direct deposit, bill payment, and savings or money market account) and at least 3 more that don't require carrying any balance, though they may have fees depending on other factors (Checking Plus, HELOC, and Ready Credit). But, as you said, it may not be worth putting any effort into it for $6 of value per month.
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Old Jun 17, 2009, 2:32 pm
  #19  
 
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Originally Posted by LH2004
There are 6 non-borrowing products that count (ATM card, CD, checking, direct deposit, bill payment, and savings or money market account) and at least 3 more that don't require carrying any balance, though they may have fees depending on other factors (Checking Plus, HELOC, and Ready Credit). But, as you said, it may not be worth putting any effort into it for $6 of value per month.
Exactly. I already have the ATM card, checking account, bill payment, savings account, and mortgage. I could open a CD with the minimum deposit and also do direct deposit, but the $6/month hardly seems worth the trouble.
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Old Jun 17, 2009, 3:23 pm
  #20  
 
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I think that it is worth it

You could get checking plus which is overdraft protection. It doesn't cost you anything and just in case it covers a check. A CD is an easy one. The points add up for not really doing anything.
The fees are also waived if a deposited check bounces. I think that there is a foreign exchange fee of 1% rather than 3%. Free checks. I have my fee waived for 3 AAdvantage credit cards, premier pass card and diner's club card. It's 7200 points a year for not doing anything.
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Old Jun 17, 2009, 5:02 pm
  #21  
 
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Originally Posted by dgordon
I think that there is a foreign exchange fee of 1% rather than 3%.
Actually the foreign exchange fee is waived for ATM / debit card purchases.
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Old Jun 17, 2009, 7:55 pm
  #22  
 
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Originally Posted by deant
Actually the foreign exchange fee is waived for ATM / debit card purchases.
They keep changing it. I THINK it's free right now, but it used to be charged.

To the OP: There are also reduced fees for wires (can't remember exactly) if that's something you do, and higher limits for transfers, etc.
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Old Jun 17, 2009, 10:48 pm
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Originally Posted by andyli
They keep changing it. I THINK it's free right now, but it used to be charged.
It is listed on their web site as being waived for CitiGold. Also, I have confirmed from Citi, in writing, that when you use the debit card as a charge card the fees are also waived.
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Old Jun 18, 2009, 8:33 am
  #24  
 
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I called and it was verified that there are no foreign exchange fees currently for citigold. I was charged in 2007 and 2008. One change in our favor.
Of course more thank you points than a regular checking account. Also reduction on the rate of my home equity loan.
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Old Oct 27, 2010, 7:08 pm
  #25  
 
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Citigold reduced balance requirement (credit card annual fee waiver)

I tried to find an existing thread that would be appropropriate place for this, but search results only revealed very old threads disucussing annual fee waivers for Citigold accounts or brief mentions of Citigold buired in very long threads about Citibank credit card churning, retention bonuses, etc.

As I'm sure many of you already know, if you have a Citibank "Citigold" account and maintain the required average monthly benefit, you do not pay any account maintenance fees and get a number of benefts, including having the annual fee waived on Citibank reward credit cards. To qualify for no fees on Citigold based on deposit account balances, the requirement has been $100K in linked CB accounts. Effective November 1, CB is reducing this minimum to $50K (for deposit and retirement accounts). Here is a link to some additional information:

https://online.citibank.com/US/JRS/p...do?ID=Citigold

If you are going to pursue this, make sure to find out if the particular credit card you want to get the fee waiver for is included. The CSR I spoke to said that only some rewards cards are and had to check a list to see if my card was included.
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Old Oct 27, 2010, 8:56 pm
  #26  
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Originally Posted by needtoescape
I tried to find an existing thread that would be appropropriate place for this, but search results only revealed very old threads disucussing annual fee waivers for Citigold accounts or brief mentions of Citigold buired in very long threads about Citibank credit card churning, retention bonuses, etc.

As I'm sure many of you already know, if you have a Citibank "Citigold" account and maintain the required average monthly benefit, you do not pay any account maintenance fees and get a number of benefts, including having the annual fee waived on Citibank reward credit cards. To qualify for no fees on Citigold based on deposit account balances, the requirement has been $100K in linked CB accounts. Effective November 1, CB is reducing this minimum to $50K (for deposit and retirement accounts). Here is a link to some additional information:

https://online.citibank.com/US/JRS/p...do?ID=Citigold

If you are going to pursue this, make sure to find out if the particular credit card you want to get the fee waiver for is included. The CSR I spoke to said that only some rewards cards are and had to check a list to see if my card was included.
What are some other benefits for Citigold besides the CC annual fee waiver? Is it worth parking $50K there?

LAX
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Old Oct 28, 2010, 10:53 am
  #27  
mia
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Originally Posted by LAX
What are some other benefits...
These seem to be listed in the link included in the first post. Perhaps if you mention those which sound promising to you we can elicit real world experiences from existing Citigold clients to compare with the marketing hype.
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Old Oct 28, 2010, 12:12 pm
  #28  
 
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Originally Posted by LAX
What are some other benefits for Citigold besides the CC annual fee waiver? Is it worth parking $50K there?

LAX
The normally-blue design elements on the citi.com website become gold. So, there's that.
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Old Oct 28, 2010, 12:35 pm
  #29  
dw
 
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I have a Citi Private Bank account through work, which is very similar to Citigold, but without the minimum balance requirement. One feature that is really nice about Citigold is that no forex fees are assessed on foreign ATM withdrawals. That being said, unless you have an existing mortgage through Citi and can get the fee waiver that way, parking $50k in cash in a low interest rate bearing account at Citi may not be worth whatever you save in fee waivers.
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Old Oct 29, 2010, 10:23 am
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Originally Posted by dw
That being said, unless you have an existing mortgage through Citi and can get the fee waiver that way, parking $50k in cash in a low interest rate bearing account at Citi may not be worth whatever you save in fee waivers.
Parking $50k of an IRA investment account (stocks, bonds, mutual funds), is an obvious alternative. Citi Personal Wealth Management is the new name for the old Smith Barney brokerage, and I find that it's pretty painless to use online (for infrequent trading).
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