Apr 14, 2016, 7:52 am
Last edit by: garykung
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.
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.
Benefits of a Citigold account? [consolidated]
Jun 28, 2013, 3:03 pm
#121
Join Date: Jun 2011
Posts: 3,528
How are people liking Citigold these days?
I'm contemplating switching to it in the near future, particularly if a good bonus shows up. With the monthly TY points and a card discount (if not waiver), seems like a good deal for Citi CC users. My understanding is that if I have $50,000 between all deposit and IRAs, there are no monthly fees?
I'm contemplating switching to it in the near future, particularly if a good bonus shows up. With the monthly TY points and a card discount (if not waiver), seems like a good deal for Citi CC users. My understanding is that if I have $50,000 between all deposit and IRAs, there are no monthly fees?
Jun 28, 2013, 3:12 pm
#122
Join Date: Sep 2012
Location: Florida
Posts: 448
How are people liking Citigold these days?
I'm contemplating switching to it in the near future, particularly if a good bonus shows up. With the monthly TY points and a card discount (if not waiver), seems like a good deal for Citi CC users. My understanding is that if I have $50,000 between all deposit and IRAs, there are no monthly fees?
I'm contemplating switching to it in the near future, particularly if a good bonus shows up. With the monthly TY points and a card discount (if not waiver), seems like a good deal for Citi CC users. My understanding is that if I have $50,000 between all deposit and IRAs, there are no monthly fees?
Jun 28, 2013, 3:19 pm
#123
Join Date: Aug 2010
Posts: 633
How are people liking Citigold these days?
I'm contemplating switching to it in the near future, particularly if a good bonus shows up. With the monthly TY points and a card discount (if not waiver), seems like a good deal for Citi CC users. My understanding is that if I have $50,000 between all deposit and IRAs, there are no monthly fees?
I'm contemplating switching to it in the near future, particularly if a good bonus shows up. With the monthly TY points and a card discount (if not waiver), seems like a good deal for Citi CC users. My understanding is that if I have $50,000 between all deposit and IRAs, there are no monthly fees?
Jun 28, 2013, 3:27 pm
#124
Join Date: Jan 2013
Location: SEATAC
Programs: AS MVP Gold
Posts: 186
There is a new similar offer on citi's website that adds in their pop money payment service as part of the bonus requirement. I signed up in April through an offer on the Citi website that seemed to be 1 bill payment and 1 direct deposit for two consecutive months along with signing up for thank you rewards in 45 days. Haven't gotten points yet, if they don't post this statement period I'm going to get in touch with them.
Monthly fee was waived for first two months for me, appears to be a standard offer. Otherwise 50k will keep the fee away. As someone who almost exclusively uses online banking, I don't think I'll keep Citi gold once I get the bonus.
Monthly fee was waived for first two months for me, appears to be a standard offer. Otherwise 50k will keep the fee away. As someone who almost exclusively uses online banking, I don't think I'll keep Citi gold once I get the bonus.
Jun 29, 2013, 7:05 am
#125
Join Date: Jun 2011
Posts: 3,528
I like it. Glad they give me no annual fee on several TY cards including AU's. It has been a hassle to get them to work with the household account so wife's and mine don't have a fee with a total of 50K. They continue to get that screwed up and charge me or my wife the fee.
Is Citi still sending out 1099s for bonus points? What are they valuing TYP/AA miles at?
Jun 29, 2013, 9:34 am
#126
Join Date: Aug 2010
Posts: 633
I believe TYP's are 1099 from bank accounts according to the value when redeemed.
They valued my AA miles from a Gold account set up a couple of years ago at 2.5c a mile. I disputed but with no resolution.
May 17, 2014, 10:33 am
#128
Join Date: Jan 2014
Posts: 1
Citigold and 50,000 AA bonus miles
I would like to know if this is a good deal. The deal is to open a checking account in the Citigold account package by 30 June, set-up 1 bill payment for 2 months, and spend $1,000 in purchases on your Citibank Debit Card. If you do this, 50,000 miles will be credited to your account in 90 days. There is a $30 monthly fee. What you think, everyone?
May 17, 2014, 10:56 am
#130
Community Director Emerita
Join Date: Oct 2000
Location: Anywhere warm
Posts: 33,752
Be aware that at the end of the year, you will receive a tax form that imputes a value determined by AA. You will need to declare that on your income tax. For 50K points I'd be inclined to do it. I did it for 30K points and the tax consequences wiped out most of the benefit. Mind you, bloggers such as gleff have written in the past about how to challenge the value that AA gives but our CPA didn't take on the challenge.
May 17, 2014, 12:56 pm
#131
Join Date: Aug 2013
Location: New Jersey
Programs: IHG Platinum Ambassador, United Gold
Posts: 43
I just did this today to get the 50K, although I am a little concerned now about the tax issue mentioned above. That seems strange but I guess I'll find out next January/February 
I also travel to Japan once in a while, and the only American banks I see when I'm there (Tokyo) are Citi, including ATMs. The CSR told me that I can use the debit card in Japan at Citi ATMs and there are no fees, including foreign transaction fees or exchange fees. I won't be able to test that personally until next year, but there could be additional value there if you go to Japan frequently and use an ATM a lot. I suppose they could always attempt to screw you on the exchange rate if there are truly no fees, so I would be wary of that.
The CSR also told me that using the Citi debit card would earn ThankYou points. So if it is possible to pay off your credit cards with your debit card, that could be a decent way of double dipping. I've never tried this; just a thought.
I also travel to Japan once in a while, and the only American banks I see when I'm there (Tokyo) are Citi, including ATMs. The CSR told me that I can use the debit card in Japan at Citi ATMs and there are no fees, including foreign transaction fees or exchange fees. I won't be able to test that personally until next year, but there could be additional value there if you go to Japan frequently and use an ATM a lot. I suppose they could always attempt to screw you on the exchange rate if there are truly no fees, so I would be wary of that.
The CSR also told me that using the Citi debit card would earn ThankYou points. So if it is possible to pay off your credit cards with your debit card, that could be a decent way of double dipping. I've never tried this; just a thought.
Last edited by Diotallevi; May 17, 2014 at 1:06 pm
May 17, 2014, 3:39 pm
#133
Join Date: Aug 2013
Location: New Jersey
Programs: IHG Platinum Ambassador, United Gold
Posts: 43
I don't have a link; I lost my email and called the number on the back of one of my Aadvantage cards, and they transferred me to the Investment/Banking people. They did know what I was talking about, though.
You might try calling 800-321-2484 and reference code R2C_CHK_Q2_2014. I'm pretty sure that is the code for this offer. Let me know if that works or if you need more info.
Here is a link I found that explains a little bit about the potential taxation of miles from opening a banking account:
http://optimataxrelief.com/taxed-frequent-flyer-miles/
You might try calling 800-321-2484 and reference code R2C_CHK_Q2_2014. I'm pretty sure that is the code for this offer. Let me know if that works or if you need more info.
Here is a link I found that explains a little bit about the potential taxation of miles from opening a banking account:
http://optimataxrelief.com/taxed-frequent-flyer-miles/
Last edited by Diotallevi; May 17, 2014 at 4:02 pm Reason: add info
May 17, 2014, 4:51 pm
#135
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Extensive discussion of the tax reporting issue here:
http://www.flyertalk.com/forum/miles...all-banks.html
http://www.flyertalk.com/forum/miles...all-banks.html