Citi Hilton Honors Visa/ 40,000 Bonus Points
Apr 25, 2011, 8:30 am
#3
Join Date: Mar 2010
Location: BWI, DCA, IAD
Programs: SWA A-List Preferred & CP, Delta Diamond, HH Diamond Hyatt Diamond
Posts: 553
hmm... just switched to Surpass and am working on completing the requirements to get the extra 40k on top of the new 9 pts/dollar.
$1000 spend is easy and no fee means you can get your points and then hack the card up when you're done with it.
Might have to apply!
$1000 spend is easy and no fee means you can get your points and then hack the card up when you're done with it.
Might have to apply!
Apr 25, 2011, 9:19 am
#4
Join Date: Mar 2011
Posts: 73
Seems like a good deal, think I might do it. I currently own the Amex Hilton card (the one without an annual fee) Seems like this card is comparable to the AmEx card. Only difference I can identify (from memory) is the Amex can get you gold if you spend > $20k.
Applying and spending $1000 will be a nice easy 40,000 points.
Applying and spending $1000 will be a nice easy 40,000 points.
Apr 25, 2011, 11:10 am
#5
FlyerTalk Evangelist
Join Date: Sep 2006
Location: Toledo, OH
Programs: Delta DM & MM, Hilton DM, Marriott gold, Hyatt Globalist, Alaska 75K, Wyndham Diamond,
Posts: 15,401
Seems like a good deal, think I might do it. I currently own the Amex Hilton card (the one without an annual fee) Seems like this card is comparable to the AmEx card. Only difference I can identify (from memory) is the Amex can get you gold if you spend > $20k.
Applying and spending $1000 will be a nice easy 40,000 points.
Applying and spending $1000 will be a nice easy 40,000 points.
The Citi card is nice for those merchants that don't accept am ex.
Apr 25, 2011, 2:06 pm
#7
FlyerTalk Evangelist
Join Date: Dec 2006
Location: Pacific Northwest
Programs: UA Gold 1MM, AS 75k, AA ExPlat, Bonvoyed Gold, Honors Dia, Hyatt Explorer, IHG Plat, ...
Posts: 17,063
As you say, those threads are about checking accounts. I don't think Citi is sending out 1099s for credit card miles/points. Certainly I didn't receive one for my AA MC.
Apr 25, 2011, 3:19 pm
#8
Join Date: Aug 2010
Location: Boston
Programs: HHonors Diamond, Marriott Platinum, United 1K,
Posts: 209
How does the 40K compare to other bonuses offered on this card?
When I searched for "Citi Hilton HHonors", I didn't find too much about other offers. It looks like 30k for 600 spend is the norm, but I cannot tell what other higher bonuses (if any) they've offered.
When I searched for "Citi Hilton HHonors", I didn't find too much about other offers. It looks like 30k for 600 spend is the norm, but I cannot tell what other higher bonuses (if any) they've offered.
Apr 25, 2011, 11:50 pm
#9
Join Date: Jun 2001
Location: CA & Europe
Programs: AA Life-Plat 5MM, HH Diamond, IHG Plat, UA, BA
Posts: 738
Can it be churned
Does anybody have experience churnning this card (I think it does not say in T&Cs for 1st time applicants). How long to wait after cancelling one?
Apr 26, 2011, 12:56 am
#10
Join Date: May 2003
Location: CA
Programs: AA Lifetime Gold, HHonors Diamond
Posts: 2,879
Apr 26, 2011, 7:56 am
#11
FlyerTalk Evangelist
Join Date: Sep 2006
Location: Toledo, OH
Programs: Delta DM & MM, Hilton DM, Marriott gold, Hyatt Globalist, Alaska 75K, Wyndham Diamond,
Posts: 15,401
As a CPA, I can tell you miles aren't taxable. In fact it would be hard for citi or anyo ther company to put a value on the miles to tax them. I have seen some people on here value hilton points at 1/2 cent each and I get a value of well over a penny each on them. There is also the issue you might not get ANY value out of them. If you don't use the miles and they expire or you never use them, you are getting NO VALUE out of them.
If they give you a cash bonus of over $10 for opening an account they typically treat that as interest and issue a 1099-INT over it. I have had that happen with chase and another institution before with new account premiums. But in those cases you ARE receiving the benefit since the cash went in your account and the amount of compensation is very easy to determine.
Apr 26, 2011, 2:30 pm
#12
Join Date: Apr 2010
Location: sjc sfo
Programs: A little bit of miles and points scattered everywhere
Posts: 360
Are you sure it is for miles and not for $ for opening a new account??
As a CPA, I can tell you miles aren't taxable. In fact it would be hard for citi or anyo ther company to put a value on the miles to tax them. I have seen some people on here value hilton points at 1/2 cent each and I get a value of well over a penny each on them. There is also the issue you might not get ANY value out of them. If you don't use the miles and they expire or you never use them, you are getting NO VALUE out of them.
If they give you a cash bonus of over $10 for opening an account they typically treat that as interest and issue a 1099-INT over it. I have had that happen with chase and another institution before with new account premiums. But in those cases you ARE receiving the benefit since the cash went in your account and the amount of compensation is very easy to determine.
As a CPA, I can tell you miles aren't taxable. In fact it would be hard for citi or anyo ther company to put a value on the miles to tax them. I have seen some people on here value hilton points at 1/2 cent each and I get a value of well over a penny each on them. There is also the issue you might not get ANY value out of them. If you don't use the miles and they expire or you never use them, you are getting NO VALUE out of them.
If they give you a cash bonus of over $10 for opening an account they typically treat that as interest and issue a 1099-INT over it. I have had that happen with chase and another institution before with new account premiums. But in those cases you ARE receiving the benefit since the cash went in your account and the amount of compensation is very easy to determine.
Apr 26, 2011, 2:49 pm
#13
FlyerTalk Evangelist
Join Date: Sep 2006
Location: Toledo, OH
Programs: Delta DM & MM, Hilton DM, Marriott gold, Hyatt Globalist, Alaska 75K, Wyndham Diamond,
Posts: 15,401
don't mean to hijack this farther off topic, but yes i understand that Citi will send a 1099 for opening a citi checking account where you get a bonus. i just opened mine and my bonus will be 25K after I do the applicable tasks to get the miles. from what i understand citi values the 25K miles at some ridiculous $ conversion rate. i just found out about this yesterday, not real thrilled. citi does not send 1099 for credit card bonuses, just for checking. i did checking deal with chase last year for about 25k continental miles and did not receive 1099. i did do bank of the west deal though for free ipod and they did send me a 1099 for the value of the ipod. i guess the question is for you...the cpa...should i not report that 1099 on my taxes? i dont know if that is possible since doesnt the irs receive a copy?
Just curious as to how they are going to report it on the 1099. I am assuming they will issue a 1099-Misc.
Airline miles shouldn't be taxed. LIke I said it's possible you will never use them and therefore have no benefit from them. If citi is 1099ing miles received as a promo then why aren't they 1099ing miles earned through credit card usage????
Apr 26, 2011, 3:34 pm
#14
Join Date: Apr 2011
Location: San Francisco, CA
Programs: UA Plat, Copa Pres. Plat, Hyatt Diamond, Hilton Diamond, SPG LT Gold, Marriott Gold
Posts: 769
I just applied (and got instant approval) for a deal that yields 50000-62500: https://www262.americanexpress.com/a...ard/71-1000-78
Apr 26, 2011, 6:45 pm
#15
Join Date: May 2003
Location: CA
Programs: AA Lifetime Gold, HHonors Diamond
Posts: 2,879
I just applied (and got instant approval) for a deal that yields 50000-62500: https://www262.americanexpress.com/a...ard/71-1000-78
Many of us have not had the Visa card and that is why this offer is interesting.