Best miles/points reward for checking or saving account [Consolidated]
Mar 2, 2013, 4:18 pm
#46
Join Date: Apr 2010
Posts: 38
Any good checking account sign up's out there?
I have a large balance in my current checking account (75K) that I will be spending in about 6 months, has anyone seen any good sign ups for new checking accounts with a large initial deposit that I could take advantage of? A short term CD with a return rate of 1/2% seems like an insult and a waste of time for 6 months.
Mar 2, 2013, 5:05 pm
#50
Join Date: Apr 1999
Location: Northport, NY
Posts: 1,732
$30 a month after two free months
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.
https://online.citibank.com/US/JRS/p...do?ID=Citigold
$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 $30 monthly service fee will apply.
https://online.citibank.com/US/JRS/p...do?ID=Citigold
Mar 2, 2013, 6:36 pm
#51
Join Date: Feb 2009
Posts: 10
It can be a good deal, depends on how you use it. I parked one of my retirement account at Citi to stay "gold". That account is invested in some specific stocks at fidelity, now it's at Citi - not going to sell it anytime soon, so it's just sitting at one brokerage company instead of other.
Now, you can get multiple citigold checking accounts - linked to this one 'household qualifying account'. everyone that can use this address as the billing address and the joint accounts. me, spouse, joint, and couple of family members - can all use this linked account to qualify for gold.
Now, if you can setup one direct deposit and one bill pay from each account every month, and an automatic transfer from checking to savings (i have 50$), then that pays 1300 TY points per account every month. (besides the initial bonus of 40k per person). That's about 65$ in walmart gift cards / Amazon gift cards every month for 5 accounts. (as others have pointed out - the citi TY points from checking are reported to IRS if you withdraw more than 600$, combined with referral bonus, interest etc).. so, only take out enough walmart cards / amazon gift certs every year to keep total below 600. (and don't use these points for airline miles as those will be reported @ 2.5 cents per point).
Easy 400$ per person signup bonus and easy 50-60$ a month for checking account.
Now, you can get multiple citigold checking accounts - linked to this one 'household qualifying account'. everyone that can use this address as the billing address and the joint accounts. me, spouse, joint, and couple of family members - can all use this linked account to qualify for gold.
Now, if you can setup one direct deposit and one bill pay from each account every month, and an automatic transfer from checking to savings (i have 50$), then that pays 1300 TY points per account every month. (besides the initial bonus of 40k per person). That's about 65$ in walmart gift cards / Amazon gift cards every month for 5 accounts. (as others have pointed out - the citi TY points from checking are reported to IRS if you withdraw more than 600$, combined with referral bonus, interest etc).. so, only take out enough walmart cards / amazon gift certs every year to keep total below 600. (and don't use these points for airline miles as those will be reported @ 2.5 cents per point).
Easy 400$ per person signup bonus and easy 50-60$ a month for checking account.
Mar 2, 2013, 9:20 pm
#52
Join Date: Mar 2011
Programs: AA, UA, DL, AS, LH, BA, VS, HHonors, Hyatt, Club Carlson, IHG, Marriott
Posts: 833
You need to keep a $50K minimum balance in linked and eligible accounts (see above) to avoid a $30 monthly maintenance fee and the bonus can take up 90 days after the 2nd month that you complete the requirements.
Mar 3, 2013, 10:47 am
#57
Join Date: May 2003
Location: CA
Programs: AA Lifetime Gold, HHonors Diamond
Posts: 2,879
Mar 3, 2013, 11:15 am
#58
Join Date: Dec 2011
Programs: Hyatt Globalist, Marriott Titanium, Hilton Diamond, Wyndham Diamond, IHG Diamond, Omni Platinum
Posts: 197
Not tied to a large initial deposit, but I just got a $200 offer to open a Chase checking account. I only need to maintain $1500 monthly balance to avoid the fees.
Mar 3, 2013, 12:17 pm
#60
Join Date: May 2010
Location: Rockin' the Bakken
Programs: Several
Posts: 978