Posted by William Charles on October 6, 2015
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Published on October 6th, 2015 | by William Charles

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[Expired]Citibank Checking: 50,000 American Airline Miles Or 50,000 ThankYou Point Offers & F.A.Q’s

This offer has now expired, click this link to see the best current bank bonuses.

The Offers

Citi has released their best offers ever for their checking accounts, you can now get 50,000 American Airline miles (previous best was 30,000 miles) or 50,000 Citi ThankYou points (previous best was 40,000 points). Let’s take a quick look at the information that is the same for both offers, followed by the individual bonuses themselves:

  • Hard/soft pull: Soft
  • Credit card funding: Yes, $100,000 limit (be wary of cash advance fees, click that link to see what has/hasn’t been a cash advance and set your cash advance limits appropriately).
  • Monthly fees: $10-$30, avoidable
  • Early account termination fee: $0
  • Expiration date: December 31st, 2015

Avoiding Fees

All of the Citibank accounts waive the monthly service fee for the first two months, after that you need to complete set requirements to keep them fee free.

Citigold Account Package $30 Monthly Fee

To avoid the $30 monthly fee you need to complete one of the following:

  • $50,000 in combined link deposit or retirement accounts
  • $100,000 in all linked deposit, retirement, credit or investment accounts (excluding a first mortgage with citibank)
  • $250,000 including linked Citibank mortgages

Citibank account Package $20 Monthly Fee

To avoid the $20 monthly fee you need to have a combined average balance of $15,000 or more

Basic Banking $10 Monthly Fee

Make a direct deposit (the following methods count as direct deposit, click to view) and 1 bill payment each month or keep an average balance of at least $1,500 in the previous calendar month to avoid the monthly fee.

Early Account Termination Fee $0

We couldn’t find any mention of any EATF in the product disclosures and haven’t heard of anybody being hit with a fee. Your account does need to be open for the miles to post though.

50,000 American Airlines Offer

Direct link to offer [requires promotional code 42ERCWNQU6. I’d strongly recommend calling in to apply on 1-800-374-9500 and confirming your eligible for this offer when you do as the fine print states it’s only for those who received the direct communication).

  • Receive a sign up bonus of up to 50,000 American Airline miles when you’re a Citi® / AAdvantage® credit cardmember. Bonus is broken down as follows:

citi gold 50k AA offer

50,000 Citi ThankYou Points

Direct link to offer [requires promotional code 42ERCZ42PY. I’d strongly recommend calling in to apply on 1-800-374-9500 and confirming your eligible for this offer when you do as the fine print states it’s only for those who received the direct communication).

  • Receive a sign up bonus of 50,000 Citi ThankYou points, when you have an existing Citi ThankYou point account. Bonus broken down as follows:

citi typ offer

F.A.Q’s

Can The ThankYou Points Be Transferred To Travel Partners?

No, this is from the fine print:

“Taxable Points” are Points received for a Citibank checking relationship, Points obtained through activity unrelated to purchases made with your eligible Card Account, as well as bonus Points that may be awarded with no spend requirement. Taxable Points and Points made unavailable for redemption due to signs of fraud, abuse or suspicious activity on your ThankYou Account or due to your failure to make the required minimum payment on the Card Account by the payment due date are not eligible for Points Transfer. (HT to Anthony)

Do I Have To Pay Taxes On These Bonuses?

Legally all bank account bonuses are treated as interest and as such you should pay taxes on them. The real question most people want the answer to is, will Citi send out a 1099-INT form for these bonuses. You can read our more in depth answer to this question here.

What’s The Best Way To Fund With A Credit Card?

Funding online doesn’t work, you need to do it via phone or fax. Read our walk through here.

Can I Cancel My Citi Gold Account After Receiving the Miles/Points?

Yes you can, there is no early account termination fee or requirement to keep the account open after you’ve received the bonus.

Can I Use These The Citi ThankYou Points To Pay For Airfare?

Yes you can and if you have the Citi Prestige you’ll get 1.6¢ in value per point for American Airlines/US Airways flights. If you redeemed all 40,000 points for this you’d receive $640 in value which would put you over the $600 limit causing Citi to issue a 1099-MISC. This screenshot again supplied by Kenny from Miles4more shows he is able to use points earned from this bonus for that purpose.

TYP2_zpsyq52wprz

Which Is The Better Offer?

What’s worth more to you, 50k non transferable ThankYou points or 50k American Airline miles? Everybody will have a different answer and I cannot supply one for you.

Our Verdict

These are two amazing deals, especially when you also consider that having a Citi Gold checking account will lower the annual fee on the Citi Prestige by $100 (if you already have the card it will be prorated based on how long you’ve had the card for) and the fact you can fund a massive amount with a credit card. If you subscribe to our newsletter, you’ll also know that there is an additional reason to open this account (hint, it’s to do with credit card funding – please don’t spoil it in the comments).

These bonuses will be added to our best bank bonus list and also our complete listing of all bank account bonuses.

Hat tip to Frequent Miler & reddit.com/r/churning



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Joe
Joe

Is it necessary to have a Citi TYP earning card open in your name in order to earn the TYP? I need to avoid new card openings, but would otherwise plan to take advantage of this.

ChaseJuggler
ChaseJuggler

Yes it is.

chase
chase

I have a TYP account and a Citi Premier ty credit card. When I tried online and via telephone i was told that promotional code is specific to individual and can not request bonus. Any solutions? thanks

Matt
Matt

Almost seems too good to be true.

Just in the last couple months, it was reported here that Citi was cracking down on people redeeming the 30k AA promotion when they hadn’t been targeted. Hard to imagine Citi is now cool with non-targeted 50k redemptions.

If you proceed with this offer, make sure to document the promises of the bonus.

credit
credit

I am still waiting on my 40k ty points bonus. Should I ask them to match the 50k?

Also are the two bonuses considered different? Can I get the ty points close the shunt and six months later get the aa miles?

Jeff
Jeff

I tried to get them to match it, no dice.

Drew
Drew

Is it possible to receive the difference in checking account sign up bonuses if they increase recently since you applied? I know some banks will reward you the difference in points for credit card sign up bonuses if it increases within x amount of time after signing up for a card, but I just signed up for the CitiGold 40k TYP offer and now I really wish I held off a little longer for 10k more!

Robert
Robert

I am in the same boat with the 30,000 Aadvantage points (I still haven’t seen them yet, mind you). I would like to contact Citi and request the 50,000 instead. Anyone else doing this?

Maury
Maury

I was not targeted but signed up online and through internal chat I was confirmed that I am indeed eligible for the AA 50k offer if I meet the spend requirements.

Mike
Mike

I opened the Citi AA 50K signup bonus account last week. If I successfully negotiate the checking account bonus once I get the fresh credit account number, I’ll have run up almost 250,000 Aadvantage mile signup bonuses in the past 12 months, thanks to Citi and Barclay. I’m out of pocket $267US in fees and liquidation costs, and I haven’t burned any actual jet fuel. I feel nice. Real nice. Devaluation? Did I hear devaluation? What devaluation?

Victor
Victor

I applied for the 40K promotion and after waiting for three months I was denied. Here is the reason:
“We have carefully reviewed your account and, unfortunately, the requirements to receive Promotion WCTERY9FPS were not met.
Our records indicate that you have an existing checking account number ending with…, which was opened on June 10, 2014. Unfortunately this promotion was not available to existing Citibank customers.”
Can anyone shed some light if an appeal is in order. The account they are referring to is a student checking account from my college days.

Chuck

Is that other account still open?

Kent C
Kent C

I understand non-targeted people wanting to call to verify they are confirmed for a non-targeted offer, but IMO that’s not smart. If you are desperated for the points, then you shouldn’t be doing this. Do it for the credit card bonus and consider any TYP or AA miles as gravy. I think it’s safe to say if you have already applied for the checking account, calling in won’t solve anything. It’s not like they will take away the soft pull and cx systems inquiry at that point if you aren’t happy. Plus I think the likelihood they flag your account because you aren’t targeted is much higher if you make them look. For the last Citi offer which was 40k points, there are reports on this blog, not this post, of people calling in and being told they won’t receive the offer once they tried to confirm it. Like thanks for calling and yes we can determine now you weren’t targeted and will not receive the offer.

Personally I opened two Citigold accounts (wife and I), received the credit card bonuses with Barclay Arrival which is around $880 of value for us. If the 40k TYPs x 2 come in a few months then great. If not, I’m ok with that. I wasn’t entitled to it to begin with. Some have said they will complain if they don’t get them, these are non-targeted people saying this. Really?

jay
jay

Dont you have to wait for debit card to sign up for online access? How are people able to chat and send secure messages about their account? This is in relate to matching and confirming account bonus.

Maury
Maury

While I was signing up online, I was able to establish access to online account.

jay
jay

I guess i missed that opportunity. Bank login is different than cc login right?

Kent C
Kent C

So I thought. Signed up for the checking with new login then found out you can link your credit card accounts, mortgage, whatever to that checking account sign on. Not sure if that applies in reverse.

Kent C
Kent C

You can get a sign on immediately after approval, even before funding, before receiving a debit, checks.

cowboyguy
cowboyguy

Hi. I don’t have a Citibank credit card right now. If I want to apply for this promotion, which credit card offer do you think I should pursue?

Cowboyguy
Cowboyguy

Why no love for me, DOC readers? ;(

Chase
Chase

The Citi ThankYou Premier is pretty sick right now. 50,000 Thankyou Points for $3000 in spend in 3 months.

Cowboyguy
Cowboyguy

How would you compare that to the 50k AA platinum card after 3k spend, AF waived for the first year?

Jeff
Jeff

Yes it is waived for the first year as well. Do some independent research that takes about 2 minutes on google and it will answer your questions 100x as fast.

Chuck

Premier and Prestige are good options. If you’re a beginner, maybe the Preferred is a better option.

Paddy
Paddy

Hey could you provide more details on why funding with credit card online is not working?

Chuck
Rachit
Rachit

Hey!

I got 40k Ty points from the citi gold account and 70k from the credit card sign ups. I know it’s a fairly terribly redemption for a $1100 gift card but I really need it. Would I get a 1099 since it exceeds the 600$ threshold? Even though the points are combined into one account come from different sources

savemesf
savemesf

Lol, you are the first person on DoC to have actually received the 40K TY Points! Can you tell us when you opened the account, when you received the points and were you specifically targeted? Thanks

Rachit
Rachit

Hey!

I applied on 5/25…completed the requirements by 6/3…and got the points on 9/30.

Rachit
Rachit

Hi,

I wasn’t targeted, but I confirmed the promo after applying through a message. I applied on 5/.25 and got the points on 9/30

savemesf
savemesf

Thanks for the info. That is GREAT NEWS and very encouraging!

I think most people here are still waiting to see if they get the TY points at all and some of the recent comments have not been encouraging. Sounds like we should hang in there for at least 4 months after completing the requirements.

I am not recommending this, but if you need to monetize the TY points (at least the transferable ones), there are websites like rewards2cash that might be of interest. Search FlyerTalk for the latest info. GL.

Matt
Matt

You shouldn’t get a 1099 as far as I know, since credit card bonuses aren’t taxed and the bank portion of your gift card is below 600.

Jeff
Jeff

I took advantage of the last Citigold promotion and opened a checking account for TY Points. Still waiting on the points to post. Is it possible to “double-down” and open a savings account, too, to get more points?

Kent C
Kent C

Don’t think the TYP promo applies to savings, but if you are talking about credit card miles or points for funding a savings, that should work depending on the credit card/cash advance issues of your particular card of course.

RY
RY

I closed my Citi Gold checking account about 4 months ago. Can I take advantage of this offer? I can’t find anywhere in the T&C about this.

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