Update: Looks like this is in a pilot program now. Reader @jonathonleguen was offered the following:
It looks like if you deposit $10,000 or more then you’ll get an additional 25% more miles on your card for the first $50,000 spent per year. In addition you get the followign:
- Deposit $10,000-$49,999.99 and get 1.01% APY and 20,000 bonus miles
- Deposit $50,000-$199,999.99 and get 1.25% APY and 40,000 bonus miles
- Deposit $200,000+ and get 1.5% APY and 50,000 bonus miles
Original post: Citibank plans to launch a high-interest online savings account called Citi Miles Ahead for their American Airlines credit cardholders. (CNBC)
- Exact interest rate unknown, but it’s being presented as a high interest account.
- Earn up to 50,000 American miles for signing up (presumably this will be tiered with high deposits earning 50k and lower deposits earning lower amounts).
- 25% boost on miles earned through the credit card (capped at the first $50,000 spent).
- Account will only be available in areas outside of Citi’s physical footprint.
- Account is only for Citi American Airlines credit cardholders.
We’ve known that Citi wants to launch a national digital bank, and they’ve already launched their Citi Accelerate savings account which offers competitive interest rates. The Citi Miles Ahead savings account sounds like it’ll be similar, but with special perks targeting American Airlines users.
