Update 8/13/20: Deal is even better as it’s now 3% back instead of 2.5%.
Update 4/13/20: Deal is even better than before as you can now earn the citi checking bonus as well. E-mail subject line is ‘Special offer for <firstname> – earn 25% more Cash Back on your purchases through 4/30/21 + up to a $1,500 Cash Bonus with qualifying activities’. Hat tip to reader thomasthorn85
Update 1/14/20: Deal is back and the bonus 0.5% is now available through 4/30/21.
Update 7/20/19: More people targeted. Interestingly the bonus is only still good through 1/31/21
[Update: Readers note in the comments getting similar kinds of bonus offers on ThankYou cards like Premier and Prestige.]
The Offer
No direct link to offer, sent out via e-mail
- Citi has sent out an e-mail to some Citi double cash holders offering them 2.5% cash back (1.5% cash back when you buy and 1% cash back when you pay) until 1/31/2021 when they open a Citi Priority Banking package. This package includes the Citi Accelerate savings account that earns 1.85% APY.
- Others have a similar deal offering an additional 25% on Citi ThankYou cards
The Fine Print
- “Eligible Customers” are Citi Double Cash Cardmembers who (1) have a residential address for their Eligible Deposit Accounts in AL, AK, AZ, AR, CO, DE, GA, HI, ID, IN, IA, KS, KY, LA, OK, ME, MA, MI, MN, MO, MS, MT, NE, NH, NM, NC, ND, OH, OR, PA, RI, SC, SD, TN, TX, UT, VT, WA, WV, WI, WY, AA, AE, AP, AS, GU, MP, PR or VI, (2) have received a direct communication or advertisement from Citibank inviting them to participate in this Offer, (3) are at least eighteen (18) years of age, and (4) who provide required U.S. tax certification when opening new deposit accounts as further described below.
- A monthly service fee of $30 applies to the checking account in the Citi Priority Account Package if you do not maintain a combined average monthly balance of $50,000 or more in eligible linked deposit, retirement and investment accounts
- Between 4/18/2019 and 6/30/2019 (“Offer Period”), Eligible Customers must open a new consumer regular or interest checking account and a new consumer Citi Accelerate Savings account as an owner in The Citi Priority Account Package (“Eligible Deposit Accounts”) by clicking the “Apply Now” button on the promotional offer page for the Offer, and proceeding to open the Eligible Deposit Accounts on the linked account opening page.
- Between 4/18/2019 and 6/30/2019 (“Offer Period”), Eligible Customers must open a new consumer regular or interest checking account and a new consumer Citi Accelerate Savings account as an owner in The Citi Priority Account Package (“Eligible Deposit Accounts”) by clicking the “Apply Now” button on the promotional offer page for the Offer, and proceeding to open the Eligible Deposit Accounts on the linked account opening page.
Our Verdict
Keep in mind this also requires opening a checking account, this would make you ineligible for the Citi checking sign up bonus of up to $600. Most people would be much better off just sticking to that checking bonus, because to earn that $600 you’d need to spend $120,000. The high yield savings account is competitive, but there are higher interest accounts out there. Because of all that I wouldn’t recommend anybody actually do this deal.
Thanks to all the readers who sent this in
