Posted by William Charles on August 8, 2019
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Published on August 8th, 2019 | by William Charles

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[Targeted] Citibank 30,000 American Airline Miles Business Checking Bonus

Update 8/8/19: Deal available again and valid through September 30th, 2019. Hat tip to reader Lo

Offer at a glance

  • Maximum bonus amount: 30,000 American Airline miles
  • Availability: In branch only [Branch locator]
  • Direct deposit required: None
  • Additional requirements: Deposit $5,000 and maintain for 60 days
  • Hard/soft pull:  Soft pull
  • ChexSystems: Unknown
  • Credit card funding: None
  • Monthly fees: $15, avoidable
  • Early account termination fee: None
  • Household limit: None
  • Expiration date: June 30th, 2019

The Offer

No direct link to offer, sent out in the mail

  • Citi is offering a bonus of 30,000 American Airline miles when you open a new CitiBusiness checking account and complete the following requirements:
    • Deposit $5,000 in new to citibank funds and maintain for 60 consecutive days

 

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The easiest account to keep fee free is the CitiBusiness®Streamlined Checking Account, this has a monthly fee of $15 and is waived have an average monthly balance of $5,000 or more.

Early Account Termination Fee

There is no early account termination fee to worry about.

Our Verdict

Rare to see a business checking bonus from Citi, they last offered one in late 2017. This offer is easy to meet the requirements for, basically just deposit $5,000 and maintain it for 60 days. That’s also enough to keep the account fee free as well. Should be possible to close the account as soon as the bonus posts, but double check the fine print on your offer. It’s a shame this is targeted as if it wasn’t I’d be adding this to the best business checking bonuses.

Hat tip to 521928

Useful posts regarding bank bonuses:



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Abey
Abey

William Charles do you know how they send you the miles of thru don’t ask for aa account number?

Ryan
Ryan

If anyone is willing to share the code…

clow
clow

Would they 1099 for $300?

D.
D.

Curious about this as well. Anyone know?

Jieyu
Jieyu

In the fine print, it does say so

Sam
Sam

If we stop by a branch but “forget” the mailer.. do you think they would honor?

Yet Another Redditor
Yet Another Redditor

I see a mailer for this in my Informed Delivery today.. We are not home this weekend but will be able to upload a better scan tomorrow.. and try this out next week.

Yet Another Redditor
Yet Another Redditor

Better scan of this offer https://imgur.com/a/CEaUPtv

Tzvi
Tzvi

Do you need a real business to open a business checking account or is it like opening a business credit card?

Hi
Hi

Yes

Nate8
Nate8

Opened in branch and confirmed eligibility. It’s been 70 days since the deposit cleared and still no bonus yet…

Lo
Lo

Received a mailer for this offer today. Good through 9/30/19.

Edit to add: Seems like they targeted AA biz cardholders. Small print near the middle of the page references mine.

Ian
Ian

there’s no code on the mailer, how do you even sign up if you go to a branch?

Nate8
Nate8

BEWARE, I regret doing this. A $5,000 deposit won’t work – they don’t waive the first month’s fee and they calculate the balance on the first day of the month that you opened your account (even if it’s before you opened your account). Even though they’ll refund the $15 fee if you beg them, it invalidates the offer. Awful.

ian
ian

what the hell? CFPB them

but still, why wouldn’t you pay $15 for 30k aa miles?

Nate8
Nate8

No, the whole point is they will not award the 30k points because the $15 fee brought the balance below $5k. Unbelievably awful way to erode customer goodwill.

Nate8
Nate8

By the way, this took 90 minutes to open in branch… All for nothing.

Jason
Jason

And they’re going to report the miles as 1099 income. So figure you’re buying 30k AA miles for ~$90 (assuming 1 cpp reported). Doesn’t seem great even if you do get the miles.

Mike Anderson
Mike Anderson

I went into the branch (I was not targeted so I just asked for it). They said they only had a bonus offer of $200 for a $5k deposit. Bigger cash bonuses for bigger deposits. The guy said he couldn’t find an AA points offer.

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