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90,000 ThankYou Points with Citi Premier Card and CitiGold Checking

by on November 16, 2011 · 31 comments

in Citi, Credit Cards, Debit Cards

*update: Thankyou Premier card bonus has been reduced to 30,000 points and the CitiGold Checking is now just a cash rebate (plus Citi has started to 1099 the value of miles on checkings/savings accounts so I’d stay away from them).

Citi’s Thank You points program isn’t the most lucrative points program on the market (my main gripe is that you cannot transfer those points to any airlines or hotels), but the points are still valuable because they can be used to buy any airfare and hotel and they earn miles and elite status. You can also use points for gift cards at 1 points = 1 cent. Signing for for the Premier credit card and CitiGold checking account can net you up to 90,000 ThankYou points – enough for $1,197 in airfare/hotels!

The Citi Thank You Premier card offers 50,000 points when you spend $2,500 within 3 months and the $125 annual fee is waived the first year. 

Card Details:
Earning: 1.2 ThankYou Points for every dollar you spend on purchases at supermarkets, gas stations, drugstores and commuter transportation/parking merchants.
1 ThankYou Point for every dollar you spend on all other purchases.
Redeeming: 1 point = 1.33 cents towards travel, 1 cent towards gift cards
Anniversary bonus: 1-3% of the points you’ve earned that year
No foreign Transaction fees
Card: You can choose either Visa or Mastercard

So basically, those 50,000 points points can be used to get $500 in gift cards (including Sunoco) or $665 towards airfare – plus you earn miles and elite status on any flights/hotels booked with ThankYou Points.

To get an additional 40,000 ThankYou points without getting another inquiry on your credit or worrying about doing the “two browser” trick, you can open up a CitiGold Checking Account by 12/31/2011 and then enroll it in Citi ThankYou Rewards. Within 45 days after account opening, complete one direct deposit AND one electronic bill payment for two consecutive months. The minimum opening deposit is $500 and there is a $30 monthly fee unless you have either 1) $50,000 in all linked deposits/retirement accounts 2) $100,000 in all linked accounts including investment accounts 3) $250,000 or more including Citi mortgages.

Citi Gold Account Fees

You can continue earning ThankYou points by keeping your account open, but like most other checking accounts these days it’s not very lucrative. Starting December 9, 2011 Citi is instituting new rules towards earning points on checking accounts:
The max points earned a month from a CitiGold checking account is 1,350 (or $13.50 towards gift cards). Not great, but the 40,000 sign-up points can totally make this deal worthwhile!

While the 40,000 points aren’t as easy and quick as just getting a credit card, this is probably the most lucrative checking account bonus on the market and getting an account does not require a good credit score (they just run a soft inquiry to verify your identity).

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author.s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

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  • Maury

    I am currently working on netting that amount. I was told by Citibank that for the first two months you are not charged a fee.

  • Benthelefty

    What are you going to do w/ that account? I won’t have the 50k min balance nor will I want to pay the fee. Are you going to cancel after 2 free months? What’s your play here TPG?

  • Jam

    Just a huge word of warning: unlike credit card bonuses, this 40k amount for their checking/savings accounts will likely trigger a 1099-MISC from Citi at over-inflated value of the Thank You Points.

    There are a bunch of threads on Flyertalk about this happening in the past.

    Also, IMHO Citi is the absolute worst bank to deal with on getting everything lined up for an online checking account, from log-on to getting cards activated, to linking accounts, to improperly charging monthly fees, to having the bonus post promptly and automatically. I’ve dealt with several banks, and I wouldn’t do Citi for 25k points if all I had to do was have a balance of $1 with no fees.

  • Anonymous

    There’s no contract so if you decide this checking account doesn’t work for your financial needs you can cancel it at any time

  • AsherO

    1. Is there a credit pull for opening a CitiGold bank account?
    2. How soon can I close the Citi account without getting hit with an account closure fee?

  • AsherO

    1. Is there a credit pull for opening a CitiGold bank account?
    2. How soon can I close the Citi account without getting hit with an account closure fee?

  • Gpapadop

    IMHO, unless you have a 401k or a mortage with Cit, not worth the pain/1099 for the checking account due to the very high minimum balances. And it is likely Citi will hold off on posting the 40k for a long time & then have to fight them to get it. If you do have this much money parked, might as well keep it (like I do) or send it over to bankdirect where the AA miles get posted like clockwork once a month!

  • Mitch Cumstein

    Any updates on “Adios” miles?

  • Chris B.

    There’s some good info on it via milepoint today: http://milepoint.com/forums/threads/new-ba-avios-award-chart.22094/

  • econjon

    I did the citigold earlier this year for the 23,500 aa miles. Do you think I can do this offer as well?

  • Fx

    They have up to 90 days after the date of the statement when you meet the requirements till you get the points. The account has to be open and in good standing by then.

    This can add up to 5-6 months, which based on their fees costs $150-180. Makes the deal a lot less attractive.

  • Flazer

    How do “Citipoints” translate into American Airlines miles is it a 1 to 1 citipoints to AA miles?

  • Modernhaus

    Anyone with previous experience on how long they take to post the rewards? Per Fx comment below, they could take a few months to post and by then you’ve paid hundreds in monthly fees?

    Also, anyone positive that Paypal push counts as direct deposit for CitiBank these days? Last list compiled on this subject was in 2005. Current experience would be very helpful!

  • PJ

    citi is very clean on AA 75K ; tho very sloppy in telling if you were done with SPEND. again the 1099 shadow is not too pleasant. anybody can share experience on how the points get involved with IRS reporting ?

  • PJ

    no not convertabile

  • Nfhall02

    Are there any other savings account offers out there at the moment? I received an email from TD bank up to 25K to open a savings account.

  • Kay_jay

    If I apply citi Premier card and Chase Sapphire card on the same day, will just get 1 pull in my credit history?

  • Anonymous

    Nope-2 because it’s 2 different issuers and each will want to know your credit score

  • Howardfrenklin

    These points are a great buy. I’m in. Does anyone know if you can apply for a Citigold Business Checking for another 40,000 points (do they even have that)?

  • Benthelefty

    1. Just read the post :)
    2. Read my previous question :)

  • Sandreadis

    TPG, What are the limitations, restrictions or fees related to the annual companion ticket? Many companion deals aren’t worth the paper they’re printed on.

    Thanks

  • http://www.creditcards.org/article/frequent-flyers-taking-full-advantage-new-rewards-card-offers-.html Creditcard Editorial

    I travel all the time and I am always looking to max out my frequent flyer credit cards to get the most rewards I can!

    http://www.creditcards.org/article/frequent-flyers-taking-full-advantage-new-rewards-card-offers-.html

  • PJ

    if you have decent credit alrady you really dont care they pull one or two . I watch my credit score monthly on http://www.creditsesame.com it spits out the Experian score identical to Bank of America’s on the credit card decision letter..
    i did get two cards approved with Chase on the same day. not sure if chase will let you have more than 3 cards in a 6 months time span without escalating up to “supervisor” level. DO know decisions at Chase are very independent from those at amex and citi. I bet I can get another few cards from Citi Amex USbank after 4 cards from chase since Mid May.

    btw, I have close to 20 credit cards . However I carry only a few in my wallets . At least a new credit card to work on signon bonus ( one amex one visa/master card even better) always add on to my spending pleasure .

  • PJ

    25K on what ?

  • PJ

    for those gettting target letter to get about 100K on credit card of course the credit card looks like a good deal even after the tax implication

    DONT expect Citi can match that offer

  • Jessica

    I’ve had the card for several years and every time I try to book a companion flight, nothing is available. Maybe I’m choosing the wrong times/destinations, but I haven’t found it to be a benefit.

  • LACHAD

    I’ve had the card for 5 years and did this for the first time this year…I had to be pretty flexible with the time, but they found a flight on the days I wanted. From my understanding you can mimic which flights they will offer you for the companion ticket if you do your own search and find the lowest price fare…from what I’ve seen this is the flight they will offer you for companion…what sucks is even if there is another one that is just 1 penny more than the lowest price, they won’t allow it for the companion perk. Typically the lowest price fare is going to be the very early morning or redeye flight.

  • guest

    I just lost over 9,000 points because they were over 3 years old. They took them away the month before I tried to redeem them. They don’t bother to let you know they are about to expire your suppose to know how old points are as they accumulate. They will not give them back. Some THANK YOU. Good bye Citi Bank.

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  • Mega Screwed

    I just got stiffed by Citi ThankYou points. They did not inform that you had to redeem points within 60 days after you close the account. Lost 90,000 points. It is not Thank You IMHO, it appears to me to be “Screw YOU Points”….