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One of the best deals out there is the 100,000 mile offer for the Citi Executive AAdvantage, which I posted about earlier this month. I myself have gotten 3 of them (yes, that’s right, 3), and all three accounts are still open. You might wonder why I would keep all three cards when each one incurs a $450 fee. There’s a simple explanation.
After 30 days, Citi won’t prorate your annual fee if you close your account, and the minimum spend is $10,000, which will likely take most people longer than a month to charge. If you’ve paid the fee, you can do what I do, which is to call Citi and explain that you want to cancel, and you may receive some lucrative retention bonuses. I was offered 1,000 extra miles per month when I spend $1,000. That being the case, it made sense to hold onto the extra cards.
While both the annual fee of $450 and the minimum spend of $10,000 are high, the Citi Executive AAdvantage card comes with $200 in statement credits, so essentially you’re getting 100,000 AAdvantage miles for $250, which is a great deal no matter how you slice it. I value American Airlines AAdvantage Miles at 1.7 cents a piece, so this card provides at least $1900 in value for an expense of only $250. It also includes Admirals Club access, chip-signature technology, and no foreign transaction fees, so the true value could be much higher depending on how you feel about American Airlines lounges.
You don’t need to close existing cards to get the bonus; you can have multiple cards and multiple bonuses. However, this offer was on life support last week (and even disappeared briefly). I wouldn’t be surprised if it gets pulled for good, so if you’re interested, apply sooner rather than later. Some additional highlights of the card include Admirals Club access and No Foreign Transactions Fees.
There is a timeline that card applicants must abide when applying for Citi credit cards. If your most recent application for any Citi card is less than 8 days ago, you need to wait. Also, if your previous (second-to-last) Citi application is less than 65 days ago, you need to wait. These rules are not published or known by Citi CSRs, but rather are based on thousands of Citi card applications and datapoints from fellow points and miles enthusiasts.
Disclaimer: This card is not part of our affliliate program, and although the offer is not explicitly listed on the landing page, per this Flyertalk thread and from other discussions throughout the bloggosphere, I know that this offer is valid. If you do apply, please share your results in the comments below to help inform fellow readers.