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Update: Citi is also offering a similar promotion that awards up to 50,000 AAdvantage miles when you open a checking account using offer code 42ERCWNQU6. You can see the terms of that promotion here.

Update 2: A reader wrote in to share his experience opening an account to receive the 50,000 bonus AAdvantage miles. If you’re not prompted to enter your AAdvantage number when you open the account, send Citi a secure message with your info. Also, while that particular offer requires that you make $1,000 in debit card purchases within 60 days of account opening, note that you can’t request a debit card until the account has been opened for 30 days. This doesn’t apply to the original offer for 50,000 ThankYou points, which is outlined below.

Banks often offer incentives for opening up a new account (typically with a minimum funding requirement as well). Usually you’ll have an opportunity to score some bonus cash, but occasionally you can get rewards points instead, as is the case with Citi’s latest offer. Through December 31, Citi is offering up to 50,000 ThankYou points when you open a checking account using offer code 42ERCZ42PY.

Additionally, according to Citi’s terms, within 60 days after account opening, one qualifying bill payment must be posted to the new checking account each month for two consecutive calendar months. Technically this is a targeted offer, though I was able to pull up the application even though I didn’t receive an email. Officially, these ThankYou points cannot be transferred, though they can be redeemed for gift cards, with each point equivalent to 1 cent of value.

Citi's checking account lineup.
Citi’s checking account lineup.

You’ll need to open a Citigold account to earn the full 50,000 points. Unfortunately, Citigold accounts come along with a $30 monthly fee, unless you meet the following requirements:

  • Maintain a combined average monthly balance of $50,000 or more in eligible linked deposit and retirement balances for the prior calendar month.
  • Maintain a combined average monthly balance of $100,000 or more in eligible linked deposits, retirement balances, and investments for the prior calendar month.

Now, once you start building up your retirement accounts, the first requirement shouldn’t be too difficult to meet, though you do of course need to have your retirement accounts with Citi. Note that Citigold customers can get $100 off the Citi Prestige annual fee. Or, you can opt for a Citibank checking account (20,000 bonus points) or a Basic Banking account (10,000 points), instead. Citibank checking accounts come along with a $25 monthly fee, while Basic Banking accounts have a $12 monthly fee, unless you meet balance requirements.

H/T: FrequentMiler

Citi Prestige® Card

While Citi announced some negative changes to this card back in July — including a lower sign-up bonus, the elimination of Admirals Club access and the end of the free rounds of golf benefit — one of its most valuable perks still remains, which is the 4th Night Free perk.  This benefit alone can save you thousands of dollars a year if you use it to its full advantage.

Read more:

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More Things to Know
  • $250 Air Travel Credit each year, and receive a statement credit, up to $100 every 5 years, as reimbursement for your application fee for Global Entry or TSA Pre √®
  • 4th night hotel benefit for any hotel stay at hotels booked through the Citi Prestige® Concierge
  • Earn 40,000 bonus points after $4,000 in purchases made with your card in the first 3 months the account is open.
  • Points are redeemable for a $532 flight on any airline or $400 in gift cards.
  • Transfer points to a variety of travel loyalty programs from airlines to hotels.
  • Earn 3x points on Air Travel and Hotels
  • Earn 2x points on Dining at Restaurants and Entertainment
  • 1 ThankYou® Point per $1 spent on other purchases
Intro APR on Purchases
Regular APR
15.74%* (Variable)
Annual Fee
Balance Transfer Fee
Recommended Credit
Excellent Credit

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