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Citi to offer bonus miles in 2020 for those opening a digital savings account

Nov. 05, 2019
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3 min read
Citibank_NYC_20191017
Citi to offer bonus miles in 2020 for those opening a digital savings account
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Citigroup announced Monday that it plans to offer a high-interest online savings account to American Airlines co-branded credit card holders in early 2020.

According to CNBC, to encourage cardholders to enroll in "Citi Miles Ahead," the issuer will offer up to 50,000 bonus miles as a welcome bonus and a 25% boost on miles earned through the card (capped at $50,000). Based on current TPG valuations, that welcome bonus will be worth $700.

The new digital savings account will be exclusive to customers who both don't have a physical branch in their area and who also have either the American Airlines AAdvantage MileUp℠ Card card, the Citi® / AAdvantage® Platinum Select® World Elite Mastercard®, the CitiBusiness® / AAdvantage® Platinum Select® Mastercard® or the Citi® / AAdvantage® Executive World Elite Mastercard®.

The information for the Citi AAdvantage Platinum card and CitiBusiness AAdvantage Platinum card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

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In the past, Citi has run account promotions using either AA miles or ThankYou points as enticements. Earlier this year, the bank offered 40,000 bonus AAdvantage miles when cardholders opened up certain types of bank accounts with Citi. In order to be eligible for that offer (which expired at the end of July), cardholders had to be new-to-Citibank banking customers and had to deposit and retain $15,000 in their account for 60 days.

Since the new savings account promotion hasn't officially launched yet, information like the minimum bank deposit required to enroll has yet to be announced. However, if you're looking for 50,000 AAdvantage bonus miles now, the Citi / AAdvantage Executive card is offering exactly that after $5,000 in spending in the first 3 months for new cardholders.

The Citi Miles Ahead account will likely be similar to the existing Citi Accelerate account, minus the lower interest rate and slightly higher welcome bonus. Citi has yet to announce what the exact interest rate will be, but the 2% interest rate offered on the Citi Accelerate online savings account may hint at what we should expect. The bank also uses its state-by-state footprint to determine where the Citi Accelerate account is offered, so we may see the same pattern for this new offering.

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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  • No Foreign Transaction Fees.
  • Annual Fee is $325.
  • Terms Apply.
Apply for American Express® Gold Card
at American Express's secure site
Terms & restrictions apply. See rates & fees
Best for dining at restaurants

American Express® Gold Card

TPG Editor‘s Rating
4 / 5
Go to review

Rewards Rate

4XEarn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
4XEarn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
3XEarn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
2XEarn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
1XEarn 1X Membership Rewards® point per dollar spent on all other eligible purchases.

  • Intro Offer

    As High As 100,000 points. Find Out Your Offer.

  • Annual Fee

    $325

  • Recommended Credit

    Excellent to Good

Why We Chose It

There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)

Pros

  • 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
  • 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
  • Packed with credits foodies will enjoy
  • Solid welcome bonus

Cons

  • Not as useful for those living outside the U.S.
  • Some may have trouble using Uber and other dining credits
  • You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
  • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
  • Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
  • Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
  • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
  • Terms Apply.