When you applied for your new Citibank checking account, you identified the special offer code of C27A to receive 25,000 ThankYou® bonus points for a Citibank Account or 30,000 ThankYou bonus points for a Citigold® Account. Below are the terms and conditions that you must meet in order to obtain the benefits of this special offer.
Terms and Conditions:
This offer is available to Citi® credit cardmembers who receive this communication. Offer is not valid for existing Citibank checking customers. One offer per customer only. All accounts subject to approval and applicable terms and fees. Persons under 18 years of age are not eligible. Offer may be modified or withdrawn at any time without notice, is not transferable, and cannot be combined with any other offer. Separate enrollment of eligible checking account in ThankYou Rewards required. ThankYou Rewards enrollment and participation are subject to terms, conditions and restrictions. Participation limited to United States ("U.S.") citizens or resident aliens with a valid U.S. taxpayer identification number. The bonus will be reported to the IRS as miscellaneous income on Form1099-MISC, as required by applicable law. Customer responsible for any taxes. Monthly points for checking account relationship require customer to initiate minimum of one credit or debit to the account per statement cycle.
To qualify for the 25,000 ThankYou Points offer, first open a new regular account in The Citibank Account or, to qualify for the 30,000 ThankYou Points offer, first open a new regular checking account in a Citigold account package by 7/31/11, and enroll it in Citi® ThankYou Rewards. Then, for either offer, within 45 days of account opening, you must begin performing at least one direct deposit to, or at least two electronic bill payments from the checking account each month for two consecutive months. Electronic bill payments are those you make using Citibank® Online, Citi Mobile® or CitiPhone Banking®. A bill that is paid by making a transfer between linked accounts does not qualify as a bill payment for this offer.
The bonus ThankYou Points will be credited to your ThankYou Member Account within 90 days from the end of the statement period in which you met qualifying requirements stated in this offer. Your Citibank checking account in and Citi® credit card account must be open and in good standing at the time the bonus ThankYou Points are posted to your ThankYou Account.
Checking accounts are offered by Citibank, N.A., an affiliate of Citibank (South Dakota), N.A., the bank that issues your credit card.
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posted: Jun. 14, 2011 @ 3:06p
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Sorry I'm posting my question to this thread too: Does anyone have experience on whether one can make a bill payment to ... (more)
comegetme (Jan. 26, 2012 @ 4:53p)
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Just because I believe in giving credit where credit is due, and blame when it's appropriate I wanted to update this thread.... (more)
CreakyWallet (Jan. 27, 2012 @ 9:39a)
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You can't make two bill payments a month for Phone, Cable, Electic, Car Payment, Insurance, or Credit Cards?
Not that difficult... (more)
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qwerty12345otron
Senior Member
posted: Jun. 14, 2011 @ 5:58p
Just as a word of caution. Some users both here and on FT have reported receiving 1099-INT for the bonus points to the tune of >$1000, which would negate any gift cards that could be purchased with the 30k points. Just an FYI, as I know others have been very surprised in the past.
FootInMouth
Thrifty Member
posted: Jun. 14, 2011 @ 6:28p
Citi said: This offer is available to Citi® credit cardmembers who receive this communication.
bad107
Senior Member
posted: Jun. 14, 2011 @ 6:29p
I have gotten several hundred thousand bonus points each year from CC and never got a 1099
LifeAsISeeIt
Tired Member
posted: Jun. 14, 2011 @ 6:42p
bad107 said: I have gotten several hundred thousand bonus points each year from CC and never got a 1099
If CC is referring to credit cards, those are normally treated differently than checking accounts re: taxes. The former is not considered taxable while the latter is.
The 1099's are usually tied to Checking/Savings account offers. Instead of interest on your deposits they're listed as a form of interest payments by Citi/Chase. CC points are exempt, even from the same financial institutions.
It is important to know this will likely come with a tax liability. For most it won't make a difference, but for some it could.
user3657
Senior Member
posted: Jun. 14, 2011 @ 7:29p
What can you get with 25k points?
89transam
Senior Member
posted: Jun. 14, 2011 @ 8:38p
I got a 1099 in 2009 for some CHECKING ACCOUNT bonus points from Citibank. Citibank claimed they were worth $2400 .... I would caution against this deal.
chimeer
Cranky Member
posted: Jun. 14, 2011 @ 8:47p
89transam said: I got a 1099 in 2009 for some CHECKING ACCOUNT bonus points from Citibank. Citibank claimed they were worth $2400 .... I would caution against this deal.
Care to offer some more details like about how many points you got that resulted in a 1099 for $2400?
89transam
Senior Member
posted: Jun. 14, 2011 @ 8:53p
I'm not really sure to be honest. Seems like it was a pretty similar deal to this...something around 50K points total for a checking / savings account sometime in 2008. Cashed them out in early 2009.
I would have disputed the high number ($2,400) but I was alerted to this 2009 1099-MISC fairly recently (from the IRS). I did not want to mess around so I just paid what the IRS said I owed.
rlaw
Broke Member
posted: Jun. 14, 2011 @ 9:24p
user3657 said: What can you get with 25k points?
As of 6/14/2011
Value - Points - Value/Points
Cash
$50 - 8000 - 0.00625 dollars/point
Statement Credit to Citi CC
* - dollars/point ratio decreases from previous option
Every now and then $100/10000 WalMart, Home Depot, and Lowe's Cards show up, but they sell out fast.
alanmax
Senior Member - 1K
posted: Jun. 14, 2011 @ 9:40p
Anyone know the min. monthly bal. required each month to avoid fees, also what is the min. opening balance required too?
Thanks.
rlaw
Broke Member
posted: Jun. 14, 2011 @ 10:05p
alanmax said: Anyone know the min. monthly bal. required each month to avoid fees, also what is the min. opening balance required too?
Thanks.
$6000 - The Citibank Account
$50000 - Citigold
Minimum Balances with Citi is spread across all accounts, so having a $1000 CD, $2000 Checking and $3000 Savings is enough for The Citibank Account. Ideally you would also get additional points each statement
100-800 with Citibank Account or 150-1200 with Citigold
You can get these extra points by adding additonal Citi products like Direct Deposit, CD, Savings Account, Online Billpay...
I'm pretty sure they will issue 1099s, and from the past experience it will be based on the redemption's value: i.e. when you redeem 10,000 TYPs for $100 GC - you'd get $100 tax liability.
When redeemed for travel tax will probably be dollar for dollar.
High tax bills people remember from 2009 and earlier were due to fixed cost ticket redemption (1:3, 1:2), that's long gone.
Unlike AA miles like valued by Citi at 2.5 cents, TYPs should not exceed 1c per TYP for tax liability.
ryandean
Member
posted: Jun. 16, 2011 @ 10:39a
89transam said: I got a 1099 in 2009 for some CHECKING ACCOUNT bonus points from Citibank. Citibank claimed they were worth $2400 .... I would caution against this deal.
That's really shitty of them to do that to you. Is that not tax fraud on their part? They are taking the write-off for $2,400 when the points cost them maybe $500. I'm sure they don't even pay face value for the gift cards either. I signed up for the 40k bonus points offer for Checking and Savings accounts the end of last year but the points posted this year. We'll see what happens. How do you go about disputing a 1099?
BrlDsguise
Frivolous Member
posted: Jun. 16, 2011 @ 12:00p
ryandean said: 89transam said: I got a 1099 in 2009 for some CHECKING ACCOUNT bonus points from Citibank. Citibank claimed they were worth $2400 .... I would caution against this deal.
That's really shitty of them to do that to you. Is that not tax fraud on their part? They are taking the write-off for $2,400 when the points cost them maybe $500. I'm sure they don't even pay face value for the gift cards either. I signed up for the 40k bonus points offer for Checking and Savings accounts the end of last year but the points posted this year. We'll see what happens. How do you go about disputing a 1099?
They can't take a tax write-off for any more than the reward cost them.
tjguitar85
Senior Member
posted: Jul. 23, 2011 @ 3:37p
I set it up today. The banker even set up so I can use my Citibank CC's as the two bills for bill pay. You have to set it up through bill pay rather than click the pay button on the main page.
I set this up just for the promo but I might actually use it longer, the billpay looks powerful and the various linked functions that provide bonus TY points (Direct deposit, bill pay, CD) make me come ahead from my 1% acct at Alliant.
oumazdamx6
Member
posted: Jul. 25, 2011 @ 9:18p
I got the same offer in my Citi CC statement today. Offer code C25C good until 8/31/11. For those of you that took advantage of the offer, does Citibank allow funding by Credit Card? I was going to fund fia Schwab CC?
tjguitar85
Senior Member
posted: Jul. 26, 2011 @ 9:53a
oumazdamx6 said: I got the same offer in my Citi CC statement today. Offer code C25C good until 8/31/11. For those of you that took advantage of the offer, does Citibank allow funding by Credit Card? I was going to fund fia Schwab CC?
I wouldn't risk it with Citibank.
I just did $100 cash. I'll ACH the rest over before the monthly fee hits.
For anyone who did this offer ebfore, did it take a while for the checking account to show up on the ThankYou site?
bad107
Senior Member
posted: Aug. 17, 2011 @ 11:30a
anyone get this yet?
garage4sale
New Member
posted: Aug. 23, 2011 @ 5:55p
I have a question for those of you with Citibank checking accounts. How many ThankYou points do you earn each month from your checking account and related services? According to their site (https://online.citibank.com/JRS/popups/rrcalc/calc.html), if you have 3 combined products and services, you should get 100 points each month.
I have a Citi EZ checking account, which I guess they renamed "The Citibank Account". I've been getting only 75 points each month. Shouldn't I be getting 100 points a month? Anyone else experiencing this?
LtWaldo
Loyal Member
posted: Aug. 27, 2011 @ 5:11a
Just some datapoints: 07/08 Used C27A code to open account 07/12 - funding transfers hit account Did EverBank and Amazon Payments ACH push in 07/23 - 1st statement close More EverBank ACH pushes of $750+ 08/23 - 2nd statement close Messaged Citibank CS using web form, received message below: Our records confirm that you have qualified for promotion C27A. Please allow a total of 90 days from the end of the statement period in which the terms were met in order for the promotion to be fulfilled. With this in mind, it is expected that your promotion should be fulfilled no later than 11/23/2011.
Is there anyway to expedite this? I've emailed them again, asking. I have liquidity issues and want to move the money out, but I don't want to be hit with the $20 fee for being below $6k.
bankdealsrule
Senior Member
posted: Aug. 27, 2011 @ 12:54p
garage4sale said: I have a Citi EZ checking account, which I guess they renamed "The Citibank Account". I've been getting only 75 points each month. Shouldn't I be getting 100 points a month? Anyone else experiencing this?They changed the Thank You Rewards terms for checking accounts enrolled after June 10, 2011: for EZ Checking: 50 points for 3 qualifying bank products and services; 75 for 4; 150 for 5. Not sure how you got 75.
LtWaldo said: Is there anyway to expedite this? I've emailed them again, asking. I have liquidity issues and want to move the money out, but I don't want to be hit with the $20 fee for being below $6k.Unfortunately, opening The Citibank Account, which requires a $6k combined average balance to avoid monthly fee, under this promotion requires at least ~5 months to satisfy the offer to get 25k in TY points. You had to figure that you will keep $6k sitting and doing nothing at Citi for ~5months to get the 25k TY points. You'll have to determine if the $20 monthly fee(s) is worth the promised 25k TY points. You could ask your local Citi banker if sooner is possible.
LtWaldo
Loyal Member
posted: Aug. 28, 2011 @ 10:00a
The Citi CS said there was no way they could expedite it. I'm guessing it's an automatic system and I hope the TY points hit before 11/23!!
arun247
New Member
posted: Aug. 28, 2011 @ 11:39a
Did anyone who didnt get communication of this offer qualify for this promotion?
LtWaldo
Loyal Member
posted: Aug. 28, 2011 @ 12:02p
I didn't get communication of this offer and I "qualified", according to Citi CS.
LtWaldo
Loyal Member
posted: Aug. 30, 2011 @ 9:30a
Have anyone received their points? Did the bonus points post at exactly 90 days after the 2nd statement, or how much earlier? I'm just trying to gauge how long I'll have to wait.
bad107
Senior Member
posted: Sep. 7, 2011 @ 8:53a
I still have not received my points. I opened my account on June 17
biomedeng
Senior Member - 1K
posted: Sep. 10, 2011 @ 9:50p
Offer code appears to be no longer valid.
LtWaldo
Loyal Member
posted: Dec. 3, 2011 @ 10:20p
update: received points on 11/23, only after bugging them with an online message. So to confirm, it takes 5 months (from the end of your 1st statement to receive points).
oumazdamx6
Member
posted: Dec. 4, 2011 @ 12:32a
I opened 7/25/11 and have yet to receive my points. Hopefully I get the points at the end of the month like the previous post. I've satisfied the requirements with my August and September statements and only paid one $20 Fee so far (November). Hopefully this helps anyone in a similiar situation.
JhakaasDesi
Enthusiastic Member
posted: Dec. 30, 2011 @ 7:17p
Is there anyone who got the points after doing an ACH push from a different account? I did those pushes from my chase account.
I called them today and a rep said I should have done direct deposit from my employer to get those reward points.
CreakyWallet
New Member
posted: Jan. 26, 2012 @ 9:32a
Just curious to know if anyone else had problems with this bonus. I've done bonuses from Citibank before with little to no trouble, but this one has been difficult. I did the bill pay transactions to qualify for the offer, then when Citibank changed their account policies and raised the minimum limit to avoid a fee I had a decision to make. I decided that the money was better off in a rewards checking account than in the Ciitibank account earning no interest to avoid the monthly fee. So I sent a (nice) email to Citibank and told them that in light of the changes in policy I wanted to verify that I qualified for the offer. They wrote back and said that I did. Then 90 days after the statement closing period I did an online chat and they said I should see the 25,000 thank you points by 1/22. Then yesterday I did another online chat because I had not received the points.
At that point the online rep asked if I had received promotions from Citibank before. I told him I had, and he told me that precluded me from ever receiving a Citibank promotion again. I explained that I had twice verified in writing that I qualified, but he told me those people were mistaken. He filed a "report" on the issue and told me I should receive a response within 30 days. He also put a fee waiver on my account for 60 days so that I would not have to pay monthly maintenance fees while this gets sorted out. Have any of you experienced anything like this in the past?
maddybeagle
Dismembered Member
posted: Jan. 26, 2012 @ 11:25a
Lot's of people have had problems in the past getting Citibank checking to pay bonuses....if the promo says for "new customers"= never had a checking account with them. I think you have a good chance if you are targeted (got a promo from one of my credit cards) that does not have that language. Good luck.
comegetme
New Member
posted: Jan. 26, 2012 @ 4:53p
Sorry I'm posting my question to this thread too: Does anyone have experience on whether one can make a bill payment to oneself to fulfill the bill payment requirement?
CreakyWallet
New Member
posted: Jan. 27, 2012 @ 9:39a
Just because I believe in giving credit where credit is due, and blame when it's appropriate I wanted to update this thread. I received the below response from Citi, which was pretty quick and in my opinion the right decision"
"Recently, you contacted Citibank regarding your participating in Promotion C27A, which offered 25,000 ThankYou Points. We appreciate your patience while waiting for our response.
You have met the terms and conditions for the promotion, and a credit in the amount of 25,000 ThankYou Points has been processed to your account today in fulfillment of this offer. Please allow up to thirty days, or one statement period, for the ThankYou Points to reflect on your ThankYou Member account."
So it took a couple of emails, but Citibank did fulfill the terms of their offer (other than that I could be waiting 120 days for the bonus versus the 90 they promised, but that's a minor quible in light of getting $250 or so for essentially no work.)
BrlDsguise
Frivolous Member
posted: Jan. 27, 2012 @ 11:44a
comegetme said: Sorry I'm posting my question to this thread too: Does anyone have experience on whether one can make a bill payment to oneself to fulfill the bill payment requirement?
You can't make two bill payments a month for Phone, Cable, Electic, Car Payment, Insurance, or Credit Cards?
Not that difficult a requirement to have to go looking to work around it.
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