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Citi 40,000 bonus points ($400 GC) for opening Gold checking

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rickt86
6/19/12 3:16 PM
Got in the mail today an offer, open Citi Gold Checking and get 40,000 bonus points. ($400 in gc)
Open Citibank checking 20,000 points (200$ in gc)
Open Citi Basic get 6,000 thank you points ($60)

Offer code is CYYL

Credited within 90 days. Open by 7/31/12 and within 45 days enrolled the account in Thank you rewards, complete one direct deposit and one qualifying bill pay for two consecutive month. Points come within 90 days of doing all the steps required. Reported to IRS as misc income form 1099-misc, if over $600 in the year total reward value.

Thats all the details from the one page targeted mailer.
WikiPost
6/19/12 3:16 PM
STEALfromCAGgive2FW
6/19/12 3:20 PM
Need $50k deposited for gold acct
rickt86
6/19/12 3:58 PM
STEALfromCAGgive2FW said:   

Need $50k deposited for gold acct



or else $30/month fee which is waived first two months if you link an account to it. Not sure details on that. I would like to know if i can close account after paid the points and redeemed.
imbatman
6/19/12 4:03 PM
be ware the 1099
dbl118
6/19/12 5:50 PM
Some data points.
Opened Dec. 18th (my offer was 50K pts). Kept balance low.
First $30 fee wasn't until May 1st for me. Got bonus on June 1st, but the extra delay was my fault for missing a slight detail in terms, but they agreed to give me the points.
Planning to close before the end of this month...was hoping a thank you points deal would come along (my last cashout was when gap giftcards were 50% off).... I plan to cash out before closing down just to be safe.
teammjs
6/19/12 8:17 PM
OP, did your offer state: "This offer is available to Citi cardmembers who receive this communication."?

I'm asking b/c my wife got one in the mail, and her's has that term. As info, here code was CYYK, and said to either call 866-583-6712 or go to offer.citibank.com. However, there is NO other unique ID code or anything on the offer.

In my opinion a real YMMV with Citi, since they are sometimes horrible at crediting bonuses and might use that clause to deny later.

But if anyone non-targeted wants to fish around and call or try online, knock yourselves out!
rickt86
6/19/12 8:52 PM
teammjs said:   

OP, did your offer state: "This offer is available to Citi cardmembers who receive this communication."?

I'm asking b/c my wife got one in the mail, and her's has that term. As info, here code was CYYK, and said to either call 866-583-6712 or go to offer.citibank.com. However, there is NO other unique ID code or anything on the offer.

In my opinion a real YMMV with Citi, since they are sometimes horrible at crediting bonuses and might use that clause to deny later.

But if anyone non-targeted wants to fish around and call or try online, knock yourselves out!



yes it says that
c3
6/19/12 8:54 PM
rickt86 said:   

Reported to IRS as misc income form 1099-misc, if over $600 in the year total reward value.



Citi isseued a 1099 of almost $800 for my 40,000 points.
teammjs
6/19/12 11:20 PM
c3 said:   

rickt86 said:   

Reported to IRS as misc income form 1099-misc, if over $600 in the year total reward value.



Citi isseued a 1099 of almost $800 for my 40,000 points.



Great point. It suggests the 20k point offer is the best way to go, assuming the $400 "worth" of TYP (at 2 cents/point by Citi's valuation) is the better choice considering little chance of getting a 1099-MISC at that level.

My wife got hit by these bastards last year for a $1k 1099-MISC for 40k AA miles. Had been getting 20k fairly regularly for years between us before that, and that never triggered a 1099-MISC.
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