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

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teammjs
6/26/12 3:35 PM
c3 said:   

That was my first time having Citi bank accounts. My points were redeemed for Red Cross donations, so 100 points == $1.



So you specifically made a donation to the Red Cross using 40,000 TYP, for a declared value of $400, and Citi issued you a 1099-MISC for $800? Or was the donation technically undefined in value?

If they said it was worth $400 when you donated, that seems really weird you got a $800 value (although weird=Citibank's logic). I assume you just adjusted your 1040, since this seems absolutely a clear case of proving the 1099-MISC was over-inflated.
teammjs
7/7/12 11:15 PM
I f'ing hate Citi-- I don't know another bank that seems more screwed up in trying to open a checking account. They sucked in the past, and still suck.

OK, so my point, a few observations from family member 1 trying this that might help you folks-- keep in mind this member was targeted for the bonus.

1. Even after going to the offer.citibank.com and inputting the bonus (CYYL), the b*stards by some stupid default showed a regular checking account on the left for the lesser bonus. Knowing from previous aps Citibank will not allow an option to choose later, I realized this default was going to need to be dealt with in another way. So, I just went to the regular homepage, selected to open a Citigold checking account, which spit some other generic code by default. I altered the URL at the top to override the generic with CYYL, and hit refresh just to be safe. The CYYL code showed up, I continued, and the terms of the offer showed up to print later. Success.

2. The part where you can supposedly log-in to save time at the beginning of the ap process? Forget it if you just have a credit card and no banking/mortgage products. You just get spit out to a credit card sign-on page that doesn't retain your info, populate it, or allows you to apply for a banking product once logged in.

3. Even though you attempt to fund initially through another bank, I don't think that ever goes through! Instead, when you get account access (with a $0 balance), you can set up a transfer account and link from there to a place to fund.

4. Regarding #2, you probably want to do this than ACH push into Citi, because until you pass some long security phase with Citi, the trail deposits AND withdraw, may send your account negative since Citi won't recognize the availability of the deposit side, but will the withdraw. I will say at least Citi is fast with the set-up this way.

5. Don't forget you have to sign-up for Thank You Rewards as part of the offer. Technically, you may (by the wording) have to do this first before getting credit for the deposits/bill pay. Anyway, here's what you do: just go to the link once signed on to banking that says to register. Then wait several days. Don't try to go and look-up your TYP number at the TYP website. After some days, you'll then see a link to check points that will show you points and your TYP account number.

6. When you get your check and debit card, even if you don't plan to use, past memory was you better just make sure they're active or they could start getting pissy with your account/access.

7. I did send an SM once logged on to the account to verify the bonus, and got a fast response telling me my account is too new to confirm, but I should be able to add it later if necessary. He also gave me the routing number to try to get the DD requirement out of the way.

8. Finally, Citi would put most spy services to shame. If you're opening an account for a family member, better have them within proximity (or know every car they've driven in the last 10 years, age and location of their family, what state issued their SSN, etc.) because I had to enter different background challenge questions: 1) when applying, 2) when setting up my ACH pulls, and 3) when trying to pay a bill!

My guess is Citi is so disorganized it will probably be possible to get the bonus without the card, since it doesn't say the TYP has to be linked to your qualifying credit card, and in fact by default isn't. However, I know on the American Airline miles offers, they don't ever ask for your frequent flyer number, because it's in their system and gets linked later automatically through miracle of miracles.

Of course, maybe someone had better experiences.
drsauce
7/8/12 11:37 AM
teammjs said:   

I f'ing hate Citi-- I don't know another bank that seems more screwed up in trying to open a checking account. They sucked in the past, and still suck.

OK, so my point, a few observations from family member 1 trying this that might help you folks-- keep in mind this member was targeted for the bonus.

1. Even after going to the offer.citibank.com and inputting the bonus (CYYL), the b*stards by some stupid default showed a regular checking account on the left for the lesser bonus. Knowing from previous aps Citibank will not allow an option to choose later, I realized this default was going to need to be dealt with in another way. So, I just went to the regular homepage, selected to open a Citigold checking account, which spit some other generic code by default. I altered the URL at the top to override the generic with CYYL, and hit refresh just to be safe. The CYYL code showed up, I continued, and the terms of the offer showed up to print later. Success.

2. The part where you can supposedly log-in to save time at the beginning of the ap process? Forget it if you just have a credit card and no banking/mortgage products. You just get spit out to a credit card sign-on page that doesn't retain your info, populate it, or allows you to apply for a banking product once logged in.

3. Even though you attempt to fund initially through another bank, I don't think that ever goes through! Instead, when you get account access (with a $0 balance), you can set up a transfer account and link from there to a place to fund.

4. Regarding #2, you probably want to do this than ACH push into Citi, because until you pass some long security phase with Citi, the trail deposits AND withdraw, may send your account negative since Citi won't recognize the availability of the deposit side, but will the withdraw. I will say at least Citi is fast with the set-up this way.

5. Don't forget you have to sign-up for Thank You Rewards as part of the offer. Technically, you may (by the wording) have to do this first before getting credit for the deposits/bill pay. Anyway, here's what you do: just go to the link once signed on to banking that says to register. Then wait several days. Don't try to go and look-up your TYP number at the TYP website. After some days, you'll then see a link to check points that will show you points and your TYP account number.

6. When you get your check and debit card, even if you don't plan to use, past memory was you better just make sure they're active or they could start getting pissy with your account/access.

7. I did send an SM once logged on to the account to verify the bonus, and got a fast response telling me my account is too new to confirm, but I should be able to add it later if necessary. He also gave me the routing number to try to get the DD requirement out of the way.

8. Finally, Citi would put most spy services to shame. If you're opening an account for a family member, better have them within proximity (or know every car they've driven in the last 10 years, age and location of their family, what state issued their SSN, etc.) because I had to enter different background challenge questions: 1) when applying, 2) when setting up my ACH pulls, and 3) when trying to pay a bill!

My guess is Citi is so disorganized it will probably be possible to get the bonus without the card, since it doesn't say the TYP has to be linked to your qualifying credit card, and in fact by default isn't. However, I know on the American Airline miles offers, they don't ever ask for your frequent flyer number, because it's in their system and gets linked later automatically through miracle of miracles.

Of course, maybe someone had better experiences.



You information is much appreciated. Is it a good idea to combine credit card and checking Thank You Point accounts? Is there any issue (in terms of tax reporting, etc) with doing this?
teammjs
7/8/12 2:26 PM
drsauce said:   



You information is much appreciated. Is it a good idea to combine credit card and checking Thank You Point accounts? Is there any issue (in terms of tax reporting, etc) with doing this?



Thanks. Citi is so schizo and dumb with how their IT works, I know there's a lot of wordspray there, but I don't think you could intentionally design an account opening process worse if you wanted to.

I've wondered the same (i.e. do you have to have the checking linked since the offer went out to targeted TYP credit card holders). Their terms don't require it, but that may mean more calls and ulcers over a few months to get a manual override. I'm gambling it won't be required.

I can tell you, the TYP account that finally showed up was different than the credit card one-- so they didn't link by name/address. However, I don't think (based on my response) that there is any way to apply for the checking account after logging in as a known credit card holder.

I just think there may be more problems in blending the accounts, and their website isn't exactly clear which account would take precedent.

The tax issue is a great question as well. I think from what I've read any TYP's redeemed by credit card offers won't count against you for tax purposes, but I don't trust Citi and probably better to keep segregated under assumption a 40k=$400 gift cards redemption alone won't trigger the $600 threshhold for sending a 1099-MISC from the checking bonus.
EffeX
7/9/12 1:20 AM
Has anyone had any luck opening the gold account and then converting it to a student account after receiving the bonus?
skibum678
7/12/12 12:52 AM
Does citibank do a hard credit check for checking accounts or is it just a soft pull?
drsauce
7/12/12 6:09 AM
skibum678 said:   

Does citibank do a hard credit check for checking accounts or is it just a soft pull?



Hard pull
mjoply
7/12/12 9:37 AM
drsauce said:   

skibum678 said:   

Does citibank do a hard credit check for checking accounts or is it just a soft pull?



Hard pull



It was an inquiry on Chex Systems for me and nothing on any credit report.
skibum678
7/12/12 11:40 AM
Did u apply online, phone, or in branch? I heard hard, soft, and chex systems now? Just confused
mjoply
7/12/12 1:33 PM
skibum678 said:   

Did u apply online, phone, or in branch? I heard hard, soft, and chex systems now? Just confused



I opened a few online and two over the telephone.
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