Make sure you ask before trying to fund with a credit card. They told me that it would count as a cash advance.

glxpass said:UCLArocks said:Make sure you ask before trying to fund with a credit card. They told me that it would count as a cash advance.
Same here. While talking today with a credit card CSR, I was told that using my Citi CashReturns to fund a Citibank deposit account would be regarded as a cash advance.

Just spoke to Citibank rep and he told me that funding the Money Market account with the credit card is possible and it will post as debit, i.e. purchase. Only when a transaction involves using a PIN is it considered to be a cash advance. The rep was absolutely certain about that and based on his other responses to my questions sounded pretty trustworthy.

PitPirate said:aza455 said:glxpass said:UCLArocks said:Make sure you ask before trying to fund with a credit card. They told me that it would count as a cash advance.
Same here. While talking today with a credit card CSR, I was told that using my Citi CashReturns to fund a Citibank deposit account would be regarded as a cash advance.

Just spoke to Citibank rep and he told me that funding the Money Market account with the credit card is possible and it will post as debit, i.e. purchase. Only when a transaction involves using a PIN is it considered to be a cash advance. The rep was absolutely certain about that and based on his other responses to my questions sounded pretty trustworthy.

If I have an existing money market account, can I fund the account with an AMEX and have it be counted as a purchase? Anyone try this?

I tried that one, too... They don't take AMEX... Only MC and VISA.

fatweah said:By the way, for the $200 bonus, you have to be a new customer. I opened a checking account before and closed it. How do I know if I am a "new" customer or not?

In my case the personal banker who handled my phone app. asked if I currently have any accounts with CITI. I told her that I only have credit cards and was not sure if they count as "accounts". She said that credit cards do not disqualify me from the offer. Do they do any other verification beyond this -- I don't know. I don't think they can easily find a closed account, so I'd definitely give it a try.

cyberkost said:I don't think they can easily find a closed account, so I'd definitely give it a try.

I don't know if Citibank can/will - but some banks CAN easily find a closed account. I recently opened a BofA checking account and went into the branch with a question. When the employee looked up my account (I don't remember if he used my dl# or ss#) he asked if I was still at a certain address - which was the address I'd had when I'd closed a previous BofA checking account more than a year ago. And NOT the address I'd used when applying for my new account.

But I'm with you in that I'd still give it a try!

agentjfong said:mojoshtudd said:I don't get what you mean by "They just revert to regular Thank You points".

What's the difference between "regular" TY points and the points we get for the first six months? I don't think it matters where the TY points came from. As long as there are enough TY points in my account, I am able to redeem them for fixed point flights (done this twice so far).

This is the relevant section: 20,000 ThankYou Points will be awarded within 120 days from the date of satisfaction of offer terms. Customer must redeem points within six (6) months after receipt of written confirmation that the promotional qualifications have been met to receive one (1) round-trip airline ticket to anywhere in the continental U.S., valued at up to $400. Points required for this promotion are subject to increase after this time as provided in terms and conditions.

I think what this means is that (and maybe this is what you meant too): If you are redeeming the 20k points within 6 months of receiving them, they can redeem at the rate of up to $400/20k points. After this time is over, the maximum $ value of tickets you can buy with the 20k points can change.

Am I reading this right?

JohnMcLarty said:lhendricks92 said:OP, thanks for posting.

chevauchee said:20,000 ThankYou Points will be awarded within 120 days from the date of satisfaction of offer terms. Customer must redeem points within six (6) months after receipt of written confirmation that the promotional qualifications have been met to receive one (1) round-trip airline ticket to anywhere in the continental U.S., valued at up to $400.

6 months? How quickly do TY Points normally expire?
They just revert to regular Thank You points. In the 6 month window you are getting 2 time value. The deal I show is 40,000 TYP or 2 tickets up to $400ea. = $800 value if you don't buy the tickets within 6 month you just keep the 40,000 TYP to use as you wish.


I already have a Thank You Network account, and here's what it says already about getting airline tickets with the points I've been earning through my Citi mtvU credit card:


Citi Thank You Network said:

Fixed Point Option for Flights

Eligible ThankYou Members can also take advantage of our fixed point option for flights by calling our ThankYou Service Center. You can choose a domestic flight on virtually any airline for just 20,000* ThankYou Points, up to $400 in value. ThankYou Network has eliminated hassles like limited seat availability, black out dates, and advance booking requirements. And, if the ticket you want is over $400 in value, simply redeem 5,000 more points for every incremental $50 of ticket value. Other point prices apply for international destinations or for different classes of service. Please refer to ThankYou Terms and Conditions for a list of eligible ThankYou Members. Taxes and fees not included in fixed point tickets.

* Refers to value of Coach seat


Looks like there's nothing special about the airline ticket part of this promo. 20k TY points gets you an up-to-$400 ticket anytime you want.

The way I see it: for an advertising campaign, an airline ticket is just something more tangible to make for a better incentive than "20,000 Thank You points" of ambiguous value (without futher research/effort).

Not to mention it becomes tax free compared to cash bonus at the opening of an account.

jim55555 said:Re: Credit card funding

Did they send you a form to fax in with your credit card information? Or did you do it over the phone?

I previously opened my checking account for the 20k TYP promotion (and have only received half of them, but that's beside the point) with credit card funding on a Chase United MP Visa.

I would like to do the same toward my $25k this time.

Any experience with this offer?

No, they take your CC number over the phone.
Question: When you opened your cheking account using Chase Visa, did it post to your card as a purchase (as opposed to cash advance)?

jim55555 said:My previous opening of an account with the Chase Visa posted as a credit, no cash advance. One way to guarantee it won't be a cash advance is to charge an amount way over your cash advance limit.
http://www.fatwallet.com/forums/topic.php?catid=52&threadid=669313

Just called Citi. Used the CP76 code. I wanted to use that Chase Visa to open the Ultimate Savings account. I couldn't, because I have to fund all $25k from one source. My Chase CL is $10k. That is the highest non-AMEX, non-BT one I have. What to do? I hate to leave all those points/miles on the table. She did offer to use a debit card. My bank's debit card points are only 1/4 point/dollar.

Any other ideas? Try to get my Chase CL bumped up/reallocated? $10k-25k sounds like a big jump.

There's not an instant solution. If your total CL with Chase is above $25K you can go the reallocation/consolidation route. It would also help to know what you should be "eligible" for in terms of CLI based on you credit file. Of the big three VISA/MC issuers (CITI/Chase/BOA) I find BOA to be most generous/easiest with CLI/reallocations (but worst in terms of reward cards). If none of consolidation/reallocation/CLI is immediately applicable, your only choice seems to be in continuing to build your credit history and getting those large credit lines eventually.

It seems that I came to the party late and just in time from what I found on citibanks' website:

Direct Link:
http://citi.bridgetrack.com/a/c/?BT_BCID=129863&BT_SID=55559
http://citi.bridgetrack.com/a/c/?BT_BCID=129863&BT_SID=55559 (cut and paste, in case FW link doesn't work for you)

Citibank said:Get 2 round-trip airline tickets courtesy of Citibank
by redeeming 40,000 ThankYou Points.

Act now — offer ends March 31, 2008.
New to Citibank?
How to make it happen.

1. Open a Citibank regular checking account, link it to a new Citibank Ultimate Savings Account, and complete qualifying banking activities.*
2. Deposit $25,000 or more into your Citibank Ultimate Savings Account, fund your checking account with $1,000 and enroll it in ThankYou Network.
3. Get your 2 round-trip tickets to anywhere in the continental U.S. (up to a $400 value each) by redeeming your 40,000 ThankYou Points.

Apply Now > (link to apply online)
To apply by phone, call 1-888-214-0018 and mention code: CP74

We’ll send you an email to remind you to enroll in ThankYou Network once your checking account is opened.

*This offer is only available through www.citibank.com or via CitiPhone Banking®. To qualify for this offer you must make a minimum deposit of $25,000 into a new or existing Citibank® Ultimate Savings Account and open a new regular checking account with minimum $1,000 deposit in a Citibank Account, Citibank Everything Counts® or Citigold® relationship package. Accounts must be opened by 3/31/08. Accounts funded remotely via www.citibank.com or CitiPhone Banking® must be funded by 4/30/08 with funds not currently held at Citibank or its affiliates. Customer must within 60 days of account opening (1) enroll their new checking account in ThankYou® Network and (2) complete at least one direct deposit to, or at least two electronic bill payments from, the checking account each month for three consecutive months. Electronic bill payments are those made using Citibank® Online, Citi MobileSM or CitiPhone Banking®, excluding bill payments made to Citibank credit cards and transfer payments made to accounts with Citibank or its affiliates.

40,000 ThankYou Points will be awarded within 120 days from the date of satisfaction of offer terms. Customer must redeem points within six (6) months after receipt of written confirmation that promotional qualifications have been met to receive two (2) roundtrip airline tickets to anywhere in continental U.S. valued at up to $400 each. Points required for this promotion are subject to increase after this time. Points can be redeemed after this time as provided in terms and conditions. Tickets do not include applicable taxes, fees and surcharges which must be paid by customer at time of redemption. ThankYou enrollment and participation is subject to terms and conditions. Participation limited to United States ("U.S.") citizens or resident aliens with a valid U.S. taxpayer identification number. Customer is responsible for taxes, if any.

The Annual Percentage Yield (APY) for the Citibank® Ultimate Savings Account is 3.00%. APY is variable, current as of 3/11/2008 and is subject to change at any time. Fees could reduce earnings. Regular account charges apply. All accounts are subject to approval.

Offer can be modified or withdrawn at any time without notice, expires 3/31/08, is not transferable and cannot be combined with any other offer. Limit one offer per customer. Existing Citibank checking customers are not eligible. Consumer accounts only.

©2008 Citibank. Citibank, N.A. Member FDIC. Citibank, Citibank with Arc Design, Citibank Everything Counts, Citigold, ThankYou and CitiPhone Banking© are registered service marks of Citigroup Inc. Citi Mobile and Let’s Get It Done are service marks of Citigroup Inc.

mm04 said:Can I apply online through this link to get the bonus? There is no citi branch nearby. Or should I apply through phone call?

The email that was sent to me states this in the fine print. "* This offer is only available to individuals to whom this communication is addressed, and is only available through citibank.com or via CitiPhone Banking®"

Could you just overpay your credit card by 25,000? Then fund the account through that card? For instance, even if you have a $5,000 limit and prefund $25,000, the charge would go through, right?