dragoon976,
11:38 p.m. Sept. 29: I logged in and opened USA.
Sept. 30: nothing via TC for me.
Sept 30: Hubbie logged in & opened USA.
Oct 1: Hubbie pulled CS via AMEX and a hard showed up for him. Same day, I checked mine with TC and a hard showed for TU. Please update if nothing shows up for you, I'l have to call them!

Citi has repeatedly told me that they don't do a hard inquiry for opening deposit accounts with them. I was recently told that they just use ChexSystems and Equifax (for identity checking only). So, I'd expect to a soft credit inquiry on Equifax. Now if you were also getting a credit type of product such as overdraft protection, that would incur a hard credit inquiry. My wife's checking account and my checking account were opened by phone. Usually we've opened the USA and UMA by phone, although one of those accounts was opened on-line. Neither my wife nor I have had a hard credit inquiry from Citi for opening these deposit accounts.

If you've incurred a hard credit inquiry, I recommend calling Citibank (perhaps their new accounts department), verifying their no hard credit inquiry policy for applying for deposit accounts, and if that's confirmed, tell them what happened and request they contact the appropriate credit bureau to have the hard credit inquiry removed.

I don't see why the 3.5% wouldn't apply to existing accounts...it's not like the 3.5% USA is a promotion or anything. The 3.5% rate is already updated in their rates list.

I would agree that everyone including existing accounts will get the same new rate. I looked at their web site, and found nowhere mentioned that only new accounts would enjoy the new rate.

I would guess the CSR is clueless. Citi changed the APR many times before and everyone got the same APR on the same type of account.

This has been USUALLY the case, unless citibank invents a totally new savings account, then everyone inherits the new rate. (higher or lower)

It's fine and well to say that this is how it usually is, how it should be, and how we'd like it to be, but has a SINGLE current-account-holder actually confirmed that they are getting the new rate? I keep calling to verify the rate, and keep finding out that I am getting the old rate of 2.25%. Just called again today (have spoken to 4 people now) and my rate is unchanged.

I spoke to a "personal banker" and was told that the rate should have increased in real time as the new rate was announced, but that, in a worst-case scenario, it will increase by the time your statement cycles. This, to me, is ridiculous, as it means, assuming that they do raise the interest rate for old account holders, it might take them up to a month to do so!

My wife and I just received e-mails for our Ultimate Savings Accounts. An excerpt:

Great news! Your Ultimate Savings Account now features a 3.50% APY. Now is the right time to deposit even more funds and get a great return on your money. Plus, enjoy the security you’ve come to expect from an FDIC insured account.

And:

*Annual Percentage Yield (APY) is accurate as of 09/30/08 and is subject to change without notice. Rates may change after the account is opened and fees could reduce earnings. As of 10/04/08, new accounts require a minimum initial deposit of $100.

This confirms that already-existing USAs received the 3.50% APY when it became effective on 9/30.

cameron2003 said:What's this about standalone? "2 No monthly maintenance fee applies when held as a stand-alone account in the Citibank Account relationship package. Does that mean you can't have another account? I already have the monety market account at 3%.
I would think it would mean not linked to a checking account, but not positive on that.

Glitch99 said:cameron2003 said:What's this about standalone? "2 No monthly maintenance fee applies when held as a stand-alone account in the Citibank Account relationship package. Does that mean you can't have another account? I already have the monety market account at 3%.I believe its a throw-away word. "Stand-alone" as in it has its own account number.
My wife and I have USAs linked to our debit cards and have never been charged a fee for our USAs. It's the checking accounts on which we take appropriate actions to avoid a monthly fee. Note that some types of Citi savings or money market accounts might have balance requirements and/or checking account activity requirements (e.g. minimum balance, 2 bill pays or 1 direct deposit per month) in order to earn a higher interest rate. I don't think the USA has any such requirement.

thinwallet4d said:Does anyone have the routing number for the ultimate savings account. I am also trying to get more than 2K out of the account and want to try to pull from another institution rather than push from citi...
Why not call and ask? Some banks will have different routing numbers by the state the account is domiciled in, and even different routing numbers for wires and ACH transactions.

Citi is just annoyting the hell our of their customers. I'm so sick of transferring money back and forth. Just transferred the money from the ultimate money to the ultimate savings. They should rename the accounts ultimate pain in the ...!

glxpass said:Citi has repeatedly told me that they don't do a hard inquiry for opening deposit accounts with them. I was recently told that they just use ChexSystems and Equifax (for identity checking only). So, I'd expect to a soft credit inquiry on Equifax. Now if you were also getting a credit type of product such as overdraft protection, that would incur a hard credit inquiry. My wife's checking account and my checking account were opened by phone. Usually we've opened the USA and UMA by phone, although one of those accounts was opened on-line. Neither my wife nor I have had a hard credit inquiry from Citi for opening these deposit accounts.

If you've incurred a hard credit inquiry, I recommend calling Citibank (perhaps their new accounts department), verifying their no hard credit inquiry policy for applying for deposit accounts, and if that's confirmed, tell them what happened and request they contact the appropriate credit bureau to have the hard credit inquiry removed.

I called Citibank today regarding the hard pull on TU for opening the USA. A representative named Anna told me that Citibank does do hard pulls for opening an account. I explained that I had logged into my online account with Citi to open up an additional account and that I had been told by representatives at various branches that no hard pulls were done for account openings. The rep. I spoke with said I had been misinformed. She confirmed that Citi does do hard pulls for account opening. This is annoying; again, I wasn't requesting an overdraft or loan of any type -- just a savings account opening.

ninas said:goldenkidx said:I don't get it, do you still get a Transunion hit if you already have accounts with citi and just opened it up through online banking?

Yes , I got a hard pull although I was already a Citigold customer. I logged into my online account and opened the USA with no overdraft requested. I have been repeatedly told by Citi reps. at various branches that no hards are done; apparently this is not a straightforward policy.

I guess YMMV; unless CreditSecure is not accurate, I still don't have a hard pull for opening the USA account.