If you already have money with Citi, or a mortgage, or plan to – this is for you. Otherwise, move along. Nothing to see here. If you open a checking account by 12/31/2011, Citi will give you Thank You Rewards points worth $400 or $200 for being a new checking customer.
Open either account, pay one bill online, and make one direct deposit each month, for two months. Keep your account open 90 more days and you get the points!
The Catch: You must have money in these accounts or any Citi accounts to avoid the monthly fee. I spent a lot of time with a Citi Customer Service Rep (CSR). Here’s what he told me:
Citigold Account – 40,000 Thank You Rewards points worth $400 in gift cards – must have $50K in Citi Accounts or pay $30/month service charge.
Citibank Account – 20,000 Thank You Rewards points worth $200 in gift cards – must have $15K in Citi Accounts or pay $20/month service charge.
Any money you have in Citi CDs, Savings, Checking, Money Market, Retirement or Investment accounts count toward the $50K or $15K. And any money you owe Citi in Mortgages, Unsecured Loans, Credit Cards and HELOC also count toward the $50K or $15K.
So if you have loans with Citi or have money parked there, click here and get yourself $200 – $400 in free gift cards! I looked into opening a 6 month CD and that did not make sense. Here’s another tip. Many banks consider any ACH transfer from another financial institution a “Direct Deposit”. So, if you cannot do a direct deposit with your employer’s check and have another bank account, or PayPal, and transfer money from there to this account, that should meet your “Direct Deposit” requirement. Of course, consult with any Citi CSR if you have questions.