Citibank is offering 40,000 Thankyou Points for opening a new checking account. This is a a great offer – now that Citi ThankYou points are transferable this means for instance 40,000 Flying Blue points.
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40000 Thankyou Points – why this a great offer
This is a great offer since 40000 Thankyou Points points are worth almost $550 in flights.
However please keep in mind:
– Citibank is known to send you 1099 forms – 40000 Thankyou Points may be valued as high as $800 by Citibank
– Citibank also comes out with American Airlines miles offers from time to time, if you sign up for the above offer you can't sign up for the AA bonus offer
– there is usually no credit inquiry when opening a checking account but it can be a paperwork nightmare if you just moved (happened to me!)
– a Citigold account has a monthly fee of $30 if your balance is less than $50,000
What else do I need to know about the 40000 Thankyou Points offer?
– You can fund the account with credit cards (when opened up online at least once) – while Chase posts this as Cash Advance, Barclays and (potentially) US Bank post this transaction as purchase!
– opening up a checking account will show up as a soft pull on your credit report – there will be NO hard pull
– to get the bonus one direct deposit must be credited and one bill payment must be posted
– for the additional 10,000 bonus points you just need to download and use the Citi mobile app