FYI – Many are blogging about the Citibank Thank You Premier Card 50,000 offer being dead. On the contrary it is still very much alive.  The marketing affiliate (me included) links are no longer able to offer it but this offer is still available to the general public directly from the lender.  It’s a good offer!  The minimum spend is only $2,500 (do-able) and the annual fee is waived.
I had previously written about combining this offer and a Citibank checking account offer to accumulate 100,000 Thank You points but it looks like that checking account offer expired 12/31/11 and I currently can not find another working like for the 50,000 Citi Thank You checking offer. (If I do, I’ll post)  That being said, Citibank has been sending out 1099’s to some people who received checking account bonuses in 2011.  There has been some recent articles about this situation.  Here are a few
Both are of these articles are very imformative.  Seems like the water is very murky with this regard.  No other bank has been doing this and miles or points have never been taxable in the past.  The IRS official statement basically says they won’t come after you for not disclosing this because there is no policy on miles & points (as of yet).  Anyway, something to know about and keep an eye on.


  1. I read where if the value of the miles are $600.00 and up, you can get a 1099. I got the 20,000 mile checking account promotion and that value is only $500.00. 2.5 x 20,000. I have not received a 1099. I just filed my taxes today.

  2. Yes. I have read this too! I believe everyone on different forums that has reported receiving a 1099, opened a checking account for 25,000 or more miles or points. I think you will not receive one if you didn't get it already. Especially since you only received 20,000 miles. I know there was an offer in 2011 for 23,500 and I think they may have created this number because it wouldn't trigger the 1099 system they have set up. It is really crazy what they are trying to do. I think we will see it disappear. Everyone knows it's almost impossible to really put a dollar value on miles or points since they can be redeemed in so many different ways. Will see how this unfolds. Thanks for sharing this information with everyone! It's very helpful to know

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