EARN 40,000 THANK YOU POINTS WITH CITIBANK CHECKING ACCOUNT
Citi Checking – Earn 40,000 ThankYou points that are redeemable for up to $400 in gift cards!
Citi Checking has launched a new and exciting checking account offer. Now customers earn ThankYou® points that are redeemable for up to $400 in gift cards!
OFFER DETAILS:
- Open a new Citibank checking account in The Citigold®, Citibank® or Basic Banking® Account Package by 4/30/13.
- Within 45 days after account opening, enroll the new checking account in Citi ThankYou® Rewards AND
- Complete one direct deposit AND complete one qualifying bill payment for two consecutive months.
Also, note that Cit ThankYou Points are now transferable to Hilton Honors points. This is currently Cit ThankYou program’s only transfer partner. 1,000 ThankYou points equals 1,500 Hilton Honors points. Although, you must be a Citi ThankYou Rewards Premium card member to exchange points. The terms on the Hilton Honors site do not state this but when you log into your ThankYou account it states that only ThankYou members with Citi ThankYou Premier, Citi ThankYou Prestige, Citi Prestige or Chairman credit cards are eligible to use the ThankYou Points Exchange. If you have one of these cards though, you can combine your points together and transfer them to Hilton.
“Receive 1, 500 HHonors Bonus Points for Every 1,000 Citi ThankYou Points. Transfers must be in increments of 1,000 ThankYou Points with a minimum of 1, 000 ThankYou Points. To make an exchange, visit thankyou.com or call ThankYou Rewards at 1-800-842-6596 (toll-free in the United States).
Adding Hilton Honors as a transfer partner is a start in the right direction. Hopefully, we will see Citibank move to add more partners this year. If they do, it will surely raise the value of these ThankYou points.
So, this is a pretty easy simple deal! The direct deposit can be achieved without actually moving your paycheck. If you need some creative ideas, feel free to email me and you can also check out this helpful article here.
VALUE OF THANKYOU POINTS
ThankYou points aren’t highly valuable in the mile and point world just yet. As I mentioned before, if they would add some more transfer partners to their program they would definitely increase their value. Currently, the best use is probably for flights and redeeming for gift cards. You can book air, hotel, car rental, etc on their site. You can also redeem for cruise certificates, car rental certificates, and lodging certificates. You can learn more about the ThankYou program here.
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Will they send you a 1099 like they have in the past?
@Kevin – I would plan on it and be happy if you didn’t get one. I did a Citi checking in 2011 for AA and didn’t get one. I did one for AA at the end of 2012 but still haven’t received the miles yet. Didn’t get anything this year but I didn’t receive miles in 2012 either. Be interesting to see if I get one in 2013. It’s always a waiting game with Citibank checking account. Some report miles/points posting quickly but I’ve always had to call & email to get them posted.
@ Kevin – I believe Citi has some value equation they figure out, like anything above 25,000 miles/points is over $600 value and sends a 1099. I’m really not sure though. I do know you can dispute the 1099 as the IRS says that miles/points don’t have any set value (as of last years statement). If I ever get one, I’m surely going to dispute because who can really say the value of those points. It depends upon how they are redeemed and there are so many ways points can be redeemed.