Question
I saw a Citibank Checking account offer that says: Open a regular checking account with a minimum balance of $1,500 and make 2 online payments, will get $100. The offer looked good since I've been thinking about the CitiAAdvantage Debit card which can earn AA miles.
However, I learned from the customer service rep. that even though the ad says "regular checking account", this offer requires that I open an account that has a minimum balance of $6,000 to avoid service charge. Now it doesn't look as good a deal. Does anyone know anything about this offer, or have experience with Citi's checking accounts?
Answer
What I would suggest is that you open the account they require, make the payments, get the $100, then switch to a "pay as you go" or "e-z checking" or some stupid name like that account.
It requires a $1500 combined balance (checking, savings, money markets, credit cards, loans) to avoid the $10/month fee.
The $6000 account is a little better in that it waives some fees for checks, ATM withdrawals, etc. The $1500 has some limits, I think you get 5 free ATM withdrawals.
Hope that helps; let me know if you have any other questions.
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Answer
I do not trust citibank, do not open that account!
Answer
Originally posted by angrycardholder:
I do not trust citibank, do not open that account!
I have had good experiences with Citibank for many years. Plus, they have ATMs everywhere. I've used them in Japan, Argentina, and Europe, to mention a few places. But do be careful of your limits, as many Citibank accounts have an assortment fees. If you can manage to get the free $100 with paying some minimum fees, then do it, and switch to another type of account.
You'll still end up making at least $50 or more.
Answer
Citibank seems to make "too good to be true" offers like the $100 rebate which worry me and have me looking for the hidden trap.
For instance they've sent me (acting for AT&T's Universal Card) a 4% balance transfer offer, good till paid. That's pretty cheap money. They reserve the right not to honor the convenience check they gave me to invoke the transfer, and would carry over higher-rate balances till the cheap transfer was paid, so I'd want to be sure the account was paid and unused during the period. (Which action I'd hope would not cause them to decline the transfer.)
I'd begun to think they were another Providian itching for the chance to spring a trap, but people here generally seem pleased with them. Where's the catch?