Anyone have experience with Citi Bank Checking

no, I have not

You need $50k deposited for CitiGold or else you'll get a $30/month fee. You'll also get a 1099 for $800 for those points (worth approximately $500-800 in airfare or $400 in gift cards)

I use them for my business. I like them so far...much better than Wells Fargo anyways.

Quote from flatlight : You need $50k deposited for CitiGold or else you'll get a $30/month fee. You'll also get a 1099 for $800 for those points (worth approximately $500-800 in airfare or $400 in gift cards)

Are you sure this wasnt just for American Airlines card for that 1099- and im not sure but didnt that idea fall through.

Quote from PiratesSayARRR : I use them for my business. I like them so far...much better than Wells Fargo anyways.

isnt anyone better than Wells Fargo?

Quote from Scampsters : Are you sure this wasnt just for American Airlines card for that 1099- and im not sure but didnt that idea fall through. isnt anyone better than Wells Fargo?

You are guaranteed a 1099misc/int for bank acct offers and will rarely get a 1099 for credit card offers

Quote from flatlight : You are guaranteed a 1099misc/int for bank acct offers and will rarely get a 1099 for credit card offers

Never gotten a single 1099 for bank offers and ive done a few.

Quote from Scampsters : Are you sure this wasnt just for American Airlines card for that 1099- and im not sure but didnt that idea fall through.

Citibank will issue a 1099-MISC to any individual who "cashes out" at least $600 of AA miles or TYP in the same calendar year (applies ONLY checking and savings accounts -- it does not apply to credit cards). They did this to me for 2011.

AA miles are "cashed out" when they get transferred to your AA account and TYP are "cashed out" when redeemed.

By the way, Citibank values AA miles at 2.5 cents each which is absurdly overvalued. You should come up with your own fair market value and include an adjustment on your 1040. I suggest searching the internet for advice on how to do this.

Quote from badstink : Citibank will issue a 1099-MISC to any individual who "cashes out" at least $600 of AA miles or TYP in the same calendar year (applies ONLY checking and savings accounts -- it does not apply to credit cards). They did this to me for 2011. AA miles are "cashed out" when they get transferred to your AA account and TYP are "cashed out" when redeemed. By the way, Citibank values AA miles at 2.5 cents each which is absurdly overvalued. You should come up with your own fair market value and include an adjustment on your 1040. I suggest searching the internet for advice on how to do this.

since 40,000 TY points is at most $400 i should probably be fine.

Quote from Scampsters : since 40,000 TY points is at most $400 i should probably be fine.

They are valued at $800 and you will get a 1099 for $800 like several others before you.

Quote from flatlight : They are valued at $800 and you will get a 1099 for $800 like several others before you.

$1000 but who is counting.

If you are happy with your bank stay with them!

I got an offer to change to Citi same as yours, I was also promised no fees, now I have nightmares out of this

Not only did they brake the no fee promise, it messed up my excellent credit I had.

I am sick and tiered of trying to deal with all those fee and charges they put on my account and there's no one in Citi Bank who cares!

Quote from flatlight : They are valued at $800 and you will get a 1099 for $800 like several others before you.

There isnt anything in the TY rewards program that allows you to redeem 40,000 points for $800

Spoke to several diff dept at Citi and not one is aware of an overvaluation of TY pts for1099 purposes. Under $600 as per irs rules, no 1099 is sent.

As of this year consumer accounts are not going to be sent 1099 on bonus points or miles .Citibank is no longer interpreting these bonus's as interest to be reported to the IRS.

no 1099 will send. i had 40000 points offer last year.