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Citi $400 Bonus + 0.5% More Cash Back on Citi Double Cash (Checking Acct with $15k Deposit for 60 days)

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Logged in my citi online acct and noticed this. Looks like a targeted offer for members with a Double Cash card with citi. Check your eligibility by logging in to online.citi.com

The $400 cash back seems to have been available last year ($500 with DD) and there are a few quirks with Citi that you may want to look into. This time around, a 2.5% cash back on non category purchases until 2021 is easy math to see if it's worth using compared to your 1-2% cards.

"Earn 0.5% more cash back when you open a Citibank checking account + a $400 cash bonus with a qualifying deposit."

Earn 2.5% Total Cash Back until 1/31/21 for opening the Citibank Account Package. 1.5% Cash Back when you buy and 1% Cash Back as you pay

+

Earn a $400 Cash Bonus when you maintain a minimum balance of $15,000 for 60 days

You must open a new consumer regular or interest checking account in a Citibank Account Package ("Eligible Checking Account") between August 15, 2019 and October 15, 2019. To receive the Cash Back Booster, both your Card Account and Eligible Checking Account must remain open, current, and in good standing from the time of your enrollment in the Offer throughout the term of this Offer. To receive the Additional Cash Bonus you must deposit $15,000 or more in New-to-Bank Funds in the Eligible Checking Account within thirty (30) calendar days of opening the Eligible Checking Account and maintain the funds for sixty (60) calendar days.
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Created 08-21-2019 at 09:44 AM by Kerune
in Finance
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#2
who keeps 15k in a checking account ?
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#3
Quote from Gdog2004
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who keeps 15k in a checking account ?
Someone who wants to make $400 for keeping it in there for 2 months?
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#4
Have doublecash and checking/savings accounts and i didnt get this offer
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#5
Any fees? Also seems like as long as I have 500 DD o dont need to keep 15k there?
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#6
Quote from kahoots
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Have doublecash and checking/savings accounts and i didnt get this offer
I would think this is for new checking/savings customers only. These offers typically go to actually opening a new one.
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#7
Quote from Gdog2004
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who keeps 15k in a checking account ?
Any better suggestions where to park $15k ?
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Quote from superbrasso
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Any better suggestions where to park $15k ?
Money Market ? Mutual Funds ?
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#9
How long do you need to keep account open? What's the minimum balance required to avoid monthly fee?
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#10
I see the offer on my city page under offers. This is the detail page when I go in. The sweet spot seems to be 500 dollars for 15k deposit, but I need to read into the details.

"Eligible Checking Account Packages":1 Earn: "Minimum Deposit" within 30 days of account opening and maintain "Minimum Balance" for 60 consecutive calendar days
Citigold® $1,000 $200,000
Citi Priority $600 $50,000
Citibank® $500 $15,000
Basic Banking $200 $5,000
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#11
Quote from superbrasso
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Any better suggestions where to park $15k ?
Crypto. If you have nerves of steel and don't pull out at the first sign of the market dropping.

Or med marijuana stock.

I don't have nerves of steel so MM is my choice.
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#12
Quote from ychen07
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How long do you need to keep account open? What's the minimum balance required to avoid monthly fee?
You need the money in there for 60 days from your deposit, then it takes up to 3 months to get the credit applied, at which you can close the account. Potentially, this means you have to keep the account open for 5 months and keeps a minimum balance (10k according to my page) in order to get the cash back. That means 15k tied up for 2 months and 10k of that tied up for an additional 3 months.



1 There is no monthly service fee for accounts in The Citigold Account Package. If you do not maintain a minimum combined average monthly balance of $200,000 in eligible linked deposit, retirement and investment accounts, your Citigold Account Package will be converted to The Citi Priority Account Package and your accounts will be subject to the terms and conditions then in effect for that package. A monthly service fee of $30 applies to the checking account in The Citi Priority Account Package if combined average monthly balance of $50,000 or more is not maintained. A monthly service fee of $25 and a $2.50 non-Citibank ATM fee apply to checking account in The Citibank Account Package if combined average monthly balance of $10,000 or more is not maintained. For The Basic Banking Package to waive the $12 monthly service fee make one qualifying direct deposit per statement period and one qualifying bill payment per statement period or maintain a $1,500+ combined average monthly balance in eligible linked accounts. Fee also waived for first listed account owners 62 or older. For details on consumer account package requirements and fees, see the Citibank Marketplace Addendum or visit citi.com/compareaccounts.

The Cash Bonus will be credited by Citibank to your Eligible Checking Account within ninety (90) calendar days from the date you complete Required Activities. At the time the Cash Bonus is credited to your Eligible Checking Account, your Citi credit card account, your new Eligible Checking Account, and if applicable, new Eligible Savings Account, must all be open and in good standing. PLEASE NOTE: Accounts which have a zero balance for ninety (90) days are subject to closure and will not meet the requirements of this offer.
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Last edited by iivisionii August 23, 2019 at 01:14 PM.
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#13
Just got a Citi offer in the mail today: deposit $15,000 and get $500. after 60 days. I'm headed there this afternoon.

Basic Banking $5000 gets you $200
Citibank $15,000 gets you $500
Citi Priority $50,000 gets you $600.
Citigold $200,000 gets you $1000.

No other requirement like direct deposits.
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#14
Quote from jimx200
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Just got a Citi offer in the mail today: deposit $15,000 and get $500. after 60 days. I'm headed there this afternoon.

Basic Banking $5000 gets you $200
Citibank $15,000 gets you $500
Citi Priority $50,000 gets you $600.
Citigold $200,000 gets you $1000.

No other requirement like direct deposits.
Read the fine print. You have to keep the account open until the bonus gets deposited to get it. It takes up to 90 days for the deposit. You get charged unless you have over 10k in the account, which means you have to have 15k in the account for 2 months, then another 10k for up to an additional 3 months. Still seems worth it though.
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#15
Quote from adalta
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Crypto. If you have nerves of steel and don't pull out at the first sign of the market dropping.

Or med marijuana stock.

I don't have nerves of steel so MM is my choice.
MJ stock is a loser. Why? Here in California (largest number of weed dispensaries in the US) are going broke and many have closed due to growers selling to private parties. And who could blame them as our greedy State thought people would pay a higher price in a State regulated store. Nope. The projected revenue numbers are less than half of what these nitwits tossed out and why the State wanted to legalize the weed. I know a grower who stopped selling to the dispensaries years ago as he makes substantially more selling to brokers and does not have the tax hit and tax people knowing what amounts he sells. Free market capitalism in action!

https://www.latimes.com/local/lan...story.html

My portfolio this year is up 12% with a 60/40 mix of large cap companies and 40% in muni bonds. If I sense a trade deal with China happening, I'll go 90% stock and enjoy the ride up.
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