$150 for opening Citibank Account

(expires July 31)


Citibank is offering a bonus in their ThankYou loyalty program worth $150 for signing up for a Citibank Account.  (Points can be converted into many gift cards, including Amazon.com.) As an added bonus, you get triple points in their ThankYou program for 1 year.  Without much difficulty (e.g. using direct deposit, bill pay, etc), you can earn close to $400 (tax free) worth of ThankYou rewards in your first year and about $70 per year thereafter:

• 16,000 ThankYou points as a sign-up bonus
• 21,600 ThankYou points in your first year (600 per month, x3 for the first year)
• 1.5% back on debit card purchases (0.5%, x3 for the first year)

This is a pretty good deal, with a few caveats: you must maintain
$6,000 in combined balances to avoid a monthly fee, a new account triggers a credit check, and the highest
interest rate Citi pays is only 2.65% (in the Citibank Ultimate Money
savings account) -- compare with Alliant's 4.0% interest rate.  It used to be much better when Citibank paid 5%, but now the interest loss (difference between 4% and 2.65%) costs ~$80/year or ~$50/year after tax.  Still worth it to give up interest to earn ~$70/year after tax in gift cards, but not as compelling if you have an account like Alliant.


If you already have a ThankYou account, log into your account and enter promotional code CITICCI508IN for 100 free points.  After that, use promotional code DPR1CDW408WK for another 100 free points.