Citi Declined A Checking Account Application?

[Redbull3]

I don't know what Citi uses to value TYP, but back when it was 2.5 for AA I want to say it was either .4 or .5 for TYP but I could be wrong and it may have changed. Also I'm pretty sure it's one consistent number regardless of what you redeemed for...

Dan how many TYP did you redeem in 2014? I am guessing over 150k if you got a 1099 (based on my gut feeling that it's still .4).

[dpk4588]

I got a 1099 earlier this year for a TYP redemption.

Was it based on the value you redeemed them for?

[Venilla]

Why discuss it in this thread. I have to give out my anger

Anyone else had it with Citi? Is there anything I can do?

[mgarfin]

What are the consequences of getting a 1099?  Moving you in to a higher tax bracket?

[coralsnake]

What are the consequences of getting a 1099?  Moving you in to a higher tax bracket?

How about the fact that you have to pay taxes on the "income"

[Aj3042]

-1
Spoken like a true #%^*+=

http://forums.dansdeals.com/index.php?topic=49064.60

Well there was a question mark in my comment for a reason. But given that "#%^*+=" is pretty open to interpretation I guess I'll just assume it was some sort of compliment so thanks!

[Dan]

Cool story.
Next time you don't agree with someone you can just say "Because he's an a$$?" with the catchall question mark afterward so that you can CYA.

[Aj3042]

Cool story.
Next time you don't agree with someone you can just say "Because he's an a$$?" with the catchall question mark afterward so that you can CYA.

CYA? I don't know what that means. And yes I'm a good storyteller how'd you know?

[zer0k1]

How about the fact that you have to pay taxes on the "income"

I'm not clear on how tax paying works exactly. If I never receive a 1099 then I'm in the clear? Even if I have large QP payments for point sales?

[coralsnake]

I'm not clear on how tax paying works exactly. If I never receive a 1099 then I'm in the clear? Even if I have large QP payments for point sales?

I doubt the IRS would agree with that. Officially you need to pay taxes on and report all income. I am not a tax professional though and don't play one on internet forums either. So consult your tax professional.

[aradisc]

I'm not clear on how tax paying works exactly. If I never receive a 1099 then I'm in the clear? Even if I have large QP payments for point sales?

If you don't receive a 1099 then the IRS probably hasn't either and doesn't know about the income *now*. That doesn't mean they can't find out in the future through an audit, and cause you a lot of pain.

[David R]

-I applied for the CitiGold account for 40k TY points and my application got declined . They won't tell me the reason over the phone...

That's really weird because I applied for the TY premier right after I was declined for the checking account and they approved me with a 19k CL.

So a CC they are willing to give me but a checking account not?

FWIW I have an excellent credit score (790-804) and I don't have any negative info on my ChexSystem report

#weird

Another bank (promo discussed in another thread) declined my online app for a checking account although my Chex report is clear. I went to a branch to open it and had no issues at all. Was your app done online? Can you get the promo you seek by going to a branch? Your best move now is probably to wait for your mail and read the letter. But if it's a promo that will expire before that, try a branch.

[Venilla]

Another bank (promo discussed in another thread) declined my online app for a checking account although my Chex report is clear. I went to a branch to open it and had no issues at all. Was your app done online? Can you get the promo you seek by going to a branch? Your best move now is probably to wait for your mail and read the letter. But if it's a promo that will expire before that, try a branch.

It was an online app. The promo I'm seeking is not available in branch