i know what i am writing is deviating off subject. mayb it has to go to new thread. either way the title of this thread: "20,000 point bonus" fits my topic very nicely.
Citi has just sent me an offer (expires 06/15)(as a citi AA MC cardholder) to open a checking account with them. opening deposit is $1,000. For every month for the next 3 months, i make a direct deposit or 2 online bill payments, i will receive 10,000 AA miles. If i were to keep this thing up (with the direct payment or 2 online bill payments) for 9 months after the initial 3 months, they would give me another 10,000 miles. Now this is very easy. the customer service rep told me that the bill payments are a minimum of $1 and i could even pay to myself and not necissarily towards a bill. setup a recurring payment for 2 payments every month for the next 12 months and you are set with BANG 20,000 miles.
sounds great. here is my problem. i need to keep a balance of $6,000 in order not be charged the monthly fee. MONTHLY FEE: $9.50 (NY). i can not keep up that balance, so is it worth it to pay the monthly fee every month to get the bonus miles? mayb just to pay the fee for the first 3 months and get the first 10,000 miles, and then close the account.
(*in truth i dont have to keep up that balance of $6000. it is bit more difficult and i dont fully comprehend what the rep told me. basically, between the CC and the checking account has to be a total of $6000. so if i racked up a bill of $5000 on my CC, with buying coins, then i only need $1000 in my checking account in order to waive the monthly fee. but for me, this doesnt help because i pay up my bills in full every month, so even if i rack up a bill and avoid the fee i will have to work out something for the next month.)
looking to hear your input.....