Update 8/13/20: Deal is even better as it’s now 3% back instead of 2.5%.
Update 4/13/20: Deal is even better than before as you can now earn the citi checking bonus as well. E-mail subject line is ‘Special offer for <firstname> – earn 25% more Cash Back on your purchases through 4/30/21 + up to a $1,500 Cash Bonus with qualifying activities’. Hat tip to reader thomasthorn85
Update 1/14/20: Deal is back and the bonus 0.5% is now available through 4/30/21.
Update 7/20/19: More people targeted. Interestingly the bonus is only still good through 1/31/21
[Update: Readers note in the comments getting similar kinds of bonus offers on ThankYou cards like Premier and Prestige.]
The Offer
No direct link to offer, sent out via e-mail
- Citi has sent out an e-mail to some Citi double cash holders offering them 2.5% cash back (1.5% cash back when you buy and 1% cash back when you pay) until 1/31/2021 when they open a Citi Priority Banking package. This package includes the Citi Accelerate savings account that earns 1.85% APY.
- Others have a similar deal offering an additional 25% on Citi ThankYou cards
The Fine Print
- “Eligible Customers” are Citi Double Cash Cardmembers who (1) have a residential address for their Eligible Deposit Accounts in AL, AK, AZ, AR, CO, DE, GA, HI, ID, IN, IA, KS, KY, LA, OK, ME, MA, MI, MN, MO, MS, MT, NE, NH, NM, NC, ND, OH, OR, PA, RI, SC, SD, TN, TX, UT, VT, WA, WV, WI, WY, AA, AE, AP, AS, GU, MP, PR or VI, (2) have received a direct communication or advertisement from Citibank inviting them to participate in this Offer, (3) are at least eighteen (18) years of age, and (4) who provide required U.S. tax certification when opening new deposit accounts as further described below.
- A monthly service fee of $30 applies to the checking account in the Citi Priority Account Package if you do not maintain a combined average monthly balance of $50,000 or more in eligible linked deposit, retirement and investment accounts
- Between 4/18/2019 and 6/30/2019 (“Offer Period”), Eligible Customers must open a new consumer regular or interest checking account and a new consumer Citi Accelerate Savings account as an owner in The Citi Priority Account Package (“Eligible Deposit Accounts”) by clicking the “Apply Now” button on the promotional offer page for the Offer, and proceeding to open the Eligible Deposit Accounts on the linked account opening page.
- Between 4/18/2019 and 6/30/2019 (“Offer Period”), Eligible Customers must open a new consumer regular or interest checking account and a new consumer Citi Accelerate Savings account as an owner in The Citi Priority Account Package (“Eligible Deposit Accounts”) by clicking the “Apply Now” button on the promotional offer page for the Offer, and proceeding to open the Eligible Deposit Accounts on the linked account opening page.
Our Verdict
Keep in mind this also requires opening a checking account, this would make you ineligible for the Citi checking sign up bonus of up to $600. Most people would be much better off just sticking to that checking bonus, because to earn that $600 you’d need to spend $120,000. The high yield savings account is competitive, but there are higher interest accounts out there. Because of all that I wouldn’t recommend anybody actually do this deal.
Thanks to all the readers who sent this in
View Comments (51)
I received my May statement and I continued to receive the extra 0.5% through the entire statement period ending 5/24/21, not ending 4/30/21. I supposed I'll keep this open another month to see what happens.
The extra 0.5% stopped after my May statement. I closed the account.
Any idea if this will be extended again? If not I will just close out the savings account.
I just got it in the mail, it includes 3 tiers of banking bonuses and the extra 1% on the DC for 12 months offer. It says I have to go in branch to take advantage though.
I think there's big difference between 2.5% and 3% offers. For the 3% offer you need to get approved for Citi DC. Means new credit card, hard pull, etc. Likely this offer does not apply to existing DC cardmembers and I'd think it's hard to find folks who have no DC card already. So I presume 2.5% is as good as it gets for most of us.
I did similar offer couple months ago, with extra 25% bonus for double cash card. I did complete bank min deposit from other bank transfer on time.
However, when I check my double cash card statement these 2 months after finishing that new banking account offer, I didn't see any extra 25% even on purchase side or upon payment.
No luck : ( Just received a reminder this morning--Last Chance: Exclusive offer for you - earn 25% more Cash Back...
I got a mail flyer.
2.5% Cashback on DoubleCash until 4/30/21 + Checking Account bonus
Checking Package | Min Balance | Earn
Basic | $5000 | $200
Citibank | $15000 | $400
Citi Priority | $50k | $700
Citigold | $200k | $1,500
I had this offer presented to me at my login for my Citi credit cards, including Citi Double Cash. I should've taken a screenshot, because the front page indicated that 1 DD and 1 bill payment per statement period was required to receive the cash bonus payment, but it isn't mentioned in the T&Cs. In the T&Cs, it is only mentioned in the context of the ThankYou Rewards program.
I opened the Citibank Account Package, but still had it shown to me at my Double Cash login. Here is a quote from the splash page for the offer:
"Earn a $400 Cash Bonus
When you make a minimum deposit of $15,000 in New-to-Citibank funds into your eligible deposit account within 30 days of account opening and maintain the minimum balance for 60 days and 1 qualifying bill payment for 2 consecutive months after account opening."
The splash page has the text "Ability to earn ThankYou Points" linked to footnote 1, which states:
"Separate enrollment of eligible consumer checking account in Citi ThankYou Rewards required. Eligible customers with a checking account in the Citi Private Bank Account, Citigold Account, Citi Priority Account or The Citibank Account Packages can enroll their checking accounts in ThankYou Rewards. Eligibility and participation are subject to terms, conditions and restrictions. Customer must be a citizen or resident alien of the United States (U.S.) with a valid U.S. taxpayer identification number. Taxes, if any, are customer's responsibility. You must complete 1 qualifying Bill Payment and 1 qualifying Direct Deposit each statement period in order to earn monthly ThankYou Points for eligible products and services linked to your checking account. Citigold , Citi Priority and Citi Private Bank clients who do not complete these transaction requirements can earn points at a reduced level. For complete details, see the Citi ThankYou Rewards Terms and Conditions."
This is the only portion of the T&C that mentions Bill Payment and Direct Deposit, except for where Direct Deposit is required to waive fees for the Basic Banking Package.
Anyone know if there is actually a bill payment requirement now for the Cash Bonus?
Yeah this is a different offer, this is the offer for the checking accounts that Will mentioned on the post. The t&c you're referring to just tells you that you'd be eligible to earn TYP for your banking activities.
I had offer in my Double Cash card login and mail : Bonus is $200/$500/$700 + 25% extra bonus for Double cash card spending
I went through all application to open checking, it didn't ask me about any saving account (want to add saving or not).
After completing entire procedure, only checking account.
Just wanna know if anyone did this offer through CITI Double cash card login, is it required to open extra saving to link together? or just checking only.
thanks
Do you get any confirmation of the bonus/promo when signing up? I got the extra 0.5% cash back and $200/500/700/1500 checking offer in my Citi Double Cash online account. No mention of it during signing up though, unlike Chase which gives a bonus receipt. Have seen lots of reports of either bonus not coming through.