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Update: You can NO longer fund a new Citigold checking account with a credit card.
Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.
Last year, there was a terrific opportunity for folks to meet minimum spending requirements and earn lots of airline miles by funding a new Citigold checking account with a credit card. And now it’s back!
If you’re eligible, when you open a new Citigold checking account, you can fund the account with a Visa or MasterCard to meet your minimum spending requirements.
And if you meet certain conditions, you’ll earn 50,000 American Airlines miles. That’s enough for 2 domestic round-trip coach award flights!
I’ll show you how to sign-up for this offer. And how to make the most of it!
What’s the Deal?
Link: Citigold 50,000 American Airlines Miles Offer (Use Promotion Code WD3QFS2Y4C)
Doctor of Credit reports you can earn 50,000 American Airlines miles when you open a new Citigold checking account by March 31, 2016, as long as you meet certain requirements.
This offer is for new Citi checking account holders only. If you’ve had a Citi checking account in the past, you may NOT get the bonus.
Apply for the account online. Or call 800-374-9500 to apply. In either case, be sure to use promotion code WD3QFS2Y4C.
You can initially fund the account with some credit cards (up to $100,000!) without paying a cash advance fee (check Doctor of Credit’s list here). So this could perfect for folks with big minimum spending requirements to meet!
But to unlock the bonus, you’ll have to meet certain conditions. It’s a bit of legwork, but it could be worth it!
Make Sure You Earn the Bonus!
Because this is technically a targeted offer to folks who receive communication from Citi, it’s a good idea to call and confirm you’re eligible before you apply.
Funding the account with a credit card can NOT be done online. Select “Other Funding Source” and “Credit Card” and you’ll be given a link to a PDF file. You’ll have to print it out and fax it in with your credit card details. Or call to apply instead and save a trip to the printer!
To receive the bonus miles, you’ll have to:
- Make at least $1,000 in debit card transactions in the 1st 60 days of opening your account, AND
- Make at least 1 bill payment for 2 or more consecutive calendar months within 60 days of account opening
Citigold has a $30 monthly fee. But it’s waived for the 1st 2 months. After that, you can cancel or downgrade the account with no penalty (but be sure your American Airlines miles have posted to your account FIRST!).
Note: Folks with large deposits or investments with Citi may have the $30 monthly fee waived.
Is It Safe to Fund the Account With a Credit Card?
This is a terrific way to meet minimum spending requirements and earn miles and points – as long as the credit card funding transaction does NOT post as a cash advance!
In general, Bank of America, Barclays, and most Citi cards will usually NOT post as a cash advance.
But other banks (generally) WILL. Check this thread for data points on which cards do and do NOT post as a cash advance.
The best way to make sure your transaction won’t post as a cash advance (which will NOT count toward minimum spending or earn miles and points, and will cost you money in interest charges!) is to contact your card issuer and have them set your cash advance limit to zero. Just call the number on the back of your card.
Some banks, like Chase, can’t set your cash advance limit to $0. In that case, ask them to lower it to the smallest amount possible, like $20.
That way, if the bank tries to process the funding of your new Citi account as a cash advance, the transaction will be declined. Then, you’ll have 1 more attempt to fund the account with a credit card before you’ll have to pick another funding method.
Note: You can initially fund your account up to $100,000 with this method, but you can not exceed your card’s credit limit! And unfortunately you can NOT split the funding transaction by using more than 1 credit card.
Which Card to Use?
These cards might be good choices for funding this account:
- Bank of America Virgin Atlantic ($12,000 minimum spending requirement to earn 70,000 Virgin Atlantic miles)
- Barclaycard Arrival Plus ($3,000 minimum spending requirement to earn 40,000 Barclay Arrival miles, worth $420 in travel purchases of $100+)
- Citi AAdvantage Executive ($5,000 minimum spending requirement to earn 50,000 American Airlines miles (EXPIRED.)
- Citi Prestige ($3,000 minimum spending requirement to earn 50,000 Citi ThankYou points) (EXPIRED.)
- Citi ThankYou Premier ($3,000 minimum spending requirement to earn 50,000 Citi ThankYou points) (EXPIRED.)
I haven’t tried any of these myself, so be sure to set your cash advance limit to zero (or as close to zero as possible) before you try to fund your account with these cards!
You can meet minimum spending requirements and earn 50,000 American Airlines miles for free when you fund a new Citigold checking account with a Visa or MasterCard.
To open a new Citigold account, visit this link and use promotion code WD3QFS2Y4C. Be sure to apply for your account by March 31, 2016.
It’s best to call to confirm you’re eligible to apply because this is supposed to be a targeted offer. But in practice, it works for most folks.
Not all credit cards work (some are processed as a cash advance). To avoid this, set your cash advance limit to zero before using your card to fund an account.
Let me know your experiences opening a Citigold checking account!