Citibank:feast, famine, or always feast?

[GettingReady]

I have a conundrum and need advice. I did an online application for Citigold checking for the 50k AA miles and based on the website it did not go through. I waited and when I didn't hear anything, I did a telephone application.

On 10/5 I received an email to sign the signature card for the new account application. I did that and faxed it back to them. Then I received two Citigold debit MasterCards with different account numbers.

Today I received two different pin numbers correlating with the two different debit cards. I also received a packet with a signature card and a W9 form. That has an account summary for a Citigold interest checking account with a balance of 15 K which hasn't been charged yet. This was the acct done via telephone which I was going to fund with my Citi Exec card.

I have no idea what to do at this point as it looks like I have 2 citigold checking accounts?

 

[aviator8]

do you know which was actually created first? If so you could just let the second one die on the vine, but I would secure message them to get the details of the promo confirmed in writing. Also if you basically have duplicate accounts, and you elected to fund both from the same source. If you were running up to the max on that CL then the second would never get funded. as the charge would be denied.

 

[GettingReady]

Thanks for replying, aviator. I don't know which one goes with the online application and which goes with tele conversation since both debit cards and PIN numbers came together but on different days. I have heard Citi will let you go over your CL.

I did try SM via CC online but they couldn't answer me. I'll call the "New Account Opening" number tomorrow on the email I received and go from there. Kinda doubt if I'd get the sign on bonus twice but you would think their system would kick out a duplicate application. I've also read about people getting multiple (same) CCs with them.

 

[Matt]

If you can afford to have the funds locked up for 90 days, do both. If you cannot, do one.

It doesn't mean that your funds will be locked up, its just the way to think about float management, which is the root of this question.

 

[SanDiego1K]

I set up a Citi checking account 3 or 4 years ago for a 30K promo. i subsequently closed it and have now received the 50K offer. Citi sent me a tax form valuing the miles at $.02 each. Though I beefed up the accountant with documents purporting to show that the miles were worth less, the accountant took the easy route and used the tax form supplied by the bank.

I swore I'd never open another account again as I didn't gain anything. What are others doing about the bank's valuation of the miles?

 

[italdesign]

The word circulating is that Citi is not issuing 1099 for TYP unless the redemption totals > $600 (or something like that). For the AA promo there is more concern, though I paid less attention since I didn't sign up for that one.

 

[GettingReady]

If you can afford to have the funds locked up for 90 days, do both. If you cannot, do one.

It doesn't mean that your funds will be locked up, its just the way to think about float management, which is the root of this question.

I'm not going to be funding the accts with 50K to avoid the potential $30 monthly fee, thus not really worried about funds being locked up. I just got a chance to look at the T&C in the booklet they sent and saw the "Limit of one offer per customer and account" and "Offers for new consumer checking customers only". Don't think I can be a new customer simultaneously on two accounts unless they really mess up due to a computer glitch. Might be fun to try.