Your Bailout Dollars Hard At Work — Citibank Style

Citibank cardholders are being offered a nice deal right now. If they sign up for a Citibank checking account, and fund it with $1,000 by January 31, 2009, Citibank will give them $100. If that’s Citibank’s way of saying thank you for bailing out its parent company, then I’ll take it. You’re welcome, Citi. Of course, if you’re not a Citibank cardholder, you can’t participate in this deal. But rest assured that your taxpayer dollars are going to a great cause. Is this where I put in my sarcasm indicator? Here is a picture from Citibank’s Web site click picture to enlarge:I give Citibank a lot of grief around here, so I thought it only fair to highlight Citibank’s benevolent side as well.Citibank, if you’re crawling around my site today, I thank you. And, though I cannot speak for all of them, I would suspect that taxpayers thank you, too. Viva la Citibank.

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0 thoughts on “Your Bailout Dollars Hard At Work — Citibank Style

  1. I suppose CITI Credit Card Holders being jagged to 18.99% and higher and funding this nice bonus to other customers?

  2. Just think, the deadline to fund the checking account (January 31, 2009) is the same date that Citi cardholders are being given to opt out of those rate increases.Lion, was I not sarcastic enough? Haha.

  3. I swear I almost ripped a piece of my laptop off when I read that. Throwing money out of the God damned window!

  4. Speak for yourself, Lioness. That money isn’t being thrown out the window. It’s being thrown into Citi cardholder pockets!

  5. May I disagree with the great Marcus for once? Currently Chase is offering $125 for opening a new checking account, and last month I opened a BofA checking account (with only $50) in order to take advantage of a $75 offer. And I’m already a Wells Fargo customer, so they aren’t sending me new account offers, but I’ll bet they have something similar.So it’s not just Citi.Actually, Citi is offering the worst reward:BofA (deposit $50, get $75) is giving a 150% return, Chase (deposit $100, get $125) is giving a 125% return and Citi (deposit $1,000, get $100) is giving only 10%.Tightwads.

  6. FLT, you’re not disagreeing with me. You’re just pointing out that others are doing it, too. I just happened to highlight Citibank today. Disagree with me? Nah. You’re just throwing the rest of the companies under the bus, too. Haha.

  7. FLT, also one other distinction. This Citi deal is only available to citi cardholders. Those BOA, Chase deals are open to all, correct?

  8. CM – The Chase deal comes in my credit card statement and the BofA deal came while logged into my CC account – so I think those deals only apply to credit card holders.Does anybody remember when a bank would give you a toaster for opening a new checking or savings account?

  9. FLT, thanks for the follow up. So they’re all luring us in with $$. Nice.I do remember the toasters. The good old days. But I like the new deals better.Also, I thought I would highlight Citibank today because I have been very one-sided lately in my coverage. Wanted to give them some props today.

  10. It’s not the first bonus of this type. I got some smaller offers a year or so ago, and in May there was a 16K TYP bonus for putting $1K in an account (basically $150).

  11. NationalCity Bank is offering $150 visa gift card (hopefully not a CITI card) for a $50 opening deposit as long as you use direct deposit and your debit card (via PIN) for 10 transactions within the 1st 60 days…I think I would rather have a USB toaster…

  12. The one thing about this deal though is that you must open up a regular checking account in one of their premium checking account packages, such as the Citibank Account,Citibank Everything counts account or Citibank gold. With that said, you ‘MUST’ maintain at least $6000 in your account or else you will be charged a monthly service charge of around $12 depending on which state you live in. Outrageous!

  13. Anon, thanks for weighing in. That’s ridiculous. And I will bet that you have to have an ‘average’ balance of $6,000. Just another way to ding you. $12 a month if you don’t maintain $6,000? Sheesh. Hopefully you don’t live in the wrong state!

  14. Nope, it’s $10 in the other states and yes you must maintain at least a $6,000 average balance, or $10,000 or $100,000 depending on the account. I think I’ll pass on this deal. Thanks Citi, you really know how to bring em’ in.

  15. This is why I love Citibank. The other banks are busy luring customers in as well — but I would bet that they do not have the same kinds of restrictions.

  16. Anon, it might be a targeted offer. I have not seen the offer — and I am a Chase credit-card customer. Far Left Texas is a regular reader here. I will have to ask him about that offer. He said that the offer comes in his credit-card statement. I am sure he’ll weigh in.

  17. Alrighty, thanks a bunch. I already have an account with BofA so I can’t take them up on their offer.

  18. Glacious, right. I think you have to be a new checking customer to take advantage of these deals.

  19. Wamu is offering $100 to open a checking account with $100 funding. I got the offer in my CC statement, so I assume its limited to CC custy’s.

  20. FLT, I have a Chase card. I haven’t received that in my statement. Perhaps that’s because I am a customer at Wamu? Maybe. Meanwhile, perhaps this is a targeted offer?

  21. CM – I received it in both my Chase statements and Mrs. FLT received it in hers. I’m guessing it is targeted geographically – currently Texans are getting the offer, Californians aren’t.If you really want to use it, email me and I’ll send you the coupon code.

  22. FLT, no. Just wanted to make sure that this was a targeted offer. Sounds like it’s a geographically-targeted thing.Thanks.