HOTTER: $150 for opening a CitiBank Account (IMPROVED from first post)

[JingYen]

I'm not very financial savvy, so I hope this question isn't dripping with idiocy. Will this have any repercussions on my credit if I open and close it after 90 days?

 

[RossMAN]

Originally posted by: JingYen
I'm not very financial savvy, so I hope this question isn't dripping with idiocy. Will this have any repercussions on my credit if I open and close it after 90 days?

Yes, that's what 80% of the people here plan on doing 😀

 

[JingYen]

Originally posted by: RossMAN

Originally posted by: JingYen
I'm not very financial savvy, so I hope this question isn't dripping with idiocy. Will this have any repercussions on my credit if I open and close it after 90 days?

Yes, that's what 80% of the people here plan on doing 😀

Are you saying that 80% of the people here are ruining their credit for a quick $150? Why not keep the money in there for more than 90 days and keep your credit history clean? Also, what would be the ideal time to keep the checking account active before you decide to close it to avoid a negative effect?

 

[vinjince]

BAH....this deal is ok. I signed up with all their info on the website. Called the CSR back after they left message on my land line. Told her I was unemployed to cancel the employment crap. Faxed over my gas bill. Done deal.

Wait my 60 and good to go. Screw the credit stuff. Not going to hurt you that bad if at all as far as I know.

 

[RossMAN]

Originally posted by: JingYen

Originally posted by: RossMAN

Originally posted by: JingYen
I'm not very financial savvy, so I hope this question isn't dripping with idiocy. Will this have any repercussions on my credit if I open and close it after 90 days?

Yes, that's what 80% of the people here plan on doing 😀

Are you saying that 80% of the people here are ruining their credit for a quick $150? Why not keep the money in there for more than 90 days and keep your credit history clean? Also, what would be the ideal time to keep the checking account active before you decide to close it to avoid a negative effect?

This is a CHECKING account, yes they check your credit but you're by no means "ruining your credit".

 

[Quixotic]

hmm... am i correct to assume that we won't see any of the $150 until after the 60 days are up, or will we receive the $150 but just not be able to withdraw it? i received a welcome kit but no mention of any promotion whatsoever...

 

[Slickone]

I did this deal last year. Note that the $150 is reported to the IRS as Interest Income that you'll have to consider when doing taxes, and lowered the amount of my tax return a little.

Also I was not happy in the least with the service when I had this account. They have three million different phone numbers for different things, and every time I called, I was told to call several different #'s before I finally got the right people. This was only when get the account started. Also I didn't know that I had to leave the money in the account for 90 days then wait another long time after that before I the $150 showed up. I can't remember how long. I've got all the info at home. That and they periodically call you for different things.
Of course, IMO, and YMMV.

 

[Quixotic]

Originally posted by: Slickone
I did this deal last year. Note that the $150 is reported to the IRS as Interest Income that you'll have to consider when doing taxes, and lowered the amount of my tax return a little.

Also I was not happy in the least with the service when I had this account. They have three million different phone numbers for different things, and every time I called, I was told to call several different #'s before I finally got the right people. This was only when get the account started. Also I didn't know that I had to leave the money in the account for 90 days then wait another long time after that before I the $150 showed up. I can't remember how long. I've got all the info at home. That and they periodically call you for different things.
Of course, IMO, and YMMV.

damn, how long after? i need my $1500 back in 90 days LOL 🙂

 

[Princeman]

This is a good example of "modern" business practices. They offer you $150, and then abuse you till you can't stand them anymore. I been waiting over a month and called and called. "It's coming, it's being processed, still on hold" LOL. When it does come and I get my $150, I'm gonna wait awhile and politely exit. Sort of like a love affair gone sour. (Drink till she looks good, but stop drinking before you're married.)

 

[RossMAN]

Originally posted by: Princeman
This is a good example of "modern" business practices. They offer you $150, and then abuse you till you can't stand them anymore. I been waiting over a month and called and called. "It's coming, it's being processed, still on hold" LOL. When it does come and I get my $150, I'm gonna wait awhile and politely exit. Sort of like a love affair gone sour. (Drink till she looks good, but stop drinking before you're married.)

Wouldn't it be ironic if you never received your $150 bonus but you were still charged taxes on the $150 at the end of the year?

That would totally suck, wouldn't it?

 

[Slickone]

Originally posted by: Quixotic

Originally posted by: Slickone
I did this deal last year. Note that the $150 is reported to the IRS as Interest Income that you'll have to consider when doing taxes, and lowered the amount of my tax return a little.

Also I was not happy in the least with the service when I had this account. They have three million different phone numbers for different things, and every time I called, I was told to call several different #'s before I finally got the right people. This was only when get the account started. Also I didn't know that I had to leave the money in the account for 90 days then wait another long time after that before I the $150 showed up. I can't remember how long. I've got all the info at home. That and they periodically call you for different things.
Of course, IMO, and YMMV.

damn, how long after? i need my $1500 back in 90 days LOL 🙂

Well, looking back, it may have just been another month, but seems like it was longer. Also maybe the fact that it took awhile before the account got started, funded, and they started counting the 90 days.
Forgot to mention when getting the account started, they wouldn't call or write, and finally I'd call asking what the holdup was, and they'd say all they need is blah blah, so I'd fax that to them, then later they'd need something else. Very unprofessional IMO, and a hassle to me. And I had two different PIN #s, one for when I called in, and one for checking the account online (besides the password). WTF?

Also I got tagged w/ the $8.50 service charge that I didn't know I would be, since I withdrew some of the balance and went under their limit I guess.

 

[UncleWai]

So what if I don't feel like sending them the check?
I haven't sent anything to activate my account.
Will that hurt my credit rating or anything like that?

 

[Quixotic]

Heh, yeah, I dunno if it was just me but even the activation process was a hassle. Too many different ID#s to go through and none of them seemed to match (name-wise) the one they requested on their automated activation line. Still not quite sure if I've activated everything properly yet. ING Direct, by comparison, was a lot easier. Well, if I have a bad experience with Citibank, then they're just going to lose my future patronage. I know one person may not seem like much, but maybe if everyone starts thinking the same way, we'll make an impact 🙂

Originally posted by: Slickone

Originally posted by: Quixotic

Originally posted by: Slickone
I did this deal last year. Note that the $150 is reported to the IRS as Interest Income that you'll have to consider when doing taxes, and lowered the amount of my tax return a little.

Also I was not happy in the least with the service when I had this account. They have three million different phone numbers for different things, and every time I called, I was told to call several different #'s before I finally got the right people. This was only when get the account started. Also I didn't know that I had to leave the money in the account for 90 days then wait another long time after that before I the $150 showed up. I can't remember how long. I've got all the info at home. That and they periodically call you for different things.
Of course, IMO, and YMMV.

damn, how long after? i need my $1500 back in 90 days LOL 🙂

Well, looking back, it may have just been another month, but seems like it was longer. Also maybe the fact that it took awhile before the account got started, funded, and they started counting the 90 days.
Forgot to mention when getting the account started, they wouldn't call or write, and finally I'd call asking what the holdup was, and they'd say all they need is blah blah, so I'd fax that to them, then later they'd need something else. Very unprofessional IMO, and a hassle to me. And I had two different PIN #s, one for when I called in, and one for checking the account online (besides the password). WTF?

Also I got tagged w/ the $8.50 service charge that I didn't know I would be, since I withdrew some of the balance and went under their limit I guess.

 

[abc]

been about a week since I signed up online and sent in a check for deposit. It still has not been cashed, and today I receive a Citibank Banking Card. Is this part of it?

I have not received anything else though.

 

[dquan97]

Originally posted by: TheDiggler

Originally posted by: KingNothing
Oh, another great thing I learned is that you can use their online bill paying thing to send checks to your friends/family. So all you have to do is send a couple $5 checks to your friend and then have him give you the money back.

In that case, send some bill payments to your good friend CASH!!! :Q If you make those checks out for $1ea, it's no big deal if they should become "lost/stolen in the mail." 😉

I will volunteer to be the recipient of these said bill payments and hold it in a trust...

any takers 😉

 

[Quixotic]

Originally posted by: dquan97

Originally posted by: TheDiggler

Originally posted by: KingNothing
Oh, another great thing I learned is that you can use their online bill paying thing to send checks to your friends/family. So all you have to do is send a couple $5 checks to your friend and then have him give you the money back.

In that case, send some bill payments to your good friend CASH!!! :Q If you make those checks out for $1ea, it's no big deal if they should become "lost/stolen in the mail." 😉

I will volunteer to be the recipient of these said bill payments and hold it in a trust...

any takers 😉

heh, i just paid off my credit card with the online payments 😉

 

[Quixotic]

Originally posted by: abc
been about a week since I signed up online and sent in a check for deposit. It still has not been cashed, and today I receive a Citibank Banking Card. Is this part of it?

I have not received anything else though.

Yup, don't worry, the rest (welcome package and your check being deposited) will come. That's just your bank card so you can withdraw from your account if you ever want to...

 

[stormbv]

Oooh, free money!

 

[Mu]

Just went through the application for CG44 ($150 for $2500) but when filling out everything the pages come up with CG44 "Get $150 when you open and fund.......with $1500.." so I changed my opening deposit to $15XX and the printout application page has that clearly stated on it as does the second page of the Signature sheets. We shall see if they give me any flack about the $150, I have copies printed out for backup.

 

[bbkat]

*BEWARE*

Got my welcome package and browsed through the Client Agreement. Under the "EZ Checking" account, combined balance of $1,500+ has no monthly fee. The "Citibank" account however, requires a combined balance of $6,000+ for no monthly fee. The form they are asking me to sign to open the account describes it as "Regular Checking", while the second personalized form indicates "Citibank" account. Sounds like I need to clarify some things with the CSR...

 

[Banana]

BBKat: I noticed the same thing myself! I did call Citibank and was told that my account was the EZ checking account. I found the Citibank account information pamphlets and disclosures very confusing! Bleah.

 

[abc]

you folks got this email didn't you? I think it 's totally stupid why a 'required' step in continuing the application process is to either mail them or fax them a document containing the best time of hour for them to call you at work or home to talk to you. wouldn't any business desiring to do business with you simply just CALL you, a few times even, rather than request and wait for you to reply with nothing more than a 'time' which they should call?


Thank you for choosing Citibank to service your financial needs!
We have received your request to open an account. You should be
receiving a package shortly containing your account information.
In order to expedite processing of your application we need the
following:

* The best time to reach you at either your home or work number to
complete our Know Your Customer call


You may mail the above mentioned items to:
Citicorp Data Systems Incorporated
P.O. Box 769010
San Antonio, TX 78245-9963
Or fax the information to: 866-212-1597 / 866-212-1598 .

Please be advised that this is a one way email and replies cannot
be received. Kindly, include your file number on all of your
correspondence. If you have any questions regarding the above
requests, please call customer service at 1-800-745-1534. If you
have previously sent the requested documentation, disregard this
letter.

Respectfully,

Amy Morales

Client Activation Unit

 

[speeddragon]

I didn't get that e-mail. They just called me the other day and said everything is setup and fund will be transferred in 3 to 5 business days.

Originally posted by: abc
you folks got this email didn't you? I think it 's totally stupid why a 'required' step in continuing the application process is to either mail them or fax them a document containing the best time of hour for them to call you at work or home to talk to you. wouldn't any business desiring to do business with you simply just CALL you, a few times even, rather than request and wait for you to reply with nothing more than a 'time' which they should call?

 

[Gravity]

I'm in. They are just getting around to veryfying my self-employment. They told me that they make the $150 transfer 60 days after you make your 2nd online payment.

Great deal. Thanks

Gravity

 

[abc]

Originally posted by: speeddragon
I didn't get that e-mail. They just called me the other day and said everything is setup and fund will be transferred in 3 to 5 business days.

Originally posted by: abc
you folks got this email didn't you? I think it 's totally stupid why a 'required' step in continuing the application process is to either mail them or fax them a document containing the best time of hour for them to call you at work or home to talk to you. wouldn't any business desiring to do business with you simply just CALL you, a few times even, rather than request and wait for you to reply with nothing more than a 'time' which they should call?

your funds transferred, I see my check has been cashed 2 days ago, still no welcome packet after the ATM card came. I guess I cannot log into my account online until i get the welcome packet, despite them cashing me check?