Monthly Archives: October 2015

Bonus Mile Cards Are A Great Tool For Financing Projects

Do you hold a CitiBank AAdvantage Platinum Mastercard? How would you like to earn 50,000 AAdvantage Miles? CitiBank is now offering up a hefty bonus making this a top rewards card, worth about $600 to anyone who has the CitiBank AAdvantage Platinum Mastercard and is willing to open up a Citigold checking account, as well as meeting other requirements. We reached out to the editorial team from the best credit cards channel and they identified this as their top card offer for the rest of 2015, even better, none of the requirements are hard to meet.

To apply for this sweet bonus, visit http://banking.citibank.com/cbol/DM_codeEntry.htm. There you will see an entry box to input an invite code, here is where you enter in special offer code 42ERCWNQU6. This offer only holds up until December 31st, 2015, so if you are interested, do not wait to long, or this offer may disappear. The offer has a few requirements, but nothing to steep. For starters you must use $1000 on the debit card with in 60 days of opening it, and you must also do a bill pay for 2 consecutive months.

Now the dirty details. For one this account, the Citigold checking account has one of the highest bank fees I have ever seen, it carries a $30 monthly fee, though this fee is waived for the first two months. Now you can totally escape this fee and still walk with 50,000 AAdvantage Miles. Simply perform all the needed steps to obtain your bonus points. Once you have completed all the steps involved, simply downgrade to a basic checking account, which does not have this fee, though you will be required to do direct deposit and also to make use of bill pay. You can also opt to close down the account after you make use of your 50,000 AAdvantage Miles.

If you are worried about not having enough cash on hand to fund opening the account you do have options. CitiBank allows you to fund your checking account with a Visa Or a Mastercard, upwards of $100K. In order to make this happen you must fax or snail mail to them an authorization form. You can use any Bank Of America, Barclay, or Citi card to fund this without it being considered a cash advance, any other card will likely be considered a cash advance.

You likely will receive a 1099, since Citi cuts a 1099 on any bonus exceeding $600. that 50,000 miles may trigger a 1099, but it is not yet clear how much Value CitiBank places on those 50,000 miles. Just be prepared in case there are any tax ramifications involved with this offer, as you do not need trouble with the IRS.

All in all this is a rock solid offer. They do not require you to do too much to receive that 50,000 miles. Yes the checking account comes with a hefty fee, but that fee is waived for 2 months, so you should be able to complete the offer, then simply downgrade the account or close the account out. Pure profit, easy terms to meet. This could go a long way towards offsetting holiday expenses once you cash in your miles. You could also opt to use those miles for yourself.

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