[CA, In Branch Only] Citi Checking $2,500 Bonus (Requires $300,000)

Offer at a glance

Maximum bonus amount: $2,500

Availability: CA, in branch only

Direct deposit required: No

Additional requirements: Deposit $300,000 by end of second month, maintain until end of third month but in different accounts (See below)

Hard/soft pull: Soft pull

ChexSystems: Yes

Credit card funding: None, but can fund up to $1,000 with a debit card

Monthly fees: $12, avoidable

Early account termination fee: None

Household limit: None listed

Expiration date: 6/30/26

The Offer

No direct link to offer, in branch only at California locations.More information in this comment.

Citibank is offering a bonus of $2,500 when you open a new checking account and complete the following requirements:

Fund with a minimum of $300,000 by the end of the second calendar month following the month of opening

Maintain during the third calendar month after account opening (a) $10,000 in the Regular Checking account and (b) $290,000 in another Eligible Account (new Citi saving or new Citi Personal Wealth Management Account)

The Fine Print

(1) Open a Regular Checking Account in branch and enroll, (2) Fund a minimum of $300,000 by the end of the second calendar month following the month of opening, (3) Maintain during the third calendar month after account opening (a) $10,000 in the Regular Checking account and (b) $290,000 in another Eligible Account, which can be either a new Citi Savings Account or a new Citi Personal Wealth Management Account, (4) Bonus is paid at the end of the fourth calendar month after account opening.

All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Regular & Access Checking fee waived:

in the month of account opening and for 3 months after account opening or

each month the account has $250+ in Enhanced Direct Deposits

Early Account Termination Fee

In the past, Citi has not charged any ETF, and none is mentioned for this offer.

Referral Bonus

You can refer people and if they sign up and complete the requirements you will get $100.The person being referred does not get an additional bonus, but they will get the standard bonus (e.g $325/$750/$1,500).Please do not share your referrals in the comments below, but you can use them in this linked thread.

Our Verdict

This is similar to the other Citi checking deal in that you can stack with Citi Gold, Citi 3.75% savings etc.

Bonus itself is good as the hold period is basically one month if you time it well.Obviously annoying having to go in branch and most people either don’t have $300,000 liquid to move around or don’t want to use their time for a relatively small bonus.

Hat tip to reader RM

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Frequently Asked Questions

Certainly. Unlike personal loans, you won't face any penalties for settling your balance ahead of schedule. However, it's crucial to keep in mind that if your credit card comes with a 0% introductory offer, it's essential to clear your balance completely before the 0% promotion expires and interest charges apply.

However, you can include additional cardholders, each with their own card. While sharing the single credit limit, the primary cardholder remains responsible for settling the debt.

Potentially, yes. Credit card APRs are typically variable, allowing lenders to change rates, impacting your monthly payments. Additionally, be mindful that introductory 0% offers can lead to higher interest rates once they expire. So, it's wise to clear your balance before that happens, if feasible.

Indeed, credit builder cards exist for those with less-than-ideal credit scores. These cards offer lower credit limits (typically £150 to £1,200) and higher interest rates. Responsible use, including full and on-time payments, can gradually boost your creditworthiness, potentially opening doors to better credit card offers down the line.