Citibank’s Basic Checking Account Promotion: Avoiding Monthly Fees

There are many individuals who want to open checking accounts but they are hesitant to do it due to the monthly or annual fees. Everything today has fees thus many people would look for a bank or company that would offer affordable and sometimes no fees at all. One of the banks that people can consider is Citibank. Many are familiar with this bank because it is one of the biggest and well-known banks all throughout the world.

Citibank’s services vary within the scope of their financial institution. They cater to all financial needs which make them a good company for people to go to. It is very important to select Citibank especially for those who really need the right financial solutions or needs. One of the services they offer is the checking account.They even have wide varieties or selection of the checking accounts that they can apply for.

One of the checking accounts people can choose from is Citibank’s basic checking. They even have a promotion with this account regarding monthly fees. When holders of the checking account will be able to make a direct deposit and a bill payment for the month then there will be no monthly fees. Another option for holders to avoid such fees is to keep and make a $1,500 balance combined with basic checking. This is how easy it is for holders or account owners to save money by avoiding monthly fees.

For those who cannot keep up with the promotion then they will have to pay $10 for the monthly fees and the maintaining balance of the checking account is $1,500. To those who are interested then they can apply and open their own checking accounts because there is no opening deposit. So for those who want the simple kind of account then they should try out for Citibank’s basic checking account.

Up to $200 Cash Back Promo from Citi Dividend Platinum Select Card

Citi Bank is offering one of the best cash-back rewards in the country today. When you sign up for their promotional offer from the Citi Dividend Platinum Select Card, you get the chance to earn not just $100, but even up to $200 cash bonus. Here’s how to earn this amazing treat:

1. Open an account for the Platinum Select card either online or in person. You must be at least 18 years of age in order to be eligible for the application, and must possess a valid Social Security Number.

2. Fill up the application form online. Once you’ve sent in your data, Citi Bank will require you to wait for a few days in order to receive an approval through e-mail.

3. You will be sent an overall summary of the account, for which you can choose to make any add-ons or do necessary changes before final closing. If all looks good to you, you can sign the application, for which Citi Bank will approve.

4. Once everything is done, you’re now ready to start using your Citi Platinum Select card and earn those rewards!

About Terms and Conditions

The Platinum Select card boasts of having the most number of ways in which one can earn points for the cash bonus. For example, in just the first three months when you start using your credit card account, you need to have a total purchase amount of $500. In turn, this will guarantee you a cash back reward of $100.

To get even bigger rewards, make a total of $1,000 in purchases over this same period of time and earn $200 cash back.

Another great way for customers to earn bigger rewards is through Citi Bank’s quarterly offer of up to 5% cash back. For every quarter of the year, Citi Bank chooses a popular category in which this reward is applicable. For example, the start of this year and up until the end of March lets one enjoy the benefits of buying from health care stores, utilities, and fitness clubs. From April 1 to June 30, 2012 you will get the 5% bonus when you make purchases at any Home Depot or Home Furnishing stores. Since the category changes every three months, you just need to check Citi Bank’s website every now and then for updates.

For other purchases, a 1% cash back is reflected into your account. With this feature, you can get as much as $300 annually in cash rewards.

Ownership of this credit card does not require any annual fee. It also lets the customer enjoy a 0% introductory APR for the first year of its use. After this period, the APR will be set at a variable average of 12.99% – 22.99%.

No other bank offers this much in cash back rewards. To get this amazing offer, open a Citi Platinum Select card now.

CitiBank Increases Monthly Fees on Checking Accounts

The news that Bank of America is planning to charge monthly fees on debit card usage was a warning sign of banks charging more to its consumers. Indeed the revolution begins as Citibank recently announced that they were raising their fees on checking accounts.

Their EZ Checking Account which normally had a fee of $7.50 a month, is now charging double at $15 monthly. Previously this fee would have been waived if the consumer reached the $1,500 balance, but now even this minimum amount has been raised to a hefty $6,000.

The monthly fee of their basic checking account is also set to be increased from the usual $8 to $10. To rid yourself of the fee, you have to have a minimum balance of $1,500 or sign up for direct deposit and online bills payment.

The Premium account fees will thankfully remain at $20 per month, however the minimum balance is also raised very much higher to a $15,000 from the usual $6,000.

Consumers who have received the notice are not at all happy with the sudden increase in rates, and most of them are planning to close their accounts altogether and switching to a bank with lower fees, or to a local credit union where most bank fees do not apply.

This new set of fee increases is scheduled to start on December 9, 2011, giving their customers time to digest the new fees or close their account to move to a cheaper bank. It appears that more and more banks are looking for ways to recoup their losses by charging more to their customers. It won’t be long before other big banks will begin to follow suit. The question is whether consumers will eventually adapt to the price increases, or if they will move away in disgust. Only time will tell how consumers decide to react on this matter.

Win $10,000 By Saving With CitiBank

Want to win $10,000? All you have to do is save. Citibank offers an interesting deal of giving you a chance to either win $1,000 weekly, or the grand prize of $10,000.

First, you must have both a checking and a savings account or money market account with Citibank. Once you have both, you’re ready to proceed with the following steps:

1. Set up their AutoSave service. It’s a free service that helps you save even without thinking or doing anything. It sets up recurring transfers from your checking account to your savings or money market account.

2. In order to set up the AutoSave service, click on “Transfers”

3. Select “Set Up A Recurring Transfer”

4. Choose the accounts you want to transfer money to and from

5. Choose the duration and frequency of the transfers. At any time, you have the capacity to change the duration and how much you plan to save, including the frequency of transfers)

6. Now that you have your AutoSave feature turned on, transfer at least $25 to your savings account or money market account in order to be granted one raffle ticket.

It’s that simple! Not only can you automatically save up, but you can also get the chance to win $10,000 without doing much.

Now, if you’re not a CitiBank customer and you already have a savings and checking account in another bank, guess what, you’re still eligible to join. Apparently, CitiBank has included non Citibank customers in their fine print.

Eligible participants (18 years old and above, and a citizen of one of the 50 states), may enter without becoming a Citibank customer or using the Autosave feature by sending in their entries via mail. Hand print your complete full name, complete address, phone number, email address, and date of birth on a 3″ by 5″ envelope and mail it to Citibank. Be sure to include a postage stamp with that. One mail is one entry.

This promotion started last July 1, 2011 and will end on September 9, 2011. If this seems fairly easy to do, go right ahead and do it. Without even thinking about saving, you could already start planning what to do when your $10,000 arrives.

Secured Citibank Credit Card Review – Build Credit

Citibank is offering a secured credit card (plus 18 month Certificate of Deposit) created to help you build credit.

Start using the new Citi Forward® Card and earn a .25% APR reduction when you use your credit wisely.

Many people looking to build credit either have no credit or have very poor credit and need a card that is easy to qualify for.

Citibank says that this card is simple to qualify for, which means if you qualify you can use it as a tool to help rebuild your credit.

Keep in mind that just owning the Secured Citibank credit card will not build good credit.  It is your spending habits and actions that will determine how your credit ends up.

Here are some details of this offer:

  • There is an annual fee of $29.00
  • Purchase APR: 18.24% Variable
  • Balance Transfer APR: N/A
  • $0 Liability on unauthorized charges
  • You may become eligible for an unsecured Citi® Platinum Select® MasterCard® After 18 months
  • Credit limit based on CD deposit (see below)

See more easy to qualify credit cards.

How the Credit Card + Certificate of Deposit work.

You are allowed to deposit $200 up to $5,000 into a CD (Certificate of Deposit). Your credit card limit then becomes equal to the amount of money in your CD. Your credit card account information will be reported to the three main credit bureaus plus you’ll earn money with your CD.

To get more information and see the fine print go here.

CitiBank Credit Card Increases Interest Rate to 29.99%!

Guess what I just got in the mail today? A letter from CitiBank (South Dakota) telling me about the changes to my credit card account terms. This is what it says:

Dear ***** ******

We are making changes to your account terms.

To continue to provide our customers with access to credit, we have had to adjust our pricing. The terms of your account will be changing. These changes include an increase in the variable APR for purchases to 29.99% and will take effect November 30, 2009. As always, you have the right to opt out and pay down your balance under your current terms. If you opt out, you may use your account under the current terms until the end of your curent membership year or the expiration date on your card, whichever is later. At that time, we will close your account.

If you accept these changes, we have designed a program where you can earn interest back each month that can help offset the increase in your purchase APR.

Earn interest back every month

Here’s how – make your payment on time every month.

Each month you do, you will receive a credit on your billing statement equal to 10% of your total interest charge on purchase balance. This can help offset the increase in your purchase APR. Start earning interest back in December and January, and you will see the full credit on your statement no later than February 2010 and monthly after that.

If in any month you do not pay on time, you may not be eligible to continue to participate in this program.

We reserve the right to change or end this program with 30 days’ prior written notice. Please see the back of this letter for further details.

I’m not going to bore you with the rest of the letter but here are my thoughts.

29.99%, holy crap! Do the credit card companies really expect people to accept these terms? I know that I will be paying down that credit card by the end of the year and never using it again. Its very important that you DO NOT close your credit cards, no matter how upset you may be. Building a good credit history takes time and, well, a history. So if you close your credit card, then you lose that history for however long you have been building it with that particular card.

It seems like the credit card providers have forgotten about customer service, keeping their customers happy, providing a quality product, but instead it seems like they only care about the future credit laws that are coming out as early as December 1st. It will be interesting to see how this plays out. I have 8 credit cards (only use 3 of them and have very little debt with them), but I do expect to get more of these letters. Hopefully there will still be a credit card provider out there who actually cares for their customers and not charging the he*l out of them.

That’s it for now!