There's a Citi Priority Checking 50,000 AAdvantage Miles targeted offer, but is it worth it? AAdvantage miles are valuable, not so much for flying American Airlines, but to fly oneworld partners such as JAL First Class, Cathay Pacific First Class, Qantas First Class, JAL SkySuite Business Class, Qatar QSuites Business Class and more.
There are also some requirements to receive the bonus:
- Must make qualifying Citibank debit or ATM card purchases of $750 within the first 60 days after account opening
- Must make at least one qualifying bill payment per month for two consecutive calendar months within 60 days of account opening
- Must enroll by March 31, 2019
- To be eligible, customer must be new to Citibank (cannot have had a consumer checking account with Citibank within the last 180 calendar days)
- Must have a Citi credit card
- Must have a valid W-9 or W-88BEN on file with Citibank, and not subject to backup withholding
Additionally, you'll need to keep an average monthly balance of at least $50,000 in your eligible linked Citi deposit, retirement and investment accounts, otherwise a $30 monthly service fee is charged. And because the terms state that the AAdvantage bonus miles will be credited by Citibank to your AAdvantage account within 90 calendar days from the date you complete the required activities, it could be about 5 months from the time you enroll until the time you receive your 50,000 miles, even if you meet the qualifying spend and bill payment requirements within the first 60 days of account opening, as required.
Finally, don't forget that all bank account bonuses are considered income (unlike credit card bonuses, which are considered rebates), so you'll need to pay taxes on the 50,000 miles earned, whether or not Citi issues you a 1099.
Frequent Flyer mile valuation is subjective; I value our own AAdvantage miles at about 2-2.5 cents per mile, as we exclusively redeem for first class and business class awards. That makes 50,000 miles worth about $1000-$1250, but that's before taking into account taxes, the time to meet the requirements, and the opportunity cost of parking $50,000 with Citi until the bonus posts. In our case it's not worth it for those reasons, especially as we're still able to use targeted offers to earn Citi AAdvantage credit card bonuses that aren't taxed.
If you've previously signed up for the Citi Priority 50K AAdvantage bonus offer, how long did it take after meeting the requirements until you earned the bonus miles?
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