David Pitlyuk

John Chow made a post in regards to a promotion that Citibank is running where you open a savings account (US only) and in 3 months they’ll give you $100. One person commented that they had talked to the customer service rep and verified that just a $1 deposit will do it. As long as your account is in good standing after 90 days, you will get your $100. There are no fees, and there is no minimum. On top of that the account has a 4.65% interest rate on it.

There was a lot of discussion about whether or not there was a catch. Some believed that banks do this sort of stuff all the time in order to generate new customers, and that $100 is nothing for them. Others said there always has to be a catch. The only thing I potentially saw was this term:

I also authorize you to use these consumer reports to consider me for other programs with Citibank. Upon request, you will inform me if a consumer report has been obtained and will give me the name and address of the agency furnishing the report.

I’m guessing in this instance, they can spam you about other Citibank offers they match you with. On the first page of the application there is a box you can check to say you don’t want them to share any information with their affiliates. I’d recommend checking that.

You can apply here, this is not an affiliate link. I actually tried to sign up for a Citibank affiliate program, but for whatever reason they didn’t accept me. For those of you running blogs that want to promote this, consider signing up through CJ and applying for their program. I believe you can make $20 for everybody you get to sign up.

Here are the terms:

$100 offer is only available for first-time Citibank deposit account customers, and will be paid only once to any individual. Persons who currently have or at any time have had a deposit account at Citibank (or any of its predecessor banks) are not eligible. To receive this offer you must apply for and open a new Ultimate Savings Account by 5/31/2007. $100 will be credited to your Ultimate Savings Account within 90 days from the end of the statement period in which your account was opened. Accounts must be in good standing at the time of the $100 credit.

All accounts are subject to approval. Customer must be a citizen or resident alien of the United States (U.S.) with a valid U.S. taxpayer identification number. The amount of any bonus payment will be reported to the IRS as interest earned in the year credited. Persons under 18 years of age are not eligible. Offer may be modified or withdrawn at any time without notice and is not transferable.