How to get rewards even if you don’t have a credit card.
Air travel miles and cash back aren’t just perks for credit-card holders. Debit-card users can get in on the action too.
Citibank C, +0.73% is considering expanding a program that gives customers rewards for opening an online-only checking and savings accounts, Stephen Bird, head of Citi’s consumer banking division, told a recent conference in New York. One potential way of doing this: Offering debit card rewards to Citi credit card holders.
Bird said that Citi could work with partner companies such as American AirlinesAAL, -1.45% to offer rewards, according to PaymentsSource.com. (A spokesman for Citi said the company has no further comments on Bird’s statement about expanding the program.)
Citibank already offers the chance to earn rewards with deposit accounts via its “ThankYou” rewards program, which lets customers use points for travel rewards, gift cards and cash back.
Unlike credit-card rewards, they’re not based on how many transactions customers make each month; rewards are earned after milestones like linking a checking and savings account, completing bill payments or making a direct deposit each month.