When I was going on a rampage of apps I opened a PNC Savings that's 2.35% w/o much hassel. Droipped $25 into it and it's earning even at that low balance.
On the 2nd/3rd/4th apps I was looking into I opted to "fund it later" instead of ending up w/ 5 more deposit accounts that I won't ever use they auto close them within 30 days w/o a fee. Worked well for 1 out of the 4 I was working on. Citi though? meh... It's more of a meh/hate relationship.
Well, that's all fine and good. I've been iffy on which and IF I open any new Mastercards. What can I say? Perhaps CapOne left a bad taste in my mouth. I like rewarding those who reward me.
If you're thinking about applying for DC, you could get a card with a nice bonus and PC after a year...something like AA Platinum Select or TY Premier.
Depending on how you use URs, that might give a nice boost to the lifetime value you get from the account. There are many 2%+ cards and DC is about to lose most of it's protection benefits.
Not worth it in my book.
DC will soon lose all protections and perks of a credit card (price rewind, purchase protection, extended warranty, etc, etc) and using it after Sept 21st is similar to using a debit card (No, Citi will *not* necessarily take care of fraud charge despite calling the card 'credit card', I had to pay for fraud after wasting hours with Citi's CSRs and gave up).
The deposit account has a very mediocre interest rate (quite a bit of options above 2.5% now, check DOC's list).
Citi is well known for their customer service (whenever you actually need them, they will do nothing but wasting your time and making the matter worth, that's exactly why I decided to pay them for the fraudulent charge instead of wasting more of my life with Citi).
All added together to come down to the buttom line that you shouldn't really bother unless you'd love to do all these:
1. waste time and energy with useless CSRs
2. collect less interest on quite a bit of savings than you could
3. use a debit card for all your purchases
Received a similar offer from Citi for my card except it's for an extra 25% points on all earnings on the Citi Premier.
A fraction of a percent of extra cash back or points isn't worth moving a bunch of money around IMO unless you planned on using Citi long term anyway. Even at 20k spend a year that extra 0.5% is only $100, which is lower than most sign up bonuses out there (which you can get with less effort and don't have to move money). So this is more sparkle than substance.