I logged on my CITI Costco card account, noticed a link to direct deposit you annual rewards into your bank account. As I started down this path reading the fine print, I would have given them permission to gather all my info from my bank accoubt. No doubt this would be used for marketing. I declined of course, read the fine print. Felt very sleazy.
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Interesting. I’ve had that card for years and have never heard about that.
I did a little research and found that it’s a relatively new thing, and your reward has to be over $300 to have the direct deposit option. They need to allow that option for ANY reward balance. Seems ridiculous that you have to take a paper check to a physical location.
Can you provide some of the verbiage from Citi on this policy?
Upon your request, authorization and validation, the Verification Service will retrieve and present your financial information from an external financial institution’s website (“3rd Party Site”). Information you provide and account information retrieved in connection with your use of the Verification Service is subject to the Citibank, CGMI and related third-party privacy notices and policies as applicable to your Citi account(s). “You” means the Citibank or CGMI customer using Citi® Online or the Citi® Mobile App to perform certain transactions using the Verification Service. “We” and “us” mean Citibank, CGMI, and its or their third-party service providers and clearing brokers for your Citi account as applicable.
When I first joined Costco many moons ago, I thought it was ridiculous to have to wait a year to get a return. I still do, and I shy away from using such credit cards. One thing that I did find out early on re: Costco’s check was that you don’t have to spend the entire amount, they’ll give you change in cash back. I used to be under the impression that you had to spend it all, that being back in the family times when I bought a lot more at Costco and endured their lines much more often than I do now.
I just go to the service desk and cash my check.
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