**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**FORM      10-K**

**ANNUAL      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES      EXCHANGE ACT OF 1934**

**TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES      EXCHANGE ACT OF 1934**

**Citibank      (South Dakota), National Association**

**on      behalf of**

**Citibank      Credit Card Master Trust I**

| UNITED                STATES OF AMERICA                                                     |   | 46-0358360                                          |
|---------------------------------------------------------------------------------------------|--------|-----------------------------------------------------|
| (State                or other jurisdiction ofincorporation                or organization) |   | (I.R.S.                Employer Identification No.) |

| 701                East 60th Street, NorthSioux                Falls, South Dakota |  57117               |
|------------------------------------------------------------------------------------|---------------------------|
| (Address                of principal executive offices)                            | (Zip                Code) |

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**PART      I**

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**Item      1. Business.**

**Item      1A. Risk Factors.**

**Item      1B. Unresolved Staff Comments.**

**Item      2. Properties.**

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**Item      3. Legal Proceedings.**

**Item      4. Submission of Matters to a Vote of Security Holders.**

**PART      II**

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**Item      5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer      Purchases of Equity Securities.**

**Item      6. Selected Financial Data.**

**Item      7. Management's Discussion and Analysis of Financial Condition and Results      of      Operation.**

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**Item      7A. Quantitative and Qualitative Disclosures About Market      Risk.**

**Item      8. Financial Statements and Supplementary Data.**

**Item      9. Changes in and Disagreements with Accountants on Accounting and Financial      Disclosure.**

**Item      9A. Controls and Procedures.**

**Item      9B. Other Information.**

**PART      III**

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**Item      10. Directors, Executive Officers and Corporate      Governance.**

**Item      11. Executive Compensation.**

**Item      12. Security Ownership of Certain Beneficial Owners and Management and Related      Stockholder Matters.**

**Item      13. Certain Relationships and Related Transactions, and Director      Independence.**

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**Item      14. Principal Accounting Fees and Services.**

**PART      IV**

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**Item      15. Exhibits, Financial Statement Schedules.**

|   | 31.1 | Certification                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and relevant                rules and regulations of the                Commission. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 99.1 | Report                issued by KPMG LLP concerning CBSD's compliance as Servicer with                Section                3.04(b) of the Pooling Agreement. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 99.2 | Report                issued by KPMG LLP concerning CBSD's compliance as Servicer with                the                servicing requirements of the Pooling                Agreement. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 99.3 | Annual                Compliance Certificate of the Servicer delivered pursuant to Section                3.05                of the Pooling Agreement. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 99.4 | The                Monthly Certificates containing information relating to the Receivables                and the Accounts for the Due Periods ending in January 2006 through                December 2006 are incorporated by reference from the registrant's                Current                Reports on Form 8-K filed with the Commission on February 15, 2006,                March                15, 2006, April 17, 2006, May 15, 2006, June 15, 2006, July 17, 2006,                August 15, 2006, September 15, 2006, October 16, 2006, November 15,                2006,                December 15, 2006, and January 16, 2007,                respectively. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 99.5 | The                registrant's Current Report on Form 8-K filed with the Commission                on                February 5, 2007 containing financial information with regard to                the                Trust, the Receivables and the Accounts as of, and for the year ended                in,                December 2006 is incorporated by                reference. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**SIGNATURES**

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**CITIBANK      (SOUTH DAKOTA),**

**NATIONAL      ASSOCIATION,**