Citibank Credit Card Offers: The Lowdown

Citibank is one of the world’s biggest credit card providers, offering a choice of competitive card deals for the Australian market. The range of cards presented on our comparison table include different deals with a variety of attractive features, rewards, low interest rates, low balance transfer offers, internet banking, protection safeguards and promotions exclusive to Citibank cardholders.

Citibank’s History

Citibank has a long history – the bank’s originated in New York in 1812 with the creation of the City Bank. In 1865 it became part of the US national banking system and was re-branded as National City Bank of New York. By the start of the 20th Century, the bank was firmly established as one of America’s largest financial institutions, and had begun to spread its influence to the international banking markets.

In 1976, First National City Bank was renamed Citibank, and in the same decade the bank was also involved in developing Automatic Teller Machine, the now-ubiquitous ATM. The bank realised that customers wanted to be able to access any time of the day, any day of the week, so during the 1970s helped create the card technology for use with ATMs.

Today, Citibank and parent company Citigroup form one of the world’s major financial players, with 200 million customers in 100 countries, and is the third largest bank holding company in USA.

Citibank in Australia

Citibank is currently one of the largest international banks operating in Australia, and was one of the first foreign banks to be granted a banking licence in the country. Citibank Australia opened in 1985, and today has its headquarters in Sydney with major offices in Melbourne, Perth, Booragoon and Brisbane. The bank employs approximately 1,200 Australians and, along with Citigroup, claims around one million customers across the Australian and New Zealand markets.

Citibank provides its Australian customers with the full range of banking services including personal accounts, savings, term deposits, home loans, insurance, investments, online banking and other financial services. Citibank also provides a comprehensive range of credit cards to suit different financial requirements and lifestyles. The Citibank credit cards presented on our comparison table come with an attractive mix of rates, fees, rewards schemes and benefits, each designed to suit a different type of cardholder.

Citibank Balance Transfers

Amongst Australian credit cards providers, Citibank has earned a reputation as one of the best for balance transfers with deals regularly offering lower rates for longer periods. Citibank balance transfers are a popular choice because of the low rates and extended introductory period, allowing users to save money on interest and manage debts on a single credit card. The bank requires a minimum balance transfer amount of $500, and each card offers different rates and promotions. Check out the deals on our comparison table, comparing fees, rates and transfer periods to find the card to fit in with your financial plans.

Citibank Rewards

Citibank rewards their credit card customers with a choice of rewards programs. Cardholders gather points every time they use their card for everyday payments, and points are automatically earned on any direct debts linked to Citibank cards. Extra points are earned when you shop using a Citi Silver, Gold or Platinum Credit Card with Citibank’s Bonus Partners.

Points collected can be redeemed for regularly updated offers and on Citibank’s rewards programs. Citibank World Privileges is a travel rewards scheme offering preferential treatment and benefits at destinations around the world, including flights, restaurants discounts, hotels, car rentals, retail offers, spa services, adventures and more. Citibank Dining is an initiative to enjoy fine dining at selected Citibank Insiders restaurants, enjoy a complimentary bottle of wine and earn bonus rewards points.

The Citibank Q&A

Q: Can I transfer a balance from another Citibank credit card? A: Generally, Citibank allows new customers to transfer balances from other financial institutions but not from one Citibank credit card to another. Check the small print on each deal to ensure you are aware of all restrictions before you apply.

Q: Do Citibank charge a fee for balance transfers? A: Citibank charge no fee for balance transfers, and you can enjoy low interest rates while repaying your debt for the transfer period. You should be aware, however, that at the end of the balance transfer period your rate will revert to a higher interest rate, normally the purchase or cash advance rate, and any outstanding debt will be charged accordingly.

Q: How long does it take for a Citibank balance transfer? A: Citibank balance transfer requests generally take 10 business days to process, so if approved you should receive the transfer within two weeks. You should allow extra time for any cheques to be received at the other financial institution. You can monitor you account with Citi Online to see when the transfer appears.

Q: What is the Citibank World Privileges program? A: Citibank’s rewards program provides cardholders access to a world of special offers and benefits. Users earn points by using their credit cards, gaining extra points on transactions with Citibank’s partners, and redeem these points for special offers. Benefits include discounts on dining, shopping, spa and health, sports, travel and other bonuses.

Q: What is Citi Rewards? A: As soon as you receive your new Citibank credit card you automatically gain complimentary membership of the Citi Rewards program and can start enjoying a range of redeemable products. Every dollar you spend on your card earns a point, and you get extra points if you are a Gold or Platinum cardholder or make payments with the program’s partner companies.

Citi Rewards include retail gift cards, travel and adventure, outdoors and fitness pursuits, homewares, electronics, cash back and annual fees, and more. One of the benefits of Citi Rewards is that you have the option to use cash with your points, so unlike other schemes you don’t necessarily have to wait until you have earned enough to claim your chosen reward.

Q: What other types of rewards are on offer? A: Some cards offer rewards from specific companies: BP-Citibank Credit Card features cash back on petrol purchases, and Citibank Emirates Credit Card you earn Skyward points on every dollar spent, for example. The Citi Platinum and Citi Select credit cards offer access to the Qantas Rewards frequent flyer program.

Other rewards available to Citibank credit cardholders include online shopping discounts, the Dining Program and the Wine Cellar. Check out the deals on our comparison table to find the card with the rewards to suit your lifestyle.

Q: How long does it take to apply? A: The online application process is quick and easy. It should only take 10 minutes to complete, and you will be notified of Citibank’s response in minutes.

Q: Who can apply for a Citibank card? A: You can apply for a Citibank credit card if you are over 18 years old, are a citizen or resident of Australia, and meet the specific minimum income required for the card. Click on the 'Apply’ button to discover the minimum required for the card you want to apply for.

Q: What is required to fill out an application? A: To apply online you should make sure you have all the relevant information available. You will need to provide your full name, contact details, date of birth; your employment details; for balance transfers you need to provide details of your current account; your financial situation including income and expenses; and if you are self-employed you need to supply contact details for your accountant to corroborate your .

Q: Is there a way to improve my application? A: Having all the relevant information and providing it clearly and correctly will help the application process. Make sure you give a contact number that you can be easily contacted in case Citibank requires any additional information. Inform your pay-roll department, or your accountant if you are self-employed, that Citibank will be in contact to confirm your income, so all the information is prepared in advance. Once you have all you details at hand, have found the deal that suits you, simply click the 'Apply’ button and start the easy online application service.