Citibank Personal Credit

• No transaction fees, no cash advance fees and no ATM fees at over 1,200 ATMs throughout Australia.
• Only pay interest on what you spend.
• Make purchases in-store with a Visa debit card, online or over the phone.
• Apply for a chequebook with no cheque fees, because sometimes only a cheque will do.
• Monthly Direct Debit flexibility.
• No need to re-apply for credit.
• Read the terms and conditions

• No frills line of credit.
• Use the account via a Visa debit card.
• Establishment fee to pay when starting off.

How does the Citibank Personal Credit compare for rates and fees against an average credit card? Based on the data from our website this credit card comparison scorecard shows:

		Purchase Rate	Cash Adv Rate	Annual Fee	Bal. Transfer Rate	Bal. Transfer Rate Period
	Citibank Personal Credit	15.59%	15.59%	$99	2.9%	12 months
	The Average Credit Card	17.17%	21.04%	$95	3.04%	7 months

You can transfer from:



• ANZ
• Aussie
• Bank of Melbourne
• Bank SA
• Bankwest
• Coles
• Commonwealth Bank
• HSBC
• NAB
• St.George
• Westpac
• Woolworths

You cannot transfer from:



• Bank of Queensland
• Citibank
• CUA
• IMB
• Suncorp
• Virgin

The Citibank Personal Credit loan is versatile, has plenty of convenient features and boasts some pretty low rates. If you need access to funds whilst travelling (both around the country and the globe) and want to minimise the fees often associated with that, this could be worth your consideration.

Pros

The loan’s flexibility is perhaps its greatest draw. You can use the card as an EFTPOS card, you can apply for a chequebook with no cheque fees, you can make purchases in-store, online or over the phone with a Visa debit card and you have access to emergency funds should you need them. You can also obtain cash from over 2,900 ATMs in Australia without any ATM or cash advance fees (this includes Citibank, St George, Westpac and Bank SA ATMs) as well as enjoy worldwide acceptance at over 820,000 ATMs. The only fees you’ll pay are currency conversion fees if drawing cash overseas.

The card has a reasonable introductory offer and ongoing low 15.59% p.a. rates. The 15.59% p.a. rates on cash advances are especially low compared to other cards and the $99 p.a. annual fee is comparable to other similar cards. Additionally you’ll pay no transaction fees and you only pay interest on what you spend.

Cons

The Citibank Personal Credit is good if it’s flexibility you’re after but doesn’t have much in the way of security features. You do get access to CardProtect insurance but you’ll have to pay for it. You won’t earn any points or rewards with this card and, like any card, it can cost you extra in interest if you’re not on top of monthly repayments. Also be sure that the annual fee is worth your while in terms of what you’ll actually get out of it.

Conclusion

Citibank’s Personal Credit line of credit will best suit the low to mid income earner who gets about and needs some flexible options in how their money can work for them. It will especially benefit those who would like access to cash which is normally not an option with credit cards.