Citi Credit Cards

As a major player in the U.S. long before it came to Australia, Citi came in with heft and expertise, and its offering of credit cards has always been competitive.

Citi has been a stalwart of U.S. banking since the early 1800s so it was only a question of time before it spread its scope abroad. It now has a presence in more than 100 countries. By 1985 Citi came to Australia and now claims a large share of the banking business here. As an innovator in the business – it was the first bank to install an ATM back in 1960 – Citi has always kept up with the credit card race. Its range of cards now includes options such as attractive rewards, low interest rates, low balance transfer offers, online banking, protection safeguards and promotions exclusive to Citi cardholders.

Citi’s balance transfers are a popular choice because of their historically low rates and extended introductory periods compared to other cards available in Australia. The bank requires a minimum balance transfer amount of $500, and each card offers different rates and promotions. You should also note the rates past the promotional period – these can often be much higher than other credit cards whose promotional periods are not as long, and if you think you will continue carrying the debt, the cost savings could be easily eliminated.

No. Anyone that meets their minimum criteria can apply. There is no no need to switch your everyday transaction accounts too.

Yes. Citi have robust online banking, allowing you to carry out everyday tasks like checking your balance, reviewing recent transactions, etc.

Yes. If you have a query, you can call Citi for assistance. You can also do balance checks, make payments, etc. over the phone.

Generally, Citi only allows new customers to transfer balances from other financial institutions and get the benefits of a low interest promotion, but not from one Citi credit card to another. Check the small print on each deal to ensure you are aware of all restrictions before you apply.

On some Citi credit cards there is a fee for balance transfers. As noted above, however, you should be aware 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.

Balance transfer requests generally take 10 business days to process, so if approved you should receive the transfer within two calendar weeks. You should allow extra time for any cheques to be received at the other financial institution (if payments were transferred electronically). You can monitor your account with Citi Online to see when the transfer appears.

There is 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 credit card at Citibank’s Bonus Partners.

Points collected can be redeemed for regularly updated offers and on Citi’s rewards programs. Citi World Privileges is a travel rewards scheme offering preferential treatment and benefits at destinations around the world, including flights, restaurant discounts, hotels, car rentals, retail offers, spa services, adventures and more. Citi Dining, among other perks, offers a complimentary bottle of wine at selected Citi restaurants, in addition to earning bonus rewards points.

As soon as you receive your new Citi credit card with Citi Rewards, 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 to the program’s partner companies.

Citi Rewards include retail gift cards, travel and adventure, outdoors and fitness pursuits, homeware, 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.

Some cards offer rewards from specific companies: with the Citi Emirates Credit Card you earn Skywards 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 Citi credit cardholders include online shopping discounts, the Dining Program and the Wine Cellar.

Assuming you have all your details nearby, the online application process should take about 10 minutes to complete, and you will be notified of Citi’s response in minutes.

You can apply for a Citi 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 particular card. Read our review or click on the 'Application’ button to discover the minimum required for the card you want to apply for.

To apply online you will need to provide your full name, contact details, date of birth and your employment details. For balance transfers you need to provide details of your current account (the one you want to transfer from), your financial situation including income and expenses, and, if you are self-employed, you need to supply contact details for your accountant.

Having all the relevant information and providing it clearly and correctly will help the application process. Make sure you give a contact number where you can be easily contacted in case Citi requires any additional information (and be prepared to answer calls from numbers you may not recognise). Inform your pay-roll department, or your accountant if you are self-employed, that Citi will be in contact to confirm your income, so all the information is prepared in advance.

Citi 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. It also provides a comprehensive range of credit cards.

Citibank originated in New York in 1812 with the creation of the City Bank. In 1865 it became part of the U.S. 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.

At the same time, it was at the forefront of reducing costs and offering something extra to the customer. In 1960, First National City Bank – renamed Citibank 16 years later – installed a Bankograph, the precursor to the now-ubiquitous Automatic Teller Machine, or the ATM. The bank realised that customers wanted to be able to access their account any time of the day, any day of the week, so during the 1970s, along with other banks, created the card technology for use with modern ATMs.

Today, Citibank and parent company Citigroup form one of the world’s major financial players, with 200 million customers in more than 140 countries, and is the third largest bank holding company in the United States.

Citi in Australia

'Citibank’ 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, Adelaide and Brisbane. The bank employs approximately 2,000 Australians and, along with Citigroup, had over 1 million customers across the Australian and New Zealand markets by 2012.