Citi Select Credit Card – Review & Application
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Citi Select is a brand new launched credit card from Citibank – the first ever credit card to be launched with Visa Signature in Australia
In short, this credit card is offering a new breed of services and benefits not offered before in the Australian credit card market.
With Citi Select you get to craft the lifestyle rewards of your choice with an unmatched offering of rewards tiers.
What Citi Select is All About
If you crave the lifestyle of the rich and famous with unparalleled services and rewards then this card will bring you as close to it as possible, provided you have the funds. You get to benefit from:
- Premium VIP servicing,
- Exclusive invitations to one-off events,
- Dream destinations
- Travel benefits such as Citi Rewards point redemption for multiple airlines and much more.
| Product Name | Citi Select | |
|---|---|---|
| Balance Transfer Rate | 4.9% p.a. for 9 months | |
| Interest Rate on Purchases | 20.74% p.a. | |
| Offer end date | 20 November 2013 | |
| Annual Fee | $700 p.a. | |
| Interest Free Period | up to 55 days | |
| Interest Rate on Cash Advances | 21.24% p.a. | |
| Minimum Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|
$15,000 | |
| Max Credit Limit | $100,000 | |
| Minimum Monthly Repayment | 2% | |
| Credit Card Type | Visa | |
| Late Payment Fee | $10 | |
| Complimentary Travel Insurance | Yes | |
| Available to Temporary Residents | No | |
| Joint Application | No |
The following rates and interest are applicable at the time of publication.
- Balance transfer rate of 4.9% p.a. for 9 months
- Standard interest rate of 20.74% p.a.
- Cash advance rate of 21.24% p.a.
- Annual card fee is $700 p.a.
- Up to 55 days interest free shopping (conditions apply)
Soak Up the Luxe with Priority Pass Membership
The Priority Pass membership will give you access to 600 airport lounges around the world. Travelling with the luxe comforts of access to premium services will be fun. Plus you also get to enjoy:
- Fast Track immigration services
- Special deals for accommodation at the world’s most luxurious hotel properties
Great Citi Select Features
A credit card that isn’t short of features is always welcome in my pocket. When you analyze the offers from this card you’ll soon see a wide range of extra features not offered by any other credit card in Australia at this present moment in time. This fact alone sets the Citi Select miles above the competition right now.
To be able to get your hands onto one of these cards you need to be 18 years of age at a minimum, and earn $120,000/year.
Rates , Fees and Interest
Citi Select Benefits
The benefits of this credit card from Citibank just keep coming. If you have the income to apply for one of these cards, then check out what’s in store for you:
- You can earn 2 Citi Rewards points for every $1 you spend in Australia and up to 5 Citi Rewards points for every $1 you spend in Overseas
- Receive extensive rewards for travelling; access to over 600 airport lounges, fast immigration, select hotel partners, select airline partners, great deals on flights, pay with your accumulated points and much more
- You get the option to join Citi Qantas Rewards with the ability to transfer your points to the prestigious Qantas Frequent Flyer account each month
- Get access to expert consulting services for your investments and banking needs via Citibank’s Citigold centres
- Enjoy Citi’s premium services worldwide
- Receive top notch customer service
Redeem Your Rewards Points with Select Partners
The following select airlines rewards can be accessed by Citi Select card owners to give you the best there is in services when you travel.
- Asia Miles
- Singapore Airlines’ KrisFlyer program
- Velocity Rewards via Virgin Australia and V Australia
- Qantas Frequent Flyer program
Read the Citi Select terms and conditions.
| Minimum Income | $120,000 | |
|---|---|---|
| Minimum Age | 18 years of age | |
| Available to Temporary Residents | No | |
| Credit Rating Requirement | Good | |
| Min Credit Limit This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure. | $15,000 | |
| Max Credit Limit | $100,000 |
| Annual Fee | $700 p.a. | |
|---|---|---|
| Minimum Repayment | 2% | |
| Late Payment Fee | $10 | |
| Over Limit Fee | $40 | |
| Overseas ATM Withdrawal | $5 | |
| Gambling Transactions Allowed | No | |
| Additional Cardholder Fee | $0 | |
| Number of Additional Cardholders | 4 |
Pros
- Travel benefits such as Citi Rewards point redemption for multiple airlines.
- Balance transfer rate 4.9% pa for 9 months.
Cons
- This card has a minimum income requirement $120000. This is high and the applicants they ar trying to attract is reflected in the high annual fee of $700 too.
- An outstanding amount that has been brought over to this card using a balance transfer and not paid off will be charged at the cash advance rate of interest.
- The 20.74% interest rate of purchases and the 21.24% cash advance rate of interest are quite high.
Read the Citi Select terms and conditions.
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