Credit Card Finder Comparison Service Australia

Compare

Guide to Citibank Balance Transfer Credit Cards


Posted October 26th, 2009 and last modified January 13th, 2010

A Citibank balance transfer might be a good way to reduce the rate of interest you are paying on credit card debt.


A balance transfer is when you transfer the balance of one credit card onto another card. Usually this is done to take advantage of lower interest rates and to make card management easier. There are a few things you should know before you set up a balance transfer.


Best Citibank Balance Transfer Credit Card*


Combine both low interest and a platinum reward’s program and you have the Citibank Clear Platinum Visa Card – a rare breed of credit card. Enjoy a host of benefits and reward’s without the high rates and fees.

Citibank Clear Platinum Visa

  • 11.49% on purchases and
    20.99%on cash advances.
  • 0.99% p.a. for 6 months balance transfer offer.
  • An $49 (First Year, Save $50) annual fee and $19 additional for every supplementary card.
  • Free International Travel Insurance
  • Access to limited edition entertainment experiences through Visa Platinum Privileges and an exclusive Visa Concierge service.
  • Get up to 25% off on retail shopping, travel and dining through Citibank World Privileges
More InformationApply now for a Citibank Clear Platinum Visa


Citibank balance transfer guidelines:

  • The minimum amount for a balance transfer is $500.
  • Customers who do not currently have a Citibank card can apply for a card and the transfer at the same time. Citibank will need information on the current card and the amount you would like to transfer. Current customers may apply for a balance transfer on line, by fax, mail, or telephone.
  • Requests for a Citibank balance transfer take up to ten business days to process.
  • The maximum amount you can transfer is your available credit limit on the day of the transfer.
  • The actual balance transfer process takes anywhere from five to ten days or more depending on the method you used to make the transfer.
  • Citibank balance transfers are not eligible for rewards points.
  • Your interest rate on a balance transfer is likely to be less then the interest rate on purchases. As such, any payments you make will be applied to the balance transfer or the debt with the lowest interest rate, first.


The last point is important to remember when doing a Citibank balance transfer. What this means to you is that any purchases you make will continue to accrue interest until the balance transfer is paid off. If you are smart you will discontinue use of the Citibank card until the balance transfer is paid in full in order to avoid paying excessive amounts of money in interest. You might consider having a separate card just for purchases because it could take a while to pay off a large balance transfer. If you think you will continually make balance transfers then you may even want to use the Citibank card for that purpose only.


A Citibank balance transfer can help you manage your credit accounts and more importantly save money. It is key that you understand how the interest works and if you are using an introductory offer when it runs out. Be sure to pay your bill on time to avoid losing any of your valuable benefits.



Related posts:

  1. Citibank Balance Transfer
  2. Guide To Citibank Visa Credit Cards
  3. Citibank Credit Cards Exclusive TV Offer – citibank.com.au/save & citibank.com.au/tv
  4. Citibank Clear Credit Card – 2.9% balance transfer for 6 months
  5. Citibank Silver Credit Card – Rewards & 2.9% Balance Transfer for 12 months



Show Comment Form

Add a Comment

Please note: Comment moderation is enabled and may delay your comment.
There is no need to resubmit your comment.


The ANZ Low Rate MasterCardBest Balance Transfer Credit Card Offer

The Bankwest Lite MasterCard is Australia's cheapest credit card offer, giving you the lowest MasterCard purchase rate of just 10.75% p.a. as well as a long balance transfer offer on your existing credit card balance at 1.99% p.a. for 9 months!


Editor's Choice: Our Top Credit Cards


Credit Card Card Details Interest Rate (p.a.) Cash Advance Rate (p.a.) Balance Transfer Rate (p.a.)

Annual fee

Interest free days (up to)

St George Vertigo MasterCard Application
Bankwest Lite MasterCard
Editor's Choice:
Cheapest Credit Card

The lowest stress mastercard, with Australia's lowest MasterCard purchase rate of just 10.75% p.a.
10.75% 21.49% 1.99% for 9 months $59 55 Apply now for the Bankwest Lite MasterCard via the official BankWest website.
More information on the Bankwest website
St George  
Vertigo MasterCard Application
St George Vertigo
Editor's Choice:
Best Bank
Low 2.99% for 6 months (reverts to 11.99%) p.a. interest rate and balance transfer rate, from one of Australia's most respected banks.
2.99% for 6 months (reverts to 11.99%) 20.74% 2.99% for 6 months $55 55
Coles Group Source MasterCard
Coles Group Source MasterCard
The Coles Group Source MasterCard has no annual fee, a 0% p.a. balance transfer offer for 6 months, with a rewards program including savings on fuel and FlyBuys Points19.74%21.99%0% for 6 months$062 Apply Now For The Coles Group Source MasterCard
Read More About The Coles Group Source MasterCard
BankWest Zero Platinum MasterCard
Citi Clear Platinum Visa
Editor's Choice:
Low Interest
An excellent low interest credit card offer with 11.49%interest on purchases and 0.99% for 6 months on balance transfers .
11.49% 20.99% 0.99% for 6 months $49 (First Year, Save $50) 55
BankWest More Platinum MasterCard
Bankwest Zero Platinum MasterCard
Editor's Choice:
No Annual Fee
Excellent introductory offer with a $0 annual fee for the life of the credit card and a 1.99% p.a. for 9 months on balance transfers
16.99% 16.99% 1.99% for 9 months $0 55

Card Types

Card Tips

The Basics


Credit Card Guide
Learn about different credit card concepts.

Popular Articles


Best Balance Transfers
The most competitive 0% p.a. and 'for life' offers of 2009.

Guide to Credit Ratings
Information about your credit file. Find out what you can apply for with good and bad credit.

Rewards Comparison
Australian reward program details including point capping & expiry.

Free Travel Insurance
Credit Cards that include free travel insurance.

Foreign Fees & Charges
International transaction charges from credit card companies.

Calculators

Interest Repayment Calculator
Enter your balance(s) to calculate the interest to pay on your cards.

Balance Transfer Calculator
Input a balance transfer offer to calculate your potential savings.
Credit Card News the latest news & headlines
Compare Credit Cards

Free e-Book

NEW: The Ultimate Guide to Balance Transfers
The Australian Guide to Balance Transfers written by Credit Card Finder
Download our FREE e-book normally valued at $24.95. Find out how you can save hundreds to thousands of dollars on your credit cards via balance transfers.

Enter your email below to receive our Free e-book.



   

Get Free Updates





 

As seen on:

Today Tonight

Today Show

ABC Television





Sky News

Herald Sun

Channel 10

Australian Web Industry Association

Anthill Magazine

Follow Credit Card Finder on Twitter for the latest Australian credit card offers, updates and news.
Follow Credit Card Finder for the latest in credit cards & relevant Australian financial news.



Credit Card Management Tips Credit Card Guides Personal Finance Tips and Advice
Partnered Sites Secondary Credit Card Providers About CreditCardFinder.com.au
Savings Accounts Comparison
Best Credit Cards
Fido Credit Card Information Guide to choosing
a card, and general day-to-day tips on living
with and managing your card
Understanding Credit Understand your options
and what you will pay in interest and charges
Stay Smart Online advice on how
to secure your computer and your
transactions online
Request a copy of your credit file
Reserve Bank of Australia (RBA) statistics
Bank of Queensland Credit Cards Bank of Queensland

Bendigo Bank Credit Cards Bendigo Bank

Credit Union Australia Credit Cards CUA

IMB Credit Cards IMB

Jetstar Credit Cards Jetstar

Macquarie Bank Credit CardsMacquarie Bank

Member's Equity Credit Cards Members Equity

Virgin Credit Card Virgin Credit Cards

Wizard Credit Cards Wizard

MasterCard Credit Cards MasterCard Credit

Visa Credit Cards Visa Credit Cards

Contact Us
About Us
Blog
RSS
Privacy Policy
Sitemap

100% GreenPower Carbon Neutral Website