Citibank Clear Platinum Visa Card – Details & Application
Pros
- One of the only cards currently offer a 2.9% balance transfer for 12 months
- Includes complimentary travel insurance and purchase protection
Cons
- At the end of the balance transfer period, the interest rate reverts to the cash advance rate
- Being a platinum card, there is a higher annual fee than other low interest credit cards in the market. It is however one of the lowest annual fees for a platinum credit card
Overall
One of the most competitive credit card offers currently available in the market. It's important you manage your spending wisely, and keep track of your balance transfer to make the most of this credit card offer.
Interest Rates, Fees & Charges
| Balance Transfer Rate |  |
2.9% p.a. for 12 months |
|---|---|---|
| Interest Rate on Purchases | |
11.99% p.a. |
| Annual Fee | |
$99 |
| Interest Free Period | |
up to 55 days |
| Cash Advance Rate | |
21.74% p.a. |
| Card Type | |
Platinum |
| Minimum Income Requirement | |
$35,000 p.a. |
| Credit Card Type | |
Visa |
| Rewards Program | |
Yes |
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, now offering 2.9% p.a. for 12 months on purchases and balance transfers!
Overview of the Citibank Clear Platinum Visa:
- 11.99% p.a. on purchases2
- 2.9% p.a. for 12 months on balance transfers3 cash advance rate after 6 months
- A $99 annual fee and $19 additional for every supplementary card.
- Access to limited edition entertainment experiences through Visa Platinum Privileges5 and an exclusive Visa Concierge service6.
- Get up to 25% off on retail shopping, travel and dining through Citibank World Privileges7
- Minimum requirement of $40,000 earnings per annum for application approval.
- 24-hour worldwide Concierge services6 through Visa Platinum, helping you plan unforgettable experiences
- The peace of mind of complimentary international travel insurance4 and transit accident insurance4 for you and your family
- Extended warranty4 and complimentary purchase cover4
- Access to Citibank World Privileges7, giving you up to 25% off shopping, dining and travel worldwide
The Citibank Clear Platinum is a prestigious yet affordable credit card for anyone earning at least $40,000 taxable income per year. It is currently offering the lowest interest on balance transfers, and one of the lowest regular purchase rates. You can have up to four additional cardholders and can be added for just $19 each.
Fraudshield operates 24/7 on the Citi Clear Platinum credit card to monitor for any suspicious transactions.
Required information to apply for a Citi Clear Platinum:
Applying for the Citibank Clear Platinum credit card should take no more than 10 to 15 minutes, and the following documents are required for you to make your application:
- Your personal details, including driver’s licence number
- Your contact details, including address, phone numbers and email address
- Employment details, including time in current job
- Details of your income and expenditure
- Details of any other credit cards owned
Application criteria for a Citibank Clear Platinum:
The following eligibility criteria apply for a Citibank Clear Platinum credit card:
- You must be over 18 years of age
- You must have a good credit rating
- You must be a permanent Australian resident
- You must earn a minimum taxable annual income of $40,000
To be frank, there are a lot of sub-par offers in the Australian credit card market. Any credit card will help give you access to credit, online purchases and generally get you from A to B.
In order to really get the best financial value from a credit card, factors such as interest rates, benefits and fees need to be taken into account when comparing credit cards.
What Makes the Citibank Clear Platinum Visa Credit Card so Valuable?
As far as credit cards go, each different credit card tends to fit a ‘category’ or ‘type’ with it’s own individual stereotypical features. For instance, you’ll find that in most cases, credit cards with:
- Reward programs will have a catch of high interest rates and above average annual fees.
- Low interest rates will have a lack of rewards and benefits.
- No annual fees will have a lack of interest free days, lack of benefits and high interest rates.
Much like the Virgin credit card did when it was first introduced into Australia, the beauty of Citibank’s Clear Platinum is it steps outside of the mould. The Citibank Clear Platinum is unique as it offers, in essence, a low interest rate, competitive annual fee and benefits in the form of insurance and discounts.
The Pros and Cons of the Citibank Clear Platinum
Pros:
- A solid low interest rate credit card and it’s currently one of the lowest rates on the market.
- Instant discounts are handy and can even add up to savings which can compensate for the card’s annual fee.
- Free international travel insurance for you and your family – save the hassle of organizing insurance externally knowing it’s automatically covered by your Clear Platinum.
- It’s payment processor is Visa, which is accepted at over 24,000,000 retailers and places worldwide.
- You can enjoy the pride and status associated with a ‘Platinum’ credit card.
Cons:
- If you don’t plan to take advantage of it’s benefits, such as the travel insurance and instant discounts, you’re essentially paying $30 more in your annual fee when you could be settling for another ‘no-frills’ low rate credit card.
- Free international travel insurance for you and your family – save the hassle of organizing insurance externally knowing it’s automatically covered by your Clear Platinum.
- Minimum annual earning requirement of $50,000 in order for application approval.
Where can I find terms and conditions and access an online application from Citibank.com.au?
To find out more about the Citibank Clear Platinum card offer, click through blow to be securely redirected to the Citibank product landing page.
Read the official terms and conditions
Terms and Conditions
Fees and charges apply. Terms and conditions apply and are available upon request. Credit criteria apply.
1. The 2.9 % p.a. interest rate applies to balances transferred with this offer at point of application, for a period of 12 months. The 12 month promotional period commences once balance transfer is processed. Transferred balances are repaid first during this period. Annual fees attract interest at the retail purchases rate. At the end of the balance transfer period, the interest rate on any outstanding transferred balance will revert to the Citibank Clear Platinum Credit Card cash advance interest rate, currently 21.74% p.a. The current Citibank Clear Platinum Credit Card interest rate for retail purchases
is 11.99% p.a. Interest rates are variable, subject to change and credit criteria. The interest rates are current as at 8 December 2010. Current Citibank Credit Cardholders are not eligible to apply for this introductory offer. Offer ends 31 March 2012.
2. Citibank’s Dining Program is operated by Pinpoint Pty Ltd ABN 49 002 693 656 and Zenith Wine Agencies Pty Ltd ABN 66 128 399 717 and is open to Citibank cardholders. The cardholder is entitled to receive a gift of a selected bottle of wine when using their Citibank credit or debit card to pay for their restaurant bill. This offer is available only at participating partner restaurants for dine-in customers who order a minimum of a main course and is limited to one free bottle of wine per booking. Split bills are not permitted. The free bottle of wine must be requested at the time of ordering. The free bottle of wine cannot be taken away or consumed off premises and is not available to customers selecting a degustation menu option with matching wines. The free bottle of wine specified may be out of stock or replaced. Should this occur, the restaurant will provide a similar quality bottle of wine at their discretion. The value table Assumes 6 dining experiences per year as part of the Citibank Dining Program.
3. World privilege payment must be made using a Citibank Credit Card. Up to 25% discount on Dining and Shopping available at participating outlets. Privileges cannot be used in conjunction with any other promotional programs or offers. Citibank and the business establishment reserve the right to change the terms and conditions at any time. Refer to citiworldprivileges.com/au/ for up-to-date offer details.
4. Exclusive Platinum Visa Entertainment Offers supplied by Visa. Visit visaentertainment.com.au for details.
5. Exclusive Visa Platinum 24/7 concierge service supplied by Visa. Visit visaplatinum.com.au for details.
6. International Travel Insurance, Extended Warranty Insurance, Transit Accident Insurance, Guaranteed Pricing Scheme and Purchase Cover Insurance are provided automatically to cardholders under a master agreement between Zurich Australian Insurance Limited ABN 13 000 296 640, AFSL No. 232507 and Citigroup Pty Limited, and are subject to Terms and Conditions and exclusions available at www.citibank.com.au/complimentaryinsurance. An excess applies to Purchase Cover Insurance.
© 2012 Citigroup Pty Limited ABN 88 004 325 080, AFSL No. 238098, Australian Credit Licence No. 238098. Citibank® and Arc Design® are service marks of Citigroup Inc.
Read the official terms and conditions
| Minimum Income | $35,000 | Minimum Age | 18 years of age |
| Residency | Permanent Australian Resident | Credit Rating Requirement | Good |
| Min Credit Limit | $8,000 | Max Credit Limit | $60,000 |
| Annual Fee | $99 | Balance Transfer Fee | |
| Minimum Repayment | 2% | Interest Charged From | Purchase Date |
| Late Payment Fee | $40 | Over Limit Fee | $40 |
| Overseas Emergency Replacement | $0 | Overseas ATM Balance check | $0 |
| Overseas ATM Withdrawal | $5 | Foreign Currency Conversion Fee | 3.3% |
| Rewards Points per Dollar | Visa:0 Point(s) | Points needed for Syd/Mel Return Flight | |
| Points needed for $100 Voucher |
Is there a fee for transactions made overseas on this card?
Hi Jane
Thanks for your comment.
A Visa International Transaction Fee applies at 3.3% of the transaction amount, charged for any transaction made in foreign currency.
Cheers,
Jeremy
Can I transfer my balance of $5,600 from my existing BP-Citibank card to the Platinum Clear card?
In other words, is this offer for non-Citibank customers only?
Hi Mike
Thanks for your comment!
If you are an existing Citi Credit Cardholder, you must have held your current Citi account for at least 9 months before you can apply for another Credit Card. You will still also need to meet the normal criteria for application.
Hope this helps :)
Cheers,
Jeremy
How long is this offer available for?
In note 2 it says ’2. The 0%p.a. introductory interest rate will only apply to retail purchases’. What is defined as a ‘retail purchase’? Will I be able pay my rent using this credit card and receive the 0% interest offer for the first 6 months?
Hi Candice
The terms and conditions aren’t currently stating an end date for the offer. However, from our past experience offers like these are available for a limited time only.
Cheers
Jeremy
I do not have a drivers licence but i am a citizen of australia, can i apply for a credit card. the online application wants a drivers licence number
Hi Asuri
Thanks for your comment
The drivers license field in the application form is not required. So long as you meet all the other criteria, and can provide enough proof of identity if they ask for it, a drivers license is not needed.
Cheers
Jeremy
Hi Phil
It depends on the receiving party for the rent. If the rent payment is direct to a bank account, then it would likely be considered a cash advance. If it is to a real estate agent, it may recognised as a “purchase” payment.
I’m working on getting a clearer definition on Retail Purchases for you and will update you as soon as I have
Cheers
Jeremy
Can you tell me more about travel insurance? If I travel in South America for three months, what will it cover me for? Is it just ‘credit card travel insurance’ or does it cover flights/hotels/illness/accident, all those travel things? Do you have to book things on this card to have them covered?
Hi Jeremy, I found this in the Citibank brochure:
Interest on Retail Purchases
You make a retail purchase when you purchase goods or
services using your Citibank Credit Card. Bill payments,
fees, charges, and expenses are retail purchases for the
purpose of calculating interest.
Interest on Cash Advances
A cash advance transaction is any transaction where
cash or its equivalent is obtained, for example,
telegraphic transfer or purchase of travellers cheques.
From the above I’m under the impression that paying my rent as a credit card payment directly to the real estate agent is the equivalent to paying a bill and therefore a ‘retail purchase’. Let me know if you agree.
Thanks for your assistance
Hi Ashley
Thanks for your comment
Here is a PDF with details on the Citibank Clear Platinum Insurance Cover: Description of Insurance Cover for Citibank Clear Platinum Cardholders
Cheers
Jeremy
Can you confirm
Citibank Clear Platinum Visa Card
Say$10,000 balance transfer initially
$$2,000 per month for 5 months and no fees are payable if on the 6th month moneys owed are paid?
if i pay off the credit card balance transfer in the 0% interest rate time frame can i cancel the credit card with out any charges or penalties
I am a retiree pensioner can I apply for a Platinum card
Hi Phil
I have just been made aware that the Citibank Clear Platinum card has a program called rental rewards, a specific rent payment program. This basically allows cardholders can register any agent and pay for the rent on their card therefore making it a retail purchase.
Cheers
Jeremy
Does this card give you Qantas Frequent Flyer points and if so how many points per $1
Hi Adele
Thanks for your comment.
Unfortunately, you cannot earn Qantas Frequent Flyer points with the Citibank Clear Platinum Visa.
Cheers
Jeremy
If I pay off the balance transfer amount in full upon the expiry of the 6 months interest free period, will there be any charges? TQ
Hi Calvin
In order to avoid paying any interest or fees, it would be important that you communicate with the bank prior to the end of the balance transfer period, to get the complete amount you need to repay to ensure that interest isn’t charged at the revert rate.
Cheers
Jeremy
what is the maximum amount that i can borrow?
Hi Paula
Thanks for your comment!
The maximum credit limit on the Citibank Clear Platinum Visa is: $50,000 subject to credit criteria.
However, you will be subject to lending criteria, and your final approved credit limit may not be $50,000. After completing your online credit card application, Citibank will advise the credit limit you have been approved for.
Cheers
Jeremy
hi
i just started new job for 2 months as a constractor.am i eligible?
Hi Win
Thanks for your comment
In your case, you are probably best speaking to a Citibank representative regarding your application, and whether or not you meet the credit application criteria.
Cheers
Jeremy
if i get a credit card now will i be charged full $ 49 for this year2011,or it is charge to july11 to july12. can you please send me an application form to my email.. i do not like to apply online………..
Can I transfer a balance from a credit card in my name (my wife does have a joint card but it is not a joint account) to a new card in my wife’s name? Unfortunately just lost my job so I won’t meet new credit card application criteria but we need to transfer the balance somewhere until I get a new job.
Dear Credit Card Finder®,
Can I apply/obtain & use a interest free credit card until only the interest free period ends – then pay the balance, close the account – and apply/obtain another interest free credit card & do the same thing over & over?
Or is there some kinda contract that doesn’t let you use the banks the way they use us?
Ms R.
Can balance transfer be used for balance owing on a commercial vehicle in my private company’s name? (My broad details are: annual income $78,000 / current credit card balance zero / loan amount on commercial vehicle $25,000).
With thanks
Damien
Does this card entitle you citibank dining rewards with free bottle of wines and points within all there partners?
Hi Damien
Thanks for your question
Citibank offer the option of balance transferring any existing personal loan or credit card. With regards to this request, you are best to speak to Citibank customer service directly as there may be an issue if the loan you are transferring to is not in the same name as the credit card application.
Cheers,
Jeremy
Hi Ms. R
Thanks for your question
You certainly can do this, but you have to be organised to make sure you repay the balance on time to avoid interest charges. This is actually called “credit card tarting”
Cheers
Jeremy
Hi Vaughan
Thanks for your question.
In most cases, the credit account you want to transfer must be in the name of the Citibank credit card primary account holder.
Cheers
Jeremy
Hi Carmelo
Thanks for your question
You must earn a minimum taxable annual income of $40,000 in order to apply for the Citibank Clear Platinum Visa.
Cheers
Jeremy
HI Michele
Thanks for your comment
You would need to find out the amount for the final payout figure of the credit card, in order to properly close the account without paying interest charges and fees.
Cheers
Jeremy
can i get the interest free terms when i already have a credit card with you
Hi Todd
Thanks for your comment!
If you are an existing Citi Credit Cardholder, you must have held your current Citi account for at least 9 months before you can apply for another Credit Card. You will still also need to meet the normal criteria for application.
Hope this helps :)
Could I transfer a balance from a cc that is outside Australia and in foreign currency?
do you have to pay for travel with the card to be covered with travel insurance?
Hi John
Thanks for your question
You will be eligible for travel insurance if you purchase your overseas travel ticket (but not taxes or airport or travel agent charges) prior to the commencement date of your journey by one of the following methods:
1. Cost charged to your eligible credit card account
2. Obtained by you under the Citi Take Flight® program
Cheers
Jeremy
Hi Mary
As far as I’m aware, most banks in Australia will only do a balance transfer it is to another Australian financial institution
Cheers
Jeremy
When Transferring a balance from a non Citibank Visa card, is this other card automatically closed? In other words, does this other card remain open.
Can I join any frequent flyer rewards program with this card?
Hi Anton
Thanks for your question
One the balance transfer has been completed it is your responsibility to close the other account. Citibank can’t do this on your behalf.
Cheers
Jeremy
Hi Jenni,
Thanks for your question.
There is no frequent flyer rewards program currently available with the Citibank Clear Platinum Visa.
You can review our frequent flyer credit cards here: http://www.creditcardfinder.com.au/frequent-flyer-credit-cards
Cheers,
Jeremy
I want to do a credit transfer from my existing bank to Citi i have changed jobs from being a contractor to a now permanent role i have only bee with this company 2.5 months whats the chances of this being possible i earn over $100,000 pa and have a good credit history
Hello …. My husband and I both want to be on the credit card application …. but on the application there is only room for one persons details …. can we both go on pls ???
Thanks
Kerry
Is there a cancellation fee once all there is no money owing?
Hi Alisha
There is no cancellation fee. When you go to cancel any credit card, you need to ask for a payout figure from the bank and pay that amount in full.
Be careful though, because your card can stay open in some cases if you have direct debits etc. that happen after you have done your final payout and requested to have your card cancelled.
Cheers
Jeremy
What is the pay out figure based on?
can i cancel the card at any time if the balance is zero
Hi Trevor
In order to cancel any card you will need to ask for the payout figure from the bank, and once all outstanding amounts are paid you are able to close the account. Just a note – make sure you change your direct debits when cancelling your card also!
Cheers
Jeremy
Hi, is it possible to transfer a personal loan to your credit card?
There are 2 questions. What is the amount charged if the credit card is not paid on time? The interest rate on the balance transfer, is that only apply on the transfer of the money to the new card or does it apply on the amount transferred until it is payed off?
Hi Aileen
The Late Payment Fee is $10 which is charged when the Total Minimum Payment Due is not paid by Payment Due Date and every 7 days thereafter until the Total Minimum Payment Due is made.
In regards to the balance transfer rate – this applies for the balance transfer period only, not until it is paid off.
Cheers
Jeremy
Hi Tracey
Thanks for your comment.
With the Bank of Melbourne you can transfer the balance of any store, charge or non Bank of Melbourne credit card.
Citibank credit cards allow any account balances from other financial institutions/stores, such as:
- Visa and MasterCard (all banks)
- Most store cards (e.g. David Jones and Myer)
- Personal Loans
- Lines of credit
Cheers
Jeremy
Dear Sirs,
I currently have 3 credit cards which I would like to consolidate into 1 Clear cad with low interest rate for 12 mths. This includes a Citibank Platnuim Card, a citibank clear card (with a credit balance)
Hi Terrence,
Yes you can consolidate your cards into one. The Citibank Clear Platinum Visa Card offers a special balance transfer rate – by consolidating your cards into one, you will pay a lower rate of interest on your existing debt ultimately saving you money; however, make sure to get the outstanding amount paid off before the balance transfer rate reverts back to the cash advance rate. Thanks for your question. Cheers.
Jeremy