Citibank Ready Credit Balance Transfer Offer – Details & Application

Information verified correct on September 27th, 2016
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The Citibank ReadCredit Balance Transfer Offer is no longer available. Compare other Citi credit cards to find the right card for you.

Important Information

The Citibank ReadyCredit Balance Transfer Offer featured on this page is no longer available for new applications and customers. The credit card cannot be applied for, however, the information on this page has been kept for the benefit of existing customers and for those who are interested.

If you would like to compare the current range of Citibank credit cards click here.

Repay your debt faster with a Citibank balance transfer

Credit cards aren’t the only source of credit you can use. With Citibank Ready Credit, you can get a line of credit and have access to money when you need it the most. With a line of credit, you receive a maximum credit allowance that you can use to withdraw from and use funds when you need it, for whatever you need it for.

You can access the funds in your account via a Visa Debit Card, cheques or online transfers. Ready Credit is easy to use and is a viable alternative to a credit card as you only use what you need to. If this form of credit isn’t right for you, you may want to consider other products from Citibank.

Citibank Ready Credit Balance Transfer Offer Review

The Ready Credit has competitive interest rates and you won’t be hit with monthly or redraw fees. finder.com.au users have access to a special offer from Citibank. With this special offer, you will be eligible for 0% p.a. for 6 months on balance transfers, perfect for those who want to transfer their existing balances.

Benefits of Citibank Ready Credit Balance Transfer Offer

  • Balance transfer offer. You can take advantage of a special offer of 0% p.a. for 6 months on balance transfers.
  • Access to funds. Cardholders can access the funds in your account through a Visa Debit Card, cheques or online transfer — allowing you to take control of how you spend your money.
  • Citibank Dining Program. With the Citibank Dining Program, you will receive a free award-winning bottle of wine when you dine at one of Citibank’s partner restaurants.
  • Visa Entertainment offers. As a Visa cardholder, you will have access to a world of special offers with the Visa Entertainment Offers program, including exclusive offers for events and deals.
  • Citibank World Privileges. Being a member of Citibank entitles you to discounts and deals from around the world or right in your backyard. This is a great way to grab some special deals and take advantage of discounts.

Features of the Citibank Ready Credit

  • Annual fee. Citibank Ready Credit has no annual fee. This can help you to save interest and allowing you to spend your money on what you really want to.
  • Establishment fee.There is a $99 one-off establishment fee for Citibank Ready Credit.
  • Balance transfer offer. Citibank currently has an introductory balance transfer offer of 0% p.a. for 6 months on balance transfers. After this period, the rate will revert back to the regular cash advance rate.
  • Rates. With Citibank Ready Credit, the standard interest rate is 19.49% p.a. The cash advance rate for this form of credit is 19.49% p.a.
  • Maximum credit limit. You can receive a loan amount between $5,000 – $30,000 when you take out Citibank Ready Credit. It’s important to consider how much you may need to borrow or use before you take out the Citibank Ready Credit.
  • Account management and repayments. Citibank Ready Credit requires you to make monthly repayments. You can also make additional repayments at no extra cost, which can help you save on interest. You can complete these repayments via direct credit, BPAY, Mail or at Australia Post.
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54 Responses to Citibank Ready Credit Balance Transfer Offer – Details & Application

  1. Default Gravatar
    Sri | October 9, 2015

    Hi,

    I am an existing Ready Credit Customer, I have previously did balance transfer and paid off my loan amount.

    What is the procedure If I want to use it again, Do I need to reapply?

    • Staff
      Jonathan | October 13, 2015

      Hi Sri, thanks for your inquiry!

      Unfortunately “Current Citibank Ready Credit customers are not eligible to apply for this introductory offer.” You can compare other balance transfer offers on this page.

      Cheers,

      Jonathan

  2. Default Gravatar
    Debbie | August 28, 2014

    What do you mean Establishment fee $99. Do we need to pay this up front when we are doing a 0% pa transfer on a 6 months balance transfer?

    • Staff
      Shirley | August 29, 2014

      Hi Debbie,

      Thanks for your question.

      That is correct, the establishment fee will be debited to your Account on the first use of your Account (including Card activation). This fee will appear on your first statement of Account.

      Cheers,
      Shirley

  3. Default Gravatar
    nimish | June 25, 2014

    Hi There,

    Does this mean that there is 0% interest on “cheque to myself” for 6 months?

    • Staff
      Shirley | June 27, 2014

      Hi Nimish,

      Thanks for your question.

      Yes the offer is 0% p.a. for up to 6 months on the balance that you request.

      Cheers,
      Shirley

  4. Default Gravatar
    Ash | May 19, 2014

    If I just make a bank transfer within the 6 month 0% interest free period, will I be charged the daily interest if i pay off within this period. eg. if i just transfer money from the ready credit to my transaction account?

    • Staff
      Shirley | May 22, 2014

      Hi Ash,

      Thanks for your question.

      If you’re performing a balance transfer, then the 0% only applies to that balance. If you decide to do a cash advance by directly transferring money from this account to another, then you’ll be charged the interest rate on cash advances straight away plus a cash advance fee.

      However, there is a cheque to self option that you may want to utilise. This is similar to a personal loan.

      Cheers,
      Shirley

  5. Default Gravatar
    | April 4, 2014

    Hello, I applied for Ready credit 0% for 6months balance transfer to make some big payables lighter and easier to budget as I am going for a holiday next month. But your processing came so fast that I haven’t yet paid the bills with my old credit card and I received an email from you that I got approved and may have a smaller approved credit limit than what I requested.

    If so, is there a way I can include the other payable in my credit card?

    another question: Because I got the email about the approval I tried to return to the credit card website and went across your other credit card with free travel insurance, no overseas transaction fee and the like benefits with a 0 annual fee too. Is it possible to swap it to this credit card? Thank you and hope to hear from you soon.

    • Staff
      Jacob | April 4, 2014

      Hi, Rosemarie.

      Thanks for your question.

      If you would like to swap your account for a different product offered by the same institution, you may be able to do so by contact Citibank directly. They may be able to request a credit swap on your behalf.

      My understanding is that with this product, to get the funds at the promotional balance transfer rate of interest, you request a ‘cheque to self’. This will give an amount (up to 80% of your approved credit limit) drawn from your account, you can then use these funds for almost anything you like – including paying out bills or other credit cards.

      I hope this helps.

      Please let us know if you have any further questions.

  6. Default Gravatar
    | March 24, 2014

    Hi. I got the balance transfer at 0% over 3 months (not 6 months maybe because I am existing ReadyCredit user).

    The Cheque to self was posted as a debit in my ReadyCredit account on Feb 24. Does this mean I have to pay in full by May 24 – exactly 3 months from the posting date? Or is there additional time due to statement cycle? Any info will be much appreciated.

    • Staff
      Jacob | March 24, 2014

      Hi, Jem.

      Thanks for your question.

      Expect the promotional period to finish three months from when the balance was issued to you. If the date the balance is due falls on a Sunday, it may be the case that you have until midnight to pay the balance before the promotional period ends; however, you should pay the balance back within the allocated promotional period if you want to avoid additional interest charges.

      I hope this helps.

  7. Default Gravatar
    rosemarie | March 20, 2014

    Please explain what establishment fee is, thank you.

    • Staff
      Jacob | March 20, 2014

      Hi Rosemarie.

      Thanks for your question.

      The establishment fee is a one off payment to Citibank that is charged to your account on first use. This is to be confused with a credit account’s annual fee, which is payable every year. The establishment fee is kind of like a set up fee.

      I hope this helps and please let us know if you require further information.

  8. Default Gravatar
    | March 17, 2014

    Hello, If my application is successful could you tell me if I transfer my credit card balances, what happens to the interest monies on my existing cards?
    Thank you

  9. Default Gravatar
    jem | February 23, 2014

    Hi, i already have a ReadyCredit account and currently paying off my loan at the 5.9% over 24 months.

    I am halfway done (paying a monthly amount of $X). Now I have un-used credits available, amount $Y.

    Is it possible to apply for a cheque to self for amount $Y and get the 0% over 6 months?

    How will my repayment applied? I want to pay everything during the promo period. Would it be correct that I keep paying the monthly repayment of $X, plus 1/6th of amount $Y for 6 months?

    Thanks. Hope this makes sense!

    • Staff
      Jacob | February 24, 2014

      Hi, Jem.

      Thanks for getting in touch with us.

      You can request a cheque to self at any time by getting in touch with Citibank directly. I believe this can be done over the phone.

      Regarding the allocation of repayments, the following is taken from the terms and conditions: ‘repayment will be applied first to the plan with the lowest Annual Percentage Rate, then to the plan with the next lowest Annual Percentage Rate, and so on, in ascending order. If the same Annual Percentage Rate applies to two plans, payment will first be applied to the plan having the earlier expiry date. If one of those plans does not have an expiry date, payment will first be applied to that plan.’

      I hope this helps.

    • Default Gravatar
      jem | February 25, 2014

      Thanks for the information. You’ve been very helpful and quicker than the banks! Beats waiting on the phone or waiting on the chat line :)

      A follow up question and i hope you can help. I have been approved for an in-account BT offer of 0% for 3 months. This is sitting on top of my 5.9% over 2 years that is still ongoing. So if I choose not to pay off the new BT, would the unpaid balance “carry over” to 5.9% together with my other BT until the end of the 2 year period? or will the new balance be changed the standard rate of 18.99% while my old (existing) BT is charged at 5.9%?

      Thanks again.

    • Staff
      Jacob | February 26, 2014

      Hi, Jem.

      For information about offers for pre-existing customers, it’s really worth checking with the lender; however, each balance transfer is treated separately, and I couldn’t imagine a circumstance where the two balances are combined under the one promotional rate after one balance transfer promotion expires. It says in the terms and conditions that any unpaid balance at the end of the promotional period will be charged at Citibank’s standard interest rate. It does not say anything about one balance transfer balance rolling over to another balance transfer promotion.

      I hope this helps and thanks for your questions!

  10. Default Gravatar
    Lat | February 20, 2014

    I already have a Citibank Ready Credit account.

    Can I also pick-up on the 0% balance transfer offer with that existing account OR is that offer only for ‘new’ customers?

    • Default Gravatar
      Lat | February 21, 2014

      To put my question another way -
      If I arranged a cheque to self from my existing Citibank Ready Credit account, do I receive the $ value of that cheque to self at 0% interest for 6 months?

    • Staff
      Jacob | February 21, 2014

      Hi, Lat.

      Generally yes. Please contact the Citibank customer service team to arrange a ‘cheque to self’.

      Thanks for your question.

    • Staff
      Jacob | February 20, 2014

      Hi, Lat.

      Thanks for your question.

      If you’re already an account holder, get in touch with Citibank and request a cheque to self. You can use the money for anything you like, including paying off the balance of another account.

      I hope this helps.

Credit Cards Comparison

Rates last updated September 27th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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