Citibank Ready Credit – Details and Application
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The Citibank Ready Credit gives you freedom to spend money on the things you really want. Borrowing money is sometimes necessary, but paying high interest on those loans is not. Citibank Ready Credit offers a simple, no fuss personal loan that comes with a line of credit that can be used exactly the same way as a credit card.
Ready Credit offers a long term offer of 5.9% p.a. for 24 months on balance transfer . This is one of the best introductory offers available in the current market.
Whether you’re looking for extra cash in your pocket, plan for a renovation or you’ve got your eye on a new car, Citibank Ready Credit gives you some flexible options.
Benefits of Ready Credit.
Ready Credit Account Features:
No ongoing fees:
There is $0 annual fee that you would usually associate with a credit card. Ready Credit accounts also have no ongoing fees, transactions fees or redraw fees. Although there is a one-off establishment fee of $69 which is billed to the account upon the first use of the card.
Simple account structure:
This is a personal loan and line of credit with a card attached. Having one account means you can easily keep track of payments and access funds via a Visa Debit card, cheques or online transfers.
Repayments and redraw:
Paying off your account is simple. There are no extra charges for paying off your loan early and no charges for redrawing on the money you have paid off.
Privileges:
You’re eligible for a free bottle of award-winning wine every time you dine at a participating Citibank restaurant. You also get access to Visa platinum entertainment offers and Citibank World Privileges offering world-wide discounts.
Cheque to self
If you would like to take advantage of this option, simply request a cheque (cheque to self) to be sent to you at a nominated amount once your account is approved. The amount you wish to request may not be more than 80% of your approved credit limit and the request must be made within 90 days of the opening of your account.
Repayments
Ready Credit repayments are made on a monthly basis and can be made through direct debit, BPAY, through the mail or at Australia Post. The minimum repayment each month is the greater of $30; or the sum of 1% the outstanding balance plus interest plus late fees (if applicable).
Repayment insurance:
Repayment insurance is available as an optional extra, providing cover against circumstances where you are unable to meet your regular monthly repayments including:
- Total or temporary disablement;
- Redundancy or resignation; and
- A listed life event.
Ready Credit Pros & Cons
Pros:
- A low interest rate of 18.99% p.a. on purchases. You can perform a balance transfer on a personal loan. The balance transfer period is 24 months, one of the longest in the market.
- A range of Citibank and Visa dining benefits at home and overseas.
- You are not charged when you want to make extra payments and when you want to redraw those payments.
- Get a free bottle of award winning wine every time you dine with Citibank’s Dining Program partner restaurants.
Cons:
- Because this account is a personal loan with a line of credit attached, there is no rewards program to earn points with when you spend.
- There is no interest free period on purchases when you use your card.
How to apply for Citibank Ready Credit.
The easiest way to apply is to go to follow the link to be redirected to the Citibank site and secure application page. This process is secure with 128 bit SSL technology so you know the data you input is protected. It only takes about ten minutes to fill out the application and you will get a conditional approval in one minute or less. Once you confirm the terms online you simply need to tell Citibank how you would like to receive the funds. Those applicants whom Citi needs additional information from will be notified via email within 24 hours.
Application Criteria:
When you are ready to apply for the Citibank Ready Credit you must meet the following criteria:
- Have a good credit rating.
- Earn a taxable income of $35,000 or more.
- Be an Australian resident.
- Be over the age of 18.
- Must not have applied for a Citibank credit card within the last 9 months.
Who is the Citibank Ready Credit suitable for?
Citibank suggests that Ready Credit is a great option for those looking to unlock cash for any personal purchases including: home improvements, a new car or a holiday. It’s also a good resource for those looking for some extra cash in their pockets to cover things like bills or groceries.
The Citibank Ready Credit personal loan with line of credit is a fantastic option for those looking to consolidate debts into one credit facility. Instead of using a credit card with an unspecified credit limit, higher interest rate and annual and transaction fees, Citibank Ready Credit is a simple alternative that allows you to combine and manage your finances.
Ready to Apply?
The application process takes roughly ten minutes so make sure you have this information handy:-
- Drivers Licence
- Your contact details
- Your residential status
- Whether you rent a house, own or have a mortgage
- and the contact details of a relative not living with you
You’ll also need to provide
- Your financial details including salary/wage and assets
- Your employer details
- Details of other income and expenses
So whether you need extra cash or making renovations to your house, click on the apply now buttons to find out more information
Read the Citibank ReadyCredit terms and conditions.
| Minimum Income | $35,000 | |
|---|---|---|
| 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. | $5,000 | |
| Max Credit Limit | $30,000 |
| Annual Fee | $0 p.a. | |
|---|---|---|
| Balance Transfer Fee | 0% | |
| Minimum Repayment | 1% | |
| Late Payment Fee | $10 | |
| Over Limit Fee | $40 | |
| Overseas Emergency Replacement | $0 | |
| Overseas ATM Balance check | $0 | |
| Overseas ATM Withdrawal | $0 | |
| Gambling Transactions Allowed | No | |
| Number of Additional Cardholders | 1 |
Pros
- No annual fee and no monthly servicing fees for the life of the card (all you have to pay is one off $69 establishment fee)
- A long term balance transfer offer of 5.9% for 24 months.
Cons
- There is no rewards program with this card
- You cannot transfer more than 80% of your credit limit and the credit limit is a fairly low at $5000 to $30000 (depending on your annual income).
Read the Citibank ReadyCredit terms and conditions.
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184 Responses to Citibank Ready Credit – Details and Application
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I need to know the interest-free period and minimum annual income before applying. Thanks.
Hi Antae
At this point in time, the introductory interest rate offer is 5.9% p.a. for 24 months on purchases and balance transfers.
The minimum income for application is $35,000 p.a. or more.
Cheers
Jeremy
I just wanted to clarify the following;
After the initial draw down, does the interest rate of 5.9% also apply on any purchases I make during that 24 month period.
Also, on an income of $45,000 what is the maximum credit limit?
Thanks
Hi Corrin. Thanks for your question. Check the fees and application requirements table at the bottom of the review and application page for the maximum credit limit. The initial draw down will be charged at the promotional rate, other purchases will be charged at the standard purchase rate of interest. Jacob.
I already have a citibank personal credit account. Can I apply and transfer the balance of this account to take advantage of this lower interest rate?
what is the interest free period on purchases?
Hi Wendy
There are no interest free days on the Citibank Ready Credit
Cheers!
Jeremy
I already have a Citibank Plus card, can I change it to a Low Rte Ready Credit Account
Hi Stephanie
According to Citibank terms and conditions:
If you are an existing Citi Credit Card customer, you must have held your current Citi account for at least 9 months before you can apply for another credit card.
It is best to check with Citibank first before making a decision to apply for any account.
Cheers
Jeremy
what/where are the repayments options made on a citibank credit card. is it only internet banking?
Hi,
The following repayment methods are acceptable: Direct debit (Citi-Easy Pay), BPAY, by mail and through Australia Post. Thanks.
Cheers,
Jeremy
I would like to get a cash advance to pay out a personal loan that has a higher interest rate than your ready credit card, the amount is $15,000, my annual income is $103,000 gross. How is your interest calculated, ie daily? weekly? monthly? Also what would be the minimum monthly repayment on a cash advance of this amount?
hi, if i use cash advance to pay a personal loan will that then be on a credit card and could be transfered to a lower rate credit card in the future?
HI Sarah. Thanks for your question. Yes, what you’re suggesting can be done; however, it all depends on whether your approved for the new card you wish to transfer to. If you’re not approved (banks look at your current card limits / balances / savings), you will be stuck with a transaction accruing a high rate of interest. Sorry for the delay in this response. Jacob.
Am looking at transferring a balance of approx $10000 from St.George bank
what would be the best card on offer considering longest term on offer, no/min annual fee, lowest purchase rate,lowest revert rate?
Thank you kim
Hi,
Definitely the golden question here Kim, thanks for asking. In terms of finding a card that will satisfy all those needs there’s a fair bit of homework there. Your best bet would be to decide what is the most important feature you’re looking for in a card and compare from there. We like the St George MasterCard Vertigo for its low balance transfer rate and its low purchase rate. They offer up to 55 days interest free but there’s an annual fee of $55. Please consider your personal finances and situation before deciding on a card. Hope this information has been helpful.
Cheers,
Jeremy
Does Citibank do the processing for this card or is it done by one of the 4 major Australian banks?
If the interest free period is 0 days, how would I pay for the purchases without being charged with the interest?
Hi Thuy. Thanks for your question. This account does not offer interest free days as it is a line-of-credit rather than a credit card. You will be charged interest from the day you draw on your account. For cards with interest free days, check this page. Jacob.
Is this a credit card with no annual fee for life?
Hi Thuy,
Yes, there is no annual fee for this credit card. Thanks for your question.
Cheers
Jeremy
I am looking to do a balance transfer to this credit card of approx $10,000.
I am just wondering if there is a penalty charge if I pay out my full amount of $10,000 during the 6month balance transfer period.
Thanks
David
Hi David
There are no penalty charges for repaying the balance in full and on time within the balance transfer period.
Cheers
Jeremy
Is there a Foreign Currency Conversion Fee? If so, how much?
Hi Sonja
Thanks for your comment
A foreign currency conversion fee applies – it is 2.5% of the transaction amount and is charged if you purchase or withdraw cash overseas.
Cheers
Jeremy
2.9% for balance transfer for 15months is this current – As at 16/2/2012?
Hi Melissa,
Yes that is correct. Thank You.
Cheers
Jeremy
what is balance transfer ?
can i repay my personal loan ( i don’t have any credit card due )
Hi,
A balance transfer is when you bring the outstanding balance of one credit card to another with the incentive for switching institutions being a lower rate of interest charged for a set period of time. For further information please check our balance transfer ebook which you can download for free found here – http://www.creditcardfinder.com.au/new-australian-credit-card-balance-transfer-e-book-released.html
Cheers
Jeremy
I want to transfer $5000 from a credit card not I’m my own name, would that still come under the 2.9%? Thanks
Hi Fleur. Thanks for the question and so sorry about how long it’s taken to reply. Citibank won’t let you do this. Check this page for banks and lenders that will. Jacob.
Can my spouse get a second card and if so is this 2nd card also fee free ?
Hi,
The Citibank Ready Credit lets you have up to one additional card holder at no extra cost. Thanks for your question.
Cheers
Jeremy
I have two visa cards from other institution – is it possible to transfer both balances to this card (the balance of both would be less than the max credit limit)?
Thank You
Hi Jody,
Thanks for your question. Yes it is possible to transfer multiple credit cards with a balancer transfer. For further information please refer to our guide on this topic found here – http://www.creditcardfinder.com.au/can-you-transfer-multiple-credit-cards-with-a-balance-transfer.html
Cheers,
Jeremy
Can an existing citibank credit customer apply for non citibank balance transfer.
Hi,
If you are transferring to a non-Citibank account there should be no issues with performing a balance transfer to an external account provided you meet with the eligibility criteria of the card you are apply for. Cheers.
Jeremy
What does 0 days interest free mean? Does interest accumulate from the day something is purchased?
If I pay the statements in full, will there still be an interest charge?
Hi,
0 days interest free means that you will be charged the purchase rate of interest from the day you make a purchase with your card. For further information please refer to our guide on interest free days found here – http://www.creditcardfinder.com.au/what-does-55-days-interest-free-really-mean.html
Cheers
Jeremy
How come you haven’t been advertising this card to have a $69 establishment fee upon activation??
Hi Camille. Sorry for the delay in getting back to you. The offer has changed, please check the review and application page for the latest details. Jacob.
This page states that the ‘balance transfer rate’ is 2.9% for 24 MONTHS.
Is this correct??
Jeremy replied to Melissa on 16/2/2012 and stated that the transfer rate was 2.9% for 15 MONTHS.
Which is correct – 15 months or 24 months ??
Hi Bob,
Thanks for the question. A new card has been released since the previous comment. The new card features a balance transfer offer of 24 months. Cheers,
Jeremy
If i have no personal loans to date and intend to purchase a car in 2 months, am i able to purchase with this credit at 2.9%, if not, how can i utilise this credit and what is the max i can achieve from this loan? Only looking to access this credit at 2.9%.
i have a good credit rating and a home loan of $350k with $65k in offset and a taxable income of $80k annually
Hi James. Thanks for your question and sorry about the delayed response. This answer may not be relevant any more; however, for anyone else with a similar question, you can do what you’ve suggested by utilising this accounts ‘Cheque to Self’ feature. This allows you to draw on the available credit limit offered through the Ready Credit Account (up to 80%) and the interest is charged at the promotional offer. Please refer to the review and application page for the most up to date rates. Jacob.
Can you explain 3% fee on transfer after 3 months for $10000 PLease
Hi Radihka. Thanks for your question and sorry about the delay in this response. I’m not sure I know what you’re referring to. Can you please elaborate and supply a link? Jacob.
Are the repayments on your Ready Credit account based on a percentage of the amount owing? If so, what is that percentage?
Also, is the $69 set-up fee just added into the credit approved?
Cheers.
Hi Dean,
Thanks for the question. The set-up fee is deducted from the amount of available credit on your account. Interest is charged at the end of each Statement Period. It is the sum of the daily interest charges for each day of that Statement Period. Hope this has helped.
Cheers
Jeremy
Is this right or wrong?
No annual fee, no monthly servicing fees and no cash advance fees, ever. Only pay a low one off establishment fee of $69.
Hi,
There is no annual fee or any ongoing account maintenance fees associated with this card. Thanks.
Cheers
Jeremy
Hi,
i want to keep the credit card i will be transferring open /available still, is that possible, and with which offers, ?
thanks Robyn
Hi Robyn,
Thanks for the question. When performing a balance transfer, you are under no obligation to close your existing credit card account. Cheers.
Jeremy
Could you please advise me.I would like to apply for ready credit.But I’m not sure ,shall I visit the bank directly because the amount is around $22000.I don’t trust online application.They keep you waiting and its unpredictable.
Regards,
sunny
Hi Sunny,
Thanks for your question. The online application process is safe and just as reliable as doing it in person. When you apply you will be given a reference number that you can quote to your lender should any issue arise with your application. Cheers.
Jeremy
i currently have 2 credit cards with cash advances can i transfer these balances to a citibank credit card?
Hi Sebastian,
Thanks for your question. Please consult our guide on performing a balance transfer with multiple cards for further information – http://www.creditcardfinder.com.au/can-you-transfer-multiple-credit-cards-with-a-balance-transfer.html – cheers.
Jeremy
1. can I do a balance transfer and also get an extra $1500???
2. I am in regional area with no citibank – do u post my card out and am I given my credit card details straight away to use while I wait for physical card???
Hi,
Thanks for the question. You can perform a balance transfer with this card provided you meet the terms and conditions. The credit limit will be determined by your financial situation which is determined at the time of application. You will have to double check with a Citibank representative regarding delivery of your card. Cheers.
Jeremy
Thanks for the reply jeremy,year ago i have applied online for credit card but i got declined and i have no idea why? i have applied for balance transfer credit card but no idea infect credit history is good.I have paid off the amount with high interest rate any way. I don’t feel confined online .i just wanna consolidate the amount of left over car loan and little bit from credit card.
shall i still apply online?
What is your late payment fee?
Hi,
There is a late payment fee of $30 if you don’t pay the minimum amount on your statement by the due date. Thanks for the question.
Cheers
Jeremy
What this mean?
Pay no annual fee, no monthly servicing fees and no cash advance fees ever-
Does this mean… If i am new customer i don’t need to pay any cash advance fee and balance transfer rate apply?
Access cash anytime using your Visa Debit Card fee free at over 3,000 ATMs3, your personalised cheque book, online or from your mobile with Citibank’s mobile app
_ if i use Visa debit Card over 3000 ATMs3, which rate will apply? cash advance or balance transfer rate? If i have 5000 credit from different bank and city bank approve for 10000,,,can i withdraw another 4000 from ATMs3 on balance transfer rate?
Hi,
Thanks for the question. There is a one off establishment fee of $69 which is payable on the first year only. The balance transfer rate of applies to a balance you have transferred over to your Citibank Ready Credit Account. You will be charged the cash advance rate of interest for any money you withdraw from the ATM. Cheers.
Jeremy
I need to know if i can make a balance transfer from my American Express card.
Thanks
Hi,
Thanks for the question. It is possible to transfer an AMEX credit card to a new Citibank credit card. Cheers.
Jeremy
hi mate
can a balance tranfer be made between two credit cards under different names?
cheers jim
Hi Jim,
Thanks for the question. Citibank wont allow you to do a balance transfer unless the card you are transferring from has the same name as your Citibank account. Cheers.
Jeremy
I am an existing Citibank Credit card holder. Can I apply for a Citibank Ready Credit Card and transfer balance from another card (not Citibank) or is the offer for new customers only?
Hi,
Yes, you can do transfer your balance if you are an existing customer just so long as the card you are transferring from is not a Citibank Card.
Cheers
Jeremy
Can more than 1 balance transfer be done during the 24 month period at the 2.9% balance transfer rate?
Hi Lena. Yes. The way this account works is when you apply, request a balance transfer and are successful in your application, a cheque is issues to pay the balance of your existing account. If you apply for the current offer and request a balance transfer. If you request another balance transfer during the promotional period, you’ll get a cheque at the same rate (provided you have the available credit). Thanks. Jacob.
How much is the establishment fee?
Hi,
Thanks for the question. There is a one off establishment fee of $69. Cheers.
Jeremy
Hi can the balance tranfer be to an existing line of credit rather than a credit card?
Also if transferring to an existing credit card can the transfer be greater than the card balance owing?
Hi Bob. Balance transfers with a low promotional rate of interest are a feature available to people opening a new credit card account. And you can only balance transfer your outstanding debt — no more. Thanks. Jacob.
Hi, I am interested in having one of the ready credit card. I haven’t got any card with citibank at the moment. What is the eligibility for 24 months interest free for balance transfer let us say once I got the card.
Hi,
Thanks for the question. Please scroll up and check the product review page for information about the balance transfer eligibility criteria. Cheers.
Jeremy
please advise how much is he one off establishment fee?
Hi Chris,
Thanks for the question. There is a one off establishment fee of $69. Cheers.
Jeremy
Hi, Can I transfer the balance of my wife’s credit card onto this card under my name?
Hi Dale. Thanks for your question. Please check our article on transferring the balance from a partners credit card for more information on this topic. Cheers.
Can an American Express card be included in a balance transfer
Hi Cathy. Thanks for your question. You can transfer from an American Express Card but not to an AMEX. Hope this helps.
Hi there Jeremy,
I don’t own a credit card, but assuming I passed any tests and satisfied any criteria would it be possible to secure a 20,000 dollar loan using this card and pay it back within the 24 month period and only pay 2.9% interest per annum? total amount paid back being in the area of 20000 + 1160 (interest) + 69 (establishment fee)? that sounds too good to be true.
Hi Mitchell Apologies about the time it’s taken to get this response back. So if you were to write a ‘cheque to self’, you could up to 80% of your approved credit limit at the promotional interest rate. Hope this is still relevant for you. Jacob.
Can I set up an automatic payment to clear the balance each month .
Hi Daniel,
Thanks for the question. To set up a direct debit agreement on your credit card you will have to complete this form (http://www.citibank.com.au/aus/banking/pdf/EasiPay_Cards_05.pdf) and send it to Citibank. Cheers.
Jeremy
can i transfer from my go mastercard, my current limit is $3000
Hi,
Thanks for the question. You are able to perform a balance transfer provided that you meet with the balance transfer requirements that are listed on the Citibank Ready Credit application page (http://www.creditcardfinder.com.au/citibank-ready-credit-details-and-application.html). Cheers.
Jeremy
Hi,
Just wondering what my repayments per month would be if I had a ready credit and a balance of $5000.
Regards,
Jess
Hi Jessica. Thanks for your question. Please check out credit card repayment calculator for further information on this question. Cheers.
Hi there,
When will this offer be ending?
Hi Spoath. This is an ongoing offer. Thanks for your question.
I have an existing Citibank Platinum credit card that I have had for more than 9 months. I want to apply for the Ready card and transfer the balance of the Platinum card and another credit card from another provider onto it. Can I do this?
Hi,
Thanks for the question. In order to be eligible for the low introductory rate of interest on balances brought over to the card, you must be bringing the balance from an institution other than Citibank. Cheers.
Jeremy
Can I do a balance transfer on two credit cards? I also have a loan from my Mother of $7000 and would like to pay her.Could this total debt of $15,000 be consolidated on the ready credit card?
Hi Trudy. Please refer to our article on transferring multiple balances to the one credit card for further information on this topic. Thanks for your question.
I had a Citi credit card some time back and paid it out. Can I apply for another card?
Hi Keith. Thanks for the question. You can apply for the Citibank Ready Credit Account and are eligible for the introductory offer too. Cheers.
I would like to pay off my wife’s credit card…of which I am listed as a user. But I want to get this card in only my name. Can I do this as a balance transfer?
Hi Gerry. Please refer to our article on the topic of transferring a balance form your partners credit card for further information. Thanks for your question.
Hi
is there any balance transfer fees
i hav to pay on balance transfer? &
what is annual balance transfer rate which applies?
thanks
Hi Pankaj,
Thanks for the question. The rate on balance transfers is 5.9% for 24 months. There are no fees for performing a balance transfer to this card. Cheers.
Jeremy
I have a car loan with Nissan Finance. Can this loan be transferred over to the Citibank Ready Credit along with our ST.George credit card balance?
Regards,
Joanne
Hi Joanne,
Citibank will allow a balance transfer to their cards from the following debts: Visa and MasterCard (all banks), Most store cards (e.g. David Jones and Myer), Personal Loans and Lines of credit. However, if your new credit limit is less than the amount you wish to bring across from your old cards and loans, the balance transfer will be amended. Cheers.
Jeremy
I have a Suncorp personal loan with just under $16,000 remaining to pay off. May I transfer this to this Citibank ready credit offer?
Hi Tim,
Thanks for the question. Citibank will allow a balance transfer from Suncorp including personal loans provided your available credit limit is greater than the outstanding balance you wish to bring over from your old card. Cheers.
Jeremy
Can I transfer a GE loan?
Hi,
Thanks for the question. Yes you can transfer a balance between GE-Money and Citibank. However, there are other conditions that must be met. For a list of institutions you can and can’t transfer a balance between please refer to our guide (http://www.creditcardfinder.com.au/who-provides-credit-to-whom). For general information about balance transfer, please refer to our guide at the bottom of the page (http://www.creditcardfinder.com.au/balance-transfer-credit-cards). Cheers.
Jeremy
Is there a limit on the number of balance transfer transactions you can do?
Hi John. You’re limited to our balance transfers under the promotional rate within a three month period. Thanks for the question.
Hi,
I am thinking about doing a balance transfer from my current credit card. Can you please clarify, if I do a balance transfer of $10000, does the “no interest free period” mean I will be accumulating interest on this balance transfer daily or does this only apply for when I make a purchase?
Hi Sopath. Good question. No interest free period means when you carry a balance transfer balance on your credit card, you will not receive any interest free days when you make a purchase on your credit card. Thanks and sorry for the delay. Jacob.
Hi
I would like to pay off my balance from other credit cards (Virgin and Bankwest) is this card suitable? It says that it will not accept transfer from Virgin card can I just get a cash advance instead?
Ryan
Hi Ryan. Thanks for your question. Virgin to Citibank balance transfers are not eligible for the balance transfer promotional rate of interest. I’m not sure what you mean by getting a cash advance instead — can you please elaborate. Sorry for the delay in this response. Jacob.
Hi,
Under the terms and conditions it states “Transferred balances are repaid first during this period before the establishment fee which attracts interest at the retail purchases rate”.. does this mean the once off establishment fee will be attracting interest of 18.99% daily until the balance transfer has been paid off?
hi Sopath. The law around the allocation of payments to credit card debt has recently changed. For information on this check out our guide on the credit card reforms. Cheers.
Can I apply over the phone outside of normal business hours?
Hi,
Thanks for the question. You can do this or you can apply online at any time through this page (http://www.creditcardfinder.com.au/citibank-ready-credit-details-and-application.html). For Citibank operator hours check this page (http://www.creditcardfinder.com.au/how-to-check-on-your-credit-card-application.html). Cheers
Jeremy
Can I balance transfer from my partners credit card, i.e. From an account that is not in my name?
Hi Shelley,
Thanks for the question. For information on this topic please refer to our guide (http://www.creditcardfinder.com.au/balance-transfers-with-joint-primary-cardholders-guide.html). Cheers.
Jeremy
What if our loan is “Equity Loan” , can we do balance transfer?
Hello Desiree,
thanks for the question.
An equity loan can be balance transferred to the Ready Credit. This can be done directly if you supply Citibank with your BSB number, or by taking out a cheque under your name from the Ready Credit account.
Cheers,
Marc.
You say balance transfer is 2.9% for 24 months but when I click further in for more information is says 5.9% for 24 months could you please tell me which one it is?
Hi Toni, thanks for the question. The offer has changed and is now 5.9% for 24 months. Hope this has helped.
I have the same question as:
SopathJune 12th, 2012 at 9:06 pm
Hi,
Under the terms and conditions it states “Transferred balances are repaid first during this period before the establishment fee which attracts interest at the retail purchases rate”.. does this mean the once off establishment fee will be attracting interest of 18.99% daily until the balance transfer has been paid off?
But I cannot find an answer to this question.
Is Sopath correct as it doesn’t seem fair if this is the case.
Thank you for your answer.
Hi Jen. Thanks for your question. Balances that attract the lowest interest charges will be paid off first. The establishment fee will attract Citibank’s standard rate of interest until any transferred balances are paid off. You do have the option of directing repayments towards a particular charge on the account. Hope this has helped.
i opened an act with you years ago I never activated the card or used the act, is that act still active?as I would now like to apply for a balance transfer $18000 from my westpac MasterCard .
Hi Patricia. Please contact your lender for answer to this question. For a list of contact details, please check this page.
I was recently declined for a balance transfer credit card because I did not have any form of account with them. Is it best to open a savings account before trying to apply for a balance transfer with Citibank. My credit rating is excellent & I earn over $35,000pa
Hi Janelle. Although you’re not required to have any accounts with the institution you are trying to get a credit card form, it helps if the lender can see that you have a history of savings and regular payments from an employer. Did they tell, you that you were declined because you didn’t have a savings account with Citibank? — That seems a little odd. Jacob.
I want to consolidate my credit card and personal loan into a balance transfer, I was recently declined with another bank only because I did not have any accounts with them. Should I open a saving account before applying for a Ready Credit Account.
Hi Janelle, that is the first time I have heard of an institution declining an application due to an applicant not holding any existing accounts. Please refer to our article on why credit card applications are denied for further information on how to make your next application successful.
Hi I am trying to get my first credit card. I met the minimum required income but the only thing that worry me is that I have no credit card record. Is there a chance of me getting approved and getting my first credit cars? Thanks.
Hi Richard. Thanks for your question. If this is your first application for credit, and you meet the application requirements, there shouldn’t be any issue when applying for this product. If you are concerned that you’re going to get knocked back (and have a mark recorded against your credit file), you can try a low rate credit card, which are designed for people who have a low income and/or are entering the credit market – this is only a suggestion though. Hope this helps.
we have a personal loan that i would like to bring over and would also like to make a large purchase of approx $5K as well and use this card as a back up to our everyday finances. this sounds like what i need, but after the introductory rate time is up, what is the interest period as this is more like a loan then a credit card. i have not heard of lines of credit before and just need some extra explanations on how it will work. thanks
Hi Jenneen,
As mentioned above, ‘Ready Credit offers a low rate of 1.9% p.a. for 9 months on balance transfers, purchases and cash advances.’ This condition appears to mean that any one of these three types of borrowings not paid after 9 months will revert to a 18.99% interest rate.
The Citibank website says ‘Instead of drawing all the funds on day one, you can drawdown just what you need, when you need it – usually via ATM (automatic teller machine) or cheque book. A line of credit is a convenient option with flexible repayments and it can be useful knowing your credit limit will be available when you need it. But it remains important to manage the debt wisely, and only draw on the funds when you need to. With a line of credit, interest is only charged on the amounts drawn down.’
All the best
how much interested will i pay with a 2460 cash advance
Hi Amy. Thanks for your question. The 1.9% p.a. interest rate applies for the first 9 months on balances you transfer with this offer at point of application, and on all purchases and cash advances for a period of 9 months from the date your account is approved. Please check our credit card interest calculator to find out how much interest you will be charged. Cheers.
Hi, the on line application allows for one employer details only. I am with 3 companies…Thanks.
Hi Steve. Thanks for your question. The online application form can, at times, be restrictive in the fact it makes assumptions about the number of employers a person generally has. Please contact Citibank directly to provide an additional information, you feel, may assist in your application. Cheers.
Hi Jeremy,
Say, If I got the Citibank Credit Ready – and decided to close this credit card in 2 months time.. Is there any penalty? Or I can just request to close it off as long as I don’t have any money owing?
Thanks, Marietta
Hi Marietta. Thanks for your question. Provided you don’t have any money owning, you will be able to close the account without penalty whenever you choose. Hope this helps.
Am I right in saying that the interest rate will remain at 1.9% for the life of the Balance transfer? If not, what does the interest rate revert to after the 9 months?
Hi Patrice. Thanks for your question. The balance transfer rate will revert to the Annual Percentage Rate currently 18.99% p.a. once the nine month introductory period is finished.
Can i use the card to purchase items and get cash out while overseas?
Hi Bernadette. Thanks for your question. This account can be used overseas the same way a debit card is used while traveling. A foreign currency conversion fee is charged when you make a purchase, this is usually about 2-3% of the total value of the transaction; local ATM operator fees and international ATM usage fees will also apply. For further information on the types of fees you’re likely to incur while using money overseas, please refer to our comparison of travel money options and our guide to using money overseas. Hope this helps.
if i hold a personal/ready credit card can i apply for a second new card to avail the benefit of 1.9%
Is the low interest rate on;y an introductory offer or does it apply to every purchase and cash advance in the future?
Hi Paul. The 1.9% interest on purchases, balance transfers and cash advances is a nine month introductory offer that begins when you are approved for the card. After the initial nine month period, the interest rate will revert to the annual percentage rate of 18.99% for purchases and cash advances. Thanks for your question.
Last week I paid off my ready credit and closed the account. I am looking at doing a balance transfer from St George for 22,800 with a limit of 24,000. If I put in an application to pay out my balance from St George will Citi lend me the 22,800 as a balance transfer?
Hi Andrea. Thanks for your question. It’s difficult to tell as your credit limit, which is based on your financial situation provided to the lender at the time of application, will determine exactly how much you can transfer through a balance transfer. Generally speaking a lender will allow you to transfer up to 95% of your approved credit limit. Cheers.
I applied for a citibank Ready Credit card today how do you inform us if I am successful?
Hi Sandra. Thanks for your question. Please check our article on checking on your credit card application for further information. Cheers.
It mentioned that one should have a good credit rating. I have any enquires in 2009 and 2010. After that 2011 and 2012 only 5 enquires and there is no any other remarks. Does my application will be accept for the ready credit?
Raj, as we’re not a lender we can’t comment on whether or not your application will be approved. Perhaps calling Citibank and discussing your situation with them will help give you a better idea of what they’re looking for? You can contact them on: 13 24 84. Thanks for your question.
Is the cheque to yourself classed as a cash advance, or is this considered part of the balance transfer rate for 24months at 5.9%?
Hello Sarah,
that’s a good question.
A cheque to yourself can still make use of the balance transfer rate for 24 months. You just need to call Citibank once the account is approved and nominate the amount up to your credit limit. A cheque for that amount will be sent with no questions asked.
I hope this helps,
Marc.
Do I get 5.9% for 24 months if I pay out my two car loans?
Hi Lee. This account allows you to perform a balance transfer from a non-Citibank personal loan / loans – up to your Ready Credit’s approved credit limit. Thanks.
If I apply for a credit card to transfer my balance of 2 cards in the amount $16500 & you only approve say $5000 will you automatically send out the credit card for that amount & do I get to accept or decline.
Hi Janelle. Thanks for your question. If you’re approved for a credit card, it will get sent out in the mail as an inactive card. You have to call the provider and activate the card to activate your credit card contract. If you call the provider and tell them you don’t want the card (before you activate it), they will cancel the credit card and you don’t have to enter into the credit contract.
I have been on a ready credit account for a few years now and was charged an annual fee of $99 can you tell me why this is the case when you state that annual fees are $0
Were you charged the annual fee recently? You could be on an old offer? Please discuss this with Citibank. It may be worth closing the account and reapplying with the $0 annual fee offer.
Hi there, is there a travel insurance covered?
Hi Jan. Thanks for your question. This account does not offer complimentary international travel insurance. For a list of cards that do, check our platinum and reward credit card comparison page and our frequent flyer comparison pages. Although there are types of cards that offer complimentary international travel insurance, most of the cards that do offer this benefit are platinum and rewards cards. Hope this helps. Jacob.
Can I roll over my Westpac Gold credit card balance for 24 months and pay the minimum interest fee only
Hi Sam. Yes, you can do this. You can apply for a balance transfer during the account application process. Enter you existing account number and how much you would like to transfer. At the end of the balance transfer promotional period, any unpaid amount from the balance transfer will be charged at the cash advance interest rate. Jacob.
Please advise on the below situation:
We have a personal loan of 24000 which we are planning to pay by doing a balance transfer using citi ready credit card balance transfer offer of 5.9% for 24 months.
However if we are unable to pay the entire amount in 24 months will the remaining amount move to purchase rate. If YES is it possible to another balance transfer from a different bank and repay the Citibank card and continue the loan with a different bank. Please advise if this is feasible.
Dear Sir. Just recently I paid off and closed my Citibank credit but now would like to reapply for your 24 month interest at 5.9% no annual fee card. Non of my details have currently changed. I would like to apply for an amount of $13000 to pay off all my other credit cards. Do I need to reapply, or can you help me without reapplying. This is a bit urgent as we are thinking of going away. Thanking you.
Hi Phillip. Thanks for your question. You will have to reapply if the account has been closed. You can do that through the review and application page. Jacob.
My name is Julius and I have GE GEM Visa card and with a limit of $12000 and I have used up to $9875 in this card and I wish obtain information if I can have low rate balance transfer credit card or Ready Credit facility to clear off this debt.
Your reply in this regard is highly appreciated.
Thank you
Julius.
Hi Julius. Thanks for your question. Yes, a balance transfer is an option for you if you’re looking to reduce your interest and total debt. A few things for your consideration.
1) This page has a comparison of credit cards with a balance transfer promotion that we list on the site,
2) this video will explain the basics and fundamentals of a balance transfer,
3) this video will explain what you need to do after you carry out a balance transfer, and
4) this page lists balance transfer revert rates – when the promotional period finishes, the balance will revert to the cash advance rate or the purchase rate depending on the provider, and it also lists the maximum balance transfer amount for each provider.
Let me know if you need more information on balance transfers and how I can help you with this.
Please subscribe to our youtube channel to stay up to date with the latest from the Finder crew.
Kind regards.
Jacob.
Hi. I am just wondering whether this offer has been extended and is still available?
Hi Anthony. Thanks for your question. This offer is still available and currently has no end date set. Please keep checking back to check the offer’s availability. Jacob.
Do you have e-statements?
Hi Ruth. Thanks for your question. Once you’ve applied for this card, you can contact Citibank and opt to receive e-statements. According to the Citibank website, this is what you need to do to register:
“1. Sign on to Citibank Online and select ‘Request Email Statements’ from the Account Services menu.
2. Change your delivery preference to ‘Electronic Statement’.
3. Create an eStatement Password – this will be used each time your open your eStatement.
4. Update your contact details and select submit.”
Jacob.
I already have a card with Citibank but am looking to transfer the balance from Citibank to a lower rate card with another bank. Unless I could do this within Citibank? Change to a lower rate account?
Thanks.
Nicole.
Hi Nicole. Thanks for your question. If you’re looking to transfer the balance from a Citibank credit card to another card at the promotional rate of interest, then it will have to be a non-Citibank card. Compare balance transfer offers here. Alternatively, if you’re not worried about the balance transfer offer, you can close your existing account and open a new account with a different provider, or Citibank. You can contact Citibank directly to see if they can offer you something because you’re an existing customer; however, I can’t comment on this. Jacob.
I have a balance on the Ready Credit line of credit which is set to have it’s low rate expire next month. All of the other balance transfer cards on your site say their terms for balance must be from either a credit card or store card of a different institution. My question is: as this is a line of credit and not a credit card, am I able to balance transfer Citibank Ready Credit debts to other institutions credit cards? (currently considering the ANZ 15 month 2.5% promotional card exclusive to your site)
Hi Graeme. Technically no. There’s a little confusion around whether this is acceptable. If you were to enter your Citibank Ready Credit Account Number in to the space where it asks for the account number when you go to carry out a balance transfer with a new card, it may be accepted. Please contact the provider of the card you wish to open and transfer to for further information. Jacob.
As I don’t earn $35,000 cause I don’t work full time any more can my husband and I have a joint application?
HI Sandra. Some lenders will let you apply for a credit card with joint primary cardholders. Have a look at the comparison table on this page for a list of providers that allow this. You can read up about this topic on this page too, it lists some of the benefits and things to look for with joint credit card apps. Jacob.