Citibank Ready Credit – Details and Application
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.
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.
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 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
- 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.
- 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.
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
|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.
|Max Credit Limit||$30,000|
|Annual Fee||$0 p.a.|
|Balance Transfer Fee||0%|
|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|
- 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.
- 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).
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