Petrol Credit Cards

Citibank BP MasterCard Review

While being the only petrol discount card in Australia, it is by no means uncompetitive. If you spent:

• $125 at BP on petrol a month
• $750 paying your bills and other purchases on your BP MasterCard, you’ve saved:
• $86 for the whole year: including offsetting the annual fee.

If you’re a frequent BP customer, or just all round frequent credit card user, you’ll understand the potential for $100’s saved.
*Note: Calculations made using old 1% off purchases figure. Current rate 0.5%.-

Who isn’t the card suitable for?

Like any card with a reward’s program or cash-back offer, if you don’t use your credit card regularly enough to at least offset the annual fee, then pass and apply for a low interest credit card instead.
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What are some of the catches associated with the card?

• The 5% discount at BP is capped at the first $300 of each new statement period. For petrol and petrol station groceries, it’s still quite a high cap. After $300, the discount reverts to 0.5%.
• The 0.5% cash-back offer everywhere else is limited to the first $5,000 spent per month.

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Citibank BP MasterCard Terms & Conditions

Subject to your acceptance you will be billed an annual account fee which is currently $79 for the Primary BP-Citibank MasterCard, and $30 for an Additional BP-Citibank MasterCard.

* The 20.39%p.a interest rate applies only to balances transferred with this offer and applies for 12 months from account opening. Transferred balances will be repaid first. Any transactions made other than with this offer are at the standard Credit Card rate, currently 20.39%p.a., which is variable, subject to change and Citibank’s credit criteria. Interest rate last updated 27/03/2008

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? 5% cash back rebates with BP is limited per account to the first $600 you spend at participating outlets each Statement Period.

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† All other Retail Purchases and bill payments (excluding purchases at any fuel outlet including BP) made using your Card will give you 0.5% cash back rebate on the first $5,000 spent on your Account during any monthly Statement Period from the date you are enrolled in the Rewards program. All cash back rebates will be automatically credited to your Account at the start of the next Statement Period.
The cash back rebate amount earned in your monthly Statement Period (Eg. Nov 15-Dec 14) will be reflected in a cash back summary on that month’s statement (Eg Dec statement). This cash back rebate will then be credited on the first day of the next Statement Period. (Eg. Dec 15). Accumulated benefits are forfeited if the account is suspended or closed.

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# Actual credit limit will be assigned based on Citibank credit criteria subject to confirmation that you earn a minimum of $20,000 p.a. and subject to your credit rating. Credit limit is up to $25,000 at point of initiation.

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º Citibank World Privileges – payment must be made using Citibank Credit Cards. 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 worldprivileges.citibank.com for up to date offer details.

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5 Purchase Cover is underwritten by Zurich Australia Insurance Ltd (ABN 13 000 296 640 AFSL No. 232507) and is subject to the Terms and Conditions and exclusions contained in the Policy of Insurance. Please refer to the Terms and Conditions sent to you at card opening for a full explanation of cover and exclusions.

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6 CreditShield® is underwritten by MetLife Insurance Ltd (ABN 75 004 274 882 AFSL No. 238096) and is subject to the Terms and Conditions and exclusions contained in the Policy of Insurance.

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** Transit Accident Insurance is underwritten by Zurich Australia Insurance Ltd (ABN 13 000 296 640 AFSL No. 232507) and is subject to the Terms and Conditions and exclusions contained in the Policy of Insurance. Please check the Policy conditions to ensure eligibility for cover. Please refer to the Terms and Conditions for a full explanation of cover and exclusions.

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© BP ABN to 5300 4085 616. BP and the Helios Design are registered trademarks of BP PLC and licensed to BP Australia Pty Ltd for use in Australia.

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© 2009 Citigroup Inc ABN 88 004 325 080, AFSL 238098. Citigroup, Citibank and Arc design are registered trademarks of Citigroup Inc. and are used and registered throughout the world.