These credit cards are reward cards with free insurances. Platinum card has five insurances while Signature has six. Minimum income apply. These are the best fee free credit cards I can find to date: no annual fee + 0% BT offer + reward points(1.25/1.5 per $) + comprehensive insurances. Enjoy.
Edit: this has been extended to the end of March or July 2014.
Yeah it was easy for me too. I had my account details ready to give him for the transfer and he offered me the cheque. I decided to take the cheque after hearing stories on here that they stuffed up account numbers and put in wrong account. I'm still waiting for it, just yesterday I got the letter saying it will accrue interest, but assuming its the error letter that others got.
wow, first week into new job after 2 months of unemployment last week. sent them new employment contract on Sunday evening, credit card arrived Tuesday?! crazy fast process
Anyone got any tips on who to speak to to push for the card?
I was declined and when I rang up I was told it was because I have just opened an account and need to maintain the account for 9 months before I can be considered for any new applications.
Now, this new account was a mortgage account, and the issued credit card came as part of the deal. I told them at the start that I don't want it as the card is no good compared to my current card, but it was part of the mortgage package and I had to take it. I didn't even want to activate it, but once I activated my account it automatically activated everything linked to it.
I want to push someone to either give me the Signature card (preferably) or the Platinum card, otherwise close down the free issued credit card. This is the only option I will give Citibank.
Basically, if Citibank gives me either the Signature or Platinum card, I will move my credit card facility over to them, otherwise I will close down the existing card and have nothing to do with them apart from the mortgage.
They cannot force you to take up the free credit card as part of the mortgage package. Essentially the loan officer or the sales staff was trying to meet his/her target by persuading you to take up (and activate) the free credit card. You should have challenged that back then and knock back on that offer. No where on the Citibank website says that the free credit card is compulsory.
In my view there's nothing you can do now. But I do urge you to continue seeking feedback from others.
Yeah, I have a feeling I am going to get stuck, but I will keep phoning up and escalating until I speak to someone who can make decisions.
Basically I now have a Citibank card that I do not want and will not use, but Citibank have the option of upgrading me to a card that I will use. It is also a card that I would have been approved for had I not been sold this dud card and not for their 9 month rule.
I am perfectly happy with my current card, but the $0 annual fee for life tips the Citibank card over the edge that I would move across.
Anyone with common sense should realise that this is an opportunity to gain a customer.
I wish I had been more switched on back when I signed up. The loan officer simply said, "it's okay, just chuck it in the drawer and never use it. You don't even have to activate it." Both lies as now I find out the card is not compulsory and also the card was activated automatically with my account.
dbun1 like i posted earlier on, simply call them up and mention the offer and ask them to covert your current card over to the $0 for life. if u have a current limit of 15k u qualify for the signature card if not ask for a limit increase first then convert it. but u need to wait 6 mths since you got the other card before you can increase a limit. i am not sure if you are allowed to apply for a limit increase then convert or upgrade the card right away u might have to wait another 6 months?
So once the BT is sent through, what will the repayments be each month?
Would they still send out minimum monthly payment bills?
yes of course, you always have to pay the minimum.
I received an email from Citibank saying that my application was approved (I even have 3 mortgages!). The strange thing is I checked online banking now and I can see my existing card (Citi Platinum) AND this new one. I think I need to cancel the Platinum one now and request my points/balances to transfer to a new one. I expected Platinum account was converted to Signature one but it wasn't. Also Platinum min limit is $6k and Sigature is $15k. I don't need $15k limit just $5-6k was fine but the staff said that's the min limit for Select a/c and if I want $5-6k limt only, they only give you different card (ie. Platinum) so I accepted $15k limit. Is there anyone to successfully negotiate the min limit to lower than the default one?
Don't think you can. It's like asking for a 2.0 litre Commodore or Falcon.
If you are knocked back, what appears on yr credit file?
Do you know how to check personal credit file for nix?
Credit file only records your application for the credit card. The outcome of their assessment will be off the records. Usually when a bank checks your credit file, if they see numerous attempts by other banks in checking your file, they become suspicious and will knock back on your application. They'll think that the other banks rejected your application and that you are trying one bank after another in the hope that you'll get a card from one of them. In a way, they do leverage off from other bank's assessment process (ie. if other bank rejected your application then so will they).
Or they'll charge you a higher rate on a personal loan. Fortunately this is about to change, with the introduction of positive reporting in March, when they'll be able to see exactly how you deal with credit, and will assess a good risk as a good risk, rather than the clumsy assessments they make off credit applications.
we'll see - imho it's too soon to be confident that a pattern of multiple credit applications with flawless repayment history will be punished any less than under the current rules. they're still not going to want to be 5th guy to extend someone unsecured credit, and under the new system your limits will be visble to creditors.
I got knocked back after sending in all the documents even though I met all the basic requirement e.g. age, residency status, income. I believe I have a good credit rating. I rang the 13 number and they said that I have recently applied for Virgin credit card and got it approved and that because Virgin money is a subsidiary of Citibank hence they cant approve my Citibank application. I ask her to put me through to someone at a higher level she said she cant. I really do not want to miss the boat. Is there anyway I can turn this around?
u need to wait 9 months or try calling up and ask them if your virgin card be closed or converted to this citi offer.
Anyone tried to apply the Priority Pass for the additional card using the invitation code?
I understand the code is basically for the primary card holder but who knows you can save $27/visit per person, for accesing airport lounge for your guest/mrs.
Cheers
Guys, for those of you that got the Platinum, and took 80% of your limit as a balance transfer (I'm assuming 12k), how much are your repayments?
My statement came through and my first repayment for the BT is $240. What about you guys?
Yep, being 2% of the total. Just pay that back for the first five months, then be ready for the balance.
set up two scheduled bpays now:
1) for $240/month for 5 months, for a week before your statement is due
2) for your BT - 5 * $240 for 6 months from card activation date.
I'm looking at this card also (I know only have another day or 2 to apply), how does balance transfer work? I mean I know what it is but I've read a few previous posts where some have taken say 80% of the limit as a BT, can you then get access to these funds to do what you like and not necessarily to pay off an existing credit card? If so this would be a great way to reduce interest payments on my mortgage for 6 months which I presume is what many of you do???
You won't lose anything by applying for a fee free card for life, and asking for cheque to self. Or just having it applied to your mortgage account.
True, do I need to do this after i've applied and been approved or is it part of the online application? Thanks
Once you apply and have been approved, you wait for your card to come. Once you get the card, you have to call them up to activate it, so at this time you ask them about the balance transfer.
I initially asked for a cheque to self but they declined me, so I asked them to put it into my account (gave bsb/acc details) and they obliged.
Can I ask why some people successfully got cheque to self and others got declined? I called a while ago and the operator said they don't offer the cheque to self on this deal??? How can you successfully get the cheque to self?
So during the online application when it asks for the number of accounts to transfer the outstanding balance from, do I just leave this at 0 and organise during activation?
Just don't fill in anything regarding BT in the application. Wait till you activate.
Cool, thanks, will ignore that section
Hi Ozzyt,
That's what I did. Took a BT and got them to deposit it into my offset account. I'll just leave it there to reduce interest for 6mths and hand it back to em afterwards! In the interim I've got another CC to see me through 6 months, after which I'll use the citibank one.
Hope this helps!
Damn, should've done a cheque to self and paid off my Amex directly. Now i'm waiting for Citibank to send them my balance transfer by cheque, which is taking forever due to all the public holidays, and my amex just closed and got hit with a hefty interest charge for holding a balance. Not happy Jan :(
It can take time (mine with Macquarie took forever to clear), but it's worth it when it's there.
Yeah I know but still not happy about having to pay an extra $250 to amex!
:s
I BT to Macquarie as well… how long did yours take to clear?
My balance transfer was cleared on Citi's side on the 9th December.
Still haven't heard anything.
Been trying to follow up from Citi and try to at least get a cheque number but still waiting for that.. :(
Wow. Just checked my Macquarie account.
Citi BT processed on the 9th Dec.
Macquarie APPARENTLY processed the cheque on the 17th Dec. No transaction listing, no record when speaking to their telephone guys. The transaction only just appeared TODAY as being processed on the 17th in my online account. That's quite appalling.
Yeh, it's terrible work on behalf of Macquarie.
Makes me feel extra pleased at selling my Qantas passes for $90, getting my bonus 40,000 Qantas points, and another 10,000 from a tax office payment (that'll cost them much more than their piddly 0.42% commission), and will close this before the year's out. :)
i called for checque to self and they told me no cant, only can send to another institutional.
it is ok if i ask them to send 80% to my ubank homeloan account?
edit: they called back and approved cheque to self.
so, i will lose the 55 days free interest? means better not to use the card till paid that cheque to self amount in full?
since the checque to self has 0% interest so i dont have to pay anything every month, right? (no retail purchases made)
When I applied the cheque to self, I asked whether I still can use the card for retail purchases while still having the 55-day interest free period. The lady said yes, as long as I paid the retail purchases balance in full, because the payment always goes to the element that incurs higher interest first. I can pay the BT balance later before the 6-month free interest period ends.
Maybe can anybody else also confirm this when requesting the balance transfer?
hmm based my own experience for balance transfer couple times, i can't use my card until all my balance transfer cleared first. every month, I still have to pay the minimum payment.
I would be weary of that advice. I thought after reading the T&Cs that if you incur other expenses, then you need to pay off the balance of the card otherwise you will start to incur interest. This is because your card's balance has not been paid in full, and so you will lose the 55 day interest free period for your purchases.
If you want to know for sure, you could test it by buying the newspaper at Woolies self service cash register! If they do apply interest to it over the 6 months it will cost you about 40cents but you will see it on your statement. If no interest charged on the statement, then you will know the answer!
I asked whether I still can use the card for retail purchases
yes
while still having the 55-day interest free period
no
the payment always goes to the element that incurs higher interest first
yes
not paying off the total debt, including any balance transfer, each month means that one is not eligible for interest-free purchases and any will attract interest from their transaction date
as per banking reforms, legally all new credit card contracts must have repayments made towards the highest-interest debt first
http://www.bankingreforms.gov.au/content/Content.aspx?doc=fu…
yes, of course, do not use the card for anything else until the statement cycle after you have paid off the ENTIRE balance transfer. and yes, you have to pay the minimum payment every single month.
So for any supplementary cards are…
You can, however, purchase entry at the lounge door for your guest, or use your 2 entry credits for you and your guest to enter once.
Do supplementaries get their own Priority Pass membership?
previously the invite code has been generic and so valid for any citibank signature card including supplementary ones :)
http://www.prioritypass.com/citibankaus
Are the supplementary card numbers different to the primary card number?
yes :)
do you still have the code?
sorry no :(
The link says offer is extended to 31 january 2014
just applied for a signature card. hoping for limit over $40k so I can have cheque to self and use $30k to park into my variable offset account for 6 months!
hey man how does this work? You cash out $30k? But then don't you just have interest on the cash out?
Its 0% for 6 months so as long as you pay the minimum per month and the balance before the 6 months you pay no interest for using their money (up to 80% of your credit limit).
See here for how it works http://www.news.com.au/finance/money/four-ways-to-get-free-m…
yeh thanks lad. Hope it's possible to balance transfer to loan account. I'm currently waiting for approval of the balance transfer.
edit: oh shit does it have to be a "cheque to self"????
I asked for them to credit the money straight into my loan account.
crediting the money is the same its better in your situation as there is less handling time.
ya cool, as long as there's no rule or condition around it. coz they intially asked me if it was another credit card balance I was transferring. I just said it was a personal loan account.
and you do not use the card for ANYTHING else until you've paid the entire balance transfer back, and every month you pay them minimum payment.
Does anyone have any issue getting them to accept an employee phone number?? I put down an 1800 number for the recruitment section of my work but doesn't seem to want to accept. Heck even other numbers I put down doesn't seem to work.
It's NYE and their online support isn't even working!
EDIT: seems to be working now.
hey anyone know if the Qantas rewards scheme is better value? i.e. worth the xtra $49
you need to figure out what each of the reward schemes are worth for you - there's no general answer.
remember that all schemes are a con unless you do not spend more money than you otherwise would.
I just called them lol. I gave them my direct line lol.
Its 0% interest on bt for first six months. But u still need to make a minimum payment 2-3% but thats fine anyways!
If successful i sill be $727 better off over a 6 month period. (30k, 4.84%, 6 minths)
ahhh so you use your offset account as the account to transfer balance to? got it!
I've already got my card but I can still do a balance transfer eh. Imma look into it. Thanks lad
Are the qff really appealing for u? Weifh up the costz to see x amount spent on the card is worth the redemption of flights? If not u be better off sticking to regular awards program and just using the points on neccessities ie i redeem my points for $250 bp card and use it on fuel
na i dont think I'll be spending enough to redeem international flights but Id like to use my QFF for class upgrades. but yeh I'll have to do the maths :P
If you're not a huge spender, you can accumulate Qantas points affordably by looking for credit card promotions. I got the Macquarie Platinum a month or so ago, which gave me 40k points for a $99 first year fee, which I should be able to recoup by selling the 2 Qantas Club vouchers. Woolworths Qantas card will almost always have 16k (sometimes more) points for new accounts, costing only $79 (it's a good card for earning points, too). In fact, my advice would be to not pay the $49 for Citibank Qantas points, and buy the Woolies card for the points.
Changes are happening from 2014 about credit rating..good to read..
its good to see that they extended the offer. i said earlier on that they might. thats good i can now wait a few more days before applying to meet the 6 month wait rule.
whats that rule :S ive applied for a couple credit cards in the past month, hopefully it's not negatively affecting my credit rating?
its citibank silly rules if you re an existing cb card holder who does a limit increase they need to wait 6 months or if you get a new citibank credit product u need to wait 9 months before u can apply for another cb credit product
ive applied for a couple credit cards in the past month, hopefully it's not negatively affecting my credit rating?
yes, multiple applications in a short time does negatively affect your credit rating, and a "month" is a short time period. try to avoid applying for anything for six months (and make sure you pay everything on time always).
Going to support this. Applied for a few cards that had promo offers on them to use and abuse then cancel. I meet all citibank criteria for a signature and have been denied.
The page now reports this offer has been extended to 31 January 2014.
Decided to jump on this.. good thing it was extended :)
Applied Sunday, sent through identification/payslip doco Monday night, approval email for Signature card received midday Tuesday..
That was quick enough.
FYI - not sure if its been posted in this thread, but I just arranged a 2nd balance transfer to be enacted on my signature card as the 1st one I did as part of the application process was only 60% of my credit card limit (I assumed I'd get approved for minimum amount - but I got higher limit).
When I called for the 2nd BT, they allowed me to take 80% of the available balance as a 2nd BT (so not 80% of the credit limit).
As such, I have got total BT for 92% of my credit card limit with citibank for 6 months, interest free.
Woop! More free interest!
Interesting, I wonder if you could just keep calling everyday to get another 80% of the available balance until you got to nearly 100%…
Sorry, probably already answered, but if I do the 6 month BT, is there a one of fee involved?
Nah no fees for me
Cheers
Just called and did the BT to my mortgage account, no issues. Thanks again.
Great deal, thanks OP!
Applied wednesday night for signature, conditional approval by thursday morning, full approval by thursday arvo (when I checked the status online, they never sent me any confirmation emails), and received my card and welcome package today! (Wednesday). Never sent in any docs and I highly doubt they called my work to check my income.
Left the credit limit blank on application and they've approved me for even more than the minimum! They must be pretty keen to get people in.
Same here, with the no id verification.
Also put down 10,000 limit. Got given 12,500
Were you a previous customer? I had the same situation but I thought it was because I was a former customer of Virgin Money (products by Citibank) and they might have still had my records on file.
I put in for $6k, & they rang and told me that the minimum for the signature card was $15k, and that is what they gave me. Makes me a bit nervous, and so I will try to get it reduced later.
as a matter of interest, is this card just worth applying for as a backup? and no fees will ever be charged, if i leave it there doing nothing. and will it be auto cancelled if nothing is done with it?
looking at a Signature card… or shall i try to get a Bankwest zero-platinum instead, for travelling to the US?
If you're planning on using it overseas, the Bankwest card has no foreign transaction fees for online or overseas purchases.
You won't be able to use the Citibank card overseas without racking up fees.
And what fees are there?
In most major cities, you can withdraw cash from Citibank ATMs at no fees too.
Applied for the Signature rewards back in late November. My income was over the minimum requirement but I have a home loan as well. Was knocked back 3 times, and they ended up sending me a Platinum card with $14000 credit limit. That's only $1000 off from the Signature!
Tried calling them again today and they said there's no point applying for any further reassessments as it won't get me anywhere. The lady on the phone was quite rude. Not sure if it's worth keeping the Platinum for now and then attempting to try again during the next promo.
I think they mentioned I can only reapply for another card in 6 months.
Maybe I shouldn't have disclosed all my repayments on my home loan :(
Wow, did u actually request reassessment three times with the first two being declined? How long did each one take? I was declined after being conditionally approved and now waiting for my reassessment to go through
Yeah I had to write a letter each time, pretty much saying the same thing in different words. Each time it took around 1-2 weeks (they say up to 10 business days) so that's why I've waited since late November for an unwanted outcome :(
Call them again and tell them that you are applying for signature card, however you have been approved for different product without your consent. it is illegal according National Consumer Credit Protection Act 2009. Tell them they should reject your application, if they offer platinum card, they should asked your consent, without consent and they substitute the product without client consent is illegal.
Yeah, bummer so close. I was rejected from Signature but approved on Platinum for $15,000. Go figure :(
read my comment above.
Just be wary for those on a Virgin Credit Card - if you are holding Virgin Credit Card and had recently been asked to accept a credit limit increase (but subsequently were not accepted), this will affect your Citibank credit card application. I had this issue as I previously was asked by the Virgin Money CS to increase my credit limit, but was subsequently decline and this is now recorded in the Citibank records. Basically if you aim to get a Citibank credit card in the future, dont ever touch Virgin Money products.
Did the activation on the new card today and did the balance transfer with 'cheque to self'.. very easy process and the money will sit in the mortgage for 5-6 months once it arrives…
Do you need to take advantage of the BT offer immediately or shortly after? I was told on card activation that they could offer me 0% BT anytime I want as I am a new customer. I asked even after a year say and the CS rep said yes.
Wrong information?
In case anyone is wondering, when I called up to activate my new Signature card, I chose to talk to a human, then straight out asked for the "Cheque to Self" option (rather than a Balance Transfer).
The guy on the phone took a few moments to check, then processed it with no problem at all. 0% for 6 months, for 80% of the credit limit (the maximum allowed). Should have it within 10 business days (but hey, it's Christmas, so we'll see).