This was posted 8 years 8 months 9 days ago, and might be an out-dated deal.

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Citibank Rewards Platinum Card - 24 Month 0% BT (+ 1.5% BT Fee), $0 Annual Fee for First Year

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Citibank Rewards Platinum Card - 24 Month 0% BT (+ 1.5% BT Fee), $0 Annual Fee for First Year
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padman on 22/04/2016 - 10:15 citibank.com.au (2199 clicks)
Last edited 05/05/2016 - 10:49 by 1 other user

Useful for obtaining a cheque to self to put in your offset/savings account. The total balance transfers may not exceed 80% of your credit limit. Depending on the BT amount, the benefit (interest saved/earned) could exceed the annual fee in the second year. Alternatively, take it out for the first year and then threaten to leave to get the annual fee waived.

Features:

  • 0% p.a. for 24 months on balance transfers (Reverts to cash advance rate)
  • 0 annual fee in your first year (normally $199)
  • Complimentary International Travel Insurance
  • 2.5 additional rewards points per $1 of domestic spend for the first 3 months (up to 20,000 bonus points)
  • Earn 1 Citi reward point per $1 spent on eligible domestic purchases (up to $10,000 per statement period)
  • Earn 1 Citi reward point per $1 spent on eligible international purchases (uncapped)

5/5: Website is displaying "(1.5% BT fee applies)"

Financial Credit Card

Related Stores

Citibank Australia
Citibank Australia

closed Comments

  • ronnknee on 22/04/2016 - 10:26

    Useful for obtaining a cheque to self to put in your offset/savings account.

    I'm interested in doing this. Can you explain how this is done?

    • IsTops on 22/04/2016 - 10:37

      Citibank sometimes offers clients a cheque of x amount.
      When you get the cheque, bank it into your savings account.
      If you've linked that savings account into your home loan offset account, you can use that cash to offset your home loan.

      • ronnknee on 22/04/2016 - 10:38

        How do you initiate the balance transfer?

        • hys on 22/04/2016 - 11:24

          either via their online banking or over the phone

    • MrTweek on 22/04/2016 - 12:13

      Balance Transfers are basically just transfers from one credit card to another.
      Ideally, you just get them to transfer their max amount to your debit card which means you have a free 24 month loan for that amount.

      I never tried this with debit cards though, not sure if they check the type of card.
      If they do, you'd need any other credit card to have the money transferred to and then move it to your account from there, or just withdraw cash from an ATM.

      • Baysew on 22/04/2016 - 13:56
        +2

        Simple solution - Just get cheque to self

  • ellave on 22/04/2016 - 10:31
    +1

    I got rejected from Citibank a few weeks back, first time in my life I've been rejected any type of credit.

    • tomleonhart on 22/04/2016 - 10:34
      +1

      I got rejected by Citibank on multiple occasions :( I don't even bother trying anymore.

      • ellave on 22/04/2016 - 10:39

        Good to hear it wasn't just me, TBH I think it was Virgin that screwed me. I applied for one of their CC to use their cheque to self & they gave me a $2000 card limit, so I canceled that which gave me credit history a unnecessary hit.

      • hys on 22/04/2016 - 11:26
        +4

        same, was requesting for a upgrade to the signature.. they declined

        so i requested to have all my services cancelled (plat card, savings account and line of credit account), they promptly passed me to another team and gave me what i want :)

        • T-man on 22/04/2016 - 14:39

          I am glad that you did that, a bunch of morons is working in Citifail. I closed all my bank accounts with them when someone in their security department stole my money and refused to refund the money back to my account. I had to lodge the dispute with FOS to sort this out.

  • Peck on 22/04/2016 - 10:44
    +1

    Whilst I have read a few complaints from time to time on OZB, I have dealt with Citibank a lot, and I always get great phone service.
    I agree with the OP that this is great for the BT. (I forget how I did this, but I recall that it was easy - even for me. I think that maybe you nominate it when you apply)
    Bonus points are hardly worth chasing though requiring a $8,000 spend in 3 months to get the max 20K and those 20K points are only worth, for example, $50 Coles gift voucher. And worth about $50 if used as an annual fee credit.

    • richie83 on 22/04/2016 - 11:30

      Citibank have always been good for me and phone service is fine. I don't use my card at all, I just balance transferred an older card to it when they had 24 months BT last time. They also just introduced SMS confirmation for large spends online, which is nice.

      The best part is their dining rewards thing. I go out pretty often for work and leisure and always surprised to find the restaurant I'm at has the free bottle of wine, I take advantage of it all the time. Easily would have gotten $300-$400 worth of wine out of it over the last 12 months, which is more than the card fee I'm paying.

    • Coley on 22/04/2016 - 14:45
      +1

      I believe it also comes down to type of card you have/apply for. The higher tier cards have premium call center numbers and the difference is noticeable. I have the signature card and calling the premium number on the back, the call centre staff have always been very helpful, well spoken and have fixed my concerns everytime (touch wood).

      • am274 on 26/04/2016 - 23:43

        similar experience, I have always received great service from citi call centre staff for my signature card, best by far with any other bank, never disappointed

  • SuiCid3 on 22/04/2016 - 10:56

    Unless they've changed their application process in the last year, Cheque-to-self requests need to be done over the phone.
    This can be done once you've received the card.

  • abc on 22/04/2016 - 11:30

    Existing customers eligable?

    • arctan on 22/04/2016 - 17:57

      Same question here

    • JetBombat on 22/04/2016 - 21:33

      New credit card customers only.

  • yycan on 22/04/2016 - 11:32
    +4

    Will there be another fee free for life?

  • PLANT on 22/04/2016 - 11:39
    +1

    I rang 3 days ago and no offer on existing Fee Free Sig card for 0% BT or cheques to self :(
    I think it will be new applications only!

    • abc on 23/04/2016 - 11:01

      You may be able to get 2.9% over 24 months.

  • ChatCPT on 22/04/2016 - 11:42

    I just closed My Citi platinum and threatened to close my Signature too if they wouldnt give me another cheque to self. Failed.
    So i closed my Platinum but kept Signature because its a good card + no annual fees.

    Wonder if I can get it if I reapply

    • donbot on 22/04/2016 - 12:10

      Out of interest, why the two cards? And what kind of limit (as a % if you'd rather not say), did they give you on your second card with them compared to the first?

      I'm keen to exploit with BT offer - but have a significant balance on a fee-free for life signature that I'm not quite ready to part with.

      • ChatCPT on 22/04/2016 - 12:59
        +1

        i got them both fee free with 15k limits - gave me 80% so 24k in cheques interest free for a year.
        Then went back to them for another 24k - they said no :(

  • CheapskateQueen on 22/04/2016 - 11:42

    What credit rating do you think you need for this? Think I'm only in "good" atm

    • jjcf on 22/04/2016 - 15:05
      -1

      Credit ratings don't exist in Australia.

      You have a credit history. The banks put that through their own internal filters to decide whether or not to lend to you. It's different for every bank, and within banks, different between product lines.

      Some (read: citi) of them will just rely on a Veda score these days, especially for miscellaneous junk like credit cards. Vedascore in general is just a marketing tool designed to trick you into giving those knobs money (or your contact details so you can get spammed into the ground).

  • Sshanaz on 22/04/2016 - 11:44
    +2

    Title is misleading. You could only get this rate and offer if you secure at least Good band with Veda band. The application still requires credit assessment approval who would ask for copy of payslips and payroll details to confirm your employment and salary.

    This promotion is available since 2014 and cheque to self is only available once your card has been activated and you need to ring them. It is 80% of your credit limit and you generally pay 2% during each month as minimum balance payment.

    If you get balance transfer/cheque to self, ensure you never make retail purchase otherwise the interest rate of 22% kicks in from the same day.

  • ChatCPT on 22/04/2016 - 11:48

    Would the Veda Score band Checking thing - get recorded on your credit file?

    • Sshanaz on 22/04/2016 - 12:07

      No, only if you proceed with credit card application then it happens at the end of application.

  • mily on 22/04/2016 - 12:16
    +1

    Still waiting for a free for life signature card offer, Citi is not very active this year.

  • Obs on 22/04/2016 - 13:28

    The t&c state "New credit card customers only." I wonder if this is a new condition or means that signature card holders are excluded?

  • porsche26c on 22/04/2016 - 14:19

    good way to save money in the offset for 24 months. set up minimum direct payments per month and pay the balance off before the interest kicks in. you have to make sure you dont use the CC otherwise interest kicks in.

    • Coley on 22/04/2016 - 15:04
      +3

      Technically you can still use the card, just the 55 day interest free period on new purchases is not available so you will occur interest on new purchases straight away. I have used the card to pay for dinner (Citibank dining offer - free wine) with a current BT active and then transferred the same amount to the card to pay it off straight away. The CC charge and payment cleared on the same day so there was no interest changed.

  • njpd875prv on 22/04/2016 - 16:06

    Pretty sure these guys allow loan transfers, so if you have a 2 year loan you can transfer over and save yourself a decent amount of interest. That is what I have done with my Virgin credit card.

    • [Deactivated] on 22/04/2016 - 16:31

      can I transfer my mortgage over to this card for 2yrs and pay off without interest

      • cozmo on 22/04/2016 - 17:57

        Im sure you could if you get approved for a 200k+ credit limit or however big your homeloan is….. just get that paid off/hoyse remortgaged before the 22months as 22% interest on that sort of money would quickly wipe out any money you save. Remember to include any early payment , settlement then loan application fees in your calulations to see how much you would save……. not that they will approve the card with that large credit limit.

        • theophilusthistler on 22/04/2016 - 23:26
          +1

          With an offset account there is no need to refinance, and no costs to draw the funds back from the offset account.

        • ninetyNineCents on 06/05/2016 - 17:38

          @theophilusthistler:

          I think cozmo is suggesting people could close the homeloan after transferring the lot to the card, and hope they pay the amount owing before the 22 month period.

  • eegos on 22/04/2016 - 19:01

    Can we do BT from this (Platinum) to Signature card?

    • JetBombat on 22/04/2016 - 21:35

      New credit card customers only.

  • kma on 22/04/2016 - 20:45
    +1

    "Sorry we were unable to generate a VedaScore band
    There may be a couple of reasons we were unable to provide a VedaScore band."

    this is the message i get every time?

    • JetBombat on 22/04/2016 - 21:35
      -1

      yes

    • coll76 on 22/04/2016 - 22:42

      have you changed address/ state recently by any chance? moved to vic from nsw about a year ago. got this message until i used my old nsw licence number

      • kma on 22/04/2016 - 23:25

        Yes 2 years ago from Vic to Qld. Don't have the old license number :(

  • JetBombat on 22/04/2016 - 21:36

    An annual additional cardholder fee applies, currently $90 per card.

  • coll76 on 22/04/2016 - 22:39

    so does the 1% balance transfer fee apply to the cheques as well?

    • theophilusthistler on 22/04/2016 - 23:23

      You mean 0%? I'm pretty certain it does, that is a cash advance.

  • ninetyNineCents on 06/05/2016 - 17:43

    Do citi reward points have the same value as QFF or Virgin, where its thousands to get a gift card worth $100 ?

  • mangoice on 07/05/2016 - 09:26

    It's not 0 annual fee for first year
    Normal fee is 249 discounted for first year to 199

  • padman on 07/05/2016 - 09:40

    Looks like they have removed that page. Marking this as expired.

  • SuiCid3 on 10/05/2016 - 13:27

    The website hasn't been displaying the offer for a while now.
    Need to apply via this link: https://citibank.veda.com.au/Home/Apply?product=CITICC
    You will only see the offer if your Veda score is above 'Good' but I don't know what offer is available.
    I applied about 2 weeks back and $0 for the first year was still valid.

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