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CitiBusiness Gold Visa Card $74 annual fee in first year

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CitiBusiness Gold Visa Card $74 annual fee in first year
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tonester on 16/08/2010 - 13:21 citibank.com.au (390 clicks)

If you pay for a credit card, then this should be it…

  • No points expiry and can transfer to Qantas/Virgin/Singapore WITHOUT paying/choosing to opt-in
  • $1 spent = 1.25 CitiRewards points = 1.25 Qantas points = 1 Velocity point = 1 KrisFlyer mile
  • Free travel insurances and purchase cover (replace/repair purchases if lost/damaged/stolen within 3 months)
  • World Privileges includes Presidential Card membership
  • Up to 55 days interest-free for purchases
  • $74 annual fee in first year (normally $149 or 19,900 points, otherwise can receive fee-waiver by threatening to cancel)
Financial Credit Card

Related Stores

Citibank Australia
Citibank Australia

closed Comments

  • salekhard on 16/08/2010 - 13:30

    One thing is not correct. 1.25 points per dollar is right. But only 0.66 krisflyer points per citi rewards point. So it works out 0.825 krisflyer points per dollar afaik.

    Also important to note that the points cap is $60 000 per year but it only happens haphazardly.

  • carlenet on 16/08/2010 - 13:30

    Perhaps it's just me, but I don't see much of a bargain here!? There are many cards that waive the first year with almost identical point schemes.

    • salekhard on 16/08/2010 - 13:33

      The (sort of) bargain is that this is the only non opt in card for qantas, so its pretty flexible.

  • Wampus on 16/08/2010 - 13:31
    -3

    You need to think hard before signing up for a card with a more than 20% interest rate. The other bonuses with this card would be more than swallowed up by that atrocious rate.

    • salekhard on 16/08/2010 - 13:33
      +8

      Who pays interest? I think if you do, you really shouldnt have a credit card as its just a killer at 20%.

      • Wampus on 16/08/2010 - 13:42
        -1

        I don't have a personal card, just a company one, so I can't comment really but I would suggest that about 90 per cent of people who have credit cards rack up debt on it. So that's who I'd say 'pays interest'.

        • lazed on 16/08/2010 - 13:50
          +1

          That's right, you can't comment. The people who are smart enough to use credit cards like this and use credit card points to their benefit aren't stupid or poor enough to not pay off their cards balance each month in full, therefore the interest rate is irrelevant. Have a look at all the other credit cards in the same league as this one, the interest rate will be virtually the same.

            • lazed on 16/08/2010 - 17:06

              @Wampus: Did you read what I wrote? Cards with similar features / reward programs ALL have similar interest rates. The interest rate is IRRELEVANT if you use the card properly. No wonder people are negging you when you're commenting with no idea.

              • Wampus on 16/08/2010 - 17:52

                @lazed: IF you use the card properly. Just because you do, will everyone else? All I was trying to do was alert people who might be interested to the citibank rate which is insanely high, and carefully not worded in the poster's comments.

                If you like the deal so much and are defending it this much, why dont you + it? Only one person has apart from the poster.

                • anthony on 16/08/2010 - 18:01

                  @Wampus:

                  All I was trying to do was alert people who might be interested to the citibank rate which is insanely high

                  No it isnt.
                  Insanely high would be if other credit cards were around the 5% mark, which they are not.
                  The average would be about 15%

                  Citibank do also have low rate cards on offer

                • lazed on 16/08/2010 - 19:36

                  @Wampus: I'm defending it against your false comments stating the interest rate is "atrocious", which is completely false since it is a similar rate to what's offered on comparable cards. You've even admitted you shouldn't be commenting because you don't even have a credit card and don't know how they work so I'm not sure why you're arguing here.

    • [Deactivated] on 16/08/2010 - 13:49
      +3

      Only suckers pay interest on credit cards. People who think they might struggle to pay the balance in full at the end of every month should think hard about signing up to any credit card, let alone this one.

  • Besean on 16/08/2010 - 13:34
    +2

    Bank West Zero Platinum - Zero fees, all the benefits except for the rewards program.

    • n412io on 16/08/2010 - 14:10
      +1

      I think its kinda hard to compare a CC without a rewards program to one that does have a rewards program.

      If you dont need a rewards program fair enough but not really a fair comparison.

    • looseylu on 16/08/2010 - 23:44

      +1 for the free travel insurance

  • jv on 16/08/2010 - 13:57
    -7

    All my credit cards are fee free, 55 days interest-free, and all have rewards programs…

    • JDogman on 16/08/2010 - 14:05
      +2

      please tell us what credit cards you use jv, I'm looking for a new fee free card with rewards!!

      I only really know of the AMEX fee free ones with rewards programs!

      Thanks mate.

      • jv on 16/08/2010 - 17:19
        -2

        AMEX Gold Card (ACS)
        VISA Gold Card (CBA)
        MASTERCARD Gold Card (Coles Myer)…

        All 55 days interest free and no annual fees…

        • atlas on 16/08/2010 - 20:02
          +1

          Where do you get this CBA Visa Gold Card free of annual fees? As far as I can see, only the first year is free.

          • carlenet on 16/08/2010 - 20:04

            @atlas: Possibly has a mortgage with CBA!?

            I have two cards through Westpac with my mortgage…I wouldn't call them fee free however as I'm basically paying for them in my yearly mortgage fee.

            • jv on 16/08/2010 - 23:21

              @carlenet: No mortage.

              ACS used to be affiliated with CBA before they switched to AMEX…

              Have kept the Gold VISA but they've never charged me a fee…

    • polkadots610 on 16/08/2010 - 14:07
      +2

      Instead of just saying that your have fee-free credit cards that still provide reward programmes, why not just tell us what credit card should people sign up for instead of the one OP suggested?

      edit: whoops. typed too slowly. JDogman beat me to it(:

    • atlas on 16/08/2010 - 14:21

      I have a BMW Amex, LIV Amex, and an HSBC Classic Visa. All three have no fees and have rewards programs. But I don't think you get the travel insurance.

      I also have a NAB Visa Mini just as a spare but I do pay an annual fee on that one… except you get 1% rebate of your monthly spend up to $10 per month, so in a year you get about $120 back. I think the fee is about $49 or thereabouts. It's only handy because I bank with NAB.

      Oh and yes, I pay all cards in full every month.

      • JDogman on 16/08/2010 - 14:26

        I just checked HSBC website and the Classic Visa has a $59 fee. Did you get the card on a special offer?

        And what is a LIV AMEX? I couldn't find it!

        Thanks for your help atlas,

        JDog

        • atlas on 16/08/2010 - 20:03

          Yeh the HSBC was on offer from the bank as I'm an existing customer.

          However soon there after they opened the offer to the public - and it was quite popular here on OzB.

      • coolsteps on 16/08/2010 - 19:20

        I think that the nab mini visa card has now reduced their rebate to 0.5% and i dont think you can apply any longer and the annual fee is $19 but i got mine waived for life.

    • cactus68 on 16/08/2010 - 14:23

      yes please do tell, I am also interested in a fee free CC that I can still get my QFF points on.

      • JDogman on 16/08/2010 - 14:36

        I just checked the BMW Gold Card is FREE and has QFF points!

        I'm up for that!

        I think its a $2 spend for 1 point though! BUT ITS FREE so I am not complaining!

        edit: I think it might actually be 1 point per $1

        It says no annual fee but is it just waived the first year or is there no annual fee at all? Could someone else also please check!

        And they have a 10000 free QFF points offer when you spend $500.00 on the card within the first 2 months of activating it!

        • atlas on 16/08/2010 - 15:19

          LIV = Law Institute of Victoria

          It's essentially the same as the CPA Amex card - just different branding. It's also essentially the same as the BMW card.

          I'm also pretty sure it's $1 per point, sometimes with specials for certain retailers where u get bonus points. There should also be no annual fee for the life of the card - most Amex cards, at least the basic ones, have no annual fee. I believe this is in part due to the higher fees they charge retailers, which leads to smaller retailers generally not accepting Amex. But most major retail chains will happily take it.

          Supplementary cards are also free, and their card security is pretty awesome. Had some dodgy iTunes imposter retailer try to scam my card and Amex were all over it.

          Oh but best of all, the BMW card matches your BMW key perfectly lol =)

  • skim on 16/08/2010 - 14:57

    Citibank has horrible customer services
    I have had a CC with them for 4 years spending fair amount every month.
    They refused to change my credit card to a different card when I requested due to low credit limit. So I requested to lift my credit limit then they told me to wait 9 mth for it.
    I ended up cancelling the card as I could not stand their crap anymore.
    They srsly need to help the customers instead of making them angry…

  • NeoX on 16/08/2010 - 15:08
    +2

    I have the citibank platinum with full platinum benefits with no annual fees for LIFE :) I love that promotion when it was available. My sis regret that she didn't sign up to it eheh

    • [Deactivated] on 16/08/2010 - 16:20

      I have a Citibank Platinum with no fees for life here too; I signed up when they had a no-fee Gold card promotion and they upgraded me to Platinum a year later. I doubt I'll ever find a better value credit card. :)

    • blinker on 16/08/2010 - 16:22

      Hi NeoX,
      I also have a Citibank Platinum and distinctly remember them saying there was no annual fee ever. One year later, they charged me an annual fee. When I inquired, they said it was only the first year that was free. I've been looking through my paperwork to double check but no luck.

      • [Deactivated] on 16/08/2010 - 16:26
        +1

        Never had to pay an annual fee for the past 3 years on my Platinum. When they sent me the card, the covering letter (which I still have) specifically said that there are no annual fees for life.

        • nickj on 16/08/2010 - 16:52
          +1

          I'm the same. Kept the letter exactly in case they try to change it later. Until I'm dead, that would be a bad move, seeing as I keep excellent records :-) I just wish there was something worth using their rewards points on. A few years back they had the Nokia N95 for points equivalent to $100 cash + $17 cash shipping, which was great (sold 2 of the 3 phones got on ebay for ~$500, kept the other). Haven't really seen anything that has seemed like good value on Citibank rewards since then.

          • blinker on 16/08/2010 - 17:08

            @nickj: Found one of my handwritten notes recording the conversation when I applied for the card - and noted I had scribbled "no annual fees" - still searching through my files.

            Nickj, also picked up two N95s in that offer too - maybe they're trying to get back at me:)

    • salekhard on 16/08/2010 - 17:18

      It's good, however you still have to choose whether you credit to qff only or citirewards, so its more restrictive in that sense. Plus if you want to direct credit to QFF you have to pay $49 (afaik) per year.

    • Dark Zeus on 17/08/2010 - 15:58

      I got one too!! And my partner as well. Free points and fee free for forever until the death.

  • Castrom8 on 16/08/2010 - 16:31
    +2

    I personally find this expensive, not to mention their bad reputation for customer service.

    There are heaps of other cards that are completely fee free. If you are after ff points check out some of the cards already mentioned above,
    eg. the BMW card (http://www.bmw.com.au/com/en/insights/bmwfinancialservices/B…)

    the virgin card for velocity points (www.virginmoney.com.au/CreditCards)

    If you're after member benefits such as complimentary travel insurance check out free platinum cards, eg. bankwest no-annual-fee platinum card (www.bankwest.com.au)

    Hope this helped.

    • No on 16/08/2010 - 18:46

      The BMW card looks good, is there a no annual fee visa or master which does FF points? Even if its 0.5 to the dollar.

    • Cluster on 16/08/2010 - 19:49

      I have no idea why the post was marked negative by two people.

      I didn't know about the BMW card. A frequent flyer card with no annual fee is a very good offer. If I was looking for a new card I would seriously consider it.

  • salekhard on 16/08/2010 - 17:16

    Most people dont realise that this is the only visa card that you can credit to both qff and krisflyer at a top rate. That is why it's good.

  • anthony on 16/08/2010 - 17:43
    +1

    To those saying this is a bad deal have a look at the QFF points.
    1.25 points per dollar spent.

    This is the only VISA card i know of which gives you that many points per dollar.

    Normally if you want more than one point per dollar you need amex

    • delfredo on 16/08/2010 - 21:31

      How much do you need to spend so that the benefit of additional 0.25 points per dollar spent outweights the cost of $74 annual fee?

      • anthony on 16/08/2010 - 23:40

        Well the points are capped at $60,000 of spending which gives you 75,000 points

        Compared to a normal visa you need to spend $75000 to get 75,000 points.

        You can spend $15,000 less to get the same number of points on the card.

  • delfredo on 16/08/2010 - 21:28

    How do you apply for this if you haven't got a business?

    • anthony on 16/08/2010 - 23:41

      Well the card is a business card..

    • Cluster on 17/08/2010 - 01:07

      Apply for an ABN? Anyone can get one.

  • McMerc on 16/08/2010 - 23:38

    Any cards that offer to cover overseas travel insurance with minimal spend like ANZ Gold (only requires you spend $250 towards travel). I've already paid my airfares.

  • twig on 17/08/2010 - 20:51
    -2

    $74 annual fee? No thanks.

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