Just received another email around these Citi Quick Cash bonus offers.
May be a targeted offer for Citibank customers - check your emails
Earn a $100 e-Gift Card to spend at Myer, JB Hi-Fi or Coles when you convert $2,500 or more. Offer limited to one e-Gift Card per account.
0% pa interest rate
6 month term with a 0.9% fee or 12 month term with a 1.9% fee
not enough credit limit now after a few $100 deals.
anyone knows if I could pay via bpay to recover some of my limit?
Don’t repay the cards manually to recover limits. I did that and it cancelled all my remaining quick cash terms that had been setup, so I lost 3x $100 gift cards that hadn’t been sent to me yet.
You can part pay it, however need to be mindful how much is remaining on the balance and future payments before you receive the card.
took up same offer that ended yesterday. now they send me this. are you allowed to take up the same offer twice in the same billing cycle?
Check the expiry In the small print to make sure it's not the same offer.
There was one that ended on 2 September and then a new one that ends on 25 September.
so weird, they sent me an offer this morning after I only took up an offer few weeks ago.. I wonder if it's same offer (dates)
can someone explain to me in laymans terms what this is? I received the offer and I have the available credit ($2500+). Is this like a cash advance, and doesn't the 1.9% fee cost $47.50 in fees anyway?
Yeah I'm missing something as well. Others seem to be taking advantage of this deal, but I can't work out the benefits of it
It is 0.9% for me.
So if I take up borrowing 2500 for a once off 0.9% charge, it will cost me 22.50.
But in return, I will get a $100 gift card.
Can you pay off the $2500 in 1 go after receiving the gift card?
Does the $2500 balance or $416.67 repayments get included in your statement for upcoming months?
Yep that's basically it. Like a loan but using your credit card balance and no need for a credit check etc.
However most people here are just using the facility to get the gift card and just park the $2500 into a savings or offset account. To take advantage of the deal, if you are offered the 6 month @ 0.9% then that is a better option as for a outlay of $22.50 you get a $100 e gift card
Does anyone know how the repayment works?? ie. a fixed amounts monthly repayment or so long the loan amounts are paid off within the six months loan period then will be fine and no interest charge??
I did 2500 last time. Repayments start a statement later than you expect. It was 416.67 for 6 months, $22.50 debited upfront .
The trick is that Citi is misleading. I keep a handwritten spreadsheet of the 416.67 plus the closing balance for the month spend. You need to repay both.
As long as you pay off the closing monthly statement balance, then you should be fine
i see. As i applied last month and nothing come through for payment yet, was a bit worry about the high increase rate. Good to know that they are actually a statement behind. I had made the $417 manually just in case. Thanks for sharing mate.
No problem. Citi also has a great 3 month repayment on purchases that start a cycle late. They text you a take up offer as soon as you do the spend. I’m not sure if it is guaranteed, but I get it every time. I mention this because if your account is in credit by those few cents, you cannot take up the offer until you spend over that credit, as they can’t loan you the say $5000 for the purchase unless you actually owe $5000. Just a little hint for the Citi card plans on purchases.
Also, the plan appears on your statement the cycle that it is due. First as 0 of 6 months, then 1 of 6 months. So you could get the extra cycle still, can’t recall.
Last time 0.9 fee for 6 months now 0.99
Last time the name was quick cash now flexibill
Hmm…
Well take it up again. Why not.
I got quick cash and .9, I wonder what that’s about
has anyone got the $100 gift card yet? I signed up on Aug 12, still havent got it yet. T&Cs says 16 weeks from the first installment date but hoping to get it sooner
for me:
0% p.a. with a one-off fee of 4.99%. For 12 months.