This was posted 2 years 1 month 18 days ago, and might be an out-dated deal.

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Borrow $10,000 minimum from Citi Personal Loan Plus ($199 Establishment Fee), Get 150,000 Bonus Velocity Points @ Citibank

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Borrow $10,000 minimum from Citi Personal Loan Plus ($199 Establishment Fee), Get 150,000 Bonus Velocity Points @ Citibank
Go to Deal
blueyez on 04/10/2022 - 12:37 www1.citibank.com.au (430 clicks)
Last edited 12/10/2022 - 19:48

**marking as expired due to website page changing **

An update on the previous offer, however the minimum loan amount has increased https://www.ozbargain.com.au/node/713039

Enjoy 150,000 bonus Velocity Frequent Flyer Points with a new Citi Personal Loan Plus of $10,000 or more by 30 November 2022 and activate your account within 90 days from approval. An email will be sent requesting your Velocity number at some point (refer to comments in previous deal)

You can pay the loan off early, however note there is a minimum repayment amount each month. So for those wanting to reduce the loan amount outstanding please factor this in so you don't miss out on the points.

Citi Personal Loan Plus is your low rate unsecured personal loan with a reusable credit facility. Enjoy a low variable rate of 8.90% p.a and a Comparison rate of 9.18% p.a when you apply.

Rates and Fees

Annual Percentage Rate (APR) 8.90% p.a.
Comparison rate 9.18% p.a.
Establishment fee - One off payment of $199
Monthly fee $0
Early pay out fee $0, meaning you can pay out the loan early without a penalty
Additional repayments fee $0
Cash advance fee $0

Financial Frequent Flyer Loan Reward Points Velocity Frequent Flyer

Related Stores

Citibank Australia
Citibank Australia
Velocity Frequent Flyer
Velocity Frequent Flyer
Marketplace

closed Comments

  • His_Holiness on 04/10/2022 - 12:41
    +2

    When I applied for the previous deal for a $2,000 loan I was knocked back despite being on a 6 figure wage and mortgage under $250k.

    • YasimKudomi Pape on 04/10/2022 - 12:57
      -4

      I think they are struggled to justify lending 2k for those who are earning over 6 figure wage a year. It's basically equivalent to one day salary of work.

      • bio on 04/10/2022 - 12:59
        +7

        6 figure may mean $100,000, which equates to $384 per day, and that is before tax, and possibly super, so basically $264/day net pay.

        If it's $999,999, then yeah, you are right.

    • dyziplen on 04/10/2022 - 13:09
      +2

      Probably because you aren't going to be profitable for them, and just out to get the points.

    • Iluvfreebies on 04/10/2022 - 13:12
      -5

      You earn 6 digit and waste your time on ozbargain?

    • sunnyc on 04/10/2022 - 14:11

      Why would you apply for a 2k deal if you have 6 figure salary

      • dyziplen on 04/10/2022 - 14:19
        +2

        For the points?

        Apply for 2k, pay the 199 admin fee, repay 2k the next day. Get 150k points which equates to at least 600 bucks in value. (Coles $100 gift card is 21800 points, 150k will get you 600 with points left over, and gift card redemption is typically the worst way to spend points)

        Citi probably saw the Ozbargain badge from a mile away and noped right out.

        • kerfuffle on 04/10/2022 - 14:22

          You shouldn't be paying back all $2K because that means your account won't be active and you won't get the points. Most people are just leaving a few hundred or so remaining

        • sunnyc on 04/10/2022 - 19:33

          The $199 fee and your credit rating dropping to oblivion

          • jasonb on 06/10/2022 - 00:41
            +2

            @sunnyc: Mine dropped exactly three points after I applied for the last iteration of this deal shrug

  • priceaintright on 04/10/2022 - 12:48

    So theoretically if I took a 10k loan and paid it back immediately, that'd be a $199 swap for 150k velocity points (and a hard credit check)… worth?

    • kerfuffle on 04/10/2022 - 12:49

      It was better when there was no minimum and you could borrow as little as $2000. You just need to leave a small amount outstanding until your points roll in

      • nightelves on 04/10/2022 - 13:17

        Hey Kerfuffle are you meant to transfer the amount out and then put back the amount? I'm so confuse with this loan thingy.

        • kerfuffle on 04/10/2022 - 13:24

          I don't know. I just got my loan into my account today and also trying to figure out how to pay (most of) it off

          • nightelves on 04/10/2022 - 13:56

            @kerfuffle: So the money was out in your bank account already?

            • kerfuffle on 04/10/2022 - 13:56

              @nightelves: Yes. I activated my card yesterday and the loan amount arrived in my nominated bank account today

    • sanglt on 04/10/2022 - 14:19
      +1

      I think it take a while before the points roll in.

  • Froot Loops on 04/10/2022 - 12:58
    +6

    Citibank = Cancer

    • dyziplen on 04/10/2022 - 13:10

      They are called the NAB these days. Might not make a difference, but they make sure everyone knows that Citi is gone everytime the app is opened.

  • HolyCr4p on 04/10/2022 - 13:36
    +1

    Nah thanks. Loan is loan.

    • nightelves on 04/10/2022 - 13:56
      +2

      Used to be $2k loan for 150k Velocity. That was a bargain for sure.

      • whey4000 on 04/10/2022 - 14:08
        +2

        Does it really matter if its 2k or 10k, can just pay back 99% of the loan as soon as you can.

        • nightelves on 04/10/2022 - 14:42
          +1

          Yes it does because it affects your ability to apply for credit card and refinancing.

        • Dogsbreakfast on 07/10/2022 - 18:33

          They denied me on a 2k loan. Great credit rating, own home and still denied lol

  • dan0909 on 04/10/2022 - 14:33
    -5

    I am so over this points bullshit, every time I calculate my brain hurts for people who fall for this shit. Here goes…
    Borrow $10000 and payback within a year (or right away) & you get 150000 points. 150000points = $270 (based on 1.8 cents per point). But take out the annual fee $199 so you have 270-199 = $71. That $71 is for spending 1-2hours applying, calculating, running hard credit check on your file. Not worth it + now you are tied to using their airline or online shop which is at least $10-$100 more expensive than Amazon-eBay or deals on Ozbargain. So you loose.

    • sanglt on 04/10/2022 - 14:35
      +4

      Pretty sure your math is not correct. 150000 points worth $1500~$2700 (1 cent - 1.8 cents per point). Most of people trading at 1 cent per point.

    • shegeloaf on 04/10/2022 - 15:02

      Plus one has to pay the interest 8.9%.

    • spiff on 07/10/2022 - 15:29

      You obviously failed school 😂

  • 76F on 07/10/2022 - 17:08

    Is there still a $10k minimum? Don't see any mention of it and confirmed with live chat that there isn't a minimum loan amount required for the 150k bonus points offer.

    • ChaseTheSun on 07/10/2022 - 17:35

      Looks like the terms and conditions dont have the 10k minimum anymore. this makes it worth considering now!

      Whats the minimum loan now?

      • 76F on 07/10/2022 - 17:44
        +1

        $2000

      • kerfuffle on 07/10/2022 - 18:12
        +1

        The terms and conditions also currently say offer ends 30 September

        • ChaseTheSun on 07/10/2022 - 19:03

          Yeah got told the offer has already expired on the 30th on chat. so where did 30 Nov 2022 come from?

    • blueyez on 07/10/2022 - 19:03
      +1

      The website seems to have rolled back to the previous deal which ended at the end of September. The description was a paste from the website itself - perhaps they pulled the offer or made a mistake online. I guess if they confirm it with you and you have proof then apply at your own risk for a lower loan amount.

  • Traya1 on 12/10/2022 - 13:40

    I just called and they confirmed that there is currently NO offer available, as @blueyez noted the landing page has reverted to the end of September.

    I would highly recommend not to apply for this as the customer rep put me on hold to speak to marketing and stated there is currently no offer - so apply at your own risk!!!

    hopefully they lower the loan amount needed as this deal is not worth it for $10k with how many good credit card deals are out currently…

  • nightelves on 19/10/2022 - 11:41

    Anyone know what's the minimum amount you can leave in your account to still get points? Can I leave as little as $1?

  • Pat07 on 25/10/2022 - 13:25

    Hi fellow OZbargainers,

    I contacted Citibank today about this promotion and why I haven't received the points since I applied for the promotion in July. They told me that there was no promotion going on in July. The webpage is not active anymore, does anyone have a screenshot of the offer and have any advice on how I can prove to them that theyre wrong?

    Thank you

    • El-Rhi on 28/10/2022 - 10:30

      Chances are the person you spoke to just has no idea. This is quite common at Citi.

      Has it been over 90 days since you supplied you Virgin Velocity number?

      • Pat07 on 29/10/2022 - 15:18

        Yes I kept getting different answers. Its been over 90 days and they still haven't sent me an email to ask for my Virgin Velocity number. My loan apparently doesn't have any promotions attached to it.

        What can I do?

        • El-Rhi on 29/10/2022 - 17:12

          Make a formal complaint and if you're not happy with their response then lodge a complaint to AFCA

  • offthetap on 27/10/2022 - 09:49

    seems like this is still an active offer until Nov 30 2022?
    https://www1.citibank.com.au/personal-loans/citi-personal-lo…

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