This was posted 1 year 3 months 19 days ago, and might be an out-dated deal.

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Bonus $200 eGift Card with Citi Quick Cash $2500+ (0% p.a. for 1 Year, Upfront Fees: 0.99% 6 Months, 1.99% 12 Months) @ Citibank

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Bonus $200 eGift Card with Citi Quick Cash $2500+ (0% p.a. for 1 Year, Upfront Fees: 0.99% 6 Months, 1.99% 12 Months) @ Citibank
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Jetkuma on 04/08/2023 - 12:21 www1.citibank.com.au (227 clicks)
Last edited 04/08/2023 - 12:31 by 1 other user

I received a text message from Citibank:

Jetkuma, convert your credit into Quick Cash and earn a $200 eGift Card. Access up to 90% of your available credit at 0% p.a. and a one-off fee from 0.99% on your Citi credit card card ending XXXX. Repay in monthly instalments from 6 months. Visit citibank.com.au/quickNT…………… T&Cs apply. $2.5k min loan applies for eGift Card. Offer ends 31 Aug 2023.

I opened up the T&C and it said:
Limited to one e-Gift Card per account, per offer period.

*To be eligible to receive a $200 e-Gift Card you must set up a new Citi Quick Cash instalment plan of $2,500 or more by 31-Aug-2023. Offer limited to one gift card per Account, per offer period. e-Gift Card will be available for redemption within 16 weeks from the date the first Citi Quick Cash instalment plan of $2,500 or more is set up providing your Citi Quick Cash instalment plan has not been cancelled or repaid in full and your Account is in good standing. We will send you a unique code and instructions on how to redeem your e-Gift Card via email. You must redeem your e-Gift Card within 10 weeks from the date of this email. e-Gift Card is not reloadable or redeemable for cash.

You can also access this on Citibank app when you click into your credit card screen.

Financial Citi Gift Card Loan

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closed Comments

  • healinginnocent on 04/08/2023 - 12:22
    +1

    these are targeted deal

  • easternculture on 04/08/2023 - 12:29

    Yeh i got it 4 times in a row and was $800 richer minus the one 0.99% fee @ $2500.

    Havent recieved it again for 8 months

    • Everest99 on 04/08/2023 - 12:33

      How long it takes to receive the gift card. I am waiting one.

      • YesPleaseThankYou on 04/08/2023 - 12:34

        It is in the terms. Read them and you shall reach the pinnacle of Everestian knowledge.

        • Everest99 on 04/08/2023 - 12:35

          16 weeks is the standard, it can be quicker.

          • schmucky on 11/08/2023 - 15:47

            @Everest99: Me and my partner are waiting on a batch and currently at 15.6 weeks… I usually get them at 12 weeks so this time is a stretch…

      • easternculture on 04/08/2023 - 13:12

        I got them at 9 weeks

      • BellaWii on 07/08/2023 - 09:23

        Received the email for e-gift card at 11 weeks.

    • ultramic on 04/08/2023 - 13:19

      How did you manage to do that ? The T&C's say one gift card per account ?

      Are you applying for the installment plan, getting the GC and then payoff the plan in full and then repeat process ?

      • Love a bargain on 04/08/2023 - 13:22

        presumably one per account per campaign cycle

        • YesPleaseThankYou on 04/08/2023 - 13:45

          Yes, they added the following to the terms some time ago after I managed to get many thousands in benefit:

          Offer limited to one gift card per Account, per offer period.

          That's all I'm saying :)

  • itslittfam on 04/08/2023 - 12:44

    How will this work if I have payall set up for 20k? (Credit limit is also 20k) Will I need to transfer ~$3k into the account and then take out the citi quick cash?

    • Jetkuma on 04/08/2023 - 12:59

      I spent a good 15 mins researching around and this is what it said in FAQ. I also have 20k PayAll so I was thinking on what to do to get $200.

      Is the Citi instalment plan part of my existing credit limit?
      Yes, the Citi instalment plan uses part of your existing credit limit. Every time you make a repayment, the amount paid becomes available again — as part of your credit limit, which is subject to the interest rate you pay on your credit card balance at the time.

      How does the instalment plan repayment appear on my statement?
      The Instalment Plan will appear as a 'Fixed Payment Option' on your statement which will include a summary of your progress. Any initial interest charge or instalment due will be included in the Minimum Payment Due.

      It looks like if you set this up. It will take $2,500 from your credit limit. That would impact your next Payall $20,000 as you need $20,000 credit available to Payall.

      • itslittfam on 04/08/2023 - 15:44

        Understood. So in order to take this offer I'm guessing if you have a 20k credit limit and 20k payall setup, you will need to deposit something like $2.8k (2.5k plus 10% as you can only convert 90% into citi ready cash) into your account (through BPAY), so that your current credit limit goes to $22.8k. Then you take $2500 out as citi ready cash and left with $20k credit limit for payall to occur successfully.

  • Spark5072 on 04/08/2023 - 13:01

    I am currently disputing it with citi. I triple checked in April, and they confirmed that I am eligible for it. Now, after 16 weeks they just confirmed the promo ended in April 22 and I wasn't given right info. Guys, please check with them before you do this.

  • cheekymonkey97 on 04/08/2023 - 13:05

    I only got offered $100 this month. I'm worried if I take it it'll set a precedent and they'll only offer me $100 going forward.

  • simon 84 on 04/08/2023 - 13:12

    Sad.
    Mine is $100 eGift Card + 1.49%

    Receive a $100 e-Gift Card to spend at Myer, JB Hi-Fi or Coles when you convert $2,500 or more.
    At 0% p.a.
    And just an upfront fee of:
    • 1.49% for a 6-month plan or
    • 2.49% for a 12-month plan
    Offer ends: 14 Aug 23

  • b0b0 on 04/08/2023 - 13:48

    Sorry if this is a dumb question. Is there any minimum instalment period, eg. Can I pay off the $2500 balance within a month so my future payall can revert to $20000 per month?

    • YesPleaseThankYou on 04/08/2023 - 13:49

      Read the terms about the order in which payments are applied.

      • b0b0 on 04/08/2023 - 14:35

        Thanks

  • powerhead on 04/08/2023 - 13:56

    out of interest, do interest free days still apply when one takes up this offer?

    doesn't look I'm targeted for this one though

    • YesPleaseThankYou on 04/08/2023 - 13:57
      +1

      Yes.

      Check to see whether you have allowed Citi to market to you. Allow email and SMS marketing.

      • powerhead on 04/08/2023 - 16:52

        ticked for all the options.

        could be because I usually have under $1k available on the card, as 99% of my credit limit is either payalled out or other pending transactions

        • YesPleaseThankYou on 05/08/2023 - 11:32
          +1

          Yes, this is almost certainly the reason.

  • eleon00 on 04/08/2023 - 14:02

    i get this everytime i pay off everything at billing. this means they cant profit off of you so they are asking you to extend it a little bit in the hopes that the debt snowballs to a point where they can charge you interest. if you are good at managing your debt, this is a good way to snag a couple hundred dollars. but if you are like most people who get debt-trapped, you would be better off paying everything at the end of the cycle.

    i do get this from time to time, but as soon as the paylite/flexicash is setup, i pay it off in full as well.

    • YesPleaseThankYou on 04/08/2023 - 14:06

      but if you are like most people who get debt-trapped

      Do 'most people' get debt-trapped?

      but as soon as the paylite/flexicash is setup, i pay it off in full as well

      Sorry, but that is not very smart as you have paid the establishment fee up-front, giving you access to the low rate for an agreed period.

      You are paying the fee but then depriving yourself of one of the main benefits of the offer, access to cash at a low rate (the other benefit being a potential gift card).

      • eleon00 on 04/08/2023 - 14:15

        wdym? after i get the gift card, i pay it off. why on earth would you go through the hoops of doing it if youre not getting the gift card? lol

        • YesPleaseThankYou on 04/08/2023 - 14:16

          You setup the instalment plan, pay the establishment fee, then pay it off immediately. Why would you do that?

          • eleon00 on 04/08/2023 - 14:19

            @YesPleaseThankYou: setup the instalment plant, pay the establishment fee, wait for the gift card, and then pay it off immediately. im just after the gift card.

        • cheekymonkey97 on 04/08/2023 - 14:20
          +1

          Because you get the gift card before the 6 month interest free term is up. So you're wasting about 2 months worth of opportunity to have that $2.5k parked in your offset or HISA

  • burningrage on 04/08/2023 - 14:04

    To repeat, this is instalment offer and NOT a balance transfer offer. You would have to pay equal instalment every month unlike balance transfer where you only have to pay minimum cost up to interest free period expiry.

    It diminishes the benefit greatly for those who want quick cash for mortgage offset but will nevertheless still benefit overall (particularly with the gift card).

    • YesPleaseThankYou on 04/08/2023 - 14:08

      It diminishes the benefit greatly for those who want quick cash for mortgage offset

      It diminishes the offer, agree, but I wouldn't say 'greatly'.

      With rising mortgage interest rates, I argue there is still substantial benefit.

      • burningrage on 04/08/2023 - 14:26
        +2

        I have done a rough calc for $12,000 at 4% differential between 6% current interest rate vs 2% this offer provides at 12 mths.

        Rough number with relative 90% accuracy

        If you take out $12,000 with no repayment at all until month 12, about $480 saved.
        If you take out $12,000 with minimum repayment (2% of $12,000 = $240), about $421 rough saved.
        If you take out $12,000 with equal instalment of $1k per month for 12 months, about $256 rough saved.

        You then have to pay additional 2% fee = $240 from this number for upfront fee but you gain $200 gift card.

        It doesn't sound worth it unless you are dealing with lots of $$$.

        • YesPleaseThankYou on 04/08/2023 - 14:28

          Thanks for the calcs. I shall look more carefully at the next offer received.

          Without a gift card, it seems uneconomical.

        • cheekymonkey97 on 04/08/2023 - 14:30
          +1

          No one, and I mean absolutely no one is taking out $12k. People are taking out $2.5k, offsetting the establishment fee through offset or HISA and then pocketing the $200 gift card.

          • YesPleaseThankYou on 04/08/2023 - 14:32
            +1

            @cheekymonkey97: Yeah, except when they used to offer these at 0% with no fee, then I'd take the maximum. They were the days.

            Now, I take the minimum, predominantly for the gift card.

  • vindator on 04/08/2023 - 14:23

    I have got citibank premier for like 3 months now been waiting for this quick cash offer but never received it…. anyone who is with citi premier received this offer?
    Does having $60k available credit stops me from having this offer?

  • Dyl on 05/08/2023 - 12:01

    Never got my gift card from the last deal

    • YesPleaseThankYou on 05/08/2023 - 12:03

      I have taken up scores of these offers and have never not received the gift card or FlyBuys points.

      Contact Citi via email in internet banking or make a complaint if you have already tried via email.

      • Dyl on 05/08/2023 - 12:05

        Have made multiple complaints, they just dodge it saying it's coming. Paid it off already all in full now it's been that long.

        • YesPleaseThankYou on 05/08/2023 - 14:06

          Then lodge a complaint with AFCA. It takes 5 minutes.

  • bluebluebird on 19/08/2023 - 07:42

    New to this - i activated this on 04 Aug, when does tge 1st instalment start, and how do i pay it - does it get added to the CC bal?

    Thanks.

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