Bonus $100 eGift Card with Citi Quick Cash Instalment Plan: Min Loan $2,500 + 2.99%/4.99% Fee for 6 Months/12 Months @ Citibank

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a1234my on 04/02/2025 - 09:13 www1.citibank.com.au (82 clicks)
Last edited 04/02/2025 - 12:43 by 2 other users

Check email and got this.

Planing to utilize this once the 6 months 0% balance transfer ends.

Parts of the email below.

Receive a $100 eGift Card to redeem at over 50 retailers, including Coles, Kmart, Dan Murphy's and Amazon.
Simply convert $2,500 or more into a Cash Instalment Plan before offer ends 28-Feb-2025.

Important information
*To be eligible to receive a $100 eGift Card you must set up a new Cash Instalment Plan (also called Quick Cash) of $2,500 or more by 28-Feb-2025. Offer limited to one gift card per account, per offer period. You must pay the minimum payment due amount by the payment due date each month for at least the first three consecutive months after the Cash Instalment Plan of $2,500 or more is set up. eGift Card will be available for redemption within 10 weeks from the date you pay your third consecutive minimum payment due amount by the payment due date, provided your Cash Instalment Plan has not been cancelled or repaid in full and your account is in good standing (for example - your account is not in default, suspended or closed). We will send you a unique code and instructions on how to redeem your eGift Card via email. You must activate your eGift Card within 10 weeks of that email. eGift Card is not reloadable or redeemable for cash.

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• 

  Lucille Bluth on 04/02/2025 - 09:23

  +5

  Discounting the reduced interest amount in the below calculations.

  If you choose 6 months (2.99%):

  Cost: $74.75

  Benefit: $100 eGift Card

  Net gain: $25.25

  If you choose 12 months (4.99%):

  Cost: $124.75

  Benefit: $100 eGift Card

  Net loss: $24.75

  • 

    linkii on 04/02/2025 - 09:38

    +4

    If you put the funds into an offset or high interest savings account, you should be able to make most of the interest back.

  • 

    SmiTTy on 04/02/2025 - 10:06

    That's if you leave it in there for the full 6 months . It sounds like you just need to pay min repayments for first 3 months. After that I'm guessing you could pay extra and leave a balance of $1

    • 

      epicttiimm on 04/02/2025 - 11:37

      I think the Quick Cash works by them charging you the interest upfront - so it's built into the repayments. In this case, paying off early wouldn't make sense - might as well keep it in your HISA and deduct the minimum every month.

• 

  easternculture on 04/02/2025 - 09:33

  Waiting for $250

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  a1234my on 04/02/2025 - 09:46

  Citi only allow 80% to do balance transfer, this is good for me to use the remain of the credit. And my balance transfer about to end of 0% interest.

• 

  powenta on 04/02/2025 - 10:01

  Not available for every account I guess, the app offering me 12.99% interest

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  SmiTTy on 04/02/2025 - 10:08

  Previous deals have been $200 GC…. Wonder if this is the new norm

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  caustic birch on 04/02/2025 - 10:21

  I remember when they were handing out something ridiculous like 150,000 velocity points for getting one of these loans

  • 

    grasstown on 04/02/2025 - 10:34

    +1

    It wasn’t one of these. These are for cash from your existing credit card and limit. The ridiculous ones, and I only remember 70,000 velocity points, were for a new loan facility separate to your credit card. I assumed that NAB wouldn’t do these offers any more.

    • 

      caustic birch on 04/02/2025 - 11:59

      Yeah you're right.

      Here's what I'm talking about https://www.ozbargain.com.au/node/713039

      Hard to imagine anything this juicy coming around these days

• 

  TomGum on 04/02/2025 - 12:14

  What happens when you have a $2k card limit but get offered to take out $2.5k which is not possible lol