Citibank Clear Platinum Low Rate Credit Card

Citibank Clear Platinum Credit Card

With generous introductory offers on balance transfers and annual fees, the Citibank Clear Platinum credit card is an excellent choice for anyone looking for a cheap and simple credit card. Customers can also benefit from a low purchase rate of 11.99% p.a., 24-hour personal concierge service, complimentary insurances, discounted shopping, dining and travel through Citibank World Privileges, and entertainment experiences through Visa Platinum Privileges. Overall, this is a great option for anyone looking for the perks of a Platinum card without the high price tag.

What can you get from the Citibank Clear Platinum Credit Card?

Balance Transfer Offer:

With the Citibank Clear Platinum card you can currently benefit from paying only 0% p.a. on balance transfers for the first 6 months. If you have debt from existing credit cards and store cards that you would like to pay off, this card will give you plenty of time at a low interest rate to help you get rid of your debt faster.

Low Purchase Rate:

It's not always easy to find a low rate Platinum credit card, as most will attract fairly high interest rates. The Citibank Clear Platinum card has a low interest rate of 11.99% p.a. on purchases, which makes it a superb choice for those who want to use it as an everyday credit card while enjoying Platinum benefits.

Platinum Perks:

You can take advantage of a number of benefits with the Citibank Clear Platinum card. First off, you will get up to 25% off hotels, restaurants, shops and services with Citibank World Privileges. With Citibank's Dining Program, you will receive a free bottle of wine every time you dine at participating restaurants. You will also receive exclusive offers and discounts on movies, shows and sporting events with Visa Entertainment.

Personal Concierge Service:

As a card-holder, you will also have the services of a 24-hour personal concierge, which can help you book tickets, reserve a table at a restaurant, book flights and accommodation, and much more.

Complimentary Insurances:

By choosing this card, you will receive International Travel Insurance, Extended Warranty, and Purchase Cover Insurance for lost and stolen items that you purchased on the card. You will also have the added benefit provided by the Guaranteed Pricing Scheme, where, if you purchase an item in-store with the card and it later goes on sale, you may be able to receive the difference back.

Credit Limit:

Depending on your personal situation, you could be approved for a credit limit between $8000 and $60,000. If you are looking for a credit card with a little extra credit, this could be a great option.

55 Day Interest Free Period:

Most credit cards nowadays will offer an interest free period. The Citibank Clear Platinum card offers up to 55 days interest free, which means you will have up to 55 days with no interest when you make a purchase. The interest free period starts from the first day of the credit card statement period, so to make the most it, you should try to plan any large purchases around this time.

Additional Credit Cards:

You can have up to three additional card holders on the Citibank Clear Platinum card. You will pay the standard annual fee on the card ($49 for the first year, and $99 per year thereafter), and each additional card holder will cost $19.

Why would you need a Citibank Clear Platinum credit card?

• If you want a Platinum card that is simple and easy-to-use, and easy to understand;
• If you want Platinum perks, such as a 24-hour personal concierge, discounts on shopping, dining and entertainment, and complimentary insurances, without the high price tag;
• If you have existing credit card or store card debt that you want to consolidate and pay off quickly;
• If you are looking for a great balance transfer deal offered over a long period of time;
• If you want a credit card that has a low purchase rate;
• If you want a credit card that has a low annual fee.

What are some of the negatives of the Citibank Clear Platinum credit card?

Most credit cards will have some disadvantages, but it really depends on how you want to use the card, as to what you will regard as a benefit and what you will see as a disadvantage. You will usually find trade-offs with most credit cards on the market.

So, if you want a no annual fee credit card, you may have fewer benefits and pay higher interest rates; if you want a rewards credit card, you may pay higher annual fees and higher interest rates; if you want a low rate credit card, it may have a lack of rewards and benefits.

It's all about finding out what you want from your credit card, and choosing one that suits you best.

Fewer Rewards:

Most people choose a Platinum card for the extended benefits. The Citibank Clear Platinum card does not have quite as many benefits as some other Platinum cards. However, you may find that other Platinum cards charge much higher annual fees to pay for these added features. You may find that the benefits of the Citibank Clear Platinum card are all you need, in which case, you can enjoy the perks, but pay less each year.

No Airline Rewards:

Many people choose credit cards where they can earn reward points with airlines. For those people who like to travel, airline rewards are a great way to save money on flights. Unfortunately, the Citibank Clear Platinum card doesn't offer airline rewards at this time.

Minimum Annual Earning Requirement:

To apply, you will need to earn at least $35,000 per year. You will usually find that Platinum cards, because they usually have higher credit limits, will expect you to earn more per year than other credit cards.

Higher Rates at the end of the Promotional Period:

While the interest rates on balance transfers and purchases are very attractive during the promotional period, these will revert to the higher cash rate when the promo period ends.

Unused Benefits:

Don't pay for something you don't need. If you don't use the rewards and benefits attached to the Citibank Clear Platinum card, you are basically paying for something you are not using. It might be better to choose another low rate balance transfer credit card that has a lower annual fee.

What requirements are needed to be approved for a Citibank Clear Platinum credit card?

• Minimum income requirement of $35,000 p.a.;
• You must be at least 18 years old;
• You must be an Australian Resident;
• You must have good credit history;
• See the Citibank Clear Platinum card website for full terms and conditions.

Common Questions

What is a Balance Transfer Credit Card?

A balance transfer credit card like the Citibank Clear Platinum card, offers low interest rates on balances transferred from existing store and credit cards for a certain length of time. With the Citibank Clear Platinum card, you will pay only 2.9% p.a. on balances transferred for the first 12 months, which gives you the opportunity to pay off your debt much faster.

I already have a Citibank credit card, can I transfer the balance onto the Citibank Clear Platinum card?

You will need to have held your current Citibank credit card for at least nine months before being allowed to make a balance transfer to the Citibank Clear Platinum card. You will still need to meet the application criteria to be eligible.

Can I transfer balances from credit cards outside Australia?

Most balance transfer credit cards will not accept balance transfers from financial institutions outside Australia. Check for more details with Citibank when you make the application.

What happens if I don't pay off the transferred debt on a Balance Transfer Credit Card?

With the Citibank Clear Platinum card, any transferred balances left unpaid at the end of the promotional period will be charged at the cash advance interest rate.

How do I do a balance transfer on the Citibank Clear Platinum card?

When you complete the credit card application form, you will be asked to give details of any balances you would like transferred. Balances will be transferred when the new account is opened. The amount transferred will depend on the amount you are approved for.

Do I need to close my existing credit cards after the balance transfer to my new Citibank Clear Platinum card?

Citibank will not close your existing credit card accounts. You can choose to keep them open, but if you want them closed, you will need to arrange this yourself.

Terms and Conditions
Fees and charges apply. Terms and conditions apply and are available upon request. Credit criteria apply.

1. Your total balance transfers may not exceed 95% of your credit limit. The 0% p.a. interest rate on the Citibank Clear Platinum card applies for the first six months on balances you transfer with this offer at point of application, and on all purchases and cash advances for a period of three months from the date your account is approved. Transferred balances will be repaid first. Any outstanding transferred balance or cash advance balance at the end of the promotional period will revert to the standard cash advance rate, currently 21.74% p.a. Any retail purchase transactions made during the promotional period will revert at the end of the promotional period to the standard purchase rate, currently 11.99% p.a. Offer ends 30 June 2012. To be eligible for the offer, you need to apply for the card by
30 June 2012. Current Citibank Clear Platinum Credit Cardholders are not eligible to apply for this introductory offer. Approved customers only. Interest rates are variable, subject to change and Citibank's credit criteria.
2. Subject to your acceptance, you will be billed a half-price annual fee (currently $49) in the first year. This will revert back to the full annual fee of $99 in subsequent years. There is no annual fee for Additional Citibank Clear Platinum Cards. Please allow up to 15 days to process your application subject to verification and our credit criteria. Current Citibank Cardholders are not eligible to apply for this introductory offer.
3. Citibank's Dining Program is operated by Pinpoint Pty Ltd ABN 49 002 693 656 and Zenith Wine Agencies Pty Ltd ABN 66 128 399 717 and is open to Citibank cardholders. The cardholder is entitled to receive a gift of a selected bottle of wine when using their Citibank credit or debit card to pay for their restaurant bill. Citibank Rewards Credit Cardholders, except cardholders who are enrolled in airline frequent flyer direct earn rewards programs, will also earn three bonus points for each dollar spent at participating restaurants. This offer is available only at participating Bonus Partner restaurants for dine-in customers who order a minimum of a main course and is limited to one free bottle of wine per booking. Split bills are not permitted. The free bottle of wine must be requested at the time of ordering. The free bottle of wine cannot be taken away or consumed off premises and is not available to customers selecting a degustation menu option with matching wines. The free bottle of wine specified may be out of stock or replaced. Should this occur, the restaurant will provide a similar quality bottle of wine at their discretion. Reward points are earned, allocated, redeemed, forfeited or cancelled by eligible cardholders in accordance with the Citibank Rewards Program Terms and Conditions.
4. Payment must be made using a Citibank Credit Card. Up to 25% discount on Dining and Shopping available at participating outlets. Privileges cannot be used in conjunction with any other promotional programs or offers. Citibank and the business establishment reserve the right to change the terms and conditions at any time. Refer to www.citiworldprivileges.com/au/ for up-to-date offer details.
5. International Travel Insurance is provided automatically to cardholders under a master agreement between Zurich Australian Insurance Limited ABN 13 000 296 640, AFSL No. 232507 and Citigroup Pty Limited, and is subject to Terms and Conditions and exclusions available at www.citibank.com.au/complimentaryinsurance.

The Citibank Clear Platinum Card was awarded CANSTAR CANNEX 5 Star Outstanding Value in the everyday spender and the big spender categories in Credit Card Star Ratings Report June 2011.

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