How to Apply for your Citi Clear Credit Card
The Citi Clear Credit Card is an excellent choice for those looking to consolidate debt or manage everyday expenses with minimal costs. Offering one of the longest balance transfer periods in the market—0% p.a. for 28 months—this card is designed to give you the breathing room needed to pay down existing debts without the stress of accumulating interest.
With a low ongoing purchase rate of 14.99% p.a., the Citi Clear Card serves as an ideal financial tool for individuals seeking both debt relief and effective budgeting for their daily expenses.
Citi Clear Card Benefits
Balance Transfer Offer
one of the standout features of the Citi Clear Card is its 0% p.a. balance transfer offer for an extended period of 28 months, making it one of the longest balance transfer periods available.
This allows cardholders to focus on reducing their debts without worrying about accumulating interest during this significant timeframe.
However, it’s essential to note that a 3% balance transfer fee applies when transferring existing debt to this card. After the promotional period ends, any remaining balance from the transfer will revert to the cash advance rate of 22.24% p.a.
Low Purchase Rate
The Citi Clear Card features a competitive ongoing purchase rate of 14.99% p.a. This low interest rate makes the card particularly suitable for everyday spending, allowing you to manage your expenses without the worry of high interest rates typically associated with many credit cards.
Additionally, Citi offers instalment plans on eligible purchases, which enable you to break down larger purchases into smaller, more manageable monthly payments at a fixed rate over a set term.
This flexibility can be particularly advantageous for those making significant purchases who prefer to spread the cost over time.
Complimentary Insurance
Cardholders benefit from complimentary insurance for eligible purchases made with the Citi Clear Card. This includes Extended Warranty Insurance and Purchase Protection Insurance, which offer added security and peace of mind when buying products.
Extended Warranty Insurance extends the manufacturer’s warranty for an additional period, providing extra protection for high-value items.
Purchase Protection Insurance safeguards against loss, theft, or accidental damage to eligible purchases, ensuring that you are covered in unfortunate circumstances.
My Cashback Program
The My Cashback program enhances the value of the Citi Clear Card by allowing cardholders to enjoy hassle-free cashback offers from participating retailers.
Each month, you’ll have the opportunity to earn cashback simply by spending with brands you already love and shop with regularly. While terms and conditions apply, this feature offers an easy way to save money while enjoying your everyday purchases, effectively adding more value to your spending.
Luxury Escapes Offer
For those who enjoy traveling, the Citi Clear Card provides access to exclusive travel deals through Luxury Escapes. Cardholders can enjoy a 10% discount (up to $250) on select hotel bookings made through Luxury Escapes.
Citi PayAll Feature
The Citi PayAll feature enables you to use your Citi Clear Card for payments that are typically not eligible for credit card payments, such as rent, taxes, and education fees.
This feature comes with a 0.95% fee but offers a convenient option for managing larger expenses with the flexibility of your credit card.
This can be particularly useful for individuals looking to streamline their payments and earn rewards or cashback on all types of spending.
Important Considerations
While the Citi Clear Card presents many advantages, there are important considerations to keep in mind:
1. Interest-Free Days on Hold
The card offers up to 44 days interest-free on retail purchases, which is a valuable benefit. However, this feature is paused if you have an active balance transfer.
This means that any new purchases made during the balance transfer period will accrue interest at the ongoing purchase rate of 14.99% p.a.
Therefore, if you plan to use the card for significant purchases while simultaneously paying down transferred debt, it’s crucial to understand how this may impact your overall financial strategy.
2. Balance Transfer Revert Rate
As previously mentioned, after the 28-month promotional period, any remaining balance from the transfer will revert to the 22.24% p.a. cash advance rate.
It is vital to have a repayment strategy in place to ensure that the balance is cleared before this higher revert rate kicks in.
Failing to do so could result in substantial interest charges that undermine the benefits of the initial balance transfer offer.
What You Should Have to Apply
To apply for the Citi Clear Credit Card, you must meet the following eligibility criteria:
- Age: applicants must be at least 18 years old to apply
- Residency: only Australian citizens and permanent residents can apply
- Credit Rating: applicants should have a good credit rating, to improve their chances of approval
Before submitting your application, it’s wise to ensure that you meet all the eligibility criteria. Citi may request supporting documents, such as payslips or bank statements, to verify your financial standing.
Citi Clear Card Fees and Tariffs
Understanding the fees and tariffs associated with the Citi Clear Card is crucial for effective financial planning. Here’s a breakdown of the key fees:
- Annual Fee: $99 p.a.
- Balance Transfer Rate: 0% p.a. for 28 months, with a 3% balance transfer fee. Reverts to 22.24% p.a. after the promotional period.
- Purchase Rate: 14.99% p.a.
- Cash Advance Rate: 22.24% p.a.
- Interest-Free Period: Up to 44 days on purchases (if no balance transfer is active).
- Foreign Transaction Fee: 3.4% on overseas purchases.
Customer Service
Here are the official contact channels and resources for Citi Clear Card inquiries in Australia:
- Customer Service Number: For general credit card inquiries or issues, you can contact Citi Australia at 13 24 84. For overseas calls, use +61 2 8225 0615.
- Official Website: You can access all the information regarding the Citi Simplicity Credit Card, including managing your account, activating your card, and exploring other services, via the official website: Citi Australia Credit Cards.
- Mobile App: Manage your account on the go with the Citi Mobile App.
- Lost or Stolen Cards: To report a lost or stolen card, call 13 24 84 (Australia) or +61 2 8225 0615 (overseas).
For further assistance, you can also use the Citi Contact Us page to explore additional services or make an online inquiry.
Conclusion
The Citi Clear Credit Card is designed to provide a balanced approach to debt management and everyday spending.
Its generous balance transfer offer, low ongoing purchase rate, complimentary insurance options, and value-added features like the My Cashback program and Citi PayAll feature make it an attractive choice for consumers looking to optimize their financial strategies.
However, it is essential to be aware of the terms and conditions, especially regarding interest rates and fees, to make the most informed decision.
In summary, whether you are consolidating debt or managing regular expenses, the Citi Clear Card provides competitive rates and valuable perks, ensuring that your financial needs are met with flexibility and ease.
As with any credit product, careful consideration and planning are key to maximizing its benefits while minimizing costs.
