Citi

Rewards (Balance Transfer Offer)

Purchase Rate

Purchase Rate

21.49%

Balance Transfer Rate

Balance Transfer Rate

0%

for 30 months then 22.24%

Annual Fee

Annual Fee

$49

for 12 months then $149

Max Free Days

Max Free Days

55

Late Payment Fee

$30

Purchase Rate

Purchase Rate

21.49%

Balance Transfer Rate

Balance Transfer Rate

0%

for 30 months then 22.24%

Annual Fee

Annual Fee

$49

for 12 months then $149

Max Free Days

Max Free Days

55

Late Payment Fee

$30

Pros and Cons

Pros and Cons

  • Rewards Available through Citi Rewards Program
  • Reduced $49 annual fee p.a in the first 12 months and $149 p.a thereafter.
  • Free international travel insurance
  • Purchase protection insurance
  • Price guarantee
  • Extended warranty
  • Concierge
  • Special events
  • Partner discounts
  • Does not offer free supplementary cards
  • Late payment fee

Citi Features and Fees

Citi Features and Fees

Details

Card Level

Platinum

Card Type

MasterCard

Interest Free Days

Interest Free Days

55

Minimum monthly repayment

2% or $30

Minimum credit limit

$6k

Maximum credit limit

$100k

Free supplementary cards

Number free supplementary

0

Instant Approval

Fees

Annual Fee

Annual Fee

$49

for 12 months then $149

Annual Fee Spend Waiver

Supplementary card annual fee

$90

Late Payment Fee

$30

Over limit fee

Duplicate statement fee

$0

Electronic Wallet Service

Important Rates

Rates

Purchase Rate

Purchase Rate

21.49%

Cash advance rate

22.24%

Cash advance fee

3.5% or $3.5

Balance Transfer

Balance Transfer Rate

Balance Transfer Rate

0%

for 30 months then 22.24%

Transfer Limit

80%

Please note, no interest free days apply to retail purchases while you have a balance transfer

Balance Transfer Fee

$0

Overseas spending

Foreign Exchange Fee

3.4% on Mastercard

Overseas charges

Overseas charges

$5

Estimated ATM Cost

-

Rewards

Program name

Citi Rewards Program

Rewards Available

Gift Card, Cash Back

Eligibility

Minimum age

18

Minimum income

$35k

Eligibility conditions

Residency

Australia Citizen, Permanent Resident

Earn Rates

RateCard TypeEarnsCondition
1 point for $1 spentMastercarduncappedeligible international transactions
1 point for $1 spentMastercardUp to $10k monthlyeligible domestic transactions

Perks

  • FREE INTERNATIONAL TRAVEL INSURANCE Available when you use your Card to pay for return international travel
  • PURCHASE PROTECTION INSURANCE Covers up to $10,000 per item and $200,000 per year
  • PRICE GUARANTEE If you purchase personal goods in Australia and then find the same product advertised later at a cheaper price within 60 days of purchase, from a store within 25km of the store where the item was purchased, you can claim back the difference if it is less than $500.
  • EXTENDED WARRANTY
  • CONCIERGE
  • SPECIAL EVENTS Each event will be subject to separate terms and conditions
  • PARTNER DISCOUNTS

Other Benefits

Citi Payall: Earn uncapped Citi reward Points on everyday expenses such as rent, taxes, education fees, property management fees, childcare and miscellaneous bills

Other Restrictions

Late Payment Fee of $30 each time we do not receive the Minimum Payment Due and any Overdue Amount by the payment due date, debited to your Account after the payment due date. The Minimum Payment Due, any Overdue Amount, and payment due date are detailed on your statement of account. Please note, no interest free days apply to retail purchases while you have a balance transfer.

Pros and Cons

  • Rewards Available through Citi Rewards Program
  • Reduced $49 annual fee p.a in the first 12 months and $149 p.a thereafter.
  • Free international travel insurance
  • Purchase protection insurance
  • Price guarantee
  • Extended warranty
  • Concierge
  • Special events
  • Partner discounts
  • Does not offer free supplementary cards
  • Late payment fee

Citi Features and Fees

Details

Card Level

Platinum

Card Type

MasterCard

Interest Free Days

Interest Free Days

55

Minimum monthly repayment

2% or $30

Minimum credit limit

$6k

Maximum credit limit

$100k

Free supplementary cards

Number free supplementary

0

Instant Approval

Fees

Annual Fee

Annual Fee

$49

for 12 months then $149

Annual Fee Spend Waiver

Supplementary card annual fee

$90

Late Payment Fee

$30

Over limit fee

Duplicate statement fee

$0

Electronic Wallet Service

Important Rates

Rates

Purchase Rate

Purchase Rate

21.49%

Cash advance rate

22.24%

Cash advance fee

3.5% or $3.5

Balance Transfer

Balance Transfer Rate

Balance Transfer Rate

0%

for 30 months then 22.24%

Transfer Limit

80%

Please note, no interest free days apply to retail purchases while you have a balance transfer

Balance Transfer Fee

$0

Overseas spending

Foreign Exchange Fee

3.4% on Mastercard

Overseas charges

Overseas charges

$5

Estimated ATM Cost

-

Rewards

Program name

Citi Rewards Program

Rewards Available

Gift Card, Cash Back

Eligibility

Minimum age

18

Minimum income

$35k

Eligibility conditions

Residency

Australia Citizen, Permanent Resident

Earn Rates

RateCard TypeEarnsCondition
1 point for $1 spentMastercarduncappedeligible international transactions
1 point for $1 spentMastercardUp to $10k monthlyeligible domestic transactions

Perks

  • FREE INTERNATIONAL TRAVEL INSURANCE Available when you use your Card to pay for return international travel
  • PURCHASE PROTECTION INSURANCE Covers up to $10,000 per item and $200,000 per year
  • PRICE GUARANTEE If you purchase personal goods in Australia and then find the same product advertised later at a cheaper price within 60 days of purchase, from a store within 25km of the store where the item was purchased, you can claim back the difference if it is less than $500.
  • EXTENDED WARRANTY
  • CONCIERGE
  • SPECIAL EVENTS Each event will be subject to separate terms and conditions
  • PARTNER DISCOUNTS

Other Benefits

Citi Payall: Earn uncapped Citi reward Points on everyday expenses such as rent, taxes, education fees, property management fees, childcare and miscellaneous bills

Other Restrictions

Late Payment Fee of $30 each time we do not receive the Minimum Payment Due and any Overdue Amount by the payment due date, debited to your Account after the payment due date. The Minimum Payment Due, any Overdue Amount, and payment due date are detailed on your statement of account. Please note, no interest free days apply to retail purchases while you have a balance transfer.

FAQs

What does ANZ credit card insurance cover?

ANZ offers complimentary insurance on some of its credit cards, which can provide some protection against unforeseeable incidents, like the theft of your card. Depending on the type of credit card you own, you may be eligible for different insurances. For instance, most ANZ credit card customers may qualify for Purchase Protection Insurance and Extended Warranty Insurance. Customers who own premium credit cards may also be eligible for Guaranteed Pricing, Rental Vehicle Excess, International Travel, and so on.

Consider checking your ANZ credit card insurance features listed in the Insurance Policy Information booklet to know which items are covered. Also, while ANZ issued the credit card, they are not the insurer. For this reason, you may need to send your insurance claims - and get your ANZ credit card insurance refund - to the insurance provider.

How can I increase my Bankwest credit card limit?

When you apply for a Bankwest credit card, you get assigned a pre-set credit limit, which will end up being the most that you can spend on your credit card before having to pay it off. Your credit limit is chosen for you and your current financial situation, and you should remember not to overspend, irrespective of the limit, in order to avoid racking up a massive bill.

However, banks and lenders understand that your needs will change, and have made it possible for you to increase your credit card limit, allowing you to get extra cash when you need it most. Moreover, with a higher spending limit, you may be able to get access to certain perks and benefits with your Bankwest credit card.

To increase your Bankwest credit card limit, you can visit any of the bank’s branches or call 13 17 19 and follow the steps outlined.

How to increase the NAB credit card limit?

If you use your NAB credit card regularly, you could consider requesting a higher credit limit. The good news is that it's fairly easy to do so using either the NAB app or NAB internet banking. 

NAB app: 

Step 1: Download the latest version of the NAB app.

Step 2: Select the ‘My Cards’ menu. 

Step 3: Select the card you want to increase the credit limit for. 

Step 4: Select ‘Usage Controls’ and then click on ‘Change Credit Limit’.

NAB internet banking: 

Step 1: Log into your account. 

Step 2: Choose the ‘My Cards’ menu. 

Step 3: Choose the card for which you want to increase the limit. 

Step 4: Choose ‘Change My Credit Card Limit’.  

If you don’t have the NAB app or cannot access NAB internet banking, you can even visit your local branch or call their contact center. 

Once you’ve applied to increase your NAB credit card limit, you’re likely to be asked for your

  • current employment details  
  • total income, before and after-tax deductions  
  • assets, liabilities, and expenses information

NAB will then assess this information to determine if your current financial situation suits the increased credit limit request, and your application will either be accepted or denied.

However, this process will only work if you’re attempting to increase your personal NAB credit card limit. For a business credit card, you can contact the NAB Corporate & Business Servicing team or speak to your NAB relationship manager. 

How do I apply for a credit card online?

Current Annual Fees

These are the current annual fees on your existing credit card.

Monthly repayment

This is how much you can afford to pay on a monthly basis off your credit card. You can enter any amount you wish; but to make the balance transfer worthwhile the default is $200.

Increase your credit card limit with Westpac

A credit card can be a useful tool to access extra cash when you need it. Sometimes you may wish to increase your credit card limit for greater financial flexibility. For example, to realize your immediate goals faster, such as planning for an international holiday or making a big purchase.

You can apply to increase your credit limit at any time, and most credit card providers have made it really easy to do so. You can use your online banking portal, the credit card provider’s mobile app, or even the telephone. 

Applying online to increase your credit limit with Westpac is the easiest option if you’ve already activated Westpac Live Online Banking. All you need to do is fill in the required information and then hit ‘submit’ to apply for an increase in your credit card limit.

Most banks will ask for details of your financial situation at the time of applying for a credit increase. This is done to ensure your new limit meets the lender’s criteria. 

You can apply for increasing your credit limit in any of the following ways:

  1. Visiting your nearest Westpac branch
  2. Calling Westpac on 1300 651 089
  3. Logging in on Westpac Live Online Banking

Current Interest Rate

This is the current interest rate on your existing credit card.

Should I get a credit card?

Once you've compared credit card interest rates and deals and found the right card for you, the actual process of getting a credit card is quite straightforward. You can apply for a credit card online, over the phone or in person at a bank branch. 

Can I get a credit card on part-time/casual work?

Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.

What is a balance transfer credit card?

A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card. 

What's the best credit card for rewards?

There is no one-size-fits-all best rewards credit card. It's best you research what type of rewards program you'd like, as well as the fees, interest rate and conditions associated with those types of cards before making a choice. 

Rewards credit cards can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward. 

How easy is it to get a credit card?

For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.

Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.

Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.

Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.

How do you pay off credit cards?

The best way to pay off a credit card bill is to set a realistic spending budget and stick to it. Each month, you’ll get a credit card statement detailing how much you owe and how long it will take to pay off the balance by making minimum repayments. If you only make the minimum repayments, it will take you years to pay off your outstanding balance and add extra costs in interest charges. To avoid any extra charges, you should pay the entire bill. 

Are there credit cards for students?

Yes, there are credit cards available with students in mind. These can help young Australians to build their credit report and learn crucial life skills around budgeting and managing personal finances.

Can a pensioner get a credit card?

It is possible to get a credit card as a pensioner. There are some factors to keep in mind, including:

  • Annual income. Look for credit cards with minimum annual income requirements you can meet. 
  • Annual fees. If high fees are a concern for you, opt for a card with a low or $0 annual fee. 
  • Interest rate. Make sure you won’t have any nasty surprises on your credit card bill. Compare cards with a low interest rates to minimise risk.

How do you cancel a credit card?

It’s important to cancel your old cards to avoid any additional fees. Unless you’re doing a balance transfer, you’ll need to pay the outstanding balance before you cancel your credit card. If you’ve opted for a card with reward points, make sure you redeem or transfer the points before you close your account. To avoid any bounced payments and save yourself an admin headache, redirect all your direct debits to a new card or account. Once you’ve done all the preparation, call your bank or credit card provider to get the cancellation underway. Once you receive a confirmation letter, destroy your card and make sure the numbers aren’t legible.

Why should I check my credit rating?

There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.

Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.

How to get a credit card for the first time

A credit card can be a useful financial tool, provided you understand the risks and can meet repayment obligations.

If you’re a credit card first-timer, review your options. Think about what kind of credit card would suit your lifestyle, and compare providers by fees, perks and repayments.

Once you’ve selected a card, it’s time to apply. Credit card applications can generally be completed in store, online or over the phone.

When you apply for a credit card for the first time, you must meet age, residency and income requirements. As proof, you must also provide documentation such as bank account statements.

How do credit cards work?

Think of credit cards as a short-term loan where you use the bank’s money to buy something up front and then pay for it later. Unlike a debit card which uses your own money to pay, a credit card essentially borrows the bank’s money to fund the purchase. When you apply for a credit card, the bank assesses your income and assigns you a credit limit based on what you can afford to pay back. At the end of each billing cycle, which is usually monthly, the bank will send you a statement showing the minimum amount you have to pay back, including any interest payable on the balance.