If you’ve resolved to take control of your money and get your credit card to work for you, take a look at the benefits of the Citibank Gold Card which currently offers the following rates:
Interest Rates, Fees & Charges
| Interest Rate on Purchases |  |
20.99% p.a. |
|---|---|---|
| Annual Fee | |
$149 |
| Interest Free Period | |
up to 55 days |
| Cash Advance Rate | |
21.74% p.a. |
| Card Type | |
Gold |
| Minimum Income Requirement | |
$30,000 p.a. |
| Credit Card Type | |
Visa |
| Rewards Program | |
Yes |
The Features and Benefits of the Citibank Gold Card:
It may be exciting to apply for a gold credit card for the prestige and additional features, however before you start an application for the Citibank Gold credit card, consider whether you can really benefit from the extra features, and whether you can use the card cost effectively:
- Balance transfer. Balance transfers allow ongoing credit card balance to be transferred to an account offering a low interest rate and repaid over a few months. If balances have accumulated on one or more of your credit cards, because you tend not to pay your credit card statements in full every month, a balance transfer arrangement could help you get back in charge of your finances. Currently Citibank Gold offers a balance transfer at a low interest rate,. If you make an effort to repay the balance in full before the nine month period expires you will make significant savings. Remember that if there is balance remaining when low-interest period expires, the interest rate on the balance will revert to the standard interest rate – so when you’re comparing difference balance transfer deals it’s important to work out how long you realistically need to repay your debt.
- Interest free period. To minimise the cost of using credit cards, careful credit cardholders take full advantage of the interest-free period. Citibank Gold Card has a 55 day interest-free period, and you will avoid paying interest on your ongoing purchases by making sure that you pay your monthly statements in full by the due date.
- Rewards points. Loyalty or rewards programs are offered by some credit card providers to encourage cardholders to use their cards as much as possible. It’s possible to earn a significant number of reward points by using your credit card to pay for most of your day-to-day purchases and expenses. Under the Citibank Gold Card rewards program one reward point is earned for each dollar spent on the card and accrued rewards points earned can be redeemed for a wide range of items and vouchers. It’s important to bear in mind that interest rates on reward credit cards tend to be significantly higher than on standard cards, so if you fail to pay the balance of your card each month the interest payments will erode any value you might achieve from reward points.
- Security. Credit card fraud makes many people wary of using credit cards for online purchases. Citibank has used technology to provide enhanced security features with the Citibank Gold Card, including photocards and digital signatures, and the Fraudshield program identifies possible misuses of credit cards.
- Fees and charges. Among the fees and charges associated with the Citibank Gold Card are an annual account fee of $149 and a supplementary fee of $30 for each additional card on an account.
- Who can apply? To be eligible to apply for a Citibank Gold Card you must be at least 18 years of age, a permanent Australian resident, have a good credit history and an annual income of at least $35,000 you are eligible to apply for a Citibank Gold Card. If you already hold a Citibank credit card you must have held your current Citibank account for at least 9 months to be eligible to apply for another credit card.
When you’re considering applying for a new credit card it’s important to do some research. It’s vital to compare the relative benefits of different credit cards to find the one that best suits your circumstances. To find out more about the features of the Citibank Gold Card view our comparison tables here, and follow the secure link from your chosen card to make an online application.
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Posted on Thursday, July 8th, 2010 at 4:23 pm
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