Citi Clear Credit Card – Balance Transfer Offer

Offers 0% interest on balance transfers for 28 months and a reduced annual fee of $49 in the first year, which goes to $99 per year after that.

The Citi Clear credit card is a low rate card that also offers a handful of other perks, including complimentary insurance for eligible purchases and free wine through the Citibank Dining Program. With this introductory offer, you can save on existing card debt with a 0% interest rate on balance transfers for 28 months when you apply by 28 April 2022.

You’ll also get a discounted annual fee of $49 in the first year before a $99 annual fee applies. This is competitive with other low rate cards that offer complimentary insurance and other perks – but you should still make sure you’ll use these benefits if you want to justify the card’s ongoing costs.

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Amy Bradney-George

Last Updated Jul 23, 2021

0% p.a.

Balance transfer rate

for 28 months

14.99% p.a.

Purchase rate

$49 p.a.

Annual fee

for the first year ($99 p.a. thereafter)

55 days

Interest free period

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Details

Product Name	Citi Clear Card - Balance Transfer Offer
Balance transfer rate	0% p.a. for 28 months
Balance transfer revert rate	Cash Advance Rate (22.24% p.a.)
Balance transfer limit	80% of available limit
Purchase rate	14.99% p.a.
Annual fee	$49 annual fee for the first year ($99 p.a. thereafter)
Interest-free period	Up to 55 days on purchases
Cash advance rate	22.24% p.a.
Min credit limit	$6,000
Max credit limit	$100,000
Card type	Mastercard
Foreign currency conversion fee	3.4%

Minimum income	$35,000
Available to temporary residents	No
Joint application	No

Pros

0% p.a. on balance transfers for 28 months with no BT fee
$49 first-year annual fee ($99 p.a. thereafter)
Includes extended warranty and purchase cover insurances

Cons

Balance transfer reverts to the high 22.24% p.a. cash advance rate
No rewards program and travel insurance

Bonus points	N/A

Annual fee	$49 annual fee for the first year ($99 p.a. thereafter)
Minimum monthly repayment	2% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3.4%
Cash advance fee	3.5% or $3.50, whichever is greater
Overseas cash advance fee	$5
Additional cardholder fee	$0
Number of additional cardholders	4

Go to Citi's site More info

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Citi Clear credit card gives you a long 0% balance transfer period with this introductory offer and has no balance transfer fee. To give you an idea of the potential savings, if you balance transferred a $2,000 debt, you could save $307.13 over the 28-month introductory period. The reduced first-year annual fee also saves you $50 compared to the $99 annual fee that applies from the second year onwards.

But if you’re still paying off your balance transfer after that, a high interest rate of 22.24% p.a. applies – which is 2.3% higher than the average standard interest rate for a credit card in Australia.

How to apply

You can apply for the Citi Clear Credit Card online in 15 minutes. Before you get started, check if you meet the eligibility criteria and have the necessary information on hand:

Eligibility criteria

Income. Earn a minimum taxable annual income of $35,000.
Eligible balance transfer debt. You can transfer balances from credit cards, store cards and personal loans not issued by Citi, up to 80% of your credit limit.

Residency. This card is only available to permanent Australian residents and citizens.
Age. Applicants must be at least 18 years of age.

Required documents

Personal details. Including your full name and proof of identification (such as your Australian driver's licence or passport).
Contact details. Such as your address, phone number and email address.
Employment. Including time spent at your current job and your employer's contact details and address.
Income and finances. You'll need to include your total gross salary as well details regarding expenditure and recurring expenses (such as any liabilities, debts, rent and school fees).
Existing debt. You'll need to provide details regarding any other credit card accounts you have, including the account number and issuing organisation's name and address.

Card benefits

Balance transfer offer. You can consolidate existing debts with a 0% interest rate for the first 28 months with no balance transfer fee when you apply through Finder, request the balance transfer and get approved for this card by 28 April 2022. Any unpaid balance after the promotional period ends will be charged at the variable cash advance rate, currently 22.24% p.a.
Discounted first-year annual fee. Save with a $49 annual fee for the first year when you apply and get approved for this card by 28 April 2022. This will revert to $99 after the first year.

Complimentary insurance. When you use this card for shopping, you can get access to complimentary purchase cover insurance, extended warranty insurance and a guaranteed pricing scheme. When you meet the eligibility criteria, you, your spouse and any dependants will also be covered with Transit Accident Insurance if you're injured during transport on an eligible trip.
Citibank Dining Program. Get a free bottle of wine when you dine with Citibank Dining Program partners and pay using your Citi Clear credit card.
Cashback offers. Between 1 April 2021 and 30 September 2021, you can get $10 cashback on Deliveroo orders worth $25 or more. Plus $5 cashback on Spotify Premium subscriptions of $10 or more. You'll need to pay directly using your Citi card t
o be eligible. Note that if you have a balance transfer, you'll pay interest on your purchases from the date they are made.
Mastercard benefits. With Mastercard Priceless Cities, you'll get access to exclusive entertainment, dining, travel and other lifestyle experiences in more than 40 cities around the world.
Mobile payment technology. The Citi Clear Card allows you to use your qualifying Samsung and Apple devices to make contactless payments via Samsung Pay and Apple Pay.

Rates & fees

Annual fee. Outside of any promotions, this card charges a standard annual fee of $99.
Purchase interest rate. This card has a 14.99% p.a. interest rate for purchases, which is lower than the average standard rate according to the Reserve Bank of Australia.

Interest-free days. When you pay your balance in full, you can take advantage of up to 55 interest-free days on your purchases. Note that interest-free days don't apply if you're carrying a balance transfer debt.
Cash advances. If you make a cash advance transaction using your card, you will be charged interest at the cash advance rate of 22.24% p.a. from the day the transaction is made. You will also be charged a one-time fee of . If you make a cash advance overseas, the fee is $5.
Additional cards. Customers can get up to 4 additional cards at no extra cost.

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Citi Clear Credit Card – Balance Transfer Offer