Citi Ready Credit

Citi Ready Credit

Citi Ready Credit


7.9 % p.a.

variable rate

  • Access a line of credit
  • 7.9% p.a. for up to 2 years (reverts to 19.99% p.a)
Security Logo

100% confidential application

More info Go to site
What happens when I click Go to site?
  • Clicking Go to site will take you to your Online Application on the product issuer's website. You do not need to be an existing customer of this provider to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • You'll be given a decision on your application from the lender and you could have the money in your account within 24 hours.
Click here to start your application >>

Take advantage of an introductory rate of 7.9% p.a. for 2 years and enjoy ongoing access to funds with Citi Ready Credit.

Citi Ready Credit is a flexible line of credit product that comes with a Mastercard so that you can get access to additional funds when you need them. This product offers an introductory interest rate of 7.9% p.a. on balance transfers for 2 years.

It also allows you to withdraw funds up to your approved credit limit at the variable rate of 19.99% p.a. While the Ready Credit account has a $0 annual fee, it does charge a with a one-off $199 establishment fee.

Product NameCiti Ready Credit
Interest Rate (p.a.)From 7.9% (variable)
Interest Rate TypeVariable
Min Loan Amount$5,000
Max. Loan Amount$75,000


  • Low interest rate
  • $0 monthly fee
  • No penalties for early payouts


  • Revert rate applies after 2 years
  • $199 establishment fee
Go to site

Main points to consider about the Citi Ready Credit Flexible line of credit

Citi Ready Credit is a line of credit account that also comes with a Mastercard that can be used to make purchases in-store and online, or to withdraw cash. This feature is unique for a line of credit product, making the Citi Ready Credit account similar to a credit card account. In effect, it means you only have to apply for the line of credit once, but can draw and redraw from your available credit as you need it.

This account offers an introductory rate of 7.9% p.a. that you can use for balance transfers or cheques-to-self. It also provides a variable rate of 19.99% p.a. that applies to purchases or cash advances made with the Mastercard, as well as any debt remaining after the introductory period.

Features of the Citi Ready Credit Flexible line of credit

  • 19.99% p.a. for 2 years. This promotional interest rate applies to balances transferred at the time of your application, and to cheques-to-self requested within 90 days of account opening. At the end of the promotional period, any outstanding balance will revert to the variable rate of 19.99% p.a.
  • $0 annual fee. This account charges no ongoing annual fees. But a $199 applies upon account activation.
  • No early payout fees. This account won't charge a fee if you want to pay off your loan in less than 2 years.
  • Flexible repayments. You have the ability to choose your own repayments each month, providing it meets a minimum payment amount.
  • Mastercard. Use your Citi Ready Credit funds to pay for purchases in-store and online, or withdraw cash up to your available limit at any time with a Mastercard debit card.
  • Additional card. You can also share your Ready Credit account with a partner or family member by requesting 1 additional card. Note that you will still be responsible for all transactions on the account.

Costs and limits of the Citi Ready Credit Flexible line of credit

  • Establishment fee. The Citi Ready Credit has a with a one-off $199 establishment fee. This is payable at the first statement period and there are no other annual fees or ongoing account-servicing fees.
  • Balance transfer limit. The Citi Ready Credit account allows you to transfer up to 80% of your approved credit limit. For example, if you are approved for a limit of $20,000, you could balance transfer $16,000 to the account.
  • Credit limits. Apply for the Ready Credit and get a credit limit between $5,000 and $75,000.
  • Late payment fee. You will be charged $30 every time you do not make your minimum payment on time, or do not pay any overdue amount by the payment due date. These amounts will be detailed on your statement.
  • Overlimit fee. A $40 fee applies if you exceed your credit limit.
Go to site

How to apply for the Citi Ready Credit Flexible line of credit

Applying for the Citi Ready Credit is simple and takes around 15 minutes online. Before you get started, make sure you meet the following eligibility criteria:

  • You must be at least 18 years old
  • You must earn at least $40,000
  • Be a permanent Australian resident or citizen

You will also need the following information and documents on hand:

  • Your full name, phone number and email address
  • Your residential details
  • Your employer’s address and contact details, or your accountant’s details if self-employed
  • Details of your income, assets and liabilities

The Citi Ready Credit account combines features of a line of credit with the ongoing flexibility of a credit card. As such, you may want to compare it to a range of balance transfer credit cards or personal loans so that you can find a product that suits your circumstances and needs.

Back to top
Was this content helpful to you? No  Yes

Personal Loan Offers

Important Information*
Logo for Citi Personal Loan Plus
Citi Personal Loan Plus

You'll receive a variable rate between 8.99% p.a. and 17.99% p.a. (9.67% p.a. to 18.6% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years. Note: The establishment fee will be waived if you apply before 30 September 2019.

Logo for ING Personal Loan
ING Personal Loan

You'll receive a fixed rate of 8.99% p.a.
Benefit from no ongoing fees, no early repayment fees and flexible loan terms on amounts up to $30,000.

Logo for NOW FINANCE Personal Loans
NOW FINANCE Personal Loans

You'll receive a fixed rate between 8.95% p.a. and 16.95% p.a. based on your risk profile
Apply for loans from $5,000 and get a dedicated loan manager. No security required.

Logo for Westpac Unsecured Personal Loan
Westpac Unsecured Personal Loan

You'll receive a fixed rate of 12.99% p.a.
Benefit from the security of a fixed rate with the flexibility of additional repayments. Existing Westpac customers may qualify for discounts.

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

55 Responses

  1. Default Gravatar
    bymoOctober 23, 2016

    Hi – I am an existing Ready Credit Citibank customer and now I’m reviewing my statements as it looks like I won’t be able to pay off my loan of at the end of its term by just paying the minimum.

    Can you clarify:
    1) If I have to pay more than the minimum to pay off my loan at the end of its term, otherwise, I will be charged at the higher rate for any balance?

    2) Also, I have only been issued a cheque for 80% of my loan, however, on my first statement, it shows another balance transfer equivalent to 20% of my loan which I did not get the money for

    It looks to me that I am paying for that 20% which I did not receive. In my understanding, that 20% should form part of my credit limit, not of my loan. Can you please also clarify?

    • Avatarfinder Customer Care
      MayOctober 28, 2016Staff

      Hi BYMO,

      Thank you for your questions. Just to confirm that you’ve reached – a comparison website and general information service, not actually Citibank.

      1) If I have to pay more than the minimum to pay off my loan at the end of its term, otherwise, I will be charged at the higher rate for any balance?
      With Ready Credit, the minimum monthly repayment is the greater of $30 or the sum of 1% of outstanding balance plus interest plus late fees. If you have a Fixed Payment Option on your account, your monthly instalment is required each month as per terms at set up.

      So for your interest rates, that would depend on which offer you have selected:
      7.9% p.a. over 2 years – flexibility to choose repayments
      9.99% p.a. over 4 years – fixed repayments

      In case you will not be able to pay your outstanding balance, then you will then most likely be charged interest rate on your remaining balance plus fees that apply.

      2) Also, I have only been issued a cheque for 80% of my loan, however, on my first statement, it shows another balance transfer equivalent to 20% of my loan which I did not get the money for
      Citibank will send you a cheque-to-self if you have requested a nominated amount to be taken from your available credit line, usually at a promotional interest rate. So if you have just requested 80% of your credit limit, then the other 20% should be your remaining available credit limit i.e. if you have not used this other 20% for purchases or cash advances.

      It would be best to contact Citibank directly to clarify this as they have a record of your account.


  2. Default Gravatar
    NarelleJanuary 12, 2016

    Hi – regarding the cheque to self option. This means once I am approved, I will be advised of my available credit limit, then I can accept the offer? I wouldn’t want to proceed if I wasn’t offered the full amount I needed.

    Then, I could ask for a single cheque to self for say, $20,000, which I would then use to pay off other credit cards, plus the leftover I could use however else I needed to.

    That would be $20,000 at that 5.4 % interest rate. If I wanted to borrow more than that later on in the life of the loan, I would need to pay the full interest rate, is that correct? Only one cheque to self is available?


    • Avatarfinder Customer Care
      JonathanJanuary 14, 2016Staff

      Hi Narelle, thanks for your inquiry!

      That is correct. Your available credit limit will be provided upon application approval. Once approved you can write a cheque to self with the amount being charged at the promotional balance transfer rate of 5.9% p.a. for 24 months. You are able to use up to 80% of the available credit limit for balance transfers and cheques to self.



  3. Default Gravatar
    ColinOctober 1, 2015

    Can I use 80% on my existing credit limit of do I need to reapply all the time

    • Avatarfinder Customer Care
      JonathanOctober 6, 2015Staff

      Hi Colin, thanks for your inquiry!

      The balance transfer must be requested at the time of application. Citi will allow you to transfer up to 80% of your approved credit limit for balance transfers.



  4. Default Gravatar
    KristanApril 15, 2015

    I am wanting to apply for a Citibank personal loan. I currently have a telecommunications default on my credit file, which is under arrangement, being paid, has been for the last year and is down to a third of the original listed amount. With evidence of this would I still be eligible to apply?

    • Avatarfinder Customer Care
      JonathanApril 16, 2015Staff

      Hi Kak, thanks for your inquiry!

      A default on an individual’s credit file can impair the chances of being approved for a loan/ line of credit. In saying so bank’s lending policies and criteria do vary. As a result it is most ideal to contact a bank directly either via customer service centre or local branch to best discuss your personal situation and options. Please refer to the contact details I have provided to your email.



  5. Default Gravatar
    MoFebruary 24, 2015

    It’s going to be nearly six months since we got our ready credit loan from Citibank. When we applied we were expecting a higher credit amount but we only approved for half of the amount that we expected.

    I did read/hear that Citibank reviews the credit limit for ready credit loans every six months.

    Do we have to apply for increase in credit limit filling in a application form, or we will be given a automatic credit limit increase as an offer to take.

    My concern is do we have to go through the process of filling in forms, wait for the processing, and credit checks, etc.

    If you can explain how this works based on past history of Citibank’s credit limit increase process that will be great.

    Thank you.

    • Avatarfinder Customer Care
      JonathanFebruary 24, 2015Staff

      Hi Mo, thanks for your inquiry!

      Credit limit increases need to be requested through a web form, please see the attached PDF I have sent to your email along with information on the process that Citibank undertakes for evaluating credit limit increase requests. It is important to note that you need to have had your credit card for at least 9 months before you can request an increase.



  6. Default Gravatar
    ChanelleFebruary 23, 2015

    Hello Jonathan, my partner needs $38,000 ($28k to pay off another loan and $10k to upgrade his vehicle). If he was approved for $48,000, 80% at 4.90% is $38,400 which is exactly what we need.

    1. Is the loan then for $48000 for what you applied for or $38000 for what you used?
    2. Do you pay repayments on $48000 over 3 years or $38000? over 3 years?
    3. To take advantage of 4.90%, can he organise Citibank to transfer funds to me and I distribute accordingly?

    Thanks so much! I have heard some not so nice things about Citibank’s processes so I want to make sure that our plans caters for the 4.90% rate and not the dreaded 20% rate.

    • Avatarfinder Customer Care
      JonathanFebruary 24, 2015Staff

      Hi Chanelle, thanks for your inquiry!

      It is important to note Citibank’s balance transfer limit is subject to their credit criteria and may be limited to a certain proportion of the credit limit.
      The loan is on how much you have borrowed from the bank, which would be the balance transfer amount and any other amounts spent on the card. The balance transfer rate would be applicable to the balance transfer amount. Any other debts on the card would be charged at the appropriate rates. It is important to note that balance transfers between Citibank credit cards are not allowed.

      I hope this helps!



  7. Default Gravatar
    RoseFebruary 11, 2015

    My husband would like to apply for your offer 4.9% p.a for 3 years. Here are my questions:
    1)He’s my additional card holder to our current Citibank rewards mastercard. Is he eligible to apply then?

    2) Can he use this to balance transfer my credit card under my name?
    3) can he use this to pay off a school tuition fee?

    • Avatarfinder Customer Care
      JonathanFebruary 11, 2015Staff

      Hi Rose, thanks for your inquiry!

      As long as they meet the eligibility requirements they can apply, to be eligible to apply for a Citibank personal loan, you must be at least 18 years of age, have a good credit rating, earn a taxable income of $35,000 or more and be a permanent Australian resident. You will be able to transfer any non Citibank products with an outstanding balance(s) such as credit cards, store cards or loans within Australia.
      Generally any fees or payments can be paid but will be charged at the cash advance rate or purchase rate, this will depend on the merchant/ institution who you are transacting with.



    • Default Gravatar
      RoseFebruary 12, 2015

      Another enquiries:
      1) the 4.9 % only applies to balance transfers?
      2) if on top of two credit card balance transfers, I will ask for a cheque for self and use this cheque to pay miscellaneous payments. Would the cheque for self be charged at 4.9%?

    • Avatarfinder Customer Care
      JonathanFebruary 12, 2015Staff

      Hi Rose, thanks for your inquiry!

      The 4.9% promotional interest rate is only for balance transfers. If a cheque to self is approved then it will be at the balance transfer rate of 4.9%.



    • Default Gravatar
      RoseFebruary 12, 2015

      When do you apply for cheque for self?There’s nothing mentioned on the application form. Only details of balance transfers.Thanks

    • Avatarfinder Customer Care
      JonathanFebruary 12, 2015Staff

      Hi Rose, thanks for your inquiry!

      If you are an existing customer, please contact Citibank directly on 13 24 84 at any time to discuss your options with an agent who has access to your account. If you are a new customer applying for a credit card that has a balance transfer offer attached to it, you may request for a cheque to be sent to you if you do not have a balance to transfer. This must be requested when you call to activate the account.



  8. Default Gravatar
    AshwoodDecember 7, 2014


    Its the 7th December today. Has the offer been extended? I would like to apply if I can.

    • Avatarfinder Customer Care
      ElizabethDecember 9, 2014Staff

      Hi Ashwood,

      Thanks for your question.

      Unfortunately this offer is unavailable as it was only on offer until the 30th November.



  9. Default Gravatar
    SheryNovember 21, 2014

    I would like to apply for Citibank ready credit flexible personal loan.But is it possible to pay off my husbands personal loan if I take the card in my account?

    • Avatarfinder Customer Care
      ElizabethNovember 21, 2014Staff

      Hi Shery,

      Thanks for your question.

      Yes this is possible. You’ll just need the details of his account when you apply.

      I hope this has helped.



  10. Default Gravatar
    lorettaNovember 18, 2014

    I am trying to fill out application as we are self employed, the system keeps freezing up and i cannot complete the application, is there another way I can apply?

    • Avatarfinder Customer Care
      ElizabethNovember 18, 2014Staff

      Hi Loretta,

      Thanks for your question.

      This particular offer is only available through, so you’ll need to apply directly online. You might want to try completing the application on a different computer or device, and you can also try using a different browser. If this doesn’t help, you’ll need to get in touch with Citibank who will be able to provide further assistance for you.

      I hope this has helped.



Ask a question
Go to site