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Citi credit card balance transfer guide

Reduce your credit card debt and save on interest costs with a balance transfer to Citi.

If you’re struggling to make a dent in your debt, then it might be time to consider a balance transfer. When you move your debt to a card with 0% on balance transfers for a promotional period, you can clear your debt faster and cheaper without the burden of interest costs.

Citi is one of many Australian financial institutions that offers new cardholders a bunch of interest-free balance transfers options.

If you want to get your debt under control, you can use this guide to weigh up the benefits against the costs and use our step-by-step guide to doing a balance transfer with Citi.

Exclusive to finder.com.au - Citi Credit Card Offer

Citi Clear Platinum - Exclusive Offer

0% p.a. for 24 months
on balance transfers
with a one-time 1.5% balance transfer fee
Discounted $49 first year annual fee

Offer ends 30 September 2018

Eligibility criteria, terms and conditions, fees and charges apply

Exclusive to finder.com.au - Citi Credit Card Offer

Exclusive to finder, save with a reduced annual fee for the first year and a 0% balance transfer offer for up to 24 months.

  • $49 p.a. annual fee for the first year ($99 p.a. thereafter).
  • 14.99% p.a. on purchases
  • 0% p.a. for 24 months with 1.5% BT fee on balance transfers
  • Cash advance rate of 21.74% p.a.
  • Up to 55 days interest free
  • Minimum income requirement of $35,000 p.a.
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Promoted

Compare Citi balance transfer credit cards

Rates last updated August 15th, 2018
$
% p.a.

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Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
Citi Clear Platinum - Exclusive Offer
0% p.a. for 24 months with 1.5% balance transfer fee
14.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
finder Exclusive: Receive 0% p.a. for 24 months on balance transfers and a discounted annual fee in the first year. Plus, access to Citi World Privileges.
Citi Rewards Platinum Credit Card
0% p.a. for 26 months with 2.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus complimentary international travel insurance.
Citi Simplicity Card
0% p.a. for 15 months with 1.5% balance transfer fee
19.99% p.a.
$0 p.a.
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
Citi Platinum Credit Card - 100k Bonus Points
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, enjoy a long-term balance transfer offer, a discounted first year annual fee and complimentary travel insurance.
Citi Rewards Classic Credit Card
0% p.a. for 15 months with 1.5% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Receive 1 point per $1 spent on eligible purchases, up to $50 cashback when you meet the minimum spend and a 15 month balance transfer offer.
Citi Signature Credit Card
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$199 p.a. annual fee for the first year ($395 p.a. thereafter)
Receive 120,000 bonus points, two airport lounge visits per year, complimentary international travel insurance and a reduced first year annual fee.
Citi Signature Qantas Credit Card
0% p.a. for 6 months
20.99% p.a.
$199 p.a. annual fee for the first year ($395 p.a. thereafter)
Receive 50,000 bonus Qantas Points, 2 yearly airport lounge visits and complimentary travel insurance. Plus, a discounted first year annual fee.
Citi Clear Platinum
14.99% p.a.
$99 p.a.
Offers a low 14.99% p.a. rate and up to 55 interest-free days on purchases. Plus, insurance covers and access to the Citibank Dining Program.
Emirates Citi World Mastercard
0% p.a. for 9 months
20.99% p.a.
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Receive up to 60,000 bonus Skywards Miles, pay half the annual fee for the first year and indulge in curated local and global experiences.
Citi Prestige Card
0% p.a. for 6 months
20.99% p.a.
$700 p.a.
Reward yourself luxuriously with 150,000 bonus Points, free hotel stays, exclusive events and unlimited airport lounge access with Priority Pass.

Compare up to 4 providers

Rates last updated August 15th, 2018
$
% p.a.

Your search criteria didn't return any products. Click to reset your filter options and search again
Name Product Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Amount Saved Product Description
Westpac Low Rate Card
0% p.a. for 24 months with 1% balance transfer fee
13.49% p.a.
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
Citi Clear Platinum - Exclusive Offer
0% p.a. for 24 months with 1.5% balance transfer fee
14.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
finder Exclusive: Receive 0% p.a. for 24 months on balance transfers and a discounted annual fee in the first year. Plus, access to Citi World Privileges.
HSBC Platinum Credit Card
0% p.a. for 22 months with 2% balance transfer fee
19.99% p.a.
$129 p.a.
Offers a 0% p.a. for 22 months balance transfer and an annual fee refund each year when you spend $6,000.
St.George Vertigo Platinum - Online Offer
0% p.a. for 25 months
12.74% p.a.
$99 p.a.
Get platinum perks and save with 0% p.a. interest for up to 25 months on balance transfers with no BT fee.
NAB Low Fee Platinum Card
0% p.a. for 24 months with 2% balance transfer fee
19.74% p.a.
$90 p.a.
Offers 7 complimentary insurance covers, a 0% p.a. for 24 month balance transfer and access to a 24/7 concierge service for a $90 p.a. annual fee.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months and enjoy a discounted annual fee of $64 for the first year.
HSBC Low Rate Credit Card
0% p.a. for 20 months with 2% balance transfer fee
13.25% p.a.
$79 p.a.
Receive up to 20 months interest-free on balance transfers with a 2% BT fee. Also enjoy exclusive offers with the home&Away Privilege Program.
Citi Simplicity Card
0% p.a. for 15 months with 1.5% balance transfer fee
19.99% p.a.
$0 p.a.
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 18 months
20.74% p.a.
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Take advantage of 0% p.a. on balance transfers for up to 18 months. $64 in the first year ($129 p.a. thereafter), plus, bonus Velocity Points.
NAB Low Fee Card
0% p.a. for 18 months with 2% balance transfer fee
19.74% p.a.
$30 p.a.
Receive complimentary purchase protection insurance, a 18 month balance transfer offer and special offers from Visa Entertainment.
Virgin Money Low Rate Credit Card
0% p.a. for 14 months
11.99% p.a.
$49 p.a.
Offers a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and 0% p.a. for 14 months on balance transfers.
Citi Platinum Credit Card - 100k Bonus Points
0% p.a. for 15 months with 1% balance transfer fee
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn 100,000 reward Points, enjoy a long-term balance transfer offer, a discounted first year annual fee and complimentary travel insurance.
BankSA Amplify Card
3% p.a. for 36 months
19.49% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Receive a 3% p.a. for 36 months balance transfer and earn Qantas or Amplify Points per $1 spent. Plus, enjoy a $0 annual fee for the first year.
BankSA Vertigo Visa
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Enjoy a 0% p.a. interest rate for up to 16 months on balance transfers with no balance transfer fee. Plus, a low ongoing purchase rate.
St.George Vertigo Visa
0% p.a. for 16 months
13.74% p.a.
$55 p.a.
Get 0% p.a. interest for up to 16 months on balance transfers with no BT fee. Plus, a competitive annual fee.
Bank of Melbourne Vertigo Platinum
0% p.a. for 24 months with 1% balance transfer fee
12.74% p.a.
$99 p.a.
Offers a long-term balance transfer, low ongoing purchase rate, complimentary travel insurance and access to a 24/7 personal concierge service.
St.George Amplify Card
3% p.a. for 36 months
19.49% p.a.
$0 p.a. annual fee for the first year ($79 p.a. thereafter)
Take advantage of 3% p.a. interest on balance transfers for 36 months. Plus, a $0 first year annual fee and Amplify or Qantas Points per $1 spent.
NAB Low Rate Platinum Card
0% p.a. for 6 months with 2% balance transfer fee
0% p.a. for 9 months (reverts to 13.99% p.a.)
$100 p.a.
Enjoy a 0% p.a. interest rate offer on purchases for 9 months and the protection of 7 complimentary insurances including overseas travel insurance.
American Express Velocity Escape Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$0 p.a.
Earn uncapped Velocity Points on purchases, pay $0 annual fee for life and take advantage of a 0% p.a. for 12 months balance transfer offer.
American Express Explorer Credit Card
0% p.a. for 12 months with 1% balance transfer fee
20.74% p.a.
$395 p.a.
Receive 50,000 bonus Membership Rewards points, a yearly $400 Travel Credit and 2 entries per year to the American Express Lounge.

Compare up to 4 providers

How to compare balance transfer credit cards from Citi

Citi usually offers more than one balance transfer credit card at a time, so here are some of the factors you can consider to narrow down your options:

  • Length of 0% offer. Some interest-free offers may last for 6 months, while others can last up to 26 months. The length of the balance transfer promotional periods will vary, so you can compare your current offers in the table above or on the Citi website. You should choose a balance transfer card that gives you enough time to pay your entire balance in full before the revert interest rate applies.
  • Balance transfer fees. You may be charged a balance transfer fee when you first move your balance. This is usually a percentage-based fee of around 1% up to 2.5%.
  • Annual fees. While some cards come with $0 annual fee, other Citi credit cards charge annual fees that can reach tens or hundreds of dollars. Make sure that this annual fee doesn’t eat into the savings you’re getting from the interest-free offer.
  • Revert rates. If you can’t pay off the debt before the end of the promotional period, the remaining amount will start collecting the standard cash advance rate. This is usually higher than 20%, so it’s wise to pay off your debt before this applies.
  • Transfer limits. You can transfer a minimum of $500 and up to 80% of your approved credit limit to a Citi credit card. If you had a card with a $20,000 credit limit, this means you could transfer up to $18,000. Make sure that your new card can support your entire debt, otherwise the remaining amount will stay in your old account to collect interest.
  • Eligible debts. You can transfer debts from Australian non-Citi loans, credit cards and store cards to a Citi credit card. Most Australian card issuers don’t accept balance transfers from loans, so this is a point of difference for Citi cards.
  • Eligible banks. You can’t transfer debts from other Citi credit cards to a new Citi card. This doesn’t include debts from cards issued by a financial instituted that is affiliated with Citi. You can compare banks you can and can't transfer between on finder.
  • How to apply for a Citi balance transfer

    Once you’ve researched your options, you can apply for a balance transfer online. As long as you’ve met the eligibility requirements and prepared the necessary information, the application shouldn’t take longer than 10-15 minutes to complete.

    The eligibility requirements will vary from card to card, but some of the criteria you can expect may include:

    • Age requirement. You must be at least 18 years old to apply for any credit card in Australia.
    • Credit rating. You need a good credit rating to receive approval.
    • Residency. You must be an Australian permanent resident.
    • Minimum income. You may need to make a minimum taxable annual income to apply for the card.

    Some of the details you'll be asked to provide include:

    • Proof of identity such as your driver’s licence number or passport
    • Your net (after-tax) weekly income
    • Details of your income, assets, savings and investments
    • Liability details including any other credit cards, store cards or personal loans
    • If you’re self-employed, you’ll need to provide your most recent tax details

    The application process in 5 steps

    1. Choose a credit card
    Once you’ve compared your options and are applying through finder, you can select the Citi card you wish to apply for by clicking on the "Go to Site" button in the comparison table or on the relevant card review.

    2. About you
    You must provide contact details including your full name, mobile number and email address. In the next step, you’ll need to list personal information including your current residential address, your proof of identification (whether your driver’s licence or passport), employment status and annual gross salary.

    3. Work and finances
    In the next section, you'll be asked to provide the following information:

  • Marital status and any details of any dependents.
  • Employer information including the industry you work in and your employer’s contact information.
  • Financial information including your share of monthly living expenses, combined credit limits and details of any other loans you may have. You’ll also need to nominate a credit limit increase. Remember that you can only transfer up to 80% of your approved credit limit when nominating your preferred amount.
  • 4. Balance transfer and additional options
    Here you can nominate that you’d like to sign up for a balance transfer. You’ll be asked to provide the name of your current card issuer, the amount you’d like to transfer and the account name. You can also nominate any additional cardholders you’d like to add to the account here.

    5. Upload documents
    This is where you’ll be asked to upload copies of any supporting documents, so make sure to have these prepared to ensure a smooth application process.

    When you’ve finished filling out the application, make time to look over it again to double check that you’ve provided all of the correct information and uploaded all of the necessary documents. Once you submit your application, you can’t retract it and it will leave a mark on your credit file.

    If you’ve provided all of the necessary information, you should receive a response regarding the status of your application within 60 seconds. You can then usually expect the balance transfer to complete and the debt to appear in your new account within up to 10 business days. Once the balance appears in your account, it’s up to you to contact your old card issuer and close the account if you wish.

    Applying for a balance transfer credit card with Citi is designed to be a straightforward process. Just make sure you meet the eligibility requirements and have necessary information before you apply. Although Citi offers a number of balance transfer options, make sure to compare other offers on the market to make sure you’re applying for the right card for you.

    Images: Shutterstock

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    Sally McMullen

    Sally McMullen is an editor at finder.com.au who is a credit cards, frequent flyer and travel money expert by day and music maven by night.

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    3 Responses

    1. Default Gravatar
      PaulaMay 19, 2015

      Is the Simplicity Citibank card not available as previously advertised at 0% interest – for how long?

      • finder Customer Care
        JonathanMay 19, 2015Staff

        Hi Paula, thanks for your inquiry!

        The Citi Simplicity currently has a promotional rate for balance transfers of 0% for 12 months. Please see the following link for the Citi Simplicity card review page.

        Cheers,

        Jonathan

    2. Default Gravatar
      ChrisJune 11, 2011

      Hi,Is this credit card transfer offer valid also for people living in New Zealand?
      Best regards
      Chris

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