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.
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.
Compare Citi balance transfer credit cards
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:
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:
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.
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