Citibank ‘CitiBusiness’ Credit Card – Rates & Fees

Information verified correct on December 6th, 2016

Citibank’s Business Credit offers a line of credit with flexibility and freedom that can help support your business’ cash flow.

Citibank’s Business Credit is a line of credit up to $50,000 that is available to businesses, and allows them quick access to credit when they need it. There are no fixed terms so repayments can be made at your discretion and there is a redraw option for when you need extra funding. Since different businesses have different needs, Business Credit allows you to use the line of credit to cover costs, pay bills, invest back into the business or do anything else to keep your business afloat.

If you choose Business Credit you can enjoy an unsecured line of credit with a 0% p.a. rate for 3 months, which reverts to a competitive rate of 14.59% p.a. after that. You may also appreciate that Citibank doesn’t charge cash advance fees or account-keeping fees on this line of credit.

The Citi Business Credit Card is no longer available

The Citibank Business Credit Card is no longer available for new applicants. We've kept this information available for existing cardholders or people who want to know more about this old product. You can compare other Citi credit card products or business credit cards for further options.

Citibank’s Business Credit Card Review

As the Business Credit from Citibank is made to help you maintain your business’s expenses it can be used for anything that will help your business stay on track and remain productive. It offers you an unsecured line of credit that you never have to reapply for, but that you just continue to use and pay interest-only on the amount you use.

You’ll also benefit from security features like protection against loss, theft, and fraud. This can allow you to shop with confidence either in store or online. This line of credit also gives you access to the Citibank Dining Program. Combine these benefits with the competitive rates and fees to see all of the benefits of Citibank’s Business Credit.

Benefits of being a Citibank 'CitiBusiness' Business Credit Card holder

  • Extended warranty insurance. When you purchase items through Business Credit, Citibank will offer you an extended warranty on the item if it already has a manufacturer’s warranty on it.
  • Guaranteed pricing scheme. This feature states that if you buy an item using Business Credit and it goes on sale somewhere else you might be eligible to receive a refund of the difference between your purchase price and the sale price. Conditions apply to this feature and it should be researched beforehand.
  • Purchase protection. Purchase Cover Insurance through Citibank Business Credit protects you against loss, theft or damage for items that you purchased anywhere in the world for your business through the credit line.

Features of the Citibank Business Credit

  • Rates and fees. Business Credit offers you an introductory offer of 0% p.a. for the first 3 months that the account is open. Once that period is over you can benefit from a competitive 14.59% p.a. interest rate. This is an ongoing variable rate so it will fluctuate with the market, which can save you money if interest rates go down across the board. You’ll also enjoy a competitive annual fee and no account-keeping fees or cash advance fees.
  • Security features. With advanced security features you can use your line of credit with confidence. Shop online or in-store knowing that you are protected against fraud, theft, or a lost card. You can also get extended warranties on items that you purchase through this line of credit, as well as price matching that may allow you to get the difference paid back to you when an item you purchase goes on sale for a cheaper price.
  • Additional features. Gain access to the Citibank Dining Program with use of Business Credit and take your clients or investors out to eat in style. When you dine with one of the Citibank Dining Program partners you’ll even receive a complimentary bottle of wine.
  • Flexibility. With no fixed terms you can make repayments on your bill anytime you want and you only have to pay interest on what you use. You can also use the redraw option if you ever need extra funding for your business.

How to apply for the Citibank Business Credit line

If you believe Citibank Business Credit line is right for your business and would like to start the application process simply click on ‘Go to site.’

After filling out a few forms you’ll be on your way to find out whether or not you’ve been approved. Before applying look over the minimum eligibility requirements for the credit line that are outlined below:

  • Age and residency requirements. In order to apply for this line of credit you have to be at least 18 years of age and be a permanent Australian resident with a valid Australian address.
  • Income and business requirements. You must also have a good credit rating and earn a minimum of $35,000 a year. The business in question must also have been trading for at least two years.

Once you establish whether or not you’re eligible for Citibank Business Credit you should make sure that you have all of your necessary paperwork in order. This will not only ensure that all of the fields on the online application are filled out accurately but will help the whole application process go smoothly and quickly.

  • Identification information. You’ll not only need your personal details like full name, address, and date of birth but you’ll also need your driver’s license number and tax file number in order for the bank to establish proof of your identity.
  • Business and income information. You’ll also need to provide the bank with details regarding your business, including the registered name of the company, its registered trading address, and the business’s accountant’s details. You’ll also need to have documents regarding your income, including your monthly gross salary before taxes along with other income sources like investments or rent from investment properties.

Citibank Business Credit offers businesses a unique way to finance their business while enjoying some perks and additional features. As with any line of credit or financial decision you should compare your options and choose the line of credit that is most appropriate for you and your business’s financial situation.

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