Money Hack: Tackle Christmas debt with this exclusive 0% BT offer

Posted: 5 January 2019 8:30 am

money hacks

Benefit from 0% p.a. on balance transfers and purchases for 13 months with the Citi Platinum Credit Card, an offer exclusive to Finder.

If you're one of the 5.2 million Australians* who relied on plastic to get yourself through the silly season, you may find yourself stuck with more than just leftovers after Christmas day. One option you can consider to repay credit card debt from Christmas is a balance transfer credit card. These cards let you repay your debt from one or multiple cards at a lower interest rate. You can currently benefit from a Finder exclusive offer with the Citi Platinum Credit Card – find out how it works and if it's right for you.

The hack

If you apply for the Citi Platinum Credit Card through Finder before 31 January 2019 you can take advantage of a range of features. This includes a 0% p.a. interest rate on balance transfers for 13 months, with no balance transfer fee. Citi allows you to transfer up to 80% of your credit limit from credit cards, store cards or personal loans that are not issued by Citi, and to make use of this offer you must request the balance transfer at the time of your application.

You can also benefit from 0% p.a. interest for 13 months on purchases made with the card. Plus there is a first-year annual fee discount: you will pay $49 for the first year and $149 thereafter.

As a platinum card, it also comes with a number of other features such as complimentary insurances, reward points and the option of a linked Diners Club card.

There are a few things to keep in mind with this offer. Firstly, the 13-month 0% p.a. balance transfer period begins when the balance transfer is processed, which happens after you have activated the card and the debt is moved from your old account. At the end of the 0% p.a. balance transfer period, the cash advance rate (currently 21.74% p.a.) will apply to any balance transfer debt you have not repaid.

For the 0% p.a. purchase rate offer, the 13-month period begins from the date your account is approved. Also at the end of this period, the purchase rate will revert to 20.99% p.a. You can find out more about the fees and rates on the Citi Platinum Credit Card Finder review page.

Before you apply, you also need to make sure you meet the following eligibility criteria:

  • Be 18 years or older.
  • Have a good credit rating.
  • Earn $35,000 p.a. or more.
  • Be an Australian citizen or permanent resident.
  • Apply through Finder before 31 January 2019.

You will need to submit personal information such as your name and contact details, information about your employment and your financial details to apply.

Citi Platinum Card Review and Apply

*Finder Christmas Spending Statistics 2018

Picture: Shutterstock

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