Citi Clear is a VIP on the field. It offers one of the most generous 36 months of interest-free time without charging a fee on balance transfers. The application deadline is May 31, 2023. You will receive free insurance, Citi’s My Cashback reward program, and a cheaper purchasing rate than usual.
If you want to manage your debt, require a low-cost card with a few money-saving perks, or need a low-interest line of credit, this card is an excellent option. Applying T&Cs. Returns to cash advance rate for balance transfers. You cannot use interest-free days if you have a balance transfer.
Credit Card Details
Purchase rate: 14.99% P.A.
Intro purchase rate: none
Balance transfer rate: no current offer
Balance transfer revert to cash: yes
Cash advance rate: 22.24% p.A.
Interest-free days on purchases: 55
Annual card fee: $99.00
Introductory annual fee: $49 in the first year
Annual fee spend threshold: none
Reward program fee: none
Late payment fee: $30.00
Cash advance fee: 2%, min $2.50
Foreign exchange margin: 3.40%
Duplicate statement fee: $0.00
Transaction verification fee: $0.00
Additional card fee: $0.00
Pros:
- Special deal: balance transfers are eligible for 0% p.a. for 36 months with no balance transfer fee. Apply before May 31, 2023, and be accepted.
- Low price: Low regular purchase rate of 14.99% p.a. in addition to a discounted yearly cost of $49 for the first year and $99 after that.
- Additional benefits include 10% off (up to $250) and monthly reward bonuses from your favorite merchants with My reward. Limited-time hotel deals from Lux Exclusive (up to $250; offer ends March 1, 2023).
- Insurances include Purchase Cover, Extended Warranty, Transit Accident, and Guaranteed Pricing Plans.
- Features include up to 4 additional cardholders with no additional fees and up to 55 days of interest-free credit on retail transactions. Apple Pay, Samsung Pay, and Google Pay compatible.
Cons:
- Reverts to the high 22.24% p.a. Cash Advance rate for balance transfers. For retail transactions made while you have a balance transfer, there are no interest-free days.
- Does not provide a rewards system with points.
- To justify the annual charge, you’ll need to use the card’s features.
Benefits
Citi Clear credit card may not be a traditional rewards credit card, but it offers several deal-sweeteners and perks that can help cardholders earn points, cashback, and save money in various ways. Here are some of the notable extras that come with the Citi Clear credit card:
The balance transfer discount of 0%.
If you have debt to pay off, balance transfers—where you can move debt from other credit cards—are already a fairly good offer. Typically, 0% interest deals last for six, twelve, or even eighteen months. Rarely does a credit card offer a lengthy three-year interest-free period for debt transfers.
Additionally, there are no setup fees for balance transfers, which typically range from 1% to 3% of the transferred amount. Consider this while setting a limit because you can transfer up to 80% of your card’s balance. For instance, you would require a card with a $5000 credit limit if you owed $4000.
One of the few banks, Citi, also permits balance transfers from credit cards and personal loans (as well as some buy-now-pay-later services, including Zip Pay, or any other service with a BSB/Account number or BPAY Biller Code). That makes debt consolidation much more feasible.
With the balance transfer offer, this card becomes a legitimate financial tool for a debt-reduction plan. With such a long repayment period, you can design a manageable repayment schedule and pay off little amounts of debt without worrying about the interest rate snowballing each month.
Discount on the annual charge
The first year’s annual fee is half off; as a result, you’ll pay $49 instead of the normal $99, and so on. You must be a new Citi Clear cardholder in order to qualify for the offers on this card. (but you can have had other Citi cards before, which is a nice gesture by Citi).
Citi PayAll
Earn Points on Payments that don’t Normally Earn Points
With Citi PayAll, cardholders can earn points on online payments that typically do not earn points, such as rent, childcare and education fees, and taxes. For every $1 spent through Citi PayAll, cardholders can earn 1 Citi point or 0.5 Qantas points. This allows cardholders to maximize their rewards potential and earn points on their regular expenses, helping them accumulate points faster.
My Cashback Program – Personalized Cashback Offers from Participating Merchants
Citi has introduced its My Cashback program, which offers personalized cashback offers to cardholders from participating merchants. As cardholders shop using their Citi card, they will automatically receive cashback offers on their app, allowing them to save money on their purchases. This feature provides cardholders with additional savings on top of their regular spending.
Insurance Coverage – Protecting Cardholders and their Purchases
The Citi Clear credit card offers a range of insurance coverage that can provide cardholders with added protection and savings. Besides the free International Travel Insurance, cardholders also receive Mobile Phone Protection, Transit Accident Insurance, Purchase Cover Insurance, Extended Warranty Insurance, and Guaranteed Pricing Scheme on eligible purchases.
These insurances can help cardholders save money in case of lost, damaged, or stolen items, or when they find a better price elsewhere. The Mobile Phone Protection is a rare feature that can provide coverage against accidental damage or theft of the cardholder’s mobile phone, which can be a valuable benefit in today’s tech-centric world.
Free Additional Cardholders – Share the Benefits with Your Loved Ones
Cardholders of the Citi Clear credit card can add up to 4 extra cards for their loved ones, such as family members or trusted friends (cardholders must be over 16). While it’s important to note that many of the card’s features apply only to the primary cardholder, the ability to add additional cardholders allows cardholders to share the benefits of the card with their loved ones and help them enjoy the perks of the card as well.
Citi Quick Cash – Access Credit Easily and Conveniently
Citi Clear credit card offers Citi Quick Cash, which serves as an alternative to Payday loans and Pay on demand apps. With Citi Quick Cash, cardholders can access from $500 up to 90% of the credit available on their card, and the funds can be transferred to a personal Citi account on the same day. This feature provides cardholders with a convenient option to access credit when needed, without the need for additional loan applications or lengthy approval processes.
Citi Instalment Plans – Flexibility in Repayment
The Citi Clear credit card also offers Citi Instalment Plans, which allow cardholders to break up big purchases into smaller payments with a fixed interest rate over a set term. This feature provides cardholders with flexibility in managing their expenses and repayment, allowing them to spread out their payments over time and avoid large upfront costs.
In conclusion, while Citi Clear credit card may not be a traditional rewards credit card, it offers several deal-sweeteners and perks that can provide cardholders with additional value and savings. From earning points on payments that don’t normally earn points through Citi PayAll, personalized cashback offers from participating merchants through My Cashback program,
How Does the Rewards Program on the Citi Clear Credit Card Operate?
Learn how to use card rewards by using the brief, simple instructions below.
- Spend results in Citi Dollars, which may be redeemed for cash, miles, or gift cards.
- Citi Dollars lose their value one year after being earned.
- 25,000 points can be exchanged for 10,000 air miles with Citi Dollars. (ie KrisFlyer, Asia Miles)
- Each Citi Dollars to Air Miles exchange carries a S$25 fee.
- Upon cancellation of the card account, any unused Citi Dollars are forfeited.
Conclusion
Because of its fantastic meal discounts and mile-earning potential, Citi Clear Card stands out among other student credit cards. Without a minimum income requirement, students who are 18 years of age and older can earn 1 Pt (equal to 0.4 miles) for every Singapore dollar spent. Additionally, cardholders have access to Citi Gourmet Pleasures, which provides additional discounts and savings at well-known dining establishments. The S$29.96 fee (waived for a year) may be offset by additional benefits.