Considering a Citibank credit card for your purchases?
There is no denying that the Citibank Credit Card cashback, rewards and miles are tempting, but are these the only things you have to consider? Staying in Singapore is surviving in a city-state with soaring costs of living. This means you have to be financially smart when choosing which credit card to apply for.
Aside from the privileges and benefits, it is equally important to take note of certain fees you don’t easily see unless you squint your eyes to read the fine prints.
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Citibank Credit Card Singapore
Citi PremierMiles American Express® Card
For every dollar spend, you can earn a certain number of miles which you can use to fly for free. one of the best features may be the fact that the miles you can get will never expire. However, you must know that each redemption has an administration fee of S$25.
Citi PremierMiles Visa Card
The minimum annual income is S$50,000. This is a bit high for a lot of Singaporeans. If you are looking for a travel credit card to earn miles, this may not be the best card for you. The annual fee of S$192 is also a bit steep if you just want to get a card for everyday buys.
Your overseas spend must be in foreign currency to earn more miles, however, you will be charged an administrative fee of 2.5% for each overseas transaction.
Citi Prestige Card
Tempted with free Citi Miles as your rewards? Citi Prestige Card has an annual fee of S$535. You might earn Citi Miles easily, but make sure you spend within your means. Also, if you are not a frequent flier, you may choose a card where you can earn miles with purchases you usually do.
Earn Citi rewards and privileges with the Citibank Rewards Card. However, do not forget that earning these rewards have certain terms and conditions such as the maximum Citi Dollars per statement is 20,000. Even if you spend more, you can’t earn more Citi Dollars.
The S$10 coupon from Qoo10 is limited only for the first 3,000 customers in March and first 1,500 in April. Coupons can only be released every Friday.
Citibank Clear Platinum Card
Earn rewards with dining spends, however, this excludes hotel dining. You may earn 5 Rewards Points for S$1 spent in online shopping, but this excludes food & beverage, airline, government, travel, brokerage/ securities, insurance, tuition, cinema, and online gambling websites.
Citi Paragon WORLD MasterCard
Complimentary coffee and 2hr parking are limited up to 50 cardmembers only from Mondays to Fridays. A maximum of Style$ 50 will be given for each transaction with the Citi Paragon WORLD MasterCard.
Citi Cash Back Card
Certain privileges are only applicable for partnering merchants for a certain period of time. You can only accumulate S$50 or more cash back in a month.
Citibank SMRT Card
You must spend at least S$300 or else SMRT$ earn rate will be 0.3% less. You may collect a maximum of 600 SMRT$ during any Qualifying Period. The Qualifying Period means the 12 –month period of your card from its date of issuance or the date it was renewed.
Citibank M1 Platinum Visa Card
This credit card is offered only to existing M1 phone and/or broadband subscribers.
Citi Esso Mobil Privilege Card
To maximize your discounts, your payments must be accompanied by a Smiles Card. Before you can get a Citi Esso Mobil Privilege Card, you must already have an existing Citibank credit card.
Facts about Citibank Equal Payment Plan
The 0% EPP has may have no interest and fees, but should you decide to cancel it, you will have to pay an administrative fee of S$100.
Should you decide to use EPP, you must know that you will no longer earn the supposed rewards, miles or rebates. The amount of item you have purchased will be deducted from your credit card’s credit limit. This means that your overall credit limit after the purchased will receive a huge dent. You must make sure that you won’t go over the limit.
Fees You May Not Know About
- Over limit Fee may be specified in your statement of account. Once you have spent more than your credit limit, you will be charged with the excess amount and in addition to the minimum payment amount. You must pay the balance immediately.
- Cash Advance Charges is S$15 or 6% of the amount withdrawn in each transaction.
- Interest Charges for Card Transactions (including Cash Advance except for Citi Clear Card) is the 26% per annum. It is best to pay before or on the due date to avoid interest charges from snowballing.
- Late Payment Charge is S$80. This is charged on you if you fail to settle your monthly bill. Avoid this fee by paying the minimum payment due.
If you prefer to make a quick purchase with cash, you can apply for a loan at Cash Mart. Cash Mart offers quick cash loans at a lower interest rate with flexible repayments terms. Visit CashMart.sg to find out how to get your funds in less than an hour.
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