These credit cards are reward cards with free insurances. Platinum card has five insurances while Signature has six. Minimum income apply. These are the best fee free credit cards I can find to date: no annual fee + 0% BT offer + reward points(1.25/1.5 per $) + comprehensive insurances. Enjoy.
Edit: this has been extended to the end of March or July 2014.
My wife works casual and I'm a stay at home dad, the last time we applied for a credit card (for rewards) we got turned down. It's infuriating when they can access our bank information and find out that we could easily pay for any expenses. Even more annoying when I was 18 and absolutely broke I could've easily met all of the requirements and yet it would have sent me really far in debt as it did with several of the people I knew who would get a credit card and spend up until it was maxed and then payed off the minimum amount for years until they could finally afford to start paying off their debt from when they were 18 and partying.
relax, you're not missing out on a lot anyway (rewards scheme)
Thats how they make their money. debt.
dont feel bad. I have a CBA Diamonds Mastercard which has worked out great for travel insurance ( I actually made a claim and was paid) yet I was refused a $1,000 28 degrees card because I don't have a regular income having your own self managed super doesn't count apparently
hmmm I have the platinum card with no fees for a few years now…might give them a call tomorrow to see if they can upgrade me to the signature card.
PS: beware of their annoying marketing calls too…
$1 = 1.5 Citibank reward points = 1 Velocity point
It is the best credit card to earn Velocity point without annual fee.
https://www.citibank.com.au/AUGCB/ICARD/condyn/getEntry.do?f…
EDIT: For Signature card only
American Express has a card that gives 1 velocity point per $1 spent, no annual fee.
No-surcharge Amex acceptance is way worse than Visa acceptance, though, so if both are $0/year it's hard to justify the Amex Velocity card.
How many velocity points is required for a syd to melb flight?
List of documents they want with the application:
Please send us a copy of your:
Driver Licence or proof of address (e.g. most recent electricity bill or utility bill)
Australian passport (if you have an Overseas passport, please also provide a copy of your visa) or Medicare Card (without interim or reciprocal health care) to confirm residency
Please also provide a copy of the following documents according to your type of income:
a) If you receive a salary, two months pay slips less than 60 days old
b) If you are self employed, your two most recent tax returns/assessments
c) If you are employed on a casual or temporary basis, or are a contractor, your employment contract and your most recent tax return/assessment
d) If you are retired, your superannuation fund statement or letter from Centrelink less than 60 days old.
d) If you are retired, your superannuation fund statement or letter from Centrelink less than 60 days old.
so, got to get Centerlink to say their giving me >$75,000pa?
which step did you get to that lists these requirements?
List of documents they want with the application:
That's only id and proof of income though, pretty standard procedure.
So what was the question? This is pretty much standard procedure for financial product applications.
On this page:
http://www.citibank.com.au/aus/credit_cards/cards_signature.…
(under Rewards tab)
Complimentary Rewards Program
Domestic: 1.5 reward points per $1 spent (if Balance Transfer offer is chosen) or 3 rewards points per $1 spent for 6 months (if Purchases offer is chosen). Reverts to 1.5 rewards points after the promotional period)
International: 4 reward points per $1 spent
Are all these benefits of normal Signature Card (with Annual Fee) are available on FandF offer?
- Free wine every time you dine with the Citibank Dining Program
- Complimentary Priority Pass™ Membership and two airport lounge visits per year8
- Discounted Airport Meet & Assist service
Complimentary Priority Pass™ Membership and two airport lounge visits per year
You get that thrown in for free? Hmmm….wondering if applying for this after having applied for Bankwest Platinum and Macquarie Visa in the past couple of months…
I applied for 3 cc's in the space of 3 weeks, all approved.
note that you can't keep up that rate for very long without starting to get auto-denied.
Does anyone know if the 28Degrees cashout loophole is available on the Citibank CC?
ie Putting a bunch of cash on the card then withdrawing it at an overseas ATM?
This might be the new OzBargain CC now!
Try citibank plus account, debit card, for atm withdrawals.
this card has conversion fees unlike 28 degrees
Oh :(
Given this was a Citibank card, I assumed there were no conversion fees without checking. Thanks for the catch before I started using it for overseas purchases.
Well, I guess Caprimulgus' combo will be the OzBargain wallet load-out now.
"this card has conversion fees unlike 28 degrees" - is this correct???
yes, basically all credit cards charge extortionate forex fees, aside from: Bankwest Platinum, 28 Degrees and Aussie Platinum.
why bother? citibank credit cards have forex fees. just get a citibank plus transaction account…that will give you free overseas withdraws, without the hassles of "loading" a credit card.
edit: as above.
primary card: citibank platinum (or signature)
overseas purchases: 28 degrees (or bankwest zero platinum)
overseas withdraws: citibank plus debit card (28 degrees will no longer be free from next year)
I use the same combo, citibank plus debit card is a really good for withdraws.
we just need to add in one of those ING paywave cards that everyone seems to have, and we have the new ozbargain standard issue professional's toolkit! :)
That's pretty much my kit at the moment, once I get the Signature.
(28 degrees will no longer be free from next year)
Really?? I haven't been told that
Really?? I haven't been told that
yes you have, it was on your last statement:
"Effective January 1, 2014, the following changes will apply:
A cash advance fee of 3% of the cash advance or $4 (whichever is greater) will be charged to the account on each occasion on which you obtain a cash advance or make a cash equivalent transaction"
Oh. Didn't read that closely as I had $0 balance
If you put your money in the card and then withdraw it from ATMs overs, is it classified as cash advance?
Yes
Do you know if any Citibank cards have forex fees?
Are 28 degrees and bank west zero platinum the only ones?
citibank credit cards have forex fees. citibank plus debit card doesn't.
as above: use 28 degrees or bankwest zero platinum for overseas purchases (no forex fees), and citibank plus debit card for overseas withdraws (no forex/withdraw fees).
Citibank plus account (debit card) doesn't charge overseas ATM withdrawal fee.
http://www.citibank.com.au/aus/banking/everyday_banking/citi…
You mean you can withdraw from any other bank's ATM or it must be Citibank ATM machine overseas?
there are ATM charges (set by the ATM owner), and there are foreign exchange charges (set by your bank).
from a citibank ATM there will be no fees at all. from other bank's ATMs, there will be no foreign exchange charge by citibank, but the atm will likely have an ATM charge.
I used quite a few ATMs, none of them charges withdrawal fee so far, but this really depends on the atm operators.
So, do you know if I load up the card like I used to on my 28degrees, can I make free OS ATM cash withdrawals, with no foreign exchange charges ?
yes, citibank plus transaction account + debit card has no foreign exchange/withdraw charges. so cash withdraws are absolutely free from citibank ATMs. from non-citibank ATMs you won't be charged any fees by citibank, but you will be charged the ATM fee by the ATM owner if they charge one (this fee is pretty much unavoidable, unless you happen to have a card from that international provider).
and it's a regular transaction account + debit card, so you don't "load up" the (credit) card like 28degrees. you just put money in the account, and then can withdraw it with the debit card, just like any savings/transaction account and atm/debit card. (which might appear to be similar to "loading" a credit card into credit, but is not exactly the same thing…potential liability issues).
I have recently returned from my trip to Malaysia and Bali. I used citibank transaction plus debit card for all my cash withdrawals and I haven't been charged a single cent from both ends. The exchange rate has also been very close to xe.com rates, very happy with this card.
I am told to select the credit button instead of saving when withdrawing money out of the ATM overseas
to avoid fees. Is that correct?
with a citibank plus card? doesn't matter, if it works, it works. that has absolutely nothing to do with Citibank credit cards or this offer, though.
Nvm
Whoa never seen something like this. Anyone got a no annual fee platnum or reserve Amex. Just Curious
How does this (platinum) card compare to the Coles rewards mastercard? Was just about to sign up for the Coles MC with the $50 offer (which effectively takes care of the first year's annual fee), when this just popped out of nowhere!
this is likely much much better value than the Coles card.
I'm on the same boat… The Coles rewards mc gives an $100:$1 spend:redeem ratio whereas the citibank platinum is $145.6:$1.
The Coles mc would be better if you're purely after rewards for the first year. I think I'd cancel it after one year's use. At the moment I'm more interested in the groceries cash back and the shoppers protection (even though it's two years but if you cancel the card after one year it's effectively halved), and not so much on travel insurance. Maybe give GE a call to cancel the card and see if they'd waive the annual fee. If that doesn't work I'd get the citibank platinum. With most credit cards this "deal" is likely to be ongoing.
I guess it depends on your spending habits. With the exception of recently using my ING card for paywave purchases under $100, I usually put all my everyday spending on my credit card. Id guess around $20,000 per year.
With the Citibank Platinum that $20,000 would get a reward of around $137 (at $145.60 to $1)
With the Coles Platinum card, the same $20,000 spend would save me $200 off my groceries.
Less $50 fee = $150 but plus the $50 grocery voucher so first year savings are $200.
Much higher than $146 and WAY WAY more places accept Mastercard (without paying a surcharge) than Amex.
yeah I do try to pay with ING direct via paywave as much as possible… the spend:redeem ratio is unrivalled at $50:$1 (2%).
Interest rate is ~20%/p.a!! How can we go out from debt.. -_-
Oh yes, this card is only good for you if you can pay off the balance every month by the due date. If you can't it is very good for Citibank…
don't use a credit card at all if you're not paying it off in full each month (aside from emergencies).
Pay back on time, you won't be charged for the interest.
Admiral ackbar once said, "It's a trap!"
I once forgot to pay (honest) by due date and interest was about $100. I rang up and asked for waiver. Customer service says no so I asked for her manager. The manager looked at my history and said fine and waived it.
I have been very happy with the Orange Everyday Card…the 5% represents better rewards.
Of course I understand that it is only on purchases < $100, at places with PayWave and lasts 6 months.
I have never owned a Rewards points card before.
Can you earn reward points for :
Help appreciated.
yes, you earn points for all of the above.
Not sure for BPay. As what I knew for NAB and Westpac, BPay is not entitled.
Hi I wonder with the $0 annual fees, does this card still entitle for the "dining experience" reward? Thanks
Yes, all Citibank cards have that reward feature.
All cards do.
how did you order your tinfoil hat off the internet using cash? :P
I'm concerned about privacy too, but it is a trade off between getting best value, which includes being able to buy things online, versus privacy.
Biggest irony yet? Even cash is plastic, unless you want to pay me some gold/silver coins for the choc bars you want…
I pay in chocolate bars and the bank staff give me real gold! ^_^
Not all points are worthless.
I find airlines points the most useful if you redeem flights.
Qantas doesn't variate their points due to peak season and low season, therefore in peak season (mid dec) a flight from Melb to Hong Kong would cost around $1500-1800, using points, you can get them for around $300 (taxes).
If it costs nothing to get the points, then they are worth accumulating.
If you are paying to accumulate points, then you will need to do your own calculations.
And if you cut all plastic and go back to cash, then you'd get ripped off by the invisible Australia Tax by buying locally. The smart ozbargainers get 28 degrees then buy online and save…. sometimes over 50% of the price compared to Australia prices.
We can see that you clearly aren't a cleaver ozbargainer!
You shouldnt need to pay $300 for taxes with QFF. Ive redeemed two flights to hong kong each about 100k qff points and didnt need to pay tax.
Hmmm, Maybe you used points to pay off the Taxes.
When i spent my points, it was 60,000 points return, but around $300 taxes.
Booked my flights right on the peak season where flights are usually $1500 so I was still happy.
yeah I think so. I have lots of points so rather use the points than pay money :)
That only works when you're trying to get a regular ticket and paying using points rather than through the classic rewards system.
Generally you'd get a good deal on paying via points if they do specials on flights like now ($788 to HK).
Agree with lplau; Points are great deal more if you have to travel domestic in school holidays
+1 for Citibank. I have a corporate card program with Citi, and from PA's perspective, I am very satisfied with Citi's service.
I think they will do well in individual consumer cards.
I am confused. If both platinum and signature are free. Why would one choose platinum or signature?
Signature gives all insurances, rewards deals. So, why choose platinum?
if you don't meet the minimum income requirement…;)
Obviously you don't choose, bank choose which one you deserve from your income
Yep min income on signature is $75,000
I know I'm missing something obvious but where does it say $0 annual fee. I keep seeing "A discounted annual fee of $199 in the first year"
"$0 annual fee for life (annual saving of $199)"
Wow for life! I assumed this was just for the first year
I really must have been sent to the wrong link, it's everywhere on the page linked now.
What's the minimum credit limit on the Signature? Might use one to park some funds for offset account for 6 months…
ha ha, i've heard of this but i'm too scared to do. how does it affect credit rating
Screw credit rating. I'm already mortgaged out to the max. Not going to need a new one any time soon so might as well bite down hard :-)
i believe it's $15,000, but not 100% sure.
do you mean make a cash withdrawl and then balance transfer to the citibank card for 6 months?
I'll have to check, but I think it's in a slightly different order: you BT as much as you can onto another credit card, and then cash advance the excess credit (or possibly DD if it's linked to your transaction account).
I applied for the Signature Card on Sunday and got an approval with the card on the way email last night for the Platinum Card even though I earn more than $75,000. I already have a Westpac Singapore Airlines Platinum so no use in having a CB Platinum as well. Will be calling them once they open up today to cancel it.
What is the trick to qualify for Signature? What is their (hidden) criteria?
Maybe it's also the credit limit… if you have a bunch of cards with a relatively high combined credit limit, they can't give you the minimum for Signature which is $15,000.
I'm considering cancelling two cards, before I apply for Signature.
I didn't mention the Westpac card as it stated don't mention cards that you will cancel.
Have you already cancelled the card? As long as they can view it on your credit file (I'm speculating), they might have to take it into account.
I've had the Westpac card since 2006 so no doubt it will show but the CitiBank application does state not to mention any cards that "will be" cancelled.
I just got of the phone with them and they said to fax them a re assessment request - waste of time and no doubt I will now have a credit enquiry on my credit file from CB for a card I don't want.
From someone who has 11 credit cards, just dont put how many cards you have on the application. :)
I never do. I will wait a see what their response is to my re assessment request.
Had to laugh at that reply. 11 c/cards?
You must have one heck of a wallet to keep all those babies in :)
ahaha. I only really carry 2. :) the other 9 are at home.
thanks for the offer but I think I'll manage (finding a job isn't hard if you're willing to work)