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Citi Quick Cash (0% P.a. for 12 Months with a 2.49% Fee) + Bonus $100 Gift Card on $500 to $6000 | $200 Gift Card over $6000


Received an Email from CITI today, probably targeted

Got your eyes on a big purchase, but unsure how to fund it?

Well, with your Citi credit card ending in XXXX you can access cash from $500 up to 90% of your available credit limit at the rate of 0% p.a. Budget better with manageable monthly instalments over 12 months. A 2.49% fee also applies.

We call this feature Citi Quick Cash which is a type of instalment plan. You get to enjoy a lump sum upfront, then pay it off in fixed monthly instalments.

Request Quick Cash today to receive an e-Gift card of up to $200 to use at Myer, JB Hi-Fi or Coles.1

Think of Citi Quick Cash like buy now pay later, but for anything.

Be quick, this offer ends 18 November 2020.

quick cash $500-$6000 = GC $100
quick cash $6000 plus = GC $200

The account needs to remain open 12 weeks, 10 weeks to redeem the code for GC.
Choose from Myer,JB Hi-Fi or Coles.

Yes, you will have interests free days, if you pay off you balance other than the citi cash.
Not sure if you would earn points.

My personal experience, CITI closed my quick cash last time prior giving me the gift card after I have made a large sum payment ($5500 of $6001), don't pay a large sum of it. Just wait until you get your GC.

Stay safe.


Do I keep my interest free period with a Fixed Payment Option?

The interest free period applies when you pay your full closing balance from your last statement of Account by the Payment Due Date (excluding any Fixed Payment Option balance which isn’t due for payment by that Payment Due Date). No interest free period is available on Cash Advances or Balance Transfers. Whilst you have a Balance Transfer You will be charged interest on your daily unpaid balance.

Can I have more than one Fixed Payment Option?

Yes. You can have more than one Fixed Payment Option as long as each request is within your available credit limit. However, if you have an outstanding balance we will limit the Fixed Payment Option amount to only your available credit limit amount and you will not be able to request up to 100% of your credit limit until your outstanding balance is paid.

Cash accessed from your credit card with a Fixed Payment Option will not earn rewards points.

Related Stores

Citibank Australia
Citibank Australia


  • The email I got offered at 6.9% and no gift card someone's getting ripped off I think its me.

  • rate offered to me is 10.99% =/

  • Is the 2.49% fee pro rata? Or else it isn't worth much.

  • My offer was 5.99%pa

  • Thanks for this, I usually ignore these offers from citi, but the GC is quite the sweetener.

    Going for the minimum seems like the best deal, since it'll cost $12.50 and you get a $100 GC.

    Going for the $200 card will cost at least $150 upfront, but you get a 12 month interest free loan on the amount taken; which could go right into an offset account.

    Edit : I received the exact same 0%, 2.49% fee, $100/200 GC offer as the OP.

    I notice in the fine print

    "1. e-Gift card offer is available for each Citi Quick Cash instalment plan set up by 18 November 2020. You will receive a $100 e-Gift card for a Citi Quick Cash instalment plan of $500 or more up to $6,000 or a $200 e-Gift card for a Citi Quick Cash instalment plan of more than $6,000. "

    If i'm reading that right, you're able to take up the offer as many times as you want; so instead of doing a single $6000 plan, you could do 12x $500 plans and walk away with $1200 in giftcards. That can't be right

    • Yep, you have hit the nail on the head in this post. I agree with your interpretation and came to the same conclusion (sans the 'can't be right' part).

      For anyone savvy enough to understand Citi's systems, terms and conditions, and can manage the moving parts, this is a very lucrative offer.

      I am presently waiting on a few gift cards from an earlier, similarly-worded, promotion.

  • Congratulations to those receiving the offer. However, please do your own calculation of the effective interest rate as the arrangement appears to be an instalment plan which means you may only have the use of half(?) of the Quick Cash amount for the full period. I do not have the details to give a definite answer but would like to alert fellow ozbargainers.

    • Yes that sounds right. Say you borrow 1000, the monthly instalment gets taken off the 1000 each month. So halfway through the plan you are Only borrowing 500

  • I haven’t completely looked into my offer but if there’s no fees associated with it then it’s actually a good deal with the gift card. 6k x 5.99pa = $359.4 in interest (would be less given payments made over time reduce the principle amount but lets just roll with it for now), which = $29.95 per month in interest payments. Receive the gift card (as stated in terms and conditions in email) within 12 weeks = 3 months max of payments, so $90 odd max for a $200 gift card. Roughly, and not considering any further fee’s.

    • If you also get slugged the 2.49% upfront fee, then it'll probably kill the economics of the deal for you.

      • Yes, but I don’t. There is no mention of the upfront fee. Just the interest rate of 5.99%

        • Oh then that's an even better deal, since you can pay it right after you get your GC, your effective cost will be < 1%

          • @jlien: Probably even less…put the funds in my offset account, pay off most of the balance of this promo immediately (so long as you still have some owing, I think you still receive the GC).

        • I got the same 5.99%, it says in the terms "you will be charged an initial interest charge". I guess that is as good as an upfront fee.

          • @Joey4: Yep, $0.98 for month 0 - $500 Quick cash. My amortisation schedule lays it all out, actually pretty impressed by citi they have laid it all out.

  • How does this work with a monthly account paid in full?

    • pay off what you have had spend plus that monthly payment,

      • I'm quite new to this but how does it work because I've got the 5.99% offer. So lets say you borrow $500 in quick cash. How much fees are you expected to pay back at the end of that month?

  • Got the same offer as OP and signed up to $510 loan just to get the gift card. Because you pay the 2.49% fee upfront and the principal in installments, effective interest rate is somewhat high. By my calculation, $500 loan results in 4.68% effective interest rate.

    For anyone wondering why that is the case - it's because in month 0 we pay the 2.49% but receive limited benefit from paying Principal Amount/12 in first month (in the low interest rate environment), slightly more benefit in second month and maximum benefit at the end of 12 months (because of time value of money).

    In total, on a $500 loan you'd pay $512.45. $12.45 upfront and $41.61 every month for a year.

  • Mine is 5.99% but twas sent back in Sept 2020.

  • I already have a Fixed Payment Option from the previous offer

    Still waiting for the gift card. Wonder how obtaining another Quick Cash offer will go with the current one?

    • Called up and confirmed that you can have both

    • It will work. Quick cash is a type of fixed payment option, just branded differently.

      What's more, I don't see any limit to the number of fixed payment options that can be active at any one time.

  • No love from citi, no emails here :(

  • Does anyone know how this works when it comes to repayments? Will this amount be separated from usual card spending amounts. I'm thinking what will happen when I pay my balance each month. Knowing Citi's shady behaviour, I wouldn't be surprised if repayments go to the fixed repayment amount first (therefore making you ineligible for the gift card) or there will be a very tricky timing issue where the normal spending balance becomes due and starts attracting interest before repayments are contributed to that over the fixed interest balance.

    Hopefully I'm overthinking this but I have been burnt by Citi before

  • Tempted to try for 8. Worst case, its a break even at 8 x $500 @ 2.49%, best case its $700 net bonus.

    Anyone had success with multiples in previous offers?

    • Did you click through the email? Or directly request from the app. Wonder if it makes a difference.

      On the app there is no mention of gift cards, on the email there is.

      With the email link I've used it 3 times already but now the link doesn't work anymore so I'm requesting through the app now




    • No, thats wrong. Read the terms and conditions.



      You request, by applying for an FPO, that payments made to your account in a cycle will be first applied to FPOs up to the amount of any initial interest charge or instalment or related interest due or overdue in that period. Any additional payments will be applied to the balance of your account in accordance with your credit card or unsecured credit terms and conditions


    • As pointed out already, you are wrong.

      It pays to read the terms and conditions.

      Also, I suggest having your caps-lock key repaired.

  • I wonder how this will work for me as I have a direct debit set up to pay the account back in full…..?

  • Anyone been able to take up this offer more than once?

    After taking it up the first time, the link in the email no longer works for me, i keep getting the message "We apologise, an error has occurred whilst processing your request."

    • Login to Citi website and click Services -> Card Services on top bar and there will then be a link on the left for FIXED PAYMENT OPTION which expands to "Convert funds into a Fixed Payment Option". I may have used this a few times.

      • Thanks for that.

        There's no mention of gift cards on that screen though; just seems to be the standard offer they usually have.
        Were you able to claim gift cards on the FPO's you created that way?

    • I was getting that but I had an open Citibank session. Once closed, it worked. Just restart your browser if you keep getting it. With the method described by ruddj, do you still get the gift card? (Just realised you asked that in your follow-up post!)

      Anyway, my offer was 4.99% application fee, 0% p.a. interest. At first there was no gift card offer, but I've had a few emails and the last 2 had the offer. Applied before looking here and am now thinking whether I would have got another offer if I'd have held off, with the more attractive rates offered to sicinidan!!

      I went for $1900. Didn't care about making money (guess I make a fiver though) but hate paying fees/interest. Might go for a few more before the offer closes as I won't use the card for the next year and will just pop the cash in the bank to accrue a whopping 0.15% p.a. gain ha ha!

      If you do $500 20 times you get $2000 worth of gift cards. and only pay $500 in fees. Pop the $10K in the bank and make sure you only use it for the repayments. Seems very odd that they allow this.

      • Unfortunately I don't believe there is any confirmation on Gift Cards for 12 weeks. T&Cs (below) don't say you have to use the link at all, just set up the Quick Cash. I did one though link and 22 though the Services link so hope it works.

        1. e-Gift card offer is available for each Citi Quick Cash instalment plan set up by 18 November 2020. You will receive a $100 e-Gift card for a Citi Quick Cash instalment plan of $500 or more up to $6,000 or a $200 e-Gift card for a Citi Quick Cash instalment plan of more than $6,000. Your e-Gift card will be available for redemption within 12 weeks of the date the instalment plan is set up providing your instalment plan has not been cancelled or repaid in full and your account is in good standing. We will send you a unique code and instructions on how to redeem your e-Gift card via email. You must redeem your e-Gift card within 10 weeks. Redemptions may not be reversed, cancelled or changed. e-Gift cards are non-reloadable and non-redeemable for cash.
  • Can this offer be stacked with the existing offer of a $500 voucher for $3000 spending in the first 90 days of your card getting approved? Ta.

    • I think no, pervious T and C stated that CITIpayall is excluded for spending. It's only logical…..

  • Got this offer but i accidentally paid my current statement late by 1 day. Does it affect this??

    • I don't think so. Login to your account and I am confident that you will find that the FPO remains active.

      • Thanks

        Citi ended up calling me with this offer and I confirmed with them that you can pretty much get multiple gift cards (with quick cash over $500) until your credit limit is exhausted.

        • 30,000/500 = 60.
          lets say 50 quick cash, then 50*100 = 5000.
          Am I right ?


          • @sicinadan: 😂 yes

            $30,000 credit limit can get you $6000 in gift cards to be spent within 10 weeks 😛

            Too bad I lowered my credit limit to $6000 after my $0 annual fee deal was done

            • @p1723: It sounds too good to be true…

              • @jackychen: It really does doesn't it.

                I took out 10 total, with the fee at around $126. Worst case scenario I break even with 1x gift card and 12 month bank interest.

                Though if they confirmed it over the phone, which they did, I would expect them to honour it

                • @p1723: Same, called up again today and I have asked the rep to make a note on my account about this enquire. Then called back 5 minutes later have someone else checked it.

                • @p1723: I wonder how many can you take, I have taken a few, then the offer just disappeared.

              • @jackychen: Even if it does, the terms are clear. Citi itself decided the terms, so if it wanted something else, then it should have set different terms.

                There is no way that Citi will get away with not producing a gift card for 'each' FPO.

                In defence of Citi, it has never previously not honoured its generous promotions.

            • @p1723: The gift cards do not need to be spend within 10 weeks.

  • Do Citibank do another credit check on your file when you apply for this?

  • Wonderful post OP and other helpful posts. Can someone help me to summarize the following:

    Can I use my credit card normally for the balance left in the credit limit without paying extra charge.

    • Yes, you can, as long as you don't carry a balance ( The amount you have spend, you must pay it in full, you must also pay in full of that month's instalment, not the FULL instalment ).

      For example:
      Your credit limit is $10000
      You have a fixed payment option of $5000
      CITI charged you $20 for the fee (interest, one-time fee, whatever they call it) - I am not sure if this counts as cash advanced or not.
      You have also spent whatever you like on your CC, lets say $180

      Then before your due day.
      You pay:
      $20 + $180 = $200.

      The amount you have allocated to FPO will be deducted from your total usable credit limit (That is from 10K to 5 k now).

      Next month:
      Your FPO repayment is $1000
      You have also spend whatever you like for $400
      Before the due day, you need to pay $ 1000 +$400.

      This way, you will not be charged any additional fees.


  • Has anyone set up 5 or 10 of these :)

  • hey guys, just report back, it seems to me my link only worked once. wondering how did you you guys set up more than 1

  • Anyone get it offered at 10.99%p.a? 😒

  • Received the exact same offer again today and it ends 23 Dec. This time they have updated the terms: :p

    Important Information

    1. e-Gift card offer is available for your Citi Quick Cash instalment plan set up by 23 December 2020. One e-Gift card per account, per offer period. You will receive a $100 e-Gift card for a Citi Quick Cash instalment plan of $500 or more up to $6,000 or a $200 e-Gift card for a Citi Quick Cash instalment plan of more than $6,000.