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Citi Ready Credit: 3.99% p.a. for 3 Years on Initial Balance Transferred to Your Account, $199 Establishment Fee @ Citibank


Another Citi SMS offer, hope it’s not targeted.
Perfect to buy the Tesla

Of course might be worse than getting a home loan topup, but great compared to a secured personal loan.


Save with just 3.99% p.a. for the first 3 years on the initial balance transferred

No monthly or annual fees. Just a one-off establishment fee of $199

Choose your own repayments each month, over the minimum payment due

Credit limit between $5,000 and $75,000

Citi Ready Credit is a line of credit that you can dip into whenever you need, without reapplying. With the introductory offer of 3.99% p.a. for 3 years on the initial balance transferred you can request the transfer of funds to your bank account.1 Whether it’s for a big purchase, a big event or paying off a balance elsewhere, Citi Ready Credit ensures you have the funds you need, when you need. Apply online in as little as 10 minutes.

A standard variable rate of 20.49% p.a. applies to balances after 3 years, ongoing purchases and cash advances.


As always, please beware of the risks of credit card/ credit line before deciding to take it up.
And Enjoy !!

Related Stores

Citibank Australia
Citibank Australia

closed Comments

  • +2

    I wonder how many more of these we will get given Citi's announcement to depart the Australian market?

    • Yep, I was about to say… I wonder if citi will be around in 3 years?

      • +1

        Well you are borrowing money, so if they are not around, it might mean free money😂

    • They are trying to fatten the loan book up like Latitude Financial is with their deals. Take it whilst it lasts!

  • So you don't have to pay anything back for 3 years if I get a 20k loan for example?

    when is the 3.99% calculated?

    are there monthly repayments, what's the goal etc etc?

    • I expect it'd work like a home loan. So they work out the total amount you would owe (principal + interest) at the end of the term, and then divide that by 36 (3 years of monthly repayments). That's then what you pay every month for 36 months.

    • If you take a 20k loan, you will have to pay (20k + 3.99x20kx3)/ 36 in equal installments each month. Plus $199 set up fee. There are no additional monthly or annual fees.

      Check the calculator on the page and you can find out better.

      • Cool, can I pay it back in a lump sum just before the end of 36 months, therefore no interest?

        so just to clarify EG (20k + 3.99x20kx3)/ 36 in equal instalments each month (idc the actual number). Plus $199 set up fee (the only fee im paying is $199 for the entire 36 months, then i get hit with interest)

        how much of a hit to my credit would this be you reckon?

        EDIT: misread, 4% regardless, would default to 20% after 3 years, makes sense!

        • Why not get a zero percent credit card with 20k limit

          • @adrianhughes1998: Like where?

            EDIT: Would love to cash advance / loan 20k (directly to my bank to be free to use it; eg stock market etc)

            if you know a good deal lmk!

            • @blinkybro: Check Finder for deals. Obviously 0% for 12 or 15 months then it reverts. But can do balance transfers to other cards after that period is up

            • @blinkybro: Citi themselves do 0% for 30 months up to 80% of the balance approved. Can confirm pretty painless and the minimum payment is 2% of the remaining balance each month, leaves plenty for investing etc!


              • @mrcorehh: Not sure if i'm misunderstanding, but rate Cash advance rate 22.24% p.a. (cash advance is the only way to get it into your bank right?)

                • @blinkybro: You can “balance transfer” to a BSB and account number for you to “pay off your accounts yourself”

                  • @mrcorehh: 0% p.a. for 30 months (no balance transfer fee, reverts to cash advance rate)

                    isn't this the point saying it reverts to that if it doesn't work (eg to bsb / acc?)

                    sorry new to the balance transfer part!, do i apply for them to pay my bank directly? or something (pls explain haah!)

                    • +1

                      @blinkybro: Yeah it will revert to balance transfer rate after 30 months, I’m personally going to pay mine off in 24 months to avoid the third year’s annual fee for only 6 months card usage.

                      I’ve had mine since February, transferred via EFT to bsb/acc at application and paid $0.51 interest on $30k since you have to pay interest on the annual fee ($49 first year).

                      No stress!

                      • @mrcorehh: Okay great, so just to clarify (prior to receiving the card, I can EFT transfer to my bsb/acc (bank) with say $16k of 80% of 20k balance (i can put this in during my application?)

                        and then I only pay $149+49 for 24 months of holding the card

                        • @blinkybro: Yep that’s correct, just do NOT use the card or it will revert to cash advance is my understanding, I activated the card and now it’s sitting locked away

                          • @mrcorehh: Okay noted, how do I avoid getting charged interest on the annual fee too, just pay off $49 quickly?

                            also just to confirm only balance fee free on 80% right?

                            so your 30k is on a 37500 card?

                            sorry to be a noob…

                            • +1

                              @blinkybro: I’m not sure how to avoid paying the annual fee interest to be honest :(

                              They actually just won’t let you balance transfer more (probably so you try spend it..)

                              It’s actually 30.8k on a 38.5k card, yeah. :)

                              Neither mine nor my partners transfer went through without calling them, but we both called and requested the balance transfer over the phone and haven’t had a problem

                            • @blinkybro: Yep what @mrcorehh is saying is another way to do it. Most people don't realise there's better ways to borrow money than pay huge amounts of interest on the shit.

                  • +1

                    @mrcorehh: Wow - this is a good deal - May be deserves a post by itself.
                    I have not done a balance transfer to a bsb/account before, but what I have done is :
                    1. balance transfer to a CC with amount more than what’s currently due
                    2. Thus making the CC with positive balance
                    3. You can then withdraw the positive balance from a CC either online or even ATM by paying only the cash withdrawal fees (usually between $2-$5) but no interest as long as you only withdraw the positive balance.
                    For eg. If your cc current balance is $1,000, do a BT of $10,000, effectively making the CC balance as +9,000. Withdraw $8,990, leaving $10 to cover for the withdrawal fees and you won’t be charged any interest.

                    • @Dealking: Yep you can also do this!

                    • @Dealking: Too complicated. Just get the money transferred direct to your bank account. I paid for most of my car using a 0% balance transfer in Citibank a few years back. Paid it all off within 18m. No interest paid at all ☺️

                      • @nafe: I guess I had asked for that. If I remember correctly the balance transfer had to be set up by calling Citi and the guy on the phone refused to transfer to bank. I know Citi does it and I have known them to even write a cheque in your name, but the rep I was talking to just wouldn’t do either and thus I had to do this complicated way.

                        • @Dealking: Yeah, they also do a "convenience cheque". A friend got one by telling them she had many cards to pay off and it was easier to do it that way. Was no problems.

                        • @Dealking:

                          I have known them to even write a cheque in your name

                          They did this for me a couple of weeks ago. Had a positive balance on credit card, they wouldn't transfer electronically to a non-Citi account and posted a bank cheque instead. I didn't care because it was only a small amount.

                          rep I was talking to just wouldn’t do either

                          Helpful individual. Should have just called again and spoken to someone else.

                          I had to do this complicated way

                          Not really complicated, it's more that they raped you with fees that should never have been suffered. Please don't let banks get away with that in future!

                          • @the splingee: Thanks! Yes, I too hate paying unnecessary fees to banks, but I only paid like $3 or something to move my money from my positive balance CC to my bank account via the app, so it wasn’t that bad. But agree, I could have shown more patience and made more phone calls etc to save $3, but I preferred $3 over the stress of dealing with incompetent call centre guys 😂😂

  • Got same letter in the mail today..