Citi Bank Rewards Credit Card
If you are looking for credit card that avails convenient offers for shopping, traveling and other transactions. Users will get top quality offers and deals in different category. This is one of the best credit cards that Citibank avails for its customers. Earned rewards points can be used as per user requirement to buy gift items, to shop anything or for any other purpose. Cardholder may easily redeem or utilize their rewards points when they look for flight ticket booking, holiday trip, online shopping and transaction and cash back rewards. One of the interesting things about these rewards is that there is validity related protocol and users may use these points as per their comfort and need. In short it can be said that this is one of the best reward earning option for persons who love to earn maximum rewards points and offers while exploring online platforms or any other utility store. This card will offers maximum numbers of points and specific rewards but at the same time, if users will pay all dues always on time they it will be more than handy credit card for users.
Features of Citi Bank Rewards Credit Card
1. Cardholder will be eligible to apply for loan.
2. 10X rewards points when card is used to buy at departmental stores.
3. If you apply for add-on cards then you will receive 500 rewards points.
4. 1000 rewards points, if you spend 1 lakhs yearly.
5. Cardholders will get 500 rewards points as birthday gifts.
6. Save up to 20% while paying bill at restaurants.
7. Cardholder will get life insurance cover of 5 lakhs.
8. Various offers in case of card loss liability.
9. You will receive rewards points with your transactions.
Benefits of Citi Bank Rewards Credit Card
To get top redemption facilities and maximum rewards earning program always go with this rewards credit card. As per norms of bank there are some specific criteria regarding offers and rewards:
a. If card user will spend more than INR 125 then minimum 10 rewards points will be earned.
b. When card user will swap for more than INR 125 then as per bank policy he will earn 10 rewards points.
c. 1 rewards point will be awarded by bank when users will spend INR 125 or more on other category than specified above.
d. If someone spends more than more than 30000 monthly then he will earn 300 rewards points as bonus.
One of the most delighting facilities with this card reward is that rewards points can be easily redeemed for categories like gifts, vouchers, products. One thing that user must remember that before opting for redemption, you have sufficient amount of points and fulfill all the required criteria specified by the bank
a. In Store Shopping: User may use their rewards points at partner store, when you have more than 250 rewards points. As per bank policy one rewards point worth 0.30
b. Fuel Redemptions: If you have more than 250 rewards points then this is one of the best options to redeem your points at more than 1200 Indian Oil Fuel Stations. In this category 1 reward point worth 0.25
c. Gift Voucher: Under the rewards category there are several products on which user can utilize their points.
d. Air Mile: If you have more than 100 rewards points then as frequent flyer member program and 1 reward value is 0.75
e. Online Shopping: Buy movie ticket, holiday trip ticket, mega stores booking on selected stores and minimum required points to redeem is 250.
f. Cash Back Offers: To redeem, minimum reward point must be more than 5000 and utilization will be allowed on basis of transaction and account statement.
Welcome Gift Offers
If user will perform transaction through Citibank rewards credit card in 30 days right after card issue date. This is limited time offer to use the before March 2018. Another way to earn reward point is spend INR 1000 single time in next 60 days form card approval date and you will get 1000 rewards points extra.
Annual Fee Reversal
As per norms of Citibank, there is no fee for applying this card. If card user will spend more than INR 30000 in financial year then he will be free from paying subscription fees otherwise user will have to pay 1000 as fees.
User will get up to 15% cash back or discount if they will swap credit card at selected or partner restaurants.
Convert Your Payment into EMI
If you want to convert your payments into EMI then you can easily choose this option and here users will get several time slots on basis of your income and other valuable factors.
Fees and Charges for Citibank Rewards Credit Card
Joining and Annual Subscription Fees
a. Nil for primary card if user spends more than 30000 yearly.
b. Nil for additional cards.
ECS/ACH/Cheque Bounce Charge
It is Rs.500 for every bounce ACH/Cheque/ECS, as per guideline of Citibank.
Late Payment Charges
This fees will come into effect on basis of your outstanding balance of your account and if you have not paid minimum due amount. User must try to pay all due amount right before last date to maintain healthy credit score card. In current scenario charges are specified below:
a. Rs. 300 will be charged as late fees if due amount is more than INR 10000.
b. Rs. 600 will be charged as late fees if due amount is between 10001 and 25000.
Cash Advance Fees
If charge will come into effect once user will cross the normal or free transaction limit allowed by the respective bank, so always follow all the policy and terms and condition to avoid and additional burden. As far as current charges are concern it is 2.50% of total amount in Indian ATM and if you will withdraw amount from other countries then it will be $7.5. Interest rates will came into effect right after you will withdraw amount form ATM, so it is best to use your Citibank rewards credit card as last cash withdrawal amount.
Currency Exchange Charges
Citibank card offers the facility of currency transfer from one to other countries. Bank will apply charges as per charges being applied for in that particular country. As per recent policy of bank charges user need to pay 3.5% of total amount. These types of facility ease the task of users and allow them to send and receive their amount form one to other countries.
Default Payment Interest Rate
For this card interest rate vary between 3.10% and 3.40% per month or as far as annual rates are concern interest rate will vary between 37.20% and 40.80% as per banking authority. This card may prove expensive if you are on mark to pay your all dues. These rates basically depend on spending, utilization, repayment specification. So always maintain higher credit score to get finical benefits and other utilities.
Major Concerning Factors of Citibank Rewards Credit Card
Inconsistent Interest Rates
Citibank decides interest rates after comparing several factors like repayment, spending, utilization and others. Generally interest rates may vary between 3.10% and 3.40%. Bank default interest rate is 3.5% around 42% annually.
Limited Cash back Earning Opportunity
As name of card specify that there are several options for users to earn rewards, at the same time as far as cash back facility is concern there is rare option. In short it can be said that if you are looking for rewards then this is the best for you otherwise you may opt for other available cards.
Why Citibank Rewards Credit Card?
a. Options to waive off annual fees.
b. Attractive welcome offer for new users.
c. Options to turn your payments into EMIs.
d. Up to 15% discounts on dining stores.
e. Opportunity to earn 10 rewards points under excellent rewards program.
Citibank Rewards Credit Card Pros
a. Excellent rewards Program.
b. Interactive joining bonus.
c. Maximum discount on dining.
Citibank Rewards Credit Card Cons
a. High Interest Rates.
b. Dynamic Interest Rates.
c. Complex Processing.
Required Document for Citibank Rewards Credit Card
1. For salaried employee last three month salary slip.
2. In case of self employed applicant last two years ITR report, auditing report, last three month bank statement, office address proof, last 6 months balance sheet along with 3 month old bank statement.
3. Telephone bill, ration card, electricity bill can be submitted as address proof.
4. Passport, Voter ID, Aadhar card, Driving License can be submitted as identity proof.
Eligibility Criteria for Citibank Rewards Credit Card
1. Nationality Criteria: Applicant must be residential of India. This is one of the vital factors that pay important role is card applicant approval.
2. Age Factor: Applicant minimum age must be 21 years and maximum age can be 65 years.
3. Regular income source is mandatory and for salaried employee, income must be more than INR 20000.
4. Apart from above describe criteria; applicant must fulfill all the eligibility decided by the Citibank.
CitiAlert- SMS Alert Service by Citbank
a. Informational: It will help you to track all withdrawal from ATM.
b. Fraud Detection: It will offer alert on all activities and account login related information.
c. Reminders: Offer information regarding due payment and bill payment dates.
Benefits for Credit Card Users
1. Payment Bounce Alert
2. Payment Due Date alert
3. Alert Regarding Payment Confirmation
4. Mini Statement Alert.
Benefits for Banking Services
1. ATM transactions alert.
2. Salary Credit Alert.
3. Outwards remittance.
4. Inward remittance.
Benefits for NRI
a. Cheque Status.
b. Account Balance.
c. Cheques bounce status.
Benefits Related to Ready Cash
a. Loan closure alert.
b. Loan disbursal alert.
c. Payment bounce alert.
d. Payment confirmation alert.
e. Contact Details Updates Alert.
Citibank Statement On-Email Facility
1. It is fully secure because it is based on 128 bit encryption format.
2. Request for duplicate statements become easier.
3. It is always available.
4. It is rapid, eco-friendly and convenient.
5. Avails the facility to pay your tax electronically.
Customer care related contact number
1. Citi priority/credit card/citibanking/business preferred/Suvidha Customer care number: 1860 210 2484
2. If someone is calling from outside India: +91 22 4955 2484
3. Customer Care Office Address: Citibank N.A., P.O. Box No. 4830, Anna Salai Post Office, Chennai - 600 002.
4. Registered Office Address: Citibank N.A., Mail Room, ACROPOLIS, 9th Floor, New Door No.148 (Old No.68), Dr. Radhakrishnan Salai, Mylapore, Chennai – 600 004.
5. For cumulative distribution function (CDF) related queries: Citibank N.A., Mail Room, No.2, Club House Road, Chennai - 600 002.
6. For DTDC related queries: email@example.com
7. Email address for NRI, pre account opening queries: firstname.lastname@example.org