Developed with Australia’s self-employed sole traders in mind, Citi Business Credit offers a convenient and low cost credit alternative to traditional revolving business products (e.g. business overdraft). Citi Business Credit is an unsecured line of Credit you can use again and again to manage your cash flow with ease.
The greater of $30; or the sum of 1% of outstanding balances plus interest plus late fees
Repayment methods
Direct Debit (Citi Easi-Pay)
BPAY®
Mail
Australia Post
Lump sum
repayments
Yes
Increase regular repayments
Yes
Access funds
ATM/ EFTPOS
Cheque book
Visa Debit
Worldwide accepted
Additional cardholder
Yes, up to 1
Fees & Charges
Annual fee
$125
Monthly fee
$0
Establishment fee
$199
Late payment
fee
$10 every 7 days until the Payment Due is made
Early termination fee
$0
Redraw fee
$0
Benefits of a Citi Business Credit:
SAVE - when you make purchases and cash advances with Citi Business Credit. With Citi Business Credit you can smooth your cash flow peaks and troughs more efficiently so you can start saving money faster
SAVE and pay no fees - pay NO ATM/EFTPOS transaction fees or cash advance fees#
SAVE with a competitive introductory rate - Low 15.49% p.a.3 on purchases AND cash advances. Put an end to paying high interest rates on your Credit Cards and personal loans
A revolving line of credit - This means interest is charged only on the amount you use of your total credit limit
Interest calculated daily - Every time you reduce your outstanding credit, you'll immediately see the benefits of lower interest charges.
Suitable if you'd like to:
Have credit for business or investment purposes only - the intended use of your Business Credit account must be for business or investment purposes only
Smooth normal seasonal fluctuations in your business cycle - Business Credit can act as a convenient, low cost finance tool to smooth the troughs of your regular business cycle
Manage temporary cash flow shortages - if your vendors, staff and debtors all have to be paid in the same week and you are still awaiting payment from your customers, Business Credit offers peace of mind by helping you to cover temporary cash flow shortages
Fund increases in current assets (e.g. stock) or the payment of peak or unexpected operating expenses - use Business Credit to capitalise on investment opportunities or fund increases to your current assets
Write cheques where only cheques are accepted - use your Business Credit cheque book to pay for items where Cards are not accepted
Use as a safety net in the event of an unlikely emergency - no matter how diligent your planning or how thorough your management of your business, emergency situations could happen. In an emergency, your Business Credit account can help you to cover unforeseen expenses.
Covers
CreditShield®Plus pays up to $30,000 to cover your Credit Card payments or your Ready Credit balance. You can secure this protection for only 74c per $100 of your closing balance each month
CreditShield®Plus will pay the minimum monthly amount due on your statement if you are unable to work, due to an accident or illness, or for up to 6 months in any 12 month period if you become unemployed.
If you suffer from one of the listed critical illnesses, or in the event of your death or total disablement, CreditShield® will pay off your entire balance up to $30,000.
Eligibility
If you're under the age of 60 and hold a Citi Credit Card or hold a Ready Credit account you are eligible for this affordable protection with guaranteed acceptance and no medical examination or questions.
Benefits
For each month that you have a $0 closing balance, you don't have to pay any premiums!
