Flexible finance to fit your lifestyle
Personal Credit gives you a ready source of easily accessible funds to help you manage the cost of living with maximum freedom and convenience.
At just 14.5% p.a.1 you have access to an affordable ongoing line of credit to fund anything from school fees, educational costs, medical bills to home furnishings. The beauty of Personal Credit is that you have the freedom to repay however it suits your income flow and redraw at any time up to your credit limit.
You can apply for up to $30,0002 and once approved you can access your funds in a variety of ways, to suit the way you want to use it, including ATM withdrawals, Visa Debit Card and a personal chequebook.
Personal Credit gives you the flexible cash flow you need to make the most of life, so apply online today.
Personal Credit - economical, flexible and accessible finance to suite your lifestyle:
- A low rate of 14.5% p.a.1
- Credit limit up to $30,0002 for any purpose, subject to credit criteria
- No fixed repayment terms3, so you can repay however it suits your income flow
- A flexible redraw facility allows you to withdraw again and again without re-applying
- Access your funds to suit the way you want to spend it:
- Visa Debit Card for ATM cash withdrawals with no cash advance fees4
- The Visa Debit Card can also be used for convenient in-store or online purchases
- Personal chequebook can be used to pay accounts where cheque payment is the most convenient option
Value added benefits
Personal Credit gives you a range of generous exclusive privileges, including:
- Citibank Dining Program - enjoy a free bottle of award winning wine every time you dine and pay using your Citibank card at hundreds of partner restaurants across Australia6
- World Privileges - offering you a range of worldwide discounts7
- Citibank Travel Program - giving you access to exclusive holiday packages8
- Access to exclusive Visa Entertainment offers9.
Shop with confidence and security
Personal Credit gives you complimentary purchasing security10 if you access your loan funds by using the Visa Debit Card attached to your account:
- Purchase Cover Insurance - protection against loss, theft, or accidental damage over a wide range of new personal goods purchased anywhere in the world with your Visa Debit Card
- Extended Warranty Insurance - extends the warranty on personal goods
- Guaranteed Pricing Scheme - if an item you purchase with your Visa Debit Card later goes on sale elsewhere, you may be eligible for a refund of the price difference. Conditions apply.
Personal Credit gives you the freedom to manage your finances your way.
Personal Credit is the low-cost personal cash management facility designed to fit your busy lifestyle and your need for easily accessible credit finance.
Use Personal Credit as your ready source of back-up funding to manage living costs and any unexpected expenses, such as school fees, car service and insurance premiums. The flexible repayment facility means you can make repayments whenever it suits your income flow.
Equally, you can use it to make lifestyle purchases, such as home improvements, furniture and appliances, a car, or even a holiday getaway for the family.
Product Flexibility
| Standard Interest Rate | 14.5% p.a. |
| Interest calculated | Daily |
| Loan amounts | $2,000 - $30,000 |
| Loan term | Revolving |
| Security | Unsecured |
| Insurance | Card Protect |
Qualification
| Minimum income | $35,000 |
| Minimum Age | 18 |
| Additional Cardholders | Up to 1 |
| Additional Cardholder Minimum | Age 16 |
Manage your Account
| Repayment frequency | Monthly |
| Ability to make additional repayments | Yes, at no charge |
| Minimum repayments | The greater of $30; or the sum of the interest charges for the Statement Period, plus 1% of your Closing Balance, plus any billed late payment fees as at the end of the Statement Period. |
| Repayment methods |
|
| Lump sum repayments | Yes |
| Increase regular repayments | Yes |
| Access funds |
|
Fees and Charges
| Annual fee | $99 |
| Establishment fee | $695 |
| Monthly Fee | $0 |
| Late Payment Fee | $10 every seven days until the Payment Due is made |
| Early termination fee | $0 |
| Redraw fee | $0 |
You can apply for a Personal Credit if you meet the following criteria:
- Are at least 18 years of age
- Have a good credit rating
Lenders look at a range of factors when they consider your credit application. These may include:
- Your employment history.
- Your monthly income.
- Your current expenses (including existing debt repayments such as home loan, personal loans etc).
- Home ownership.
- Whether or not you have applied for - or been refused credit, with other lenders.
The following steps can help to keep your credit bureau file healthy:
- Fill in credit application forms consistently. For example, always entering your name the same way will help to reduce errors in your file.
- Keep credit applications to a minimum. Applying to a large number of lenders - especially if your applications are rejected may imply to potential credit providers that you have credit issues.
- If your file shows any outstanding credit defaults, repay them if you can, and ask that your file be amended. The default will still be listed, but will no longer appear as unpaid.
- Always inform credit providers when you move. This way, bills will arrive on time - letting you pay on time and maintain your good credit bureau file.
- Pay all your bills on time, unpaid utility and phone bills can affect your credit rating.
- Even if your credit bureau file is imperfect now, it is important to manage credit wisely in the future. Your credit bureau file can improve over time.
- For more tips on credit or managing money, please visit www.usecreditwisely.com.au
- Earn taxable income of $35,000 per year or more
- Are a permanent Australian resident.
You will need the following information to apply online:
Your personal details
- Your contact details
- Driver's licence number (if you have one)
- Current residential status (and previous residential details if you have been at your current address for less than 3 years)
- If renting or boarding, your landlord or real estate agent's details
- Contact details of a relative or friend not living with you.
Your financial position
This information allows us to understand what you can afford to repay. To apply, you'll need to provide information about your current financial position, including your gross annual income, your total monthly income and expenses.
If you're self-employed, we'll need to know where you work, how much you earn, as well as your accountant's details.
- Your employer's address and switch telephone number (as listed in the White Pages)
- Annual and monthly income (before and after tax)
- Contact details for your accountant if self-employed
- The value of your home and car, if applicable, and any other assets
- Types and amounts of other income (e.g. rental income)
- Details of your main expenses, including the current balances owing on your Credit Cards, loans and investment mortgages.
One or more complimentary insurance* products may be linked to your eligible account. The table below is an overview of the complimentary insurance products linked to credit accounts:
| Guaranteed Pricing Scheme | Purchase Cover Insurance | Extended Warranty | |
|---|---|---|---|
| Citibank Ready Credit | |||
| Citibank Personal Credit | |||
| Citibank Ready Credit - Fixed Payment Option |
Guaranteed Pricing Scheme enables you to receive a refund of the price difference when you purchase in-store, using your eligible credit account, an eligible item which later goes on sale. Conditions apply.
Purchase Cover Insurance provides 3 months of free insurance against loss, theft or accidental damage over a wide range of new personal goods purchased anywhere in the world, where the purchase is charged to the cardholder's eligible credit account.
Extended Warranty Insurance extends the manufacturer's expressed Australian warranty on personal goods purchased, provided the purchase is charged to the cardholder's eligible credit account.
Real help when you need it most
CardProtect provides easy, low cost insurance cover to assist you in meeting your regular monthly repayments on your credit account in the event of:
- your total and temporary disablement;
- your redundancy/resignation; or
- a listed life event.
CardProtect also pays the outstanding balance on your credit account up to a maximum of $50,000 in the event of your death, or up to $100,000 if death is as a result of an accident.
Face life's challenges with confidence
There's nothing holding you back when you know you have a plan in place to help protect your financial security from the all too common occurrences of serious illness, accidental injury or the loss of your job. With CardProtect looking after your credit account repayments, you can rest assured that your lifestyle is protected and your family is looked after, even in the tragic event of your death.
CardProtect costs a low $0.59 per month per $100 of your credit account's closing balance. You can relax knowing your premiums are automatically charged to your credit account each month.
How to purchase CardProtect
- Print the CardProtect application form (Adobe PDF, 254kb)
- Call 13 24 84 and press 0 to purchase over the phone (no forms to fill out).
Eligibility
You may be eligible for cover if you:
- have a valid Citibank credit account or revolving credit account
- are aged 18 years or older and less than 64 years of age; and
- are an Australian citizen or permanent resident of Australia.
If you have any enquiries, please call CitiPhone Banking on 13 24 84, 24 hours a day, seven days a week.
Terms and conditions apply and are available upon request. Fees and charges apply. Credit criteria apply.
Applications may not be accepted if you have been approved for another Citibank offer in the last nine months.
Allow up to 10 working days to process your application. To process your application, Citibank will need to verify your identity and income. To verify your identity we will ask you to confirm details provided on your application. Please provide a contact telephone number that will be easy for us to contact you. Please notify your payroll department or accountant (if Self-employed) to ensure that they are willing to confirm your income details.
- The Citibank Personal Credit standard Annual Percentage Rate is currently 14.5% p.a. Interest rates are variable, subject to change and credit criteria. The interest rates are current as at 1 September 2012.
- A credit line of between $2,000 and $30,000 will be assigned based on our credit criteria, your credit rating, and subject to confirmation that you earn a minimum of $35,000 per year.
- Minimum repayments apply.
- Currency conversion fee applies to transactions made in a foreign currency. Other service fees and charges including late payment fee and dishonour fee may apply.
- $69 establishment fee will be debited to your Account on the first use of your Account (including Card activation). This fee will appear on your first statement of Account.
- Citibank's Dining Program is operated by Pinpoint Pty Ltd ABN 49 002 693 656 and Zenith Wine Agencies Pty Ltd ABN 66 128 399717. Please visit citibank.com.au/dining for important information about how to use this program to receive a free bottle of wine.
- World privilege payment must be made using a Citibank Credit or Visa Debit. Refer to citiworldprivileges.com for up-to-date offer details.
- Citibank Travel Program is operated by Pinpoint Travel Group Pty Ltd. Licence No. 2TA002974. Visit citibank.com.au/lendingtravel for details.
- Visa Entertainment Offers supplied by Visa. Visit visaentertainment.com.au for details.
- Extended Warranty Insurance, Purchase Cover Insurance and Guaranteed Pricing Scheme are provided automatically to cardholders under a master agreement between Zurich Australian Insurance Limited ABN 13 000 296 640, AFSL No. 232507 and Citigroup Pty Limited, and are subject to Terms and Conditions and exclusions available at www.citibank.com.au/complimentaryinsurance. An excess applies to Purchase Cover Insurance.
© 2013 Citigroup Pty Limited ABN 88 004 325 080, AFSL No. 238098, Australian Credit Licence 238098. Citibank® and Arc Design® are service marks of Citigroup Inc.