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| Home>Lending>Ready Credit FAQs |
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| We're here to assist you in finding the information you need about Citi Loans. You can choose one of the options below or for general enquiries, you can browse through our Online Service Desk, email us , or contact us on 13 24 84. We're available 24 hours a day, seven days a week. |
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 General |
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 What does Ready Credit offer me? |
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| Ready Credit offers you a flexible line of credit giving you the funds you need, when you need them. You only have to apply for a Ready Credit account once, and you can use it again and again on whatever you want. You'll get an ATM/EFTPOS card and a personalised chequebook (cheque book on request). |
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| What is Credit Repayment Insurance? |
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| Credit Repayment Insurance is designed to protect your Citibank credit account repayments in the event you cannot make them. |
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| Citibank offers Credit Repayment Insurance to assist you in meeting your regular monthly repayments on your credit account in the event of your: |
- illness or injury
- unemployment
- death
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| Our Credit Repayment Insurance products provide you with a choice of benefits such as: |
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- Life Events Benefit - receive a lump sum payment directly to your credit account should you experience any of the following:
- Marriage/ de facto union
- Birth or adoption of a child
- Purchase of a new home
- Divorce or separation
- Death of a partner or spouse
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- Price Protection Benefit - shop with confidence knowing you always pay the lowest price.You don't have to wait for a sale to ensure you are getting the best price - we will pay you the difference if the price goes down:
- If you purchase an item with your Citibank credit account
- The exact item is reduced by $10 or more within 180 days of your purchase
- The price is reduced at the store of the same name
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| Credit Repayment Insurance only costs a low 59c per month per $100 of your Citibank credit account's closing balance. |
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| You are guaranteed cover if you meet the eligibility criteria. |
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| To Find out more about Citibank's Credit Repayment Insurance products |
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| Application Process |
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| Who can apply for a Citi Ready Credit? |
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| You must be a permanent Australian resident, over 18 years of age, earn more than $35,000 per annum and have a good credit rating. If an existing Citi Credit Card or Personal Loan customer, have held your account for at least 9 months. |
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| Is there a limit to how much I can borrow? |
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| Initially you'll be given a credit limit based on your income, what you spend each month and Citi credit criteria. This will be up to $30,000. Once you've been a Citi customer for 9 months, you can apply for a credit limit increase that will be assessed according to Citi credit criteria. |
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| What should I put in the 'Your Financial Position' section? |
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| This information is used to calculate what you can afford to pay back monthly by taking into account your existing financial commitments. |
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| You will need to provide your: |
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- Gross annual income (this is verified by Citi with your employer or your accountant if you are self-employed)
- Total monthly income
- Total monthly expenses
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| This information will be used to calculate your monthly disposable income that may be used to service your Ready Credit account. |
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| What can I do to speed up my Ready Credit application? |
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| Citi aims to ensure you have your Ready Credit application processed as quickly as possible. To assist us in doing this you can: |
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- Provide a contact telephone number that will be easy for a Citi to contact you on if required.
- Notify your payroll department or accountant (if self employed) to ensure that they are willing to confirm your income details when we call to verify these details.
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| After submitting my online application, how soon will I get my Citi ATM/EFTPOS Card? |
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| You will receive notification via the post of your application status. If your application has been successful, you will normally be ready to use your account within 10 working days. |
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| If you are a new customer to Citi you will receive a Citi ATM/EFTPOS Card at this time. If you are an existing Citi customer and already have a Citi ATM/EFTPOS Card linked to your existing account, please call us on 13 24 84 for assistance. |
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| After submitting my online application, how soon will I get my Citi Cheque book? |
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| Are there any establishment or ongoing Ready Credit account fees? |
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| Ready Credit offers a low $69 establishment fee. However there are no annual, monthly, cheque, transaction or cash advance fees, so it costs you nothing to maintain your account. Currency conversion fee applies to transactions made in a foreign currency. Other service fees and charges including late payment fee and dishonour fees may apply. |
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| Can I have my Ready Credit account in joint names? |
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| A Ready Credit account must be held in one name. However, you can give another person access to your account. Complete their name and date of birth in the Optional Additional Signatory section of the online application form. We'll need you to ensure that this person signs and returns their signature Card to us, along with any additional identification we request before an Additional Card can be sent. |
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| Who can I add? |
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| You can extend an additional CitiCard to your Ready Credit account to one other person. |
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| Person must be your husband or wife, partner or child (over 18 years of age). |
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| To request an additional cardholder for your Ready Credit account, please call us on 13 24 84. |
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| Your Account |
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| How do I maximise/increase my credit limit? |
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| You can request a credit limit increase by either calling CitiPhone on 13 2484 or visiting www.citibank.com.au and logging on to Citi Online |
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| Before you request an increase of the credit limit of your Ready Credit account, ensure you have the following information: |
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- The limit increase that you would like
- Your current income per annum (after tax)
- Your monthly net income
- Your monthly expenses including rent/mortgage, loan repayments (car, boat, Credit Cards etc), personal living expenses (food, electricity, phone, gas, water etc), rates/body corporate and any other financial commitments.
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| Your disposable income (income minus expenses) |
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| In order to speed up the processing of your credit limit increase, if you have had a change/increase in income please have a copy of your current pay slip or most recent Tax Assessment notice (if self-employed) ready. |
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| Can I manage my Ready Credit account online? |
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| Yes, you can create an online User ID that will give you access to a variety of online account features ranging from paying bills, transferring funds to requesting loan insurance and increasing your credit limit. |
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| What do I need to do to access my account online? |
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| To access your account online just follow these easy steps outlined below: |
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- Click on the "Sign on to Citi Online" button on www.citibank.com.au. You will be taken to the sign on page
- On the sign on page, click the "First time here? Create your user ID" button
- To identify and authenticate yourself, enter
- Your Card number
- Your ATM PIN using your mouse via the pop-up keypad
- Your account number
- Then click the 'Continue' button
- You will need to create your own user ID. This can be whatever you like although it must contain 6-20 characters
- Create your own password by using the pop-up keyboard. You will need to repeat this step to confirm your password then click "Continue".
- To provide you with an extra level of security, select three security questions and enter three answers you will remember. Every time you sign on to Citi Online, you will need to answer one of these questions
- Read through the Citi Online Terms and Conditions and select the "I Agree" button before continuing
- Congratulations, your registration is complete. Click on the "Proceed to Citi Online" button to begin
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| How often do I have to make repayments? |
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| We will send you a statement requesting a minimum repayment every month by a specific date. The minimum monthly repayment is the greater of: $30; or the sum of 1% of outstanding balance plus interest plus late fees. |
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| Non-payment may result in late fees being charged and the suspension or cancellation of your credit facility. |
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| Are there penalties for early repayments? |
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| No, there are no penalties for early repayment. Ready Credit is a revolving line of credit, which means there's no fixed time to pay off your account, and if you do, you can use your credit limit again and again without having to re-apply. |
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| What if I have trouble making my repayments? |
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| If you are having difficulty making the required payments on your account (financial or otherwise), call us on 13 24 84. Ask to speak to a Collections Department consultant and they will assist you in meeting your Citi Ready Credit repayments. |
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| Can I transfer funds from another account? |
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| Yes, you can get your repayments under control by consolidating your other loans and Credit Card debts with a Funds Transfer*. You can request a Funds Transfer be either calling CitiPhone or through the My Offers section online. |
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| You can transfer as little as $500, simply complete the Funds Transfer request to transfer your outstanding balances from other non-Citi credit or store Cards to your existing Citi account. |
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| *The transfer will be at your Account's prevailing interest rate, as shown on your statement, which is variable and subject to change an Citi's credit criteria. |
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| Can I transfer the full balance from my other lines of credit? |
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| This will depend on the credit limit that we assign you. When you complete your application form, Citi will transfer the amounts specified by yourself, in the order nominated on your application form (accounts 1 through 3) in the whole amounts, then any part amount on the date of transfer as determined by your available credit limit. You can also transfer balances once you've opened your Ready Credit account if you still have available credit. |
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| What is FIL? |
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| You now have access to a Fixed Installment Loan (FIL) that allows you to take out a temporary loan at a special rate and pay it off in fixed installments. This extra loan is in addition to your current line of credit so it does not affect your available Credit Limit from your Ready Credit account. With a competitive interest rate and fixed payments you will get the security and added convenience of additional funds. |
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| Can I have my family or friend access my Ready Credit account? |
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| A Ready Credit account must be held in one name. However, you can give another person access to your account. Complete their name and date of birth in the Optional Additional Signatory section of the online application form. We'll need you to ensure that this person signs and returns their signature Card to us, along with any additional identification we request before an Additional Card can be sent. |
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| How do I request a Citi Cheque book if I have never had one? |
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| When you opened your Ready Credit account you will have received a Cheque book Request Form, sign and return this form and you will receive your Citi Cheque book within 5 working days. If you do not have a copy of this form, please call us on 13 24 84 for assistance. Alternatively print a cheque book request form (Loans for Existing Customers section) |
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| How do I access my Ready Credit account overseas? |
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| Wherever you are in the world, you will have instant access to your Ready Credit account 24x7 just by using your ATM Card (CitiCard) wherever you see the PLUS sign. And of course there's 24x7 internet banking, plus the back up of a dedicated customer service team just a phone call away on 13 24 84 or if calling from overseas +61 2 8225 0615. |
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The issuers of CardProtect are AIA Australia Limited ABN 79 004 837 861 AFSL No. 230043 and Great Lakes Reinsurance (UK) PLC ARBN 127 740 532 ABN 18 964 580 576 AFSL No. 318603. The issuers of CardGuard are MetLife Insurance Limited ABN 75 004 274 882 AFSL 238096 (MetLife) and ACE Insurance Limited ABN 23 001 642 020 AFSL 239687 (ACE). The distributor is Citigroup Pty Limited ABN 88 004 325 080 AFSL No 238098. This material contains general advice only and does not take into account your individual objectives, financial situation or needs, and you should consider whether it is appropriate for you. Please read the Product Disclosure Statement to decide if the policy is right for you.Credit account means any credit card or line of credit product issued by Citibank to you to which the policy applies.
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