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Citibank credit cards for february 2024

Citibank
Apply for a credit card from Citibank. On 22.02.2024 you have access to 11 credit cards. Increase your chances of getting money — fill out a multi-application with a free credit rating check.
Offers: 11
Updated:
10.02.2024
22:34
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Recommended FinScore™
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Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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300
650
1000
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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300
650
1000
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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Interest rates on credit cards in the Philippines

According to the guidelines for Bangko Sentral ng Pilipinas Circular No. 1133, Series of 2021, on the ceiling/s of interest rates and other fees charged by lending companies, financing companies, and their online lending platforms, the maximum nominal interest rate for unsecured loans is 6% per month (0,2% per day), and the maximum effective interest rate is 15% per month (0,5% per day). The caps apply to unsecured loans of no more than ₱10000 and payable within four months.

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Warning: This lender is predatory and extremely dangerous. Do not use this app for loans as they will trap you with impossible and maliciously high interest rates...
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Citibank credit cards for february 2024

Citibank offers four credit cards in the Philippines, each with a different purpose. For example, while some of them charge an annual fee, others do not. With a Citibank credit card, you can borrow money up to your credit limit to make purchases at a fixed cash limit. However, to prevent your debts from increasing, you must repay it within the billing cycle.

What is a Citibank credit card?

A Citibank credit card is accessible only to Citibank customers. It allows members who want to boost their purchasing power to access funds easily and pay later at no or minimal annual fees. You will receive redeemable points that you can use later when you use your credit card safely through the Citi payment gateway to pay for foreign transaction fees, invoices at upscale dining establishments, travel, lodging, and car rental reservations, or to shop at your preferred online retailers.

You can also earn and accrue SkyMiles using your card for travel-related transactions as well as get free access to airport lounges worldwide. If you have a good credit score, you can also pay a balance transfer fee to move your existing credit balance from another bank to your Citi credit card in installments.

How can I borrow a loan using a Citi credit card?

As long as you are the principal Citi credit cardholder, you can get a personal loan up to ₱2 million with payback terms of one to five years and approval in 24 hours. A Citi personal loan is an unsecured loan that you can use to finance your needs and repay with monthly EMIs.

To borrow a Citi personal loan, you need to follow these steps, and your application is also subject to credit evaluation and approval.

  1. You can contact the bank to find out how much credit you are eligible for if you meet all the requirements.

  2. Then, the personal loan will attract an average Annual Contractual Rate (ACR) of 26.9%, a ₱1,750 disbursement fee, and a ₱ 1.50 per ₱200 documentation stamp tax.

  3. Once accepted, Citibank will contact you to set up your method of payment. There are no origination fees or prepayment penalties if you repay your loan early.

How can I get a Citibank credit card?

You can apply for the best Citi credit cards online, over the phone, Citi mobile app, or in-person at any Citibank branch. Citibank also offers a variety of credit cards, so you can choose the one that suits your needs with the help of the bank's customer care. If you have a good credit score, you can also pay a balance transfer fee to convert your existing credit balance from another bank to your Citi credit card. However, before Citibank can issue you a credit card, you must fill out an application form and provide any other papers required, such as a certificate of employment.

Types of Citibank credit cards

Citibank provides several secured credit cards, each with its own set of features and benefits. They classify these credit cards into four categories, as follows:

Interest back cards

The Citi Simplicity+ Card, also known as Citi Simplicity+ Mastercard, is Citibank's only interest-bearing secured credit card with no annual fee credit card. You must be above 21 and make a minimum of ₱180,000 annually to be eligible for the secured MasterCard. Then, when your no annual fee Citi Simplicity Card is approved and you pay your minimum credit limit used by the due date, you get a 10% back on interest charges. It is also one of the best Citibank credit cards as it will not charge you late payment fees if you fail to pay the minimum amount by the due date. Citibank will also not charge you over-limit fees if you exceed your credit limit while using this secured MasterCard.

Rebate cards

Credit cards with rebate programs reimburse you a portion of your spending if you meet the agreed-upon spending criteria. Here are three Citi credit cards that offer refunds when you spend a certain amount on purchases:

  • Citi Cash Back Card. To be eligible for this credit card, you must be over the age of 21 and earn at least the minimum of ₱180,000 annually. Then you can receive a cashback of 6% on grocery stores purchases, 2% on Meralco bill payments made through Citibank Online, and 0.20% on all other payments including those that attract a foreign transaction fee. Not only that, but you can save up to ₱ 15,000 per year. However, the card has an annual fee of ₱ 4,500, waived for the first year.

  • Shell Citi Card. The Shell Citi card is available in gold or platinum. If you meet all the requirements for this credit card, such as being over the age of 21, earning an annual income of ₱180,000, and having a valid TIN, SSS, GSIS, or UMID number, Citibank will analyze your application and send you the type of Shell Citi Card that best suits your needs. With a gold Shell Citi card, you can get a 10% outright discount on eligible purchases like Shell Helix oil change packages and a 10% cashback on Booking.com hotel reservations, subject to an annual rebate cap of ₱10,000. On your first Shell fuel purchase of at least ₱300, you will also receive a ₱300 rebate. For a platinum Shell Citi® card, you get all the gold rewards and free ₱5,000 shell fuel rebates. You also get a 5% rebate on Shell fuel purchases, tollway load purchases, and auto repairs, accessories, and services nationwide at no annual fee.

  • Mercury Drug Citi Card. When you use this card to take care of your health, you'll receive rewards as points, where 10 points are equal to ₱1 at no annual fee. At Mercury Drug, you will earn one reward point for every ₱200 spent. You will also get three times as many points for any self-care expenditures made at hospitals, clinics, spas, gyms, and salons as well as five times as many points for Mercury Drug purchases, up to a maximum of ₱320,000. You will also gain three times points for any medical bills that attract a foreign transaction fee and get a free ambulance ride worth ₱10,000 once a year within Metro Manila. The yearly charge for the Mercury Drug Citi card is ₱2,000 for the principal card and ₱900 for the supplementary card.

Travel cards

You can earn miles by using the Citi PremierMiles Card when traveling locally or using eligible American Airlines. To be eligible for this card, you must be over 21 and earn at least the minimum of ₱360,000 per year. The annual fee for the Citi Premier Card is ₱5,000, although the first year is free.

You then earn one PremierMile for every ₱30 spent and redeem rewards for airline miles, with 1.6 Premier Miles equaling one mile and five Premier Miles equaling ₱1. These are never-expiring miles that you may use whenever you want and even gain VIP lounge access at local and eligible American Airlines. When you charge your trip tickets to a Citi PremierMiles card, you are entitled to up to ₱1 million in insurance coverage.

Reward cards

Citibank offers these reward credit cards:

  • Citi Prestige Card. Citibank provides this rewards credit card to business and leisure travelers. To be eligible for this rewards program using the Citi Prestige card, you must be at least 21 years old, have a good credit history, and earn the minimum income required to qualify, which customer service will inform you of. The Prestige Card's annual fee is flat rate Citi cash of ₱12,000, which is non-refundable and is billed on the first statement. When your Citi Prestige Card is approved, you start enjoying reward points that never expire, such as one Citi Thank You point for every ₱30 spent on meals, online shopping, and foreign currency purchases. You maximize rewards as you accumulate Citi Thank You points, which you can use to buy goods and gadgets or redeem rewards for cash credits. You also receive access to the Global Concierge Service, which has local specialists on call around the clock.

  • Citi Rewards Mastercard. It is a world elite Mastercard with a reward program for you when you shop online or order food. With this secured Mastercard, you will receive 1 point for every ₱30 spent at no annual fee. You also earn three times as many bonus points when you shop, dine, and travel with eligible American Airlines purchases. With Citi Thank You points, you may also use your points to receive cash back or purchase products and gadgets.

  • Citi Grab Card. Citibank allows you to use this rewards credit card to pay for GrabTaxi, a smartphone-based cab booking and dispatching service while earning points at ₱2,500 annual fee. To be eligible for this rewards card, the card issuer insists you must be at least 21 years old. You should earn cash at least ₱180,000 if you have an existing primary credit card and ₱250,000 if you don't. You should also have an active phone number where they can reach you easily and a valid TIN, SSS, GSIS, or UMID number before you can access this secured credit card.

    When using your Citi Grab credit card for Grab rides, you save money, lower your credit card bill as you earn bonus points because 10 Citi points equal ₱1 off your entire cost. It also offers free membership for the first year, followed by flat rate cash of ₱2,500 annual fee if this is your only credit card and ₱1,250 for the supplementary cardholder. For new Citi cardholders, when you spend at least ₱10,000 within 60 days of receiving your card, you will receive ₱2,500 in GrabPay Credits. Then, when you deposit ₱1,000 into your GrabPay wallet with your new Citi Grab card, you'll receive ₱2,000 in Grab Vouchers. You also get three times as many points for restaurants, online subscriptions, entertainment, and you get one Citi Point for every ₱30 you spend.

How to apply?

Before applying for any Citi cards, check your pre-qualification as shown below to ensure you meet the conditions.

Pre-qualifications

You must meet the following requirements before you can access any Citi cards:

  • You are over 21 years.

  • You are a Filipino citizen or a resident foreigner with a valid local Philippine billing address.

  • Your taxpayer identification number (TIN), SSS, GSIS, or UMID number is available.

  • Have a minimum yearly gross income of ₱180,000 if you have another credit card and ₱250,000 if you don't.

  • One valid government-issued ID with a photo and a signature.

  • A certificate of employment with the salary that was issued within the last two months for the employee.

  • If you are self-employed, your business's most recent income tax return.

Application process

  1. Click on Apply for Credit Cards on Citibank's website

  2. Select the credit card you want to apply for

  3. Click Apply Now.

  4. You will be prompted to answer this question: "Do you have a principal credit card with another bank?".

  5. Answer the next prompts.

  6. Fill in a Citi credit card application form and click Submit.

  7. Wait for approval.

Who is eligible for a Citibank credit card?

When you fill out the credit card registration, you must supply the relevant documentation to back up your application and also show your credit history to the card issuer. If you already have another credit card, you will need a government-issued photo ID for local Filipinos. A foreign government-issued passport or Alien Certificate of Registration issued by the Bureau of Immigration is required for resident foreigners, although it must be accompanied by one of the following proofs of local residency:

  • Immigrant Certificate of Residency (ICR)

  • ACR-I-Card with permanent Visa status or valid for more than one year

  • Visa and Work Permit or Alien Employment Permit (AEP) with a validity of over one year

  • Special Resident Investors Visa (SRIV)

  • Special Resident Retirement Visa (SRRV)

  • An employment contract or letter from company H.R. printed on company letterhead with name, position, and confirmation of term.

If you are a new applicant with no credit cards, you will also need a government-issued photo ID and proof of income. For proof of income, you may use the following documents:

  • The latest one-month payslip or bank statement from your active account displaying your one-month salary

  • The most recent income tax return (BIR 2316) with a BIR (Bureau of Internal Revenue) stamp or the signature of your employer's authorized representative.

  • The original and signed Certificate of Employment detailing your employment status, duration of service, and remuneration.

How to repay Citi credit card loan debt?

Borrowers are required to always ensure that they make their repayments on credit card loan debts. When it comes time to pay your Citi credit cards bill, do so by the due date to prevent paying late fees. You can pay your credit card account online by making one-time payments or setting up automatic payments using Auto Pay to be paid monthly on your due date. You can also pay by mail or call Citibank for other payment methods, including pay by phone.

Steps to repay

When your payment is due or if you want to use it sooner, you can pay for your credit card using the Citibank online banking website or the app. However, you cannot set up automatic payment for an instant transaction with your biller as instant payment operating rules require that customers approve each fund transfer. To make payments online via the website, follow these steps:

  1. Visit the Citibank website.

  2. Click on Log on the top right-hand side.

  3. Click on Payments and Transfers.

  4. You'll be prompted to enter a one time-PIN after it's generated.

  5. Choose whether to pay your current debt, the minimum amount due, or another sum.

  6. Check your payment information and then click Confirm and Pay.

To make payments online via the Citi mobile app, follow the following steps:

  1. Open the app.

  2. Click Log in.

  3. Select the card you want to pay for

  4. Click Pay statement to verify statement details or proceed directly to Pay to card.

  5. Choose whether to pay your current debt, the minimum amount due, or another sum.

  6. Check your payment information and then click Pay.

You can also make payments in six methods for sending payments by mail:

  • Payment using standard mail. P.O.P.O. BOX 9001037 Louisville, KY 40290-1037.

  • Express payments or overnight delivery. Citibank Express Payments, 6716 Grade Lane, Building 9, Suite 910, Louisville, KY 40213.

  • General communication Citibank Customer Service. P.O.P.O. Box 6500, Sioux Falls, SD 57117.

  • Regular Mail for the Costco Anywhere Visa® Cards. P.O.P.O. Box 78019, Phoenix, AZ 85062-8019.

  • General communication for the Costco Anywhere Visa® Cards. Costco Consumer and Costco Small Business, PO BOX 790046, St. Louis, MO 63179-0046.

  • Delivery the following day for Costco Anywhere Visa® Cards. Attention: Bankcard Payments Department, 6716 Grade Lane, Building 9, Suite 910, Louisville, KY 40213.

Pros and cons

Citi credit cards help you manage your debt, save money, and make the most of your money at no annual fee. They're available nationwide with various features and benefits so you can get the most out of your card. You can also earn miles that will allow you to enjoy VIP lounge access at specific lounges, both locally and globally. However, before applying for any Citi credit cards, you should be aware of their benefits and drawbacks.

Pros

  • You do not need to have a Citi deposit account when applying for a credit card.

  • You earn points for using your reward card, and you can redeem points for cash back or gift cards.

  • You can build your credit scores.

  • You can cancel at any time.

  • You can use the card anywhere in the world.

Cons

  • You'll have to pay late fees if you don't pay off your balance in full by the end of each billing cycle.

  • The terms of your credit card agreement may limit how much you can spend or how long you can put off paying back a balance.

  • If you don't make timely payments on time, it will negatively impact your credit scores.

  • You have to deal with the interest rates when repaying the credit.

Securities and Exchange Commission (SEC), Lending Company Regulation Act (R.A.R.A. No. 9474), and Bangko Sentral ng Pilipinas (BSP) are in charge of credit coupled with other lending laws. The laws regulate acceptable interest rates and the amount financial institutions can lend in a year. The rules also protect the borrowers from exorbitant interest rates.

The Bangko Sentral ng Pilipinas (BSP)

The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Philippines. Its mission is to promote, regulate, and supervise the banking system. The BSP's primary functions are as follows:

  • It regulates and supervises all financial institutions, including banks and non-bank financial companies.

  • It is responsible for issuing,

  • IPp, supervising, and enforcing the payment system in the Philippines, including credit cards.

  • It ensures that the country's financial system is stable, efficient, and orderly.

  • It ensures that consumers access safe and convenient means of payment through its credit card issuance program.

Securities and Exchange Commission (SEC)

The Securities and Exchange Commission (SEC) is also a regulatory body of the Philippines. It takes action against any improper business practices in the credit card industry, including refunds, fines, and suspension or revocation of licenses or permits. The SEC also supervised standalone credit card companies governed by scattered provisions found in existing laws such as the Access Devices Regulation Act (RA 8484) and the Consumer Protection Act (RA 7394).

The Consumer Protection Act (RA 7394) is one of the most important laws in the Philippines and aims to protect consumers from unfair and deceptive business practices. It also helps them acquire helpful information about their rights and responsibilities when purchasing goods or services.

On the other hand, the Access Devices Regulation Act (RA 8484) is a law that the Philippine government passed to regulate the use of access devices, including smartphones and tablets. The law was passed in 2017 and aimed to prevent fraud. It also covers all types of access devices, whether online or offline, including physical and virtual access devices such as bank cards and e-wallets. The main goal of this act is to protect Filipino consumers from being defrauded by unscrupulous merchants who use fake IDs or credit cards to make purchases online. The law also aims to prevent identity theft, fraud, and money laundering.

Philippine Credit Card Industry Regulation Law (RA 10870)

The Philippine Credit Card Industry Regulation Law (RA 10870) is a law that regulates credit card market in the Philippines. The Philippine government passed it into law in order to safeguard consumers from fraud and other scams when they divulge their card details and to make sure that all credit card transactions are legal.

The law applies to all credit cards issued by banks, financial institutions, and other entities approved by the National Payments System of the Philippines (NPS). The NPS is an electronic payments system operated by banks and they charge a processing fee for their transactions through their network.

The law also requires all credit card users to have identification and proof of address with them when using their cards.

The objectives of this act are:

  1. To provide credit card companies with a level playing field regardless of whether the card is used for everyday purchases, car rentals, food purchases to qualify for the annual hotel savings benefit, foreign transaction fees, or eligible American airlines purchases.

  2. To help credit card companies comply with the law and avoid paying fines or penalties.

  3. To help consumers get better information about credit cards.

  4. To inform people of their obligations and rights as credit card users, as well as the legal recourse they have if their card details are stolen.

  5. To protect consumers from abusive practices and unfair business practices by credit card companies.

The real cost of a Citi credit card loan

The real cost of a Citi credit card loan is based on the interest rate, the amount you borrow, and your credit score. When you apply for a Citi credit card loan, your credit score will be used to determine whether you can qualify for the loan. If you have a higher score, you are eligible for a higher Citi credit card limit.

Important! The interest rate for your loan will depend on your credit score and how much you borrowed. The higher your score and the amount of debt you have, the lower your interest rate will be.

Before you apply for a credit card, keep the following in mind:

  • The interest rate on your credit card will be higher than it would be if you used cash.

  • If you don't pay off the debt, you'll have to pay more interest than if you had used cash.

  • Your credit score will be hurt because you owe money on a credit card and don't have enough available credit to cover it with other loans or cards.

  • You can earn bonus points with your credit card on certain eligible American Airlines purchases and foreign transaction fees, so pay close attention to which purchases qualify.

Before making that decision to take a credit card loan, ask yourself the following questions:

  • How much do I need? It's important to know how much you need and if you can afford to pay it back. If you're planning on buying a house or car with your credit card, it's important to factor in the interest rates before taking that loan.
  • When will I use my credit card loan? Consider the time range to determine if you need to use a credit card or if you can save the money in your bank account and make the payment later.
  • What are my other options? If other options are available, such as cash advances from your bank account or taking out another loan, make sure you consider those before deciding if taking out a credit card loan is right for you.
  • Can I put my trust in the lending institution? When applying for a credit card, you must provide personal information. You need to be sure the institution is reliable and uses safe platforms before giving personal information because otherwise, you put yourself at risk for fraud and other identity theft crimes.

Conclusion

When you are ready to apply for a credit card, Citibank customer service will assist you in finding the best credit card for your needs. You can choose the credit cards with low-interest rates or no annual fee that best suit your needs. Along with earning credits, you can also enjoy perks such as significant discounts, free ambulance trips, and access to VIP lounges at various domestic and international airports.