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CitiBank 10,000 point bonus at Airports

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danielh

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Dec 5, 2003
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Hi all,

Has anyone had a look at the current CitiBank deal at the Melbourne Airport?

You can sign up there for a Fee free, 12.99% interest Visa Debit card account.

The deal is also available at places like Melbourne Central but instead of 10,000 points you get a $50 myer voucher.

I went tothe CitiBank reps and they tried to upsell me the CitiBank standard, gold and plat varieties but I just ignored them and read up on the deal I mentioned above.

FYI, you will still get 10,000 points if you go for a real card.

Anyone else do more research?

Regards
Daniel
 

serfty

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bambbbam2 said:
How can a Debit card have an interest rate of 12.99% ??
FWIW, I still have and use an old Bank of Melbourne Debit visa account (now Westpac) with a $50 credit limit. It's charged at some interest rate if you use it, not really fussed as it maight be 1 or two cents per month. Tomorrow I'll check out a statement and suss it out.
 

one9

Active Member
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Sep 14, 2005
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I have looked at the Citibank website and done a google search and I can find no information on a Citibank Visa Debit card.

Anyone have a link?

With a debit card, it would be unlikely that they would do a credit check (as you use your own funds), so if this is the case and there are no charges, you could sign up, get the $50 or 10,000 points and then cancel your card.

But the 12.99% part makes the post confusing. Is it a debit card or not?
 

ric_melb

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I suspect this is the Citibank Ready Credit Card, which is essentially a personal loan account, that includes a card. Not certain whether you can place this account into credit, and therefore essentially use it as a "debit" card.
 

mick

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ric_melb said:
I suspect this is the Citibank Ready Credit Card, which is essentially a personal loan account, that includes a card. Not certain whether you can place this account into credit, and therefore essentially use it as a "debit" card.
I think the Visa Debit card can be attached to several different Citibank account types, not just Ready Credit.

If you want a link for info on the Citibank Visa Debit card, take a look at: http://www.citibank.com.au/visadebit but there's no info on the points offer there.
 

NM

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ric_melb said:
I suspect this is the Citibank Ready Credit Card, which is essentially a personal loan account, that includes a card. Not certain whether you can place this account into credit, and therefore essentially use it as a "debit" card.
Yes, you can put the account into credit and use it like a debit card. I do just that when travelling overseas and use the card for cash withdrawals without paying any interest or fees.
 

mick

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NM said:
Yes, you can put the account into credit and use it like a debit card. I do just that when travelling overseas and use the card for cash withdrawals without paying any interest or fees.
I'm not sure whether you're aware, but as of 1 September 2006, there is going to be a 2.5% foreign currency conversion charge applied to each foreign currency transaction on Ready Credit accounts. This was not charged previously.
 

NM

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mick said:
I'm not sure whether you're aware, but as of 1 September 2006, there is going to be a 2.5% foreign currency conversion charge applied to each foreign currency transaction on Ready Credit accounts. This was not charged previously.
Yes, I am aware of that change, and will re-evaluate how this compares with other foreign currency cash withdrawals. There always was a conversion fee/commission charged, its just that it will be increasing to 2.5% which is pretty high. I am not sure what the old rate was, but suspect it was between 1.5% and 2%. Perhaps I can go back through my old statements and work it out :rolleyes:.
 

serfty

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mick said:
I'm not sure whether you're aware, but as of 1 September 2006, there is going to be a 2.5% foreign currency conversion charge applied to each foreign currency transaction on Ready Credit accounts. This was not charged previously.
the actual text is:
Foreign Currency Conversion Fee said:
2.5% of Transaction Amount of which up to 2% of Transaction Amount is payable by Citibank to Visa and/or Citishare Corporation. The total fee amount is included in the Transaction Amount shown on Your Statement.
I was going to post this but I'm not sure how to relate it to the type of transaction NM is referring to.

Perhaps I'll open a new thread..... hmmm... I did: 2.5% Foreign Currency Conversion Fee being introduced
 
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NM

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Having just checked my statement, the rates used for my US$ cash withdrawals were very close to the published exchange rate of the day. So there could not have been any more than 0.5% fee/commission charged by Citibank.

So my transactions would have cost me about $14 after the new 2.5% fee is introduced. So time to evaluate the value/benefit of keeping this account. Might be worth it just for the free cheques.
 

danielh

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Dec 5, 2003
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I am just looking forward to getting 10,000 points for essentially nothing. I am not sure if CitiBank will be doing the usual credit checks but from what i can understand of the deal while rushing to my flight is that I can get the bare minimum 'card' and get the points after 2 months once I make a purchase on it.

Anyone else manage to do more research or actually talk to those people?

Regards
Daniel
 

one9

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Ok,

It seems the "visa debit card" is for people who have readycredit.

so whilst it may be a "debit card" it is only for people who already have a credit facility "ready credit" set up.

so it is more likely the use of the card will debit your credit account.

it just makes it more easy for readycredit account holders to access their funds at more locations because they can use their card at anywhere that takes visa.
 

tanewi

Intern
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Nov 30, 2005
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Pretty poor marketing by CB re the 10k points deal IMHO, sending out school kids to pester travellers rushing to planes and then bothering to set up any details in the internet.

Saw them at Tulla today, thought to myself " wouldn't mind a piece of 10k points". Alas no further info available.

Any one actually picked up the flyers?
 

lovetravellingoz

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My wife had to go to Brisbane...so I asked to havea look.

10000 points BUT you have to pay the years membership @ $119

so more than 1 cent per point.
 

tanewi

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Nov 30, 2005
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Thanks,

You are right, more than a cent per point, however I am willing to pay 1.5c per point. We fly frequently to Jakarta, and QF is relatively expenisve (you can get to HK, for the same price) without any major (direct) competition.

Ta
 
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