Citibank ready credit

Discussion in 'Travel Insider Tips' started by arun, Nov 13, 2003.

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  1. arun

    arun Member

    Sep 5, 2002
    Citibank has a product called Ready Credit. It is really an unsecured line of credit with cheque book and ATM card.
    If you apply and get approved, you get 4000 points bonus points. Visit QFF site and look under financial services partners.
    No fees. Pay interest only when you use the facility.
    there is a special form that require you to write your QFF number. Make sure that you use that form.

  2. wleong

    wleong Intern

    Jan 26, 2003
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    Be warned.....I applied for one of these accounts last year, it took Citibank around 8 months and a large number of phone calls, emails and letters chasing them to credit the 4000 points.

    They still failed to return my original documentation.

    Since then I have closed off the account without a single transaction.

    Good luck if you decide to open one.
  3. arun

    arun Member

    Sep 5, 2002
    Thanks welong for that warning. I am planning to apply in about three months time. I will let you know how I go with that.
  4. alien

    alien Member

    Nov 6, 2002
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    They sent me an application and I ripped it up. I'll just stick to Altitude Gold Visa atm i think
  5. Davo

    Davo Newbie

    Nov 26, 2003
    Last year I signed up to Ready Credit as part of a Diners Club promotion -- got a cheque book and card as well as a bottle of Moet. :)

    It is a really convenient line of credit like they say, just write a cheque and off it goes. There are no strings attached, however they do charge about 5% or 10% of the outstanding amount as the minimum monthly payment, so make sure you know what you're getting in for.

    The major downside of Ready Credit is that the interest rate is 14.99% pa after the honeymoon period, which is quite high when compared to other credit you can obtain.

    The introductory offer was something like 6.5% pa interest for the 1st six months, this was really good. Once they jacked up the interest rate, I stopped using it.

    Can't say I experienced a delay in processing my Ready Credit application, but I have had other delays with other Citibank products, Virgin CC, etc. so nothing new.......

    Caveat emptor!!
  6. creditcardman

    creditcardman Junior Member

    Dec 18, 2006
    The ready credit looks like a great card for funding personal projects and this site ranks the citibank ready credit card as number 2. I'm not sure if it deserves such a high rating but for the amount you can borrow $25,000 it has a really good interest rate 12.99% when compared to others.

    I applied over 2 weeks ago and received a phone call yesterday to verify my applicaton then they said it will go into the review process. Seems to take a while, other cards seem to be a bit quicker
  7. NM


    Aug 27, 2004
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    I get monthly offers to increase my borrowing limit to well over $30K on my Ready Credit account. I just tear them up and bin them :p . So $25,000 is not a hard limit.

    By the way, I have never used more than about $500 credit at any one time, so no need to have a limit well over $30K :shock: .

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