Citibank Gold Card

The appeal of a gold credit card can often be more about aesthetics and prestige than features and benefits. However, when you choose a Citibank Gold credit card you can be enjoying both the prestige and the benefits Citibank have packed into their gold card deal. Read on to find out more about how the features of the Citibank Gold card work, whether they could work for you, and how to apply.

Features of the Citibank Gold Card

The appeal of a gold card such as the one offered by Citibank goes far beyond the look and impression you can make when you use it. The Citibank Gold card offers exclusive rewards and benefits for gold card holders and their families and a flexible credit limit if you meet the eligibility requirements.

Features and benefits of the Citibank Gold

card to consider in your comparisons include:

• Free international travel insurance for you and your family. When you buy your plane tickets using your Citibank Gold credit card you and your family will all be covered by extensive travel insurance no matter where you are headed. You and your family will be covered for medical expenses, cancelled flights, personal liability, and loss or damaged personal items.
• A point for dollar rewards program. Using your Citibank Gold card you will earn one point for every dollar you spend, excluding balance transfers and cash advances. You can redeem these points for gift vouchers, merchandise and you can even convert them to Qantas Frequent Flyer points, and your points never expire.
• Bonus points available for gold card holders. With a Citibank Gold card you are eligible for bonus rewards points at participating outlets and retailers. In some cases you can earn as many as 4.25 reward points for every dollar spent. Plus, if your spending qualifies you, you can continue to earn bonus points on your purchases with ongoing admission to the rewards program.
• World Privileges. On the Citibank Gold card you can still enjoy the same rewards of the World Privileges deals such as discounts, vouchers and exclusive access to restaurants, stores, travel deals and accommodation around Australia and around the world.
• A interest rate with 55 interest free days to pay. Securing interest free days on any credit card is a good deal because you can make purchases and repay them before you have to worry about interest charges bogging down your balance. Therefore, you want to choose the card with the best interest free period and a 55 day interest free period gives you almost two months to repay purchases you make on your card before you have to be concerned about interest charges. This gives you the opportunity to spend on your card while your wages for the month accrue interest in a savings account, before repaying your credit card balance at the end of the month – earning good interest and avoiding the bad.
• A annual fee and $30 for additional card holders. In exchange for the benefits of a Citibank Gold card, you are being charged a higher annual fee compared with their other cards on offer – however, you are getting higher rewards points and more inclusive features. Plus, you can add an additional card holder who can also enjoy all of those benefits for just $30 a year.
• A balance transfer offer of . A % interest rate can give you the chance to get on top of your credit card debt if you have a card which is out of control. Plus, you have a relatively short period of time to encourage you to channel as much money as you can into repaying your debt, especially since the interest rate after the balance transfer period reverts to Citibank’s cash advance rate of on any balance remaining.

How to Apply for a Citibank Gold Card

Applying for a gold card is a decision you should not rush into because the tempting rewards and inclusive extras can distract you from the higher annual fee, the higher interest rate and the higher credit limit. Therefore, before you apply for a Citibank Gold card, make sure you can afford it, and are prepared for your obligations:

• Budget for your credit limit, there is $25,000 on offer. A $25,000 credit limit is a lot for a personal credit card especially since earning the average wage of $35,000 a year which can get you accepted for a gold card, will not be enough to repay that credit limit responsibly. Instead, create a budget of what you can afford to repay each month and be aware that if you let your balance remain unpaid, it will attract interest and your new purchases will no longer be eligible for interest free days. As a result, you will be paying more and more each month as your interest compounds and that is how people get into bad debt.
• Choose between MasterCard or Visa. In Australia it is difficult to find a store, restaurant or hotel who will accept one and not the other, MasterCard and Visa are just about equal in their acceptance here. However, if you are planning to travel, consider the card you already have in your wallet to create a broader merchant base – for example, if you already have a Visa card issued from another provider, choose a Citibank Gold MasterCard so you have one of each. The features, security and protection you get from a Visa or a MasterCard are almost identical too, and the features, fees and interest rates are all set by your provider Citibank, not the merchant MasterCard or Visa.
• To apply for a Citibank Gold card you must meet the eligibility criteria. You must be 18 years or older, earn over $35,000 before tax, be an Australian resident and have a good credit rating. Your personal details, your age, your earnings, your monthly expenses and your existing credit card debt will all contribute to the credit limit you are allowed.