Citibank Platinum Credit Card Review
Author: NightStar
Posted: Sun Nov 16, 2003 6:34 pm
Post subject: Citibank Platinum Credit Card Review
http://www.citi.com/domain/index.htm
Citi® Platinum Select® Card
Annual percentage rate (APR) for purchases
0.00% for 6 months from date of account opening. After that, 9.99%
Other APRs
Balance transfer APR: As long as first balance transfer is completed within 6 months from date of account opening, 0.00% for 6 months from date of first balance transfer. After that, 9.99%.
Cash advance APR: 19.99%.
Default rate: 27.99% See explanation below.*
* All your APRs may increase if you default under any Card Agreement that you have with us because you fail to make a payment to us or any other creditor when due, you exceed your credit limit, or you make a payment to us that is not honored by your bank.
Variable rate information
Your APRs may vary. The rate for purchases and balance transfers is determined monthly by adding 5.99% to the Prime Rate.**
** The Prime Rate used to determine your APRs is the U.S. Prime Rate published in The Wall Street Journal on the last business day of each month.
Your cash advance rate is determined monthly by adding 14.99% to the Prime Rate, but such cash advance rate will never be lower than 19.99%.
The default rate is determined monthly by adding up to 23.99% to the Prime Rate.***
*** Factors considered in determining your default rate may include the length of time your account with us has been open, the existence, seriousness and timing of defaults under any Card Agreement that you have with us, and other indications of usage and performance.
All account rates, fees, and other cost information disclosed above are subject to change at any time in accordance with applicable law and the Card Agreement that will be sent with your card.
We allocate your payments to pay off low APR balances before paying off higher APR balances. That means your savings will be reduced by making transactions that are subject to higher APRs.
Grace period for repayment of balances for purchases
Not less than 20 days if you pay your total new balance in full each month by the due date.
Method of computing the balance for purchases
Average daily balance (including new purchases)
Annual fees
None
Minimum finance charge
$0.50
Transaction fee for cash advances:
3.0% of the amount of each cash advance, but not less than $5.
Transaction fee for balance transfers:
3.0% of the amount of each balance transfer, but not less than $5 or more than $50. However, there is no fee with the balance transfer APR offer described above.
Late fee:
$15 on balances up to $100; $25 on balances of $100 up to $1000; and $35 on balances of $1000 and over.
Over the credit-line fee:
$35
• Please allow four weeks from date of submission to process a completed application.
• We may gather information about you, including from your employer, your bank, credit bureaus, and others, to verify your identity and determine your eligibility for credit, renewal of credit, and future extensions of credit. If you ask us, we will tell you whether or not we requested a credit bureau report and the names and addresses of any credit bureaus that provided us with such reports.
• To receive a Citi® Platinum Select® MasterCard®, you must have an annual income of at least $12000 and you must meet our credit qualification criteria. Your credit limit will be determined by your yearly income and a review of your credit report. You will be informed of the amount of your credit line when you receive your card. Some credit lines may be as low as $500. Please note that cash advances may be limited to a portion of your credit line.
• If you are approved for credit, you will receive a Card Agreement ("Agreement") with your card. Read it carefully for important information regarding your account. The Agreement will be binding on you unless you cancel your account within 30 days after receiving your card and you have not used or authorized use of your account. We may change the Agreement at any time in accordance with applicable law and the terms of the Agreement.
Important Notice: The information about the costs of the credit card described in this application is accurate as of November 1, 2003. This information may have changed after that date. To find out what may have changed, write us at: Processing Center, P.O. Box 15687, Wilmington, DE 19850-5687.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: NightStar
Posted: Sun Nov 16, 2003 7:07 pm
Post subject: Citibank Platinum Credit Card Review
Had accounts in the past with this company - they are quick to give high credit limits, but they are preditory in nature. They will wait until you utilize your credit limit and then send you out a change in terms for higher interest rates or require that you close the account with a balance remaining.
*** Closing credit cards when you still have a balance is a credit score killer. And will make it harder for transferring to a new lender once this happens.
In the past, calling customer service has accomplished reducing the rates again (but each time, you loose a bit of what you had before) and it is a lot of maintenance with this company having to keep an eye on them.
Author: willgator
Posted: Wed Nov 19, 2003 2:11 pm
Post subject: Citibank Platinum Credit Card Review
if your apr is above 5.99 on plat select or 8.99 on plat select divedend it is to high......
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Sun Nov 16, 2003 6:34 pm
Post subject: Citibank Platinum Credit Card Review
http://www.citi.com/domain/index.htm
Citi® Platinum Select® Card
Annual percentage rate (APR) for purchases
0.00% for 6 months from date of account opening. After that, 9.99%
Other APRs
Balance transfer APR: As long as first balance transfer is completed within 6 months from date of account opening, 0.00% for 6 months from date of first balance transfer. After that, 9.99%.
Cash advance APR: 19.99%.
Default rate: 27.99% See explanation below.*
* All your APRs may increase if you default under any Card Agreement that you have with us because you fail to make a payment to us or any other creditor when due, you exceed your credit limit, or you make a payment to us that is not honored by your bank.
Variable rate information
Your APRs may vary. The rate for purchases and balance transfers is determined monthly by adding 5.99% to the Prime Rate.**
** The Prime Rate used to determine your APRs is the U.S. Prime Rate published in The Wall Street Journal on the last business day of each month.
Your cash advance rate is determined monthly by adding 14.99% to the Prime Rate, but such cash advance rate will never be lower than 19.99%.
The default rate is determined monthly by adding up to 23.99% to the Prime Rate.***
*** Factors considered in determining your default rate may include the length of time your account with us has been open, the existence, seriousness and timing of defaults under any Card Agreement that you have with us, and other indications of usage and performance.
All account rates, fees, and other cost information disclosed above are subject to change at any time in accordance with applicable law and the Card Agreement that will be sent with your card.
We allocate your payments to pay off low APR balances before paying off higher APR balances. That means your savings will be reduced by making transactions that are subject to higher APRs.
Grace period for repayment of balances for purchases
Not less than 20 days if you pay your total new balance in full each month by the due date.
Method of computing the balance for purchases
Average daily balance (including new purchases)
Annual fees
None
Minimum finance charge
$0.50
Transaction fee for cash advances:
3.0% of the amount of each cash advance, but not less than $5.
Transaction fee for balance transfers:
3.0% of the amount of each balance transfer, but not less than $5 or more than $50. However, there is no fee with the balance transfer APR offer described above.
Late fee:
$15 on balances up to $100; $25 on balances of $100 up to $1000; and $35 on balances of $1000 and over.
Over the credit-line fee:
$35
• Please allow four weeks from date of submission to process a completed application.
• We may gather information about you, including from your employer, your bank, credit bureaus, and others, to verify your identity and determine your eligibility for credit, renewal of credit, and future extensions of credit. If you ask us, we will tell you whether or not we requested a credit bureau report and the names and addresses of any credit bureaus that provided us with such reports.
• To receive a Citi® Platinum Select® MasterCard®, you must have an annual income of at least $12000 and you must meet our credit qualification criteria. Your credit limit will be determined by your yearly income and a review of your credit report. You will be informed of the amount of your credit line when you receive your card. Some credit lines may be as low as $500. Please note that cash advances may be limited to a portion of your credit line.
• If you are approved for credit, you will receive a Card Agreement ("Agreement") with your card. Read it carefully for important information regarding your account. The Agreement will be binding on you unless you cancel your account within 30 days after receiving your card and you have not used or authorized use of your account. We may change the Agreement at any time in accordance with applicable law and the terms of the Agreement.
Important Notice: The information about the costs of the credit card described in this application is accurate as of November 1, 2003. This information may have changed after that date. To find out what may have changed, write us at: Processing Center, P.O. Box 15687, Wilmington, DE 19850-5687.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: NightStar
Posted: Sun Nov 16, 2003 7:07 pm
Post subject: Citibank Platinum Credit Card Review
Had accounts in the past with this company - they are quick to give high credit limits, but they are preditory in nature. They will wait until you utilize your credit limit and then send you out a change in terms for higher interest rates or require that you close the account with a balance remaining.
*** Closing credit cards when you still have a balance is a credit score killer. And will make it harder for transferring to a new lender once this happens.
In the past, calling customer service has accomplished reducing the rates again (but each time, you loose a bit of what you had before) and it is a lot of maintenance with this company having to keep an eye on them.
Author: willgator
Posted: Wed Nov 19, 2003 2:11 pm
Post subject: Citibank Platinum Credit Card Review
if your apr is above 5.99 on plat select or 8.99 on plat select divedend it is to high......
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 1:08 PM
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