Introduction: The CitiBank Rewards Credit card is for those people who love to shop and travel and make use of their credit card for these transactions frequently. This credit card will also provide you with discounts at selected partnered restaurants and the collected reward points will not come with an expiry date. This rewards credit card will come with an annual fee of Rs.1,000/- which will be later waived off if you are spending more than the amount of Rs.30,000/- annually. No joining fee will be charged on this Rewards Credit card and the rate of interest is 3.25% per month. If you are very keen on travelling and shopping, this credit card is one of the best rewards credit cards to apply for. This credit card will provide you with many reward schemes and options which will help you in spending less and earning more through reward points at the time of shopping and travelling.
A step by step guide to CitiBank Rewards Credit card benefits, features
Quick key highlights of CitiBank Rewards Credit card
- This rewards credit card will be best for the people who like to receive rewards on their travel bookings or any transactions made on shopping.
- You will be able to receive up to reward points on purchases made with a credit card at any apparel stores or departmental stores.
Waiver on annual fee
- The annual fee of an amount of Rs.1,000/- is waived off if the total amount spent is more than Rs.30.000/- per year.
- From the second year onwards, if you spend a total amount of Rs.30,000/- in one year, an annual fee of Rs.1,000/- is charged.
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Welcome reward points
- On the first spend made within the first 30 days from the date of card issuance, you will get 1500 reward points.
- On the first spend of an amount of Rs.1,000/- made within 60 days from the date of card issue, additional reward points of 1,000 will be added to your credit card.
Benefits on fuel
- The reward points which you received by using this rewards credit card can be redeemed in an instant manner in any of the 1200 Petrol stations of Indian Oil present across the country.
- One reward point will be equal to an amount of Rs.0.25/- and the minimum number of reward points required for its redemption is 250.
Benefits of in-store transactions and online shopping
- This rewards credit card will allow you to redeem reward points for any type of online purchase or transaction like movie tickets, travel tickets or even any kind of mobile services.
- The list for the websites which are partnered with Citibank will be available on the official website of the bank.
Benefits on Travel miles
- You will also be able to redeem your frequent flyer Membership miles in Air India. One reward points will be equal to 0.75 miles and the minimum points required for the redemption will be 100.
- It is always advised to get in touch with the bank before you redeeming the points to get clarity on the terms and policies.
Benefits on cashback
- People who have a CitiBank Rewards credit card will have an option to do adjustment for their reward points to the outstanding statement balance amount of the credit card. One reward points earned by using the credit card will be equal to an amount of Rs.0.35/-.
- Minimum reward points required for the redemption will be 5000. It is strongly suggested to get in touch with the customer care for understanding the cashback benefits of the card in detail.
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Citibank Rewards Credit card Credit limit
The limit on this credit card is the maximum amount of credit which you can use along with the credit card. The credit limit of the card will be decided by the bank after evaluation of the income, your capacity of repayment and a few more factors. You will be able to know about the credit limit once you receive the credit card.
Citi Rewards Credit card rewards benefits
- For each purchase of an amount of Rs.125/-, you will be able to receive 1 reward point.
- If you are spending an amount of Rs.30,000/- or more in one month, you will be able to receive 300 reward points.
- You will be able to receive 1,500 bonus reward points on the first purchase you are making by using the credit card within 30 days of the issuance of the card.
- Bonus reward points of 1,000 will be added to the credit card when you are making the first purchase of an amount of Rs.1,000/- within 60 days of issuance of the card.
- For every transaction you make at departmental stores or apparel stores, you will receive 10x reward points.
Reward points redemption of Citi Rewards Credit card
- You can consider redeeming the reward points you have collected at Indian Oil Stores. For each reward point, you will receive an amount of Rs.0.25/-. The minimum reward points which have to be redeemed is 250.
- You can also consider redeeming reward points for shopping at partnered stores of CitiBank. For each reward point, you will receive Rs.0.30/-. The minimum amount of points to be redeemed is 250. You can get the information of your reward points by using Citibank Credit card reward points calculator.
- If you wish to redeem reward points for making online shopping, you will receive Rs.0.30/- for each reward point. Here also, you should redeem a minimum of 250.
- For the redemption to be made at online travel websites, you will receive an amount of Rs.0.25/- for each reward point.
- The redemption offer for air miles will stand at one reward point will be equal to 0.74 miles. The minimum number of reward points required for redemption is 100.
- For redeeming for cashback, the rate of redemption is one reward point equals to Rs.0.35/-. The minimum reward points required for redemption is 5,000.
- You can also consider redeeming reward points instantly for the purpose of gift vouchers from premium brands.
- The redemption of reward points can be carried out in three steps like Citibank credit card reward points redemption catalogue browsing, selecting the option you desire, and placing the order by making use of your points. You can also get in touch with the Citibank Credit card customer care to know more about reward points and how to use them.
Citi Rewards Credit card fees and charges
- The joining fee will be informed by your bank when you are sourcing the credit card.
- The annual fee will also be informed by the bank at the time of card issuance.
- Fee for cash withdrawal is 2.5% of the amount which is withdrawn which would be subjected to a minimum amount of Rs.500/-.
- Fee for late payment wil bel zero if the amount of outstanding balance is up to Rs.1,000/-. An amount of Rs.450/- will be charged as a late payment fee if the outstanding balance amount is between Rs.1,001/- to Rs.5,000/-. If the outstanding statement balance amount is between Rs.5,001/- to Rs.10,000/-, an amount of Rs.700/- will be charged as a late payment fee. Any outstanding statement balance above Rs.10,001/- will be charged a late payment fee of Rs.950/-.
- Fee for over credit limit is 2.5% on the amount which is above the credit limit. The minimum amount will be Rs.500 and this amount will be excluded from charges, fees and taxes.
- Fee for cheque bounce or cheque return is an amount of Rs.500/- per cheque.
- Fee for statement request is an amount of Rs.100/- for the statements which are beyond 3 months.
- Surcharge on bookings of railway tickets is 1.85 of the value of the transaction.
- Fee for re-issuance of the card is an amount of Rs.100/-.
- Fee for payment of cash is an amount of Rs.250/- per deposit.
- Fee for payment of cash at ATMs is an amount of Rs.100/- per deposit.
Eligibility criteria required for the application of Citi Rewards Credit card
For the application of Citi Rewards Credit card, the eligibility criteria required is mentioned below
- The age of applicant of a Citi Rewards credit card should be between 18 to 70 years.
- The applicant should be an Indian Resident.
Required documentation for the application of CitiBank Rewards Credit card
- You will be required to submit address proof, identity proof in the form of Aadhaar card, PAN card, Driver’s licence, Passport information page.
- Salaried individuals have to submit salary slips of the last two months and the self-employed individuals have to submit a copy of the latest Income Tax Returns.
- Job card which has been issued by NREGA and then attested by an officer belonging to State Government.
Applicant process of Citi rewards Credit card
- You can apply for this credit card from the official website of Citibank.
- You can also apply for this card by visiting the nearest branches of Citibank.
- Once the required documentation is done successfully, you will get an acknowledgement message from Citibank which consists of the application ID. You can make use of the same application ID for track the Citibank credit card status.