Overview of Citibank Citi Rewards Credit Card
Citibank is one of the largest foreign commercial banks in operation in the Philippines. The bank can trace its roots in Philippines back to 1902. Since then, Citibank has grown to become one of the largest foreign commercial banks in terms of assets, profitability, and revenue. Citibank offers a range of banking products in the Philippines such as corporate banking, consumer banking, and treasury services. Among the various products offered under the consumer banking arm of Citibank, their credit cards and the Citi Rewards credit card in particular is a popular and often sought after choice. This card offers a host of rewards and benefits to the cardholder.
Citi Rewards Card Promotional Offers
- Citibank offers new to bank customers a promotional offer wherein they can get a free Fitbit Charge 2 upon having their online credit card application approved. The offer is valid till 30th April 2017.
- Cardholders new to Uber can get free rides up to P250 when they use the promo code NEW2UBER and use their Citibank credit cards as the payment option. The offer is valid till 30th June 2017.
- Cardholders can get an 8% discount on hotel bookings made on Expedia.com. The offer is valid for bookings made within 30th October 2017 for travel periods within 31st March 2018.
Features and Benefits
- The card earns reward points on every expense charged to it and earns accelerated reward points at select outlets.
- The cardholder can use the points accrued on the card to make payments at over 1,000 stores across the country.
- The cardholder can get access to a wide range of dining and travel privileges globally through the Citi World Privileges facility.
- Purchases of at least P3,000 on a single receipt can be converted into affordable instalments using the Citi PayLite instalment plan. The plan converts purchases into instalments with 0% interest and has tenure options ranging from 3, 6, 9, 12, 18, to 24 months.
- The card earns reward points on every expense charged to the card. The card earns reward points at the rate of 1 reward point for every P30 charged to the card on qualifying retail purchases.
- The card earns 3 reward points for every P25 charged to the card at select shopping and dining merchant outlets.
- Reward points can also be converted into airline miles or Cebu GetGo points.
- Points accrued can be used to pay monthly statements. The rate of conversion is 10 points for P1.
- All Citibank Credit cards come equipped with the Citi Chip Protect. This feature is a chip on the card that encrypts vital data and prevents the data on the card from falling victim to credit card cloning wherein the vital information can be copied and transferred onto fake cards that can be used for fraudulent transactions.
- Citibank cardholders can opt for the Citi Card Protection Plan which offers high cover for cases of unauthorised transactions and theft of identity. The cover provided is as high as P40,000 per claim and an annual cover of up to P400,000 (P200,000 for fraudulent transactions and P200,000 for identity theft).
- The premium for the policy offering a maximum cover of P400,000 is an affordable P895.
- The cardholder must have attained the minimum age of 21 years.
- The applicant can be a Filipino resident or a permanent resident with a valid Philippines billing address.
- The applicant must have postpaid landline connection or a postpaid mobile connection.
- The applicant must earn a minimum annual income of P1,000,000.
The applicant must submit certain documents at the time of application.
For salaried applicants
- A copy of the latest BIR Form 2316.
- A copy of the latest ITR which should be duly stamped as received by BIR
- A copy of the certificate of employment disclosing number of years of service and breakdown of compensation.
- A copy of the latest payslip dating back at least 3 months.
For self-employed applicants
- A copy of valid ID.
- A copy of the business registration certificate.
- A copy of the latest ITR and W4 with the BIR stamp.
- A copy of the last audited financial statement stamped as received by BIR
- A copy of the latest credit card statement from other banks.
For foreign applicants
- A copy of the applicant’s passport and visa.
- A copy of the applicant’s valid work permit with one year of validity and active during the time of application.
- A copy of the letter immigration certificate of residence and a copy of the Alien Certificate of Residence with permanent status.
Fees and Charges
|Annual fees||P2,500 for principal credit card and P1,250 for Supplementary card.|
|Effective rate of interest (Monthly)||The EIR on a monthly basis for the card is 3.50%.|
|Cash Withdrawal fee||P500 or 3% of the amount withdrawn, whichever is higher. An additional fee of P500 is charged if cash withdrawal is made over the counter. The monthly EIR on cash advances is 3.64%.|
|Minimum monthly payment||P500.|
|Foreign Exchange Conversion rate||Foreign Currency purchases are converted into Pesos and a charge of 3.525% is levied on the converted amount.|
|Late payment fee||6% of the minimum amount or P500, whichever is higher.|
|Retrieval of charge slip||P250 for every instance of charge slip retrieval.|
|Card replacement fee||P400 for every instance of card replacement.|
How to Apply for Citibank Rewards Card
You can apply for a Citibank Rewards credit card through the following ways:
- Applying online: New or existing Citibank cardholders can get the Citi Rewards Credit card by submitting the online application forms available on the Citibank website. This paperless process involves the borrower having to fill out the application form and submit it along with the supporting documents required.
- Applying through a Citibank branch: Borrowers can also get the credit card by visiting any of the banks’ participating branches and filling out the necessary application forms. The borrower will have to carry with them any supporting documents pertaining to their identity proof or proof of income.
How to Report Stolen Cards
Cardholders must report any loss of card immediately. If the card has been lost or stolen, cardholders are required to report the same by calling the Citibank Customer Care Hotline. Cardholders will be held liable for all purchases made using the card prior to reporting of the loss or theft of the card.