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Citibank Ready Credit

Citibank Ready Credit

2.1 from 36 reviews · View Statistics

Reviews

  • Transparency
    1.5 (8)
  • Customer Service
    1.9 (8)
  • Loan TypeFixed Rate (1), Line of Credit (5) and Split (1)
  • Application Process
    1.9 (7)
  • Timeliness
    1.6 (7)
  • Loan Term1 years
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Shaz

ShazFrenchville

  • 2 reviews

Hidden charges

published

Opted for the 0% p.a citi quick cash. Didn't realise hidden away in the fine print there are principal plan charges. They took over $400 3 days after giving me the money then within the first 3 months had racked up $629 in principal plan fees even though I'd paid $1500 back on it already, according to them I had only paid off $450 in the end, daylight robbery. I have now cancelled my citi account and will NEVER bank with them again, thieves!!!
Also, there is no way of checking amounts owing for citi quick cash on the app.

Transparency
Customer Service
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Dee

DeeCentral Highlands and Goldfields, VIC

  • 21 reviews
  • 6 likes

Fixed Payment Plan - great product

published

I've used the fixed payment option/plan for quite a few big ticket items and I find the fixed payment much easier to budget than a balance on a credit card. This is a loan within your credit limit. Rates have ranged from 0% to 11.99% so still less than a credit card balance. It works well and is great for emergencies. I've never had an issue with the bank. They do ring to offer other products but I have actually blocked the numbers and just do it all online. Money in the bank in a few days. They have introduced a fee upon issuing the money but it's all in the terms and conditions. The payment plan doesn't affect any daily transactions. It is a fixed payment each month.

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Kat V.

Kat V.

  • 2 reviews
  • 1 like

Stay away from them!!

published

My partner got phone calls telling him that they have a new plan for him, it was the "best deal" and the repayments would be only $360 a month what these thieving animals fail to mention is that this is on top of already existing plans present on the card, we currently now have FOUR different payment plans each with interest rates ranging from 7% to 17%!!! We asked them to roll it over to one plan but have declined. We asked to speak to a manager they wont put us through, customer service calls but no manager. They ignore your requests and even hang up on you. If I wasn't civilised I would be using colourful language to describe them.

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Jeff Luo

Jeff LuoSydney, NSW

  • 2 reviews
  • 1 like

Citi ready credit: The worse service in this planet!

published
Transparency
Customer Service
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Mzlink

MzlinkSydney Surrounds, NSW

  • 3 reviews
  • 1 like

Ready Credit wrought - intrest is charge at time of purchase

published

I have used for several years and used for my day to day purchases. I pay the total due monthly however I was seeing interest charged. I called several times over the months and they credited the amount. I was informed today that interest is charged at time of purchase and even though I paid the balance monthly, there are no interest free days. Meaning if I spent $5 then I’d get interest of .50 cents. Wrought. I will pay the card off today and look for a honest provider that makes T&C transparent

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Scott05

Scott05South East Queensland, QLD

  • 9 reviews
  • 5 likes

1 day late and they'll hound and harass you with phone calls

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Dilip G

Dilip GSydney, NSW

  • 3 reviews
  • 1 like

Citi Ready Credit. Big No. Worst Experience Ever

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Lee V.

Lee V.South East Queensland, QLD

  • 2 reviews
  • 1 like

Get a cheque or pay to get my money !!

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Sanach

SanachGreater Melbourne (Metropolitan), VIC

  • 5 reviews
  • 1 like

Easy approval and fast cash transfer

published

Applied for citibank's ready credit. Got the approval in 2 days and card sent to my home in 5 days. Asked for cash transfer and was sent a cheque to my home. Nothing complicated

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Works as advertised

published

I applied the ready credit with citibank and got it approved in 2 days. Was sent a card in another 5 business days. After activating the promotional interest rate, the amount request was sent through as a cheque.

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Nathan L

Nathan LSydney

Works as described - read the PDS!

published
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I have had an account for years, I have never had a problem. Great service, great options, easy

published

Very happy with the options, service and product. Easy transaction, helpful and knowledgeable staff. thank you for ongoing professional service

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Miona

MionaSydney

  • 14 reviews
  • 24 likes

Great product if used correctly

published
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MJ K

MJ KAdelaide

  • 29 reviews
  • 24 likes

Dodgy online application system

published

I tried to apply for their personal loan online. During the online application, there was a system error. The system said I need to try it later again. I tried again but the system said 'Thanks for completing your application'.
I contacted Citibank. They said their system already checked my credit file in the second step even if I didn't final confirm. Their system check the credit file in second step even if we don't submit application.
Most lenders generally check the credit file when we submit application. But, Citibank checks the credit file prior to the final submission. All people must be careful for their system. You may have unnecessary credit enquiry.

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Disappointed

DisappointedInverell NSW

  • 3 reviews
  • 8 likes

Citibank redicredit product is not suitable for everyone, only for emergencies

published
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Alex

AlexSydney

Intrusive Validation Process; Terrible Customer Service

published

Citibank is generally poorly reviewed but so are many financial services companies. Although I know a lot of Australian institutions charge excessive fees and have noncompetitive terms, Citi distinguished themselves by being unprofessional. They took many weeks to process my application, contacted my employer without consent and reduced the original pre-approved amount (by a stupidly small amount). They called day after day (work and home) even after I had decided not to choose them.

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Leila

LeilaSouth East Queensland, QLD

  • 3 reviews
  • 3 likes

Re drawing repayments from Credit available!!!

published

Fixed Payment Options ,,, they have done this to me for the 3rd time, I can’t figure out I pay my dues on time, actually very advance,
Now again they re draw again the repayments that’s due by November 16, so instead of increasing the available credit balance, it decreases , the person I talked to says it generates automatic , and so I said u mean u took it out already from the credit available, and still have to pay the amount on the due date... ? Is that fair , it feels I have been ripped off, and u have to pay back the money they redraw from the account... ??? What a silly thing to do, I never can ever believe it,,I’m going to the Ombudsman and have this sorted. It’s like double dipping instead my balance account reduced,,it went up

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Frogman

FrogmanBrisbane

Fraudulent Bank

published

I'll keep this simple. You think you are getting a low interest loan but instead a high interest credit card. Every bad forum that people have put through is true. So be careful and dont get trapped. Ombudsman needs to do something about what's this bank is doing.

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Kitty_M

Kitty_MBrisbane

  • 3 reviews
  • 7 likes

Worst customer service. Ever.

published
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Drew

Drew

  • 4 reviews
  • 1 like

This is the dodgiest product you can find

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Questions & Answers

Vinod K.

Vinod K.asked

what should be the cibil score to apply for citibank ready credit limit as I am having a corporate salary account with Cibi bank?

No answers
cate

cateasked

can citi ready credit be transferred to another credit card provider at 0% interest?

1 answer
Lia
Lia

Short answer, no. Citibank Ready Credit, despite the name, is not a credit card. It works more like a personal overdraft account. Unfortunately only true credit card balances can be transferred onto a balance transfer credit card account.

I know this as I recently tried to balance transfer to my usual financial institution, and after going through the entire application and approval process, their system rejected the Citibank card number to transfer the funds onto as it is not a valid credit card.

vani

vaniasked

Hi I need some information regarding ready credit.. My question is how much is interest rate and how to return? Is it as on monthly basis or how can you please help me on this.

1 answer
fimamu10
fimamu10

"You can borrow funds at the 7.9% p.a. rate by a BPAY Balance Transfer, or by a cheque. This cheque will appear as a Balance Transfer (BT) on your statement. The 7.9% p.a. interest rate applies to balances transferred with this offer at point of application and cheques-to-self with this offer within 90 days of Account opening. Payments are applied to BT amounts before Cash Advances and retail purchases, and if your Account has more than one BT, the BT at the lowest interest rate will be repaid first. Transferred balances will be repaid first before establishment fee which attracts interest at the standard variable rate. At the end of the Balance Transfer period, the interest rate on any outstanding transferred balance will revert to the Citi Ready Credit standard variable rate, currently 19.99% p.a. Interest rates are variable and subject to change. This information is current as at 16 December 2016. Offer ends 31 March 2017. Offer may be extended."

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Details

CategoryPersonal Loans
Interest Rate7.90% p.a.
Monthly Fee $0.00
Application Fee $199.00
Repayment FrequencyMonthly

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