This credit card is a fantastic entry-level platinum card which is a lot cheaper than most of the other platinum cards available. You can save a lot of money on interest with their 2.9% p.a. intro period of 12 months on balance transfers and 11.99% p.a. – making Citibank Clear Platinum a really good choice for the long run.

Benefit of the Card’s Best Features?

The Citibank Clear Platinum credit card is a straight-forward credit card. Instead of confusing you with rewards programs, it gives you low rates and introductory deals that can help you save a lot of money over the short and the long run.

You will want to take advantage of the 2.9% p.a. on balance transfers for 12 months. This is a much better balance transfer deal than most Australian credit cards are currently offering. You also get a great low interest deal of 11.99% p.a. on all purchases. If you pay off balances in full within the 55 day interest free period, then you won’t have to pay anything extra. This card is cheap!

Aside from the low rates, there are some other nice benefits of the Citibank Clear Platinum. Travellers will appreciate the complimentary travel insurance that covers you and family members travelling with you. You can even use the 24 hour concierge service to help you make hotel reservations, book flights, or arrange airport transports. Cardholders get free purchase coverage and extended warranty too. And with a credit limit of up to $60,000, the Citibank Clear Platinum is very generous and offers more than enough flexibility.

Are There Any Drawbacks?

The biggest drawback of the Citibank Clear Platinum is the cash advance rate. At 21.74% p.a., it is slightly higher than the average rate across the market. Furthermore, if you don’t pay off your balance transfer inside 12 months, the remaining balance reverts to the cash advance rate afterwards.

Citibank Clear Platinum doesn’t have any rewards program other than its standard CitiWorld Privileges. So, you won’t benefit from flyer miles or cash back by spending with the card, although the interest rates are extremely competitive on purcahses. While you will get a cheap annual rate of $49 p.a. for the first year, this reverts to an annual fee of $99 p.a. afterwards.

Who Would be Suited?

Citibank’s Clear Platinum card is a really good option for people who want a simple, no-frills card with super low interest rates. It is worth taking advantage of the balance transfer offer, especially if you think you can pay off the balance within the introductory period. Thanks to the low purchase rate, this is a good choice for the long run. Frequent travellers can also benefit from the complimentary international travel insurance.

Who is Eligible?

To be eligible for the Citibank Clear Platinum card, you must be at least 18 years old, a permanent Australian resident, have a good credit rating, and have a minimum earning of $40,000 per year.