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Benefits and Features of a Citibank Credit Card
Credit card reward points can be redeemed for certain other gifts from the company’s catalogue. AirMiles and entry to various airport lounges can also be availed by individuals. Cardholders can also use their credit card to pay utility bills as well as withdraw money, which is however not advisable. Unlike debit cards, when customers use credit cards, funds are not withdrawn from their own account but are provided on a credit. Essentially, credit cards are similar to small loans that can be procured every time they swipe their card. Therefore, cardholders will have to repay the same in the form of monthly bills.
Customers have the option to pay the entire bill in full which is recommended or pay as much as they can. Additionally, customers can also just pay the minimum amount due and pay the rest at a later date. However, in case cardholders do not pay their bill amount in full, interest will be applicable on the remaining amount. Therefore, with each subsequent payment customers will end up paying more due to interest. If payment is still not made on time, they will end up having to pay a huge bill which will create a dent in their finances. Therefore customers need to ensure that they use their credit cards judiciously.
For the above reason, credit cards are not provided to all but only those who meet a certain eligibility criteria. This is usually dependent on the individual’s income, age, location and credit score among others. A number of banks and institutions today provide credit cards to customers.
Citibank Credit Card Eligibility and Documentation:
Citibank Credit Cards Eligibility Criteria
The income requirement varies depending on the card. Also, certain credit cards have special criterion. Do enquire with Citibank before proceeding with the application.
Citibank Credit Card Documentation Requirements:
The following documents will have to be submitted while applying for a Citibank Credit Card.