Citi Card Balance Transfer Policy
by Mr Credit CardLike all other credit card issuers, Citicard’s balance transfer policy has evolved since the credit crisis erupted a year ago. Whereas, everyone (including Citi) were offering 0% balance transfer deals for 12 months and waiving their balance transfer fees, Citi has now become more conservative.
Like other card issuers, they have reduced their introductory period to 6 months from the 12 months that used to be common pre-credit crisis. They have also re-introduced a fee for transferring a balance (3% – which is the standard these days). While cards like American Express have simply got away from offering these balance transfer deals, at least Citi is still having them.
Citicards to consider for balance transfer -The Citi Forward(SM) Card offers a 0% APR* Introductory Rate for up to 7 months while the Citi® Platinum Select® MasterCard® offers 0% APR* Intro Rate for up to 12 months.
August 14th, 2007 at 01:53
Thanks for the info. I was cringing as I read this, as my husband and I just got a Citi card for the purpose of transferring a balance. Fortunately we got the last one you mentioned. We’re planning on paying it completely off before the interest rate kicks in, and we don’t plan on ever having a credit card balance again after that.
October 29th, 2007 at 18:13
I have the dividend card that gives 5% rewards in the form of thankyou points for “everyday” purchases but the 5 % ended for me now that I passed twelve months. I am closing it and moving over to the professional card as it gives me 3% for everyday purchases with no time limit ( or at least until citi changes it for me
). Until then though – the professional card for me.
Wiju
August 25th, 2009 at 16:56
I have the citicard drivers edge card, and recently reactivated it. Ive been trying to GET a balance transfer for 3-4 months… 0% 12 months? so by the time im able to do a balance transfer, it will probably be up