FEATURES SUMMARY

• Annual fee: $49 for the 1st year, then $99
• Purchase rate: 11.49% p.a.
• Cash Advance rate: 21.24% p.a.
• Balance Transfer rate: 0% p.a. first 6 months
• Interest-free days: Up to 55

• Extras:
  • Apply online
  • Fraudshield
  • Extended warranty
  • Purchase protection
  • Phone/Internet banking
  • International Travel Insurance

The Citibank Clear Platinum credit card is one of a number of premium credit cards available from Citibank, but when you compare it to most others on the market it doesn’t really seem like a platinum card at all.

This odd choice of name from Citibank has potential to confuse customers. Platinum credit cards tend to be more costly than the Citibank Clear Platinum card, which means those in the market for a cheap credit card may overlook it without realizing just how affordable it is.

Citibank is one of only two banks in Australia that offer a platinum credit card at less than $100 a year! Most of these premium cards cost anywhere between $100 and $300. This credit card usually has an annual fee of $99, however at present you can receive a discount of more than 50% off your annual fee for the first year, bringing the annual fee down to just $49! Bargain!

Despite the confusion, it is in fact a really good credit card. It takes out the #1 spot for platinum credit cards, #2 for cash back credit cards and #3 for interest free credit cards in the Editor’s Choice category.

The standard interest rate is low at just 11.49% p.a.* on purchases* and 0% p.a. for the first 6 months on balance transfers*. The one downfall that can be seen on this card is its cash advance and default balance transfer rate – 21.24% p.a.* At that rate you’d only want to use cash advances in a real emergency.

Other benefits of this credit card also include international travel insurance, purchase protection and extended warranties on all products purchased with the credit card. And who could forget the rewards. With over 40,000 rewards partners in over 30 countries around the world, your rewards will follow you anywhere you go.

The main requirement that Citibank has for this card is that you must earn $50,000 or more per year. With up to 55 days interest free*, it is an impressively cheap credit card (when you avoid getting out cash) with great travel and reward benefits that you are unlikely to get anywhere else at such an affordable rate.

See all our top credit card picks in the Editor’s Choice category