$0 Annual Fee for Life on Citi Platinum/Signature CC Complimentary Insurance

[Jeffrey O'Neill]

Noticed under Everyday Accounts - Citibank Australia

Basically they're offering the platinum card for free via a number of packages, some with cashback deals as well.

 

[deejo77]

Wife Applied Tuesday, emailed Documents Wednesday, Received a statement Thursday, Got the card in the mail Friday(yesterday)...

Same - activated and used

 

[burmans]

Having applied and meeting the criteria hands down they now tell me I don't qualify. Dealing w' these people has been terribly frustrating and therefore very stressful as it's like talking to a merry go round. It's the sort of nightmare service that people used to have to put up w' decades ago before companies understood what service should be. I may even call the banking ombudsperson.

Not sure what you think you are going to call the ombudsman about. Under Responsible Lending legislation they are required to make a credit assessment of you and your ability to pay, if you have been turned down you clearly do NOT meet their criteria and there is nothing the Ombudsman can do about that, he is not empowered to force a bank to make what it regards as a bad loan. In fact he would be far more likely to want to get involved if the bank DID make a loan to something they thought on their own credit assessment criteria was bad risk!

I know that you think you are a good risk but its not you lending the money and they are entitled under the law to turn people down, whether its good business to do so is quite another matter but not something FOS will get involved in.

 

[medhead]

I've learned not to put in any other income. Just wastes my time having to send in proof.

Citibank are a funny mob. They wanted called prior to my approval saying that my documents showed a significantly higher income that I'd put down (I always lowball it), but also that I hadn't given any proof of my other income. They asked if they could raise my primary and remove my secondary income...

Why not just do it without asking? It in no way affected my application negatively as it have me a higher income on their papers...

Oh well. How do I do the 0% cheque to self feature? Do I have to call for it to be 0%?

Because you've made a declaration. If they change it without your permission there are all sorts of hurt involved in case of any dispute. Think all these low doc mortgages where mortgage brokers put in the wrong info and the people are trying to get out of it now they can't afford the loan.

 

[Beta4Me]

Don't take it too personally. Citi is a most unusual outfit that was saved during the GFC because they were deemed to be too big to fail.
If the IT systems feel clumsy and useless that would be because the lowest priced tender won the job.
Getting a rejection is not nice but use tenacity 100 that you have developed certainly helps when you are trying to get to YES.
Getting our two Citi cards were the hardest but we did get there in the end.

When I think of how bad Citi is I just remember Macquarie is worse and I feel a little less depressed

 

[Buzzard]

I have applied and am still waiting
Got a call re my income saying they would only allow half rental income as properties in joint names and would not allow company car as it does not show on pay slip. Originally told to put car as other income. Not looking good I'm thinking.

 

[DaveB]

Do not lose any sleep getting knocked back by Citi. From my experience, anyone self employed is a good chance of being knocked back with Citi seeming to take into account the card is likely going to be points abused. The Select card is treated differently where they get their upfront pound of flesh of either half or the full $700 annual fare.
Purely as a backup to my Select, applied for a Signature under my wife's name which after initially being approved with all the income verified and accompanying bank statements for business and personal showing 1.5x total debt, my wife then got knocked back despite having only a minor WWEDR card in her name. At the same time, applied for an Altitude Black in my name despite having at least 15x credit card limit of my wife and identical income which was approved.

 

[casanovawa]

I applied Friday before last, faxed of passport and couple of pay slips Tuesday and the card/package arrived int he mail Thursday... I have had their fee free Debit Card for a while, but a pretty painless procedure all up...

 

[albyd]

Hi,

I already have a Citi Select. My wife is a supplementary on mine so they will already have identified her. She otherwise has no accounts in her name with Citi. My wife is looking to apply for the fee free Signature. She meets the income requirements, but is self employed albeit in the medical profession.

From reading the posts in this thread, it sounds like she may run into issues being self employed (I'd hope the medico bit will override this). She has last 2 tax returns available. I understand applying over the phone might be better than online given she is self employed? Is there anything else we should have at the ready to maximise chances of success?

I would like her to get this offer and understand from personal experience Citi can be painful but persistence usually wins in the end. Just don't want to test her patience as this is my hobby horse.

Albyd.

 

[rweir]

sounds like applying online would be a lot easier, then emailing them the notices of assessment when asked.

 

[DaveB]

Hi,

I already have a Citi Select. My wife is a supplementary on mine so they will already have identified her. She otherwise has no accounts in her name with Citi. My wife is looking to apply for the fee free Signature. She meets the income requirements, but is self employed albeit in the medical profession.

From reading the posts in this thread, it sounds like she may run into issues being self employed (I'd hope the medico bit will override this). She has last 2 tax returns available. I understand applying over the phone might be better than online given she is self employed? Is there anything else we should have at the ready to maximise chances of success?

I would like her to get this offer and understand from personal experience Citi can be painful but persistence usually wins in the end. Just don't want to test her patience as this is my hobby horse.

Albyd.

The call centre staff have been known to mix up weekly with monthly income amounts so suggest you go online. Likely will have to still run the call centre gauntlet being self employed. Citi will also not talk to you unless they have a written statement to that effect from your wife - verbal will not suffice.
Income received as franked dividends from your company, family trusts and personal super contributions (even when after the deduction your income is still above the income level nominated) becomes too hard for their systems to cope. Citi in my ten or so years with them have never once asked for a company P&L or balance sheet.

 

[ninja-tim]

Do not lose any sleep getting knocked back by Citi. From my experience, anyone self employed is a good chance of being knocked back with Citi seeming to take into account the card is likely going to be points abused. The Select card is treated differently where they get their upfront pound of flesh of either half or the full $700 annual fare.
.

Just checked my application status at 9.05 and showed it being declined they are really quick with getting that up on a monday morning. Guess it's much harder for self employed to get cards off them.
Just being optimistic, but has anyone heard of getting a decline overturned?

Hi,

I already have a Citi Select. My wife is a supplementary on mine so they will already have identified her. She otherwise has no accounts in her name with Citi. My wife is looking to apply for the fee free Signature. She meets the income requirements, but is self employed albeit in the medical profession.

From reading the posts in this thread, it sounds like she may run into issues being self employed (I'd hope the medico bit will override this). She has last 2 tax returns available. I understand applying over the phone might be better than online given she is self employed? Is there anything else we should have at the ready to maximise chances of success?
Albyd.

From this some of the previous advice, be prepared, have all documents ready to send and let the accountant know citi may come a knocking.

 

[get me outta here]

Yes, I felt quite dejected being knocked back and I see now that it really IS an illogical process. Plenty more cc out there w' good points available.

They gave me a bogus phone number too for the 'verification department', which does not exist: 1800 807 138. I guess that got me off the phone though.

 

[ninja-tim]

Yes, I felt quite dejected being knocked back and I see now that it really IS an illogical process. Plenty more cc out there w' good points available.

They gave me a bogus phone number too for the 'verification department', which does not exist: 1800 807 138. I guess that got me off the phone though.

Yeah I feel the same now after finding out. Which card did you end up going for after this? Now I gotta wait a few months to apply for some other card, after waiting 9 months to get rejected by citi I hope my next card doesn't get rejected. It's hard getting a CC within the first year of being self employed, if I had known I wouldn't have cancelled my other card.

 

[legroom]

Do not lose any sleep getting knocked back by Citi. From my experience, anyone self employed is a good chance of being knocked back with Citi seeming to take into account the card is likely going to be points abused. The Select card is treated differently where they get their upfront pound of flesh of either half or the full $700 annual fare.
Purely as a backup to my Select, applied for a Signature under my wife's name which after initially being approved with all the income verified and accompanying bank statements for business and personal showing 1.5x total debt, my wife then got knocked back despite having only a minor WWEDR card in her name. At the same time, applied for an Altitude Black in my name despite having at least 15x credit card limit of my wife and identical income which was approved.

Both of us are self employed.

We each had Select, then we each downgraded to free-for-life Signature.

So, in our example of one, being self employed is not an issue.

 

[ninja-tim]

Both of us are self employed.

We each had Select, then we each downgraded to free-for-life Signature.

So, in our example of one, being self employed is not an issue.

Downgrading anything is easier, upgrading is the hard part.

 

[legroom]

Downgrading anything is easier, upgrading is the hard part.

Sure, but my post was in response to the remark that Citibank discriminates against the self employed

See here

... From my experience, anyone self employed is a good chance of being knocked back with Citi seeming to take into account the card is likely going to be points abused. The Select card is treated differently where they get their upfront pound of flesh of either half or the full $700 annual fare....

 

[albyd]

Wife applied last night. Emailed all the docs they asked for within minutes. Today got the conditionally approved email and a request to send the same documents again. I'm assuming we should send these documents again because they may not realise we've already sent them or is this really a boiler plate email they send to everyone. We sent 2012 & 2013 tax returns. They shouldn't need to speak with our accountant. I'm assuming he's going to be away for the holidays. what happens if they aren't able to contact him? Will they just decline or are they likely to take holidays into account and keep trying? (I'm assuming processing is not done from Australia).

 

[DaveB]

Wife applied last night. Emailed all the docs they asked for within minutes. Today got the conditionally approved email and a request to send the same documents again. I'm assuming we should send these documents again because they may not realise we've already sent them or is this really a boiler plate email they send to everyone. We sent 2012 & 2013 tax returns. They shouldn't need to speak with our accountant. I'm assuming he's going to be away for the holidays. what happens if they aren't able to contact him? Will they just decline or are they likely to take holidays into account and keep trying? (I'm assuming processing is not done from Australia).

You may get lucky, however they phoned my wife, work and accountant. The whole process best summed up by my accountant who quipped the call centre rep's finance knowledge matched their level of english comprehension.
Beyond me why they never ask for company financials to determine how viable it is and ability to maintain the owner's salary level.
Two of my staff had no problem obtaining Signature cards despite earning less than my wife.

 

[medhead]

First statement was in the post today. Still have to receive the card.