Citi Ready Credit - 70k Velocity points with $500 balance transfer

[Ansett Nostalgic]

No - the cost is the $199 fee plus the interest. But you will only pay interest on the full $5,000 for a couple of days because you're going to repay most of it instantly, and then interest on the residual amount ($50?) until the points come through. Then you repay the balance and close the account.

Are people still paying it down to $500 or leaving the full $5000 until points post?

 

[Happy Dude]

Paid down to near enough $1 asap till the points come through, then payout remainder. Note that they don't accept bpays less than $1 so I'm waiting for a cheque for $0.98 in the mail.

 

[Ansett Nostalgic]

Will I still receive the Qantas Points if I repay the initial balance I request to be transferred?
Yes, you can still be eligible, provided that your Citi Ready Credit has a debit balance and you meet the other eligibility criteria.2

2. 50,000 Qantas Points

Offer eligibility: Please ensure that all supporting documentation for your application is submitted to us before 1 August 2025. If we don’t receive all documentation before 1 August 2025, your application will be cancelled. To be eligible to receive 50,000 Qantas Points, you must: apply for this offer before it is withdrawn, request a balance transfer of $5,000 or more within 3 months of approval, and provide your Qantas Frequent Flyer membership number linked to an account in your name to NAB within 2 months of our request for it. Your account must be open, in good standing (for example, your account is not in default or suspended) and must maintain a debit balance until the Qantas Points are credited. If you do not provide your Qantas Frequent Flyer number within 2 months from when NAB first request it, the Qantas Points will be forfeited.

Offer exclusions: This offer is available only once per customer. This offer is not applicable or valid in conjunction with any other advertised or promotional offer. If you have previously received, or are entitled to earn, 50,000 Qantas Points with this offer, you will not be eligible to earn another 50,000 Qantas Points with this offer.

Requesting your Qantas Frequent Flyer number: NAB will send you an email to the email address maintained on your Citi Ready Credit account requesting your Qantas Frequent Flyer membership number from you, within 2 months from the date your initial transfer of $5,000 or more was processed. NAB may also send you an SMS.

Receiving your Qantas Points: The Qantas Points will be credited to your Qantas Frequent Flyer account within 2 months of NAB receiving your Qantas Frequent Flyer number.

Citi Ready Credit - Qantas offer

Citi Ready Credit is a line of credit that you can dip into whenever you need. Apply for Ready Credit and receive an introductory offer on the initial balance transferred.

www1.citibank.com.au

Looks like you're right and we don't even need to keep $500 balance, just a few dollars in debit will do.

 

[Mr H]

Citi Ready Credit - Qantas offer

Citi Ready Credit is a line of credit that you can dip into whenever you need. Apply for Ready Credit and receive an introductory offer on the initial balance transferred.

www1.citibank.com.au

Looks like you're right and we don't even need to keep $500 balance, just a few dollars in debit will do.

You have never needed to maintain a balance of $500. You just need to leave enough that you don't accidentally clear the balance with an automated payment.