CitiSelect - Large Supplier Payment

[blessed11]

Hey all,

I just got a CitiSelect visa. I got large supplier payments to make ($100k+ per month), two questions:

1. If I prepay and then charge, will I still earn points?
2. Will Citi credit me points, or will they deem as a business transaction and award no points?

Thanks in advance!

 

[petermac123]

Yes, you can preload the card, process the payments and earn points.

Technically, it is against the terms of service to use the card for business transactions - there is no guarantee that Citi won't cancel you're card if you use it for business purposes. Be sure not to leave the card in credit.

In practice, people use the card for the purpose you have outlined without problem.

 

[cove]

Seeing it is a brand new card I would start the paying early to not offend your vendor then have BPays arrive each day to cover the previous amount processed. Going say 100,000 or 500,000 in credit is not really such a great idea in the first or second month of getting the card as it will draw un-necessary attention to your new account.
That said I have not had an issue in getting points ever from having put either of our Select cards into credit so you could do it your way. My attitude is mix it up and give them a whole range of payments in a month and re-load the card using BPay.

 

[oz_mark]

Don't the T&C's exclude purchases where the account is more than $10,000 in credit?

 

[cove]

Yes oz_mark that provision is there in the terms and conditions but when faced with a credit cardable amount way higher than your card limit Citi Select has always issued points regardless. It is probably wise to not go into credit frequently. My post number 3 is the way I have chosen to do it and I chose to go a BPay limit of 100k to avoid major credit balances occurring.

 

[blessed11]

Thanks for the response guys.

I've spoken to Citi this morning as I had another issue with my account, ran it passed them, they said to call up before making a transaction that is higher than my credit limit (even if my account is in credit) as credit need to verify it first. I also specifically asked if they mind paying large ATO/Telstra bills and she said no - I said I thought that business transactions were not allow, she said no problem.

I'd be keen to hear your experience on processing large transactions which are above credit limit? I also think she may have given me the wrong advise re. processing business transactions, though maybe they just do not enforce the rule...

 

[blessed11]

cove - just to clarify post 3 of yours. Since they started me with $50k limit, for example I have a $150k bill to pay you're saying make 3 x $50k payments over 3 days and that way I wont need to place my account in credit? Sounds like a good plan... really like it ! Not really that comfortable in placing my account in $100k credit, especially because it's a new account.

Thanks !

 

[cove]

If everyone applied rules numbered one to a million and one that would change our travelling aspirations.
Citi are not mulching on paying out on points for transactions other than a few dinner bonuses.

Your post number 7 looks good!

 

[oz_mark]

Yes oz_mark that provision is there in the terms and conditions but when faced with a credit cardable amount way higher than your card limit Citi Select has always issued points regardless. It is probably wise to not go into credit frequently. My post number 3 is the way I have chosen to do it and I chose to go a BPay limit of 100k to avoid major credit balances occurring.

Citi have had a habit in the past of not applying all their T&C's, and then one day suddenly starting to enforce them.

For example, point caps never used to be enforced. So, while contemporary evidence suggests that a particular rule is not enforced, there is always a chance that down the path it may well be.

 

[blessed11]

Thanks again guys for the responses. Very much appreciated!

 

[blessed11]

Sorry, one more question. If I open a Citi Bank Account, the funds I place in this bank account, am I able to pay by CitiSelect and have the payment clear instantly, as is done with local Australian banks?

thanks !

 

[greenfrog86]

Sorry, one more question. If I open a Citi Bank Account, the funds I place in this bank account, am I able to pay by CitiSelect and have the payment clear instantly, as is done with local Australian banks?

thanks !

Yep, if you have funds in your Citibank transaction account you can pay your credit card by doing an internal transfer.

Citi Australia is no different to a 'local' bank - for all intensive purposes it will act just like any other bank. The only time this kind of payment wouldn't go through straight away is if the particular organisation's internet banking isn't set up for it...

 

[blessed11]

Thanks greenfrog86! I've submitted my application for a Citi account. Will make large transactions a little easier so I don't need to wait for funds to clear always etc.

I see you're from Melb so hope you're enjoying the long weekend!

Cheers

 

[DeKa]

for all intensive purposes

For all intents and purposes.

http://m.urbandictionary.com/#define?term=For all intensive purposes

 

[cove]

Sometimes the computer can be Alabama predictive so you can type something and it can come out Americanised without you noticing a very cute change.
Our Citi Select group is a small bunch who were tenacious enough to get through the torture pathways of the application process.
I am really chuffed with the results from using the Citi points and several of my friends are over the moon with their improved flights since they joined Citi Select.
Now they are wishing they could have a bigger business to get larger suppliers.

 

[greenfrog86]

For all intents and purposes.

Urban Dict

Thanks for taking the time to be a pedantic and rather unhelpful poster

 

[greenfrog86]

Thanks greenfrog86! I've submitted my application for a Citi account. Will make large transactions a little easier so I don't need to wait for funds to clear always etc.

I see you're from Melb so hope you're enjoying the long weekend!

Cheers

Citibank also has an online savings account that might be useful for parking your money before you pay the credit card - still at 4% which isn't bad with the current cash rate.

 

[blessed11]

Citibank also has an online savings account that might be useful for parking your money before you pay the credit card - still at 4% which isn't bad with the current cash rate.

Thanks a lot again! That's precisely what I signed up for. Same thoughts here 4% isn't too bad to park some expenses funds. Looking forward to maxamizig my CitiBank rewards! So far, speaking to local call centre staff has been the biggest enhancement, haha! Currently looking through all my expenses and ensuring the ones which accept visa are charged accordingly. Have solely been using Amex for rewards and obviously many billers do not accept Amex, so this will be a substantial win!

Cheers