CitiBank Credit Card

Hi All,

So I got my spanking new CitiBank Rewards CC yesterday.. it looks sexy!!

I have never used CCs before, only debit cards. So i would need some guidance from other CC users on the following:

1. Does the CC use PIN, like debit cards?? my card has a chip on it.
2. Its a VISA card. what does that mean??

PS: Citibank CC card holders are most welcome to guide me.

V

1. Yes. I remember reading somewhere, that the RBI had made chip+PIN cards mandatory for whoever who had used their cards at an international POS terminal.
*www.online.citibank.co.in/portal/pdf/EMV-FAQ.pdf

2. VISA is a payment gateway that connects merchant payment terminals with your bank’s credit card department.
What's the Difference Between Visa and MasterCard? | money.co.uk

The new Cards (be it Debit or Credit) all comes with a sim like chip embedded in it. More security. And also the PIN is also mandatory on CC like DC.
The PIN won't be required in online purchases though, but only required to be punch at the retail counters where you make transactions through CC.

The things you should be careful about with CC is :
1. Don't think of it as "Yay, now I can buy anything", but as "I am taking loan from my future self, and I have to repay him soon"
2. Repay the CC bill before the deadline (preferably before 3 working days) since when you pay the CC bill online, it takes a while before it shows up as paid, while money gets deducted from your main account instantly.
3. You will receive points with each transaction you make through CC and the points will be shown in the bill you receive in the PDF which Citibank send on email.
4. If the amount you spend from CC is more than a specified amount (like 5k) then you can convert it in EMI. Though I am not aware of the interest rates. But I don't recommend since it must be high.

And lastly and more importantly:
5. Don't evar handover the CC to any girl. Again, DONT evar give your CC to your girlfriend.

anirbandd said:
Hi All,

So I got my spanking new CitiBank Rewards CC yesterday.. it looks sexy!!

I have never used CCs before, only debit cards. So i would need some guidance from other CC users on the following:

1. Does the CC use PIN, like debit cards?? my card has a chip on it.
2. Its a VISA card. what does that mean??

PS: Citibank CC card holders are most welcome to guide me.

welcome to citi fanclub
now transfer some money to my acccount

DId you get 2000 reward points with it?

upi can exchange those at book my show to get movie tickets for free.

Things to keep in mind, every 125 rupees spent on your rewards card = 1 reward point
if you spend it at shoppers stop you get 10 points - more special outlets are listed on the website.

you can use this CC online on PSN and so on
you need pin for swiping in shops

you can pay the cc bill online and use it to recharge your prepaid phone online on the citibank website.

now buy me a cellphone off flipkart on EMI. :lol:

don't open porn sites on a pc you use to shopping with your credit card. stay away from downloads, torrents websites etc. popups have Trojans.

Vignesh B said:
1. Yes. I remember reading somewhere, that the RBI had made chip+PIN cards mandatory for whoever who had used their cards at an international POS terminal.
*www.online.citibank.co.in/portal/pdf/EMV-FAQ.pdf

2. VISA is a payment gateway that connects merchant payment terminals with your bank’s credit card department.
What's the Difference Between Visa and MasterCard? | money.co.uk

Vyom said:
The new Cards (be it Debit or Credit) all comes with a sim like chip embedded in it. More security. And also the PIN is also mandatory on CC like DC.
The PIN won't be required in online purchases though, but only required to be punch at the retail counters where you make transactions through CC.

The things you should be careful about with CC is :
1. Don't think of it as "Yay, now I can buy anything", but as "I am taking loan from my future self, and I have to repay him soon"
2. Repay the CC bill before the deadline (preferably before 3 working days) since when you pay the CC bill online, it takes a while before it shows up as paid, while money gets deducted from your main account instantly.
3. You will receive points with each transaction you make through CC and the points will be shown in the bill you receive in the PDF which Citibank send on email.
4. If the amount you spend from CC is more than a specified amount (like 5k) then you can convert it in EMI. Though I am not aware of the interest rates. But I don't recommend since it must be high.

And lastly and more importantly:
5. Don't evar handover the CC to any girl. Again, DONT evar give your CC to your girlfriend.

Gollum said:
welcome to citi fanclub
now transfer some money to my acccount

DId you get 2000 reward points with it?

upi can exchange those at book my show to get movie tickets for free.

Things to keep in mind, every 125 rupees spent on your rewards card = 1 reward point
if you spend it at shoppers stop you get 10 points - more special outlets are listed on the website.

you can use this CC online on PSN and so on
you need pin for swiping in shops

you can pay the cc bill online and use it to recharge your prepaid phone online on the citibank website.

Thanks a lot!! This is very very helpful.

[MENTION=53760]TheHumanBot[/MENTION] : 1st: No. 2nd: Yes, I figured :lol:

[MENTION=85950]Gollum[/MENTION] :i dont know how to see reward points

^^ My post point 3. Do you even read Replies?

anirbandd said:
Thanks a lot!! This is very very helpful.
[MENTION=53760]TheHumanBot[/MENTION] : 1st: No. 2nd: Yes, I figured
[MENTION=85950]Gollum[/MENTION] :i dont know how to see reward points

open the website>login to yhour account to which the cc is linked
then go to view statement
click on unbilled statement from the dropdown

oh okay.. will do.

and another question:

I already have the Debit card, with APIN and all.. so will the new CC work with that PIN, or will they send a new one?

V

No, you'll get a new pin.

so, till then, i cant use it..

hmm..

anirbandd said:
so, till then, i cant use it..

hmm..

You can. Call the call center and request a new pin. Tell them to give it to you instantly. Go to a citi ATM and change it.
And if you have a Citi account it is always a good idea to go for auto debit option.

V

nomad47 said:
You can. Call the call center and request a new pin. Tell them to give it to you instantly.

Do they give PIN over the phone? I think it is provided only through mail(postal).

Vignesh B said:
Do they give PIN over the phone? I think it is provided only through mail(postal).

It comes by post only. But you can call them and ask for a one time pin or password. They will give it to you and you will have to change it in ATM immediately.

nomad47 said:
You can. Call the call center and request a new pin. Tell them to give it to you instantly. Go to a citi ATM and change it.
And if you have a Citi account it is always a good idea to go for auto debit option.

whats auto debit??

V

anirbandd said:
whats auto debit??

The bill amount will be automatically debited from your account on the specified date.

nomad47 said:
It comes by post only. But you can call them and ask for a one time pin or password. They will give it to you and you will have to change it in ATM immediately.

Oh, okay. Thanks!

Vignesh B said:
The bill amount will be automatically debited from your account on the specified date.

right.. that leads to another question.. what is the date by which i have to pay? i was told it will be there along with the CC, but it wasnt.

anirbandd said:
right.. that leads to another question.. what is the date by which i have to pay? i was told it will be there along with the CC, but it wasnt.

Check your welcome letter. It should be there.

it wasnt there IIRC.. i checked quite thoroughly..

anirbandd said:
it wasnt there IIRC.. i checked quite thoroughly..

Goto citibank.co.in
Login and open Credit card section.
Click your card number link.
You will see Due date on the next screen.

okay.. will check.

thanks!

Things to remember -
never use your cc in an atm machine - there is heavy surcharge
cc pin either comes along with the card or after a few days automatically - if not call citiphone - number is on your cc
you can ask the bill due date at the citiphone line
never use the auto debit option - it will debit the set amount even if you have paid the bill (this option is enabled by default and you have to disable it online)

There is a set limit to which you can spend. You will get option to upgrade the limit by mail once you have had good enough credit history.

Do increase the limit if you think later on it might be useful. I wasn't able to buy Lenovo Y500 using citibank CC as my credit limit was 50k. Before that I just never replied to the upgrade limit mails and now wanted that desperately as there was some cashback offer and 0% EMI charge for Y500.

Also, beware of surcharges at mall, petrol pumps etc if they don't have citibank connected machine.

Gollum said:
Things to remember -
never use your cc in an atm machine - there is heavy surcharge
cc pin either comes along with the card or after a few days automatically - if not call citiphone - number is on your cc
you can ask the bill due date at the citiphone line
never use the auto debit option - it will debit the set amount even if you have paid the bill (this option is enabled by default and you have to disable it online)

For changing PIN in ATM there is no surcharge. And why would you pay the bill if you have set auto debit option. Just set it to pay the entire bill amount on the due date.

nomad47 said:
For changing PIN in ATM there is no surcharge. And why would you pay the bill if you have set auto debit option. Just set it to pay the entire bill amount on the due date.

its not good if you dont have funds in you account is it?

Gollum said:
its not good if you dont have funds in you account is it?

Dude you will anyways have to pay the bill. Else it will attract hefty interest. Also your CIBIL score will go South. So keep your account properly funded for the bill

Gollum said:
Things to remember -
never use your cc in an atm machine - there is heavy surcharge
cc pin either comes along with the card or after a few days automatically - if not call citiphone - number is on your cc
you can ask the bill due date at the citiphone line
never use the auto debit option - it will debit the set amount even if you have paid the bill (this option is enabled by default and you have to disable it online)

thanks for the warning on that bolded part..

btw, what if i set the bill payment to Least Payable amount, so as not to attract the interest?? any catches in that??

Faun said:
There is a set limit to which you can spend. You will get option to upgrade the limit by mail once you have had good enough credit history.

Do increase the limit if you think later on it might be useful. I wasn't able to buy Lenovo Y500 using citibank CC as my credit limit was 50k. Before that I just never replied to the upgrade limit mails and now wanted that desperately as there was some cashback offer and 0% EMI charge for Y500.

Also, beware of surcharges at mall, petrol pumps etc if they don't have citibank connected machine.

i got the 50K Credit limit.
and the cash limit is 10K.. how is it useful?? does it mean that i can withdraw upto 10K from an ATM??

btw, explain the last bold line.

PS: i also read in the letter that there are surcharges in purchasing train tickets online using CC. can someone confirm and explain this??

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See, basically, i am planning to only spend upto 5000 a month through CC. that means i will be able to waive off the 1K card charges each year, and also keep my monthly bill low.
for other payments, im going to try to use my regular debit card.

you people got any suggestions on this kind of usage?? also, do share how you use your CC. do you entirely depend on your CC for all payments? or do you use your DC too?

- - - Updated - - -

nomad47 said:
Dude you will anyways have to pay the bill. Else it will attract hefty interest. Also your CIBIL score will go South. So keep your account properly funded for the bill

Yeah, about the CIBIL score... been hearing a lot about it... how does it help a guy like me??
also, i checked on their site. It takes ~Rs. 450 for the score generation.

so, when should i purchase my CIBIL score??

anirbandd said:
thanks for the warning on that bolded part..

btw, what if i set the bill payment to Least Payable amount, so as not to attract the interest?? any catches in that??

i got the 50K Credit limit.
and the cash limit is 10K.. how is it useful?? does it mean that i can withdraw upto 10K from an ATM??

btw, explain the last bold line.

PS: i also read in the letter that there are surcharges in purchasing train tickets online using CC. can someone confirm and explain this??

--------------------------------------------------------------------------------------------------------------------------------------------------------------------

See, basically, i am planning to only spend upto 5000 a month through CC. that means i will be able to waive off the 1K card charges each year, and also keep my monthly bill low.
for other payments, im going to try to use my regular debit card.

you people got any suggestions on this kind of usage?? also, do share how you use your CC. do you entirely depend on your CC for all payments? or do you use your DC too?

- - - Updated - - -

Yeah, about the CIBIL score... been hearing a lot about it... how does it help a guy like me??
also, i checked on their site. It takes ~Rs. 450 for the score generation.

so, when should i purchase my CIBIL score??

Unless and until you are willing to take a loan there us no necessity to purchase it. You can purchase it if a loan application or a credit card application gets rejected. Else it is of no use.

Pay your CC bills on time and you would not have to worry about the score.

Don't withdraw cash using your CC unless and until you are absolutely in a tight corner without any other option. It has a higher interest charge and the interest is charged from the moment you withdraw it (no interest free period)

Also if you pay only the minimum amount due the unpaid amount will still attract interest. And any new transaction will not have any interest free period.

The usage of CC and DC depends on you entirely. Its better to rack up reward points in one card as its more beneficial. But I personally avoid using CC where there is a surcharge.

Always keep in mind that CC is a loan from your future self. So plan your purchases accordingly.

that last line kinda sums it up nicely!!

regarding increasing credit limit, does it apply when i regularly pay the bill, no matter the amount[i am planning to take smaller credits on the CC], or only when the credit amount is larger than a certain amount..

anirbandd said:
that last line kinda sums it up nicely!!

regarding increasing credit limit, does it apply when i regularly pay the bill, no matter the amount[i am planning to take smaller credits on the CC], or only when the credit amount is larger than a certain amount..

Different companies have different policies and the credit limit also depends on your monthly income. If you pay your bills regularly and spend hefty amount in CC the company may offer you a limit enhancement. You may also apply on your own for increasing the limit. They generally ask for form 16 and some last 3 months salary slips for that.

I spend for anything that doesn't incur surcharge using the Citibank CC. This way I get to increase the reward points.
And then before the due date arrive pay the entire sum of CC bill from main account at once.

Till now haven't used CC to get things on EMI. And I hope I don't need to do it either.

Remember these rules and u will enjoy the CC for a Lifetime with a good CIBIL rating
1) Never Exceed Credit Limit in a billing cycle.
2) Always pay before or on due Date.
3) Never Withdraw Cash from a CC (use Debit instead) bcoz of higher interest rate (only in extreme/urgent conditions u can withdraw)
4) Never Use multiple CC for transactions in fact don't use many CC (2 or 3 CC is more than enough)

nomad47 said:
Different companies have different policies and the credit limit also depends on your monthly income. If you pay your bills regularly and spend hefty amount in CC the company may offer you a limit enhancement. You may also apply on your own for increasing the limit. They generally ask for form 16 and some last 3 months salary slips for that.

thanks.. i do plan to increase the ,limit a few months from now, depending on how much i need it.

Vyom said:
I spend for anything that doesn't incur surcharge using the Citibank CC. This way I get to increase the reward points.
And then before the due date arrive pay the entire sum of CC bill from main account at once.

Till now haven't used CC to get things on EMI. And I hope I don't need to do it either.

have you done transactions on IRCTC through Citibank CC? do you know if charges anything extra?

Zangetsu said:
Remember these rules and u will enjoy the CC for a Lifetime with a good CIBIL rating
1) Never Exceed Credit Limit in a billing cycle.
2) Always pay before or on due Date.
3) Never Withdraw Cash from a CC (use Debit instead) bcoz of higher interest rate (only in extreme/urgent conditions u can withdraw)
4) Never Use multiple CC for transactions in fact don't use many CC (2 or 3 CC is more than enough)

multiple CCs?? no, i didnt want to even take this one.. but everything everywhere uses CC, so i took it..

thanks a lot!!

anirbandd said:
multiple CCs?? no, i didnt want to even take this one.. but everything everywhere uses CC, so i took it..

heh heh...i was on the same boat 1yr back but once I started using CC felt so convenient in using it.
u will also feel the same Buy now...Pay Later

Zangetsu said:
heh heh...i was on the same boat 1yr back but once I started using CC felt so convenient in using it.
u will also feel the same Buy now...Pay Later

nomad47 said:
Always keep in mind that CC is a loan from your future self.

[MENTION=154031]nomad47[/MENTION] put it very aptly, and in an easy to remember way.

all right... so i activated the card and linked the card to my account..

i bought some items.

i also bought some items from steam. amounting to USD 4.9... I got an sms stating the same, and also that "Final FX rates and charges are applicable."

whats that?? and when is the USD gonna convert to INR?

On my HDFC card that is done immediately but some time they do put FCY conversion charges of INR 20 to 30 later.
IDK about Citi but I can ask my friends who hold that card.

ManiDhillon said:
On my HDFC card that is done immediately but some time they do put FCY conversion charges of INR 20 to 30 later.
IDK about Citi but I can ask my friends who hold that card.

please do so.

anirbandd said:
"Final FX rates and charges are applicable."

whats that?? and when is the USD gonna convert to INR?

Forex rates which is different from bank to bank

Zangetsu said:
Forex rates which is different from bank to bank

how much will i be charged????

anirbandd said:
how much will i be charged????

well u have to check with Bank website coz each bank sell & buy @ different rates

okay.. but when will be converted to INR?? i dont see it reflecting on my CC account summary.

What about students who do not have salary but the debts are cleared at a regular basis. How do they get their limit upgraded.

anirbandd said:
okay.. but when will be converted to INR?? i dont see it reflecting on my CC account summary.

I used HDFC and it got converted immediately at prevailing rates. Plus 2.5 percent extra as currency markup charges