Citibank Annual Membership Fees & other Credit Card Charges
We continue our Credit Card series here in PinoyMoneyTalk with a listing of annual membership fees and charges for local credit cards.
We know that it is expensive to maintain a credit card. That’s why we give you these updates so you’d be aware of all fees and charges, so you’ll realize the need to use your credit card wisely!
Here is a summary of fees and charges that apply to your Citibank credit cards.
Citibank Credit Cards — Fees and Charges
Annual Membership Fees
|Card Type||Principal Card||Supplementary Card|
|Shell Citi Classic / Mercury Drug Citi Classic||P1,800||P900|
|Citi Rewards Card / Megaworld Citi||P2,000*||P1,000**|
|Citi Gold / PremierMiles Gold / Rustan's Citi Gold||P2,500||P1,250|
|Citi Cash Back MasterCard / Cebu Pacific Citi Visa / Mercury Drug Citi Gold||P2,800*||P1,400|
|Shell Citi Gold||P3,000||P1,500|
|Citi Platinum / PremierMiles Platinum / Rustan's Citi Platinum||P5,000||P2,500***|
* For Rewards, Megaworld Cards and Citi Cash Back Cards, the succeeding Principal Card annual fee will automatically be waived when the cardholder’s annual spend is at least P180,000 every membership year.
** For Rewards Cards, the first three (3) Supplementary Cards are free for as long as each Supplementary Card is active. For Megaworld Citi Cards, the first two (2) Supplementary Cards are free for life.
*** The first Supplementary card for a Citi Platinum/PremierMiles Platinum /Rustan’s Citi Platinum is free for life.
|Citibank Credit Card||Retail Monthly Effective Interest Rate ****||Cash Advance Monthly Effective Interest Rate ****|
|Citi Classic/ Cash Back MasterCard/ Cebu Pacific Citi Visa Cards/ Megaworld Citi Cards/ Mercury Drug Citi Classic/ Rewards Cards/ Shell Citi Classic Cards||3.50%||3.64% inclusive of the Cash Advance Service Charge below|
|Citi Gold/ PremierMiles/ Mercury Drug Citi Gold/ Rustan's Citi Gold/ Shell Citi Gold Cards||3.25%||3.64% inclusive of the Cash Advance Service Charge below|
|Citi Platinum/ PremierMiles Platinum/ Rustan's Citi Platinum Cards||2.75%||3.64% inclusive of the Cash Advance Service Charge below|
**** Interest rates are quoted based on a 30-day period. For months with more (or less) than 30 days, the applicable interest rate shall increase (or decrease) accordingly. Interest is compounded monthly.
Other Fees and Charges
|For all Citibank Credit Cards|
|Cash Advance Service Charge||Service Charge of P500 or 3% of Cash Advance Amount, whichever is higher. Additional Fee of P500 if the Cash Advance is made over-the-counter.|
|Monthly Late Charge*****||P500 or 6% of Past Due Amount, whichever is higher.|
|Foreign Transaction Service Fee||3.525% shall be charged on the converted amount of foreign transactions representing the Bank's service fee and any assessment fee(s) charged by Visa/MasterCard.|
|Account Maintenance Fee||In case of any remaining overpayments on closed Card accounts, a monthly Account Maintenance Fee of P200 or the amount equivalent to the credit balance, whichever is lower, shall be charged to the Card account until the credit balance is zeroed out.|
|Availment Fee||P250 applicable for Balance Transfer and Balance Conversion.|
|Call for Cash Manager's Check Delivery Charge||P50 shall be charged for the delivery of the Manager's Check availed under the Call for Cash facility.|
|Cancellation Processing Fee||P300 applicable to PayLite Products and PayLite after Purchase; 4% of unbilled principal component of the Total Amount Payable applicable to products with Monthly Installment Dues: Balance Conversion, Balance Transfer and Call for Cash.|
|Card Replacement Fee||P400 for each lost/stolen Card.|
|Overlimit Fee||P500 if you exceed your credit limit by your Statement Date.|
|Returned Check Fee||P1,500 will be charged for every check returned due to reasons such as insufficient funds, uncollected deposits, stop payment order or closed account.|
|Sales Slip Retrieval Fee||P250 for each sales slip retrieved upon your request, for whatever reason. The same amount will be charged to you for each sales slip retrieved by the Bank arising from an invalid dispute.|
|Attorney's Fees and Liquidated Damages||In case of default in payment, the Cardholder is liable to pay, in addition to late and Interest Charges, the cost of collection and/or Attorney's fees and Litigation and Judicial expenses as applicable.|
***** How to Compute Minimum Amount Due:
P500 or 1% of your current billed balance will be charged, while Interest Charges and late charges indicated on your current statement will be billed in full together with monthly installments due, overdue amount and overlimit amount.
The total amount due will become your minimum amount due upon closure of account or if account becomes delinquent. The total amount due will be billed and will be used as basis for the computation of any late charges.
Take note: it could be financially disastrous to maintain a credit card, so make sure you properly manage your finances!
Use your credit cards wisely!
Must read these other awesome posts!
- How to waive or avoid paying annual credit card fees
- Too much credit card debt? Beware!
- ATM withdrawal fees and balance inquiry charges by Philippine banks
- All Credit Card Promos
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