Citi cards are among the most well-known and accepted credit card brands in the country. For many people who use their cards regularly, the annual Citi card cash advance fee may be a minor irritant. However, it can quickly grow into a major concern if you don't know what you're paying for. CITI cardholders may not be aware that they are entitled to a refund on their unauthorized purchases at any time during the year. As soon as the company realizes that a cardholder's expenses exceed the usual amount of available credit, the company will charge an exorbitant cash advance fee.
CITI cardholders who pay the cash advance fee on time may find that they receive a rebate check in the mail almost immediately. Some issuers may also offer this reward without having to post a balance due. Either way, the cardholder must make sure that the money they are receiving through the rebates or rewards will be applied to their balance within a few business days. Otherwise, the cash advance fee will be applied twice.
For CITI cardholders who pay their balances on time every month, the annual cash advance fee can seem like a reasonable trade off for acquiring low-interest rates on their purchases. Unfortunately, the convenience provided by CITI cards comes at a cost. Once the cardholder misses a payment, the CITI cash advance fee will be charged back. At times, the penalty may be so substantial that it will cause the cardholder to choose between paying cash to avoid the fee and making regular purchases at stores and businesses that do not accept CITI cards.
For consumers who need quick cash, CITI cards can provide a valuable resource. However, the annual cash advance fee can quickly become a disincentive to continue using the card. On the other hand, many consumers find that the convenience of cash advances makes shopping with credit cards worthwhile in the long run. For these consumers, the benefits of using plastic more than outweigh the costs of carrying cash.
When applying for a CITI card, the consumer must first choose a personal bank that accepts CITI cards. Once this decision is made, the applicant must next decide what type of CITI card he or she wants to apply for. The two main types of CITI cards are the card with a fixed cash advance fee and the card with a no-fee cash advance option. If a consumer needs cash fast, then a card with a fixed cash advance fee is best. The CITI card with a no-fee option allows the consumer to make cash purchases up to the limit set by the cardholder at participating merchants.
Because CITI offers a range of different cards, applicants must carefully review all the details before choosing one of the many cards. Many consumers, when applying for a CITI card, are impressed with the cash advance fee and assume that it is a very inexpensive fee. However, the cash advance fee is not included in all CITI cards and the fees vary significantly between cards. Therefore, it is imperative that applicants carefully review all the terms and conditions for each CITI card.
CITI also issues credit cards to people with good to excellent credit ratings. Although not everyone will qualify for a CITI card, those who do will often receive attractive rewards and benefits. These rewards may include cash back from CITI purchases or a lower interest rate on balance transfers. In addition, many credit card holders will receive free travel insurance when they make a purchase using their CITI card.
Those who own a CITI card can use them anywhere in the world with a participating merchant. CITI cash advance fees are very affordable, especially compared to bank fees or credit card payments. The benefits and features of a CITI card make them an ideal choice for any consumer who is trying to improve their financial situation. To learn more about CITI cash advances, visit their website.