Citi card minimum monthly fee, and no 0%

DrMann

I've just recieved a Citi Platinum card which I wanted for the 0% purchases offer.

The problem is there's no mention of any 0% offer in any of the literature along with the card.

Even more worrying, in the terms and conditions it says I need to pay at least £5 / month, apparently regardless of whether I am in debt or not!

Quoting:
"3 Unless we tell you otherwise, the minimum amount you must pay on your Account will be (where applicable):
3.1 the greater of £5/$10 or 3% of the Non-Citi Payments Balance; plus
3.2 the Citi Flex Payments Monthly Installment"

I think I'll cancel it.

Is it normal to have a minimum monthly fee?
Can anyone recommend a good card with a 0% on purchases offer?

Thanks.

Clariman

Stay calm

All credit cards ask you to pay a minimum monthly payment, even if you have a 0% introductory offer on purchases (or Balance Transfers). Don't confuse minimum monthly payment with interest - they are 2 different things. If you have a 0% rate then the minimum monthly payment you make will be paying off the amount owed so your balance will reduce.

Citibank have a habit of sending out standard Ts & Cs which don't mention the special deal. Phone them up to double check and make a note of the date and time of the call and who you spoke to. Store that information away safely just in case they do charge you interest. However, I suspect everything will be just fine.

Clariman

Clariman

By the way, the Citi Platinum card has only 3 months 0% on purchases unless you have found a card of theirs that I am not aware of. It has 12 months on BTs but only 3 on purchases.

And just to point out, that they have a 3% minimum monthly payment, so you will need to pay £30 per month for each £1000 of balance.

Clariman

Chris2000

DrMann wrote: »

Even more worrying, in the terms and conditions it says I need to pay at least £5 / month, apparently regardless of whether I am in debt or not!

Quoting:
"3 Unless we tell you otherwise, the minimum amount you must pay on your Account will be (where applicable):
3.1 the greater of £5/$10 or 3% of the Non-Citi Payments Balance; plus
3.2 the Citi Flex Payments Monthly Installment"

Yes condition 3 is badly worded. If the balance outstanding is £0 then the minimum payment is £0.

See also condition 24.12 "You should not put your account into credit." etc.