Citibank offers three types of credit cards; Silver, Gold and Platinum cards. The Silver card is the equivalent of a standard credit card while the Platinum and Gold cards are the prestige credit cards. There is also a Citibank Clear card range and cards that are offered in conjunction with BP and Emirates airline.
The cards are processed by MasterCard, the second largest credit card processor in the world.
The prestige cards have attractive balance transfer deals. The Silver and Gold cards offer the same low interest rate, for six and twelve months respectively. The platinum card has a higher balance transfer rate but it is available for as long as the card holder has the card. However if the card has any repayments these are set off against any low interest transferred balance before it is set off against any spending or cash transfer.
The credit limits differ according to the card. The Silver card has a maximum credit limit of $7,500. The maximum credit limit on the Gold card is somewhat higher at $60,000 while for the platinum card the credit limit can be as high as $100,000. These are maximum credit limits and the credit limits may change according to the individual circumstances of the borrower.
The cards have different thresholds, usually decided by credit scores and income. The silver cards are the most permissive and despite their name they are really the equivalent of a standard card. The Gold card is higher and the platinum card is designed to be “beyond gold” with the highest score.
The cards also have different annual fees, with the gold card charging $149 per year and the platinum card charging $250.
The gold and platinum cards offer purchase cover for goods bought on the card. This is active for the first 90 days of the purchase. Travel insurance is also available, which covers tickets that are purchased with the card. The travel insurance covers medical treatment abroad as well as cancellations and lost luggage. The travel insurance for the platinum card is for a significantly higher amount than the gold card.
The platinum card offers a concierge service which is access to personal assistants who are able to do a wide range of time consuming and mundane jobs such as arranging meetings and personal shopping. With the platinum card there is also a personalised rewards program, where points accrued on the card can go towards any type of leisure activity. There is also complete account management which is a form of prioritised customer service.
