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    Citi Corporate Card for Business Expense Management: Review

    Credit Card Application

    This card provides single payment solution for businesses.

    • Single payment solution that helps you keep an eye on your employees’ business-related expenses and costs.
    • Flexibility to choose from card liability options to match your business requirements. It allows you to choose between joint and several liability, sole corporate liability, and cardmember liability cards.
    • Allows employees to apply for a personal liability corporate card, if they wish to keep their personal expenses separate from business-related expenses.
    • Offers 0.3% cashback on the company’s annual spend or one Citi Dollar for every S$1 spent, depending on the type of card you choose.

    Best suited for: Companies that have net worth of at least S$50,000 and are looking for a single payment solution to manage their employees’ business-related expenses.

    Key Features & Benefits of This Corporate Card

    Feature Description
    Annual fee S$160.50
    Rewards on Sole Corporate Liability 0.3%
    Rewards on Joint & Several Liability 0.3% or 1 Citi Dollar for every S$1 spent. Additional 10% Citi rebate at select merchants
    Rewards on Cardmember Liability and Personal Liability 1 Citi Dollar for every S$1 spent
    Complimentary travel insurance Up to S$1 million

    Any Other Benefits?

    • Enjoy access to Citi’s cloud-based B2B procurement platform, Renepay, which has a range of suppliers with whom you can strike business deals.
    • Choose between joint and several liability, sole corporate liability, and cardmember liability type of cards.
    • If an employee wishes to have a separate card for their personal expenses, they can apply for a Personal Liability Corporate card. This way they will be able to earn rewards on their personal expenses while they are travelling for work.
    • Additionally, cardholders will enjoy contactless payments at Visa payWave terminals, if the transaction is below S$100.
    • Complimentary travel accident coverage of up to S$1 million per cardholder, provided the full travel expense is charged to the card.
    • Complimentary coverage of up to US$1.65 million per company or US$25,000 per cardholder for protection against misuse of card by the employees.
    • The card is accepted globally at millions of merchants.

    How Can You Earn Rewards?

    Sole corporate liability: Cashback of 0.3% of your business’ annual spending.

    Joint & several liability: Cashback of 0.3% of your business’ annual spending or reward points in the form of Citi Dollars (1 Citi Dollar for every S$1 spent). Additionally, you will earn 10% Citi Rebate when you make purchases at participating merchants.

    Cardmember liability and personal liability: 1 Citi Dollar for every S$1 spent. You can redeem your reward points for cash rebate or other various rewards. An additional 10% Citi Rebate will be credited to your account when you make purchases at participating merchants.

    Take a look at some the terms applicable to the rewards programme on the Citi Corporate Card:

    • Citi Dollars expire after one year.
    • Your account must be in good shape to be able to earn reward points.
    • There is no cap on how much rewards you can earn in a month.

    Let Us Illustrate:

    Assume that you have purchased five Citi Corporate Cards for your employees, with sole corporate liability. Take a look at the table below to see how much cashback you can earn in a month on these five cards:

    Spend category Monthly spend Cashback rate Cashback amount
    Travel S$5,000 0.3% S$15
    Dining S$2,000 0.3% S$6
    Entertainment S$1,500 0.3% S$4.5
    Total S$8,500 Cashback earned: S$25.5

    What Does the Complimentary Insurance on This Card Cover?

    Coverage type Coverage amount
    Accidental death S$1 million per insured traveller
    Permanent disablement Up to S$1 million per insured traveller
    Baggage loss Up to S$850 per insured traveller
    Baggage delayed Up to S$250 per insured traveller
    Flight delay or misconnection Up to S$250 per insured traveller
    Corporate liability waiver Up to US$25,000 per cardholder or up to US$1.65 million per company

    Who All Will be Covered by the Insurance?

    The complimentary travel insurance covers any employee who holds this card and who is under 70 years old, residing in Singapore or outside Singapore. The employee can be a Singaporean, Singaporean PR, or foreigner.

    What is the Interest Rate of This Card?

    Type of interest Charge
    Retail purchases 26.9% p.a. or S$3 per month, whichever amount is higher
    Cash advance 26.9% p.a. or S$3 per month, whichever amount is higher
    Instalment payment plan 0%

    What Other Charges are Levied?

    Type of charge Charge
    Overseas transaction fee Up to 2.8%
    Late payment fee S$100
    Cash advance fee S$15 or 6% of the withdrawal, whichever amount is higher
    Supplementary card fee Not available

    Check Eligibility to Apply for this Card

    You are eligible to apply for this card provided you satisfy the following conditions:

    • Your company’s minimum net worth is at least S$50,000. This will, however, depend on how many years your business has been operational.
    • Your employees must be at least 21 years old.
    • Minimum annual income requirement:
      • Sole Corporate Liability/Joint & Several Liability - S$30,000 for Singapore citizens, Permanent Residents and foreigners.
      • Personal Liability and Cardmember Liability - S$30,000 for Singapore citizens and Permanent Residents; S$42,000 for foreigners.

    Do I Have to Activate the Card for Overseas Use?

    Yes, you will have to get the card activated before you can use it overseas. The magnetic stripe, which is still being used in many counties to process POS transactions, is deactivated to ensure your protection from fraudulent transactions. It can be activated through SMS, phone banking, mobile app, or through internet banking.

    What Instalment Payment Plans are Available?

    Equal Payment Plan

    This plan allows you to convert your large credit card purchases into interest-free, monthly instalments. You can choose to convert your purchase into instalments of up to 24 months. Citi’s Equal Payment Plan applies only to the transactions made at participating merchants.

    PayWise

    Under this plan, you can convert your credit card purchases worth S$500 or more into six monthly instalments. A one-time service fee of 5% will be charged.

    What If My Card is Lost/Stolen?

    In such an event, you must report the incident to the bank immediately. You can report the incident through your Citi mobile app, if you have Citi online account. If you don’t have an online account, you can call 24/7 CitiPhone banking line.

    If there are any unauthorised transactions on your card, your liability will be limited to S$100. However, you will have to prove that you took all possible steps to prevent the loss/theft.

    If you are looking to get relevant information about financial products in Singapore and want to know the perks of credit cards explained properly, you can search on our website. Here you can get familiarised with the features and benefits of all available cards in detail.

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