• Citi Corporate Credit Card

    Credit Card BYTES FROM OUR KITCHEN

    Citi Corporate Card Promotions

    Are you a corporate professional? Do you have a Citibank Credit Card yet? Well, with these excellent promotional offers, you might definitely want to go for the Citi Corporate Credit Card. Here are some promotional offers for 2017:

    • Asiatravel.com
      • Use your Citibank Corporate Credit Card and enjoy discounts of up to 9% on bookings made on Asiatravel.com.
      • The offer is valid on select bookings and is valid only if you use your Citibank Credit Card to make the payment on Asiatravel.com.
      • The promotional offer is valid till 31 December, 2017.
    • Foodpanda
      • Use your Citibank Corporate Credit Card and get up to 25% off on Foodpanda orders. The discount is valid on a minimum expenditure of S$35.
      • The offer is valid till 31 December, 2017.
    • Chope Shop
      • Purchase Chope Shop vouchers using your Citi Corporate Card and enjoy discounts of up to 10% at popular restaurants.
      • The offer is valid till 31 December, 2017.
    • Emirates
      • Enjoy a 10% discount on Flex Plus and Flex fares on emirates, and a 5% discount on Saver Fares when you use your Citi Corporate Credit Card to make your bookings.
      • The offer is valid on bookings till 31 December, 2017 for stays up till 31 March, 2018.
    • Ali Express
      • Get a 5% cashback on purchases made using your Citi Corporate Credit Card.
      • The offer is valid till 31 December, 2017.
    • Hipvan
      • Get a 10% discount across Hipvan stores in Singapore with your Citi Corporate Credit Card.
      • The promotional offer is valid till 28 February, 2018.

    Citi Corporate Credit Card

    This card is a great choice for businesses, offering commercial and enterprise-wide benefits that can be converted into savings and efficiency. The Citi Corporate Credit Card is available with both Visa and MasterCard payment systems.

    Features Of Citi Corporate Credit Card

    • The Corporate Card is available for 4 kinds of companies: Sole Corporate Liability, Personal Liability, Cardmember Liability or Joint & Several Liability.
    • You can get individual corporate credit cards for multiple employees in your company under this plan.
    • Your employees are eligible to apply for Personal Liability Corporate Cards to ensure that the corporate and personal expenses do not mix up.
    • Save time and energy by using Citi Corporate Card’s single payment solution. This reporting solution allows you to settle and track expenses without using much of your resources or time.
    • Get an expense management tool that is appropriate for your company type.
    • Travel and Corporate Liability Waiver insurance is available for free with these cards.
    • Access contactless payment methods such as Visa PayWave and MasterCard ContactLess

    Rewards:

    • Sole Corporate Liability cardmembers get 0.3% cashback of the company’s annual spending, if you use your credit card to pay for all your business expenses.
    • Joint & Several Liability cardholders get either a 0.3% cashback of the company’s annual payments, or 1 Citi Dollars for each S$1 spent in addition to a maximum of 10% Citi Rebate at selected outlets.
    • Cardmember Liability and Personal Liability card owners get 1 Citi Dollar for each S$1 spent. You also get up to 10% Citi Rebate at selected stores.

    The reward points can be redeemed for either cash rebate or rewards from the product catalogue. Citi Dollars can also be converted into selected Frequent Flyer Programmes. Five Citi Dollars is equivalent to 2 Frequent Flyer Miles.

    Benefits Of Citi Corporate Credit Card

    • Get special offers through the Citibank Business Privileges Programme, including discounts on hotel bookings and travel plans.
    • Get special rates with Citibank’s Preferred Travel Partners.

    Insurance Provided By The Card

    Citi Corporate Cards come with free Travel Accident Insurance coverage of up to S$1 million per cardmember (subject to your entire trip expense being charged to the credit card), free Corporate Liability Waiver Insurance coverage of up to US$25,000 per cardholder, and a cover of US$1.65 million per company for misuse of the card by employees. The full coverage details for Travel Accident Insurance are as given in the table below:

    Death when using public transportation during your travel Up to S$1 million
    Total permanent disability resulting in inability to find employment S$1 million
    Flight delay/misconnection Up to S$250
    Luggage delay Up to S$250
    Luggage loss Up to S$850

    Instalment Payment Plans:

    You can pay for your purchases in instalments to be repaid over a period of 2 years, under the 0% Equal Payment Plan (EPP). You can use this facility at around 1,000 participating stores. EPP transactions will not qualify for any cashback or reward point plans, and the usual card interest charges will be applicable if you do not make monthly payments on time.

    Fees And Charges:

    Annual fee S$160.50 per card
    Interest rate (annual) 26%
    Late payment charges S$80
    Cash advance fee 6% or S$15, whichever is higher
    Interest on cash advance (annual) 26.9%
    Interest-free period 28 days from statement date for Sole Corporate Liability 25 days from statement date for the other type of cards

    An additional 3% interest will be levied on credit card and cash advance if you haven’t made the required payment by statement due date.

    Overseas Use Of The Card

    For foreign currency transactions, an administrative fee of 2.5% – 1.5% levied by Citibank and 1% by Visa or MasterCard – is applicable. A currency conversion fee of 1% will be charged for purchases made outside Singapore using Singapore dollar.

    Cash Withdrawals:

    Citibank Corporate Credit Card holders can also access the Cash Advance facility, through which you can withdraw cash from your credit card in a moment’s time from any Citibank or Visa/MasterCard supported ATMs. You have to withdraw at least S$1,000 and a maximum of your available credit limit.

    The bank also has If you have the patience to wait for a term loan, you can apply for Citibank Quick Cash Instalment Loan. To get this loan, you can do one of the following:

    • Visit a Citibank branch
    • Call (+65) 6238 8888
    • Apply online through Citibank website

    The minimum withdrawal is S$1,000, and the repayment period is 12 to 60 months. The loan will be approved within an hour if all the documents are in order. The effective interest rate is between 13.63% and 15.80%, with both preferential interest rate plans and normal interest rate plans.

    How To Apply For Citi Corporate Credit Card

    To apply for Citi Corporate credit card, you can either visit a Citibank branch, or go to the bank’s website. On the website, go to the Citi Corporate Card page and click on ‘Contact Me’. You will be taken to another page where you can fill in your basic information and get the bank to contact you. Once the bank executive calls you, s/he will take you through the application and approval process.

    Eligibility Criteria For Citi Corporate Credit Card

    • Minimum age for employee: 21 years
    • Minimum net worth of the company: Starting from S$50,000 (depends on how old the company is)
    • Minimum annual income:
      • For Sole Corporate Liability and Joint & Several Liability: S$30,000 for both Singaporeans/PR and foreign employee
      • For Cardmember Liability and Personal Liability: S$30,000 for Singaporeans/PR and S$42,000 for foreigners

    Documents Required:

    You will be required to produce documents of your company’s incorporation, employee strength, payslips of employees for personal cards, etc. You can contact the bank for complete details on documentation.

    Repayments:

    The minimum repayment amounts for various iterations of Citibank Corporate Credit Cards are listed in the table below:

    Type of card Minimum payment due
    Sole Corporate Liability None. You have to make the full payment every month.
    Joint & Several Liability, Cardmember Liability and Personal Liability 1% of current balance AND 1% of outstanding balance (if applicable) AND interest charges AND late payment charges (if applicable)

    Reporting Lost/Stolen Credit Cards

    Companies are covered by Corporate Liability Waiver insurance for up to US$1.65 million for misuse of the card by employees. Employees are covered for up to US$25,000 for lost cards. As per the Association of Banks in Singapore (ABS) regulations, if the cardholder loses their credit card or it is stolen from them, their liability towards fraudulent use is a maximum of S$100. The employee has to ensure that the bank is informed the moment the loss is discovered in order to benefit from the S$100 maximum liability clause. Appropriate legal measures such as filing a police report also needs to be taken by the company/employee in case of theft or cyber fraud on the credit card. Both the insurance amount and minimal cardholder liability can be availed only if the right steps are taken after you lose the card, and if the bank is convinced that the company/cardholder has not acted in a deceitful way to benefit from the insurance.

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