The Citibank Prestige Credit Card is an excellent option for affluent people who want to maximize their travels. Citibank has been offering its Prestige Credit Card to different nations. Powered by Visa, this elite card caters frequent flyers and people who want to earn rewards and privileges every time they book airplane and hotel accommodations in various places and purchase goods and services.
Citibank Credit Cards
Citibank offers a complete line of credit cards for different customers with distinct spending requirements and preferences. These cards are categorized as shopping, travel, rewards, and lifestyle, wherein the Citibank Prestige Credit Card belongs.
The Citibank Prestige Credit Card is one of the bank’s elite cards designed for people who love travel and leisure. Customers of this card can get many advantages and perks specified below.
Citibank Prestige Credit Card Benefits
Every year, customers can get 10,000 bonus air miles and vouchers amounting to INR10,000 from ITC Hotels or the Taj Group.
Cardholders can also enjoy exclusive rewards program where they can earn one reward point locally, and two reward points overseas for every INR100 spent using the Prestige Card. They can redeem the points as discounts or privileges at various outlets all over the world.
Customers can also gain the luxury of playing at different golf destinations across India and around the world.
Citi Prestige cardmembers will have access to 33 city guides handpicked exclusively by LUXE City Guides where they can enjoy high-level hotel accommodation, dining, and entertainment.
However, to avail all these perks, cardholders should earn more than INR300,000 a year and are ready to pay INR20,000 every year for the card’s annual fee.
Citibank Prestige Credit Card Application Process
Interested applicants can check the Citibank website. After submission, a bank representative will call for additional details. The representative may request applicants to show proof of identity that they are between 21 to 65 years old and an Indian citizen or permanent resident. For the Prestige Credit Card, Citibank also accepts applicants with a yearly income of at least INR300,000 and those who have a CIBIL score of over 700.
Upon approval, Citibank will give its Prestige Credit Card customers a credit limit of approximately INR100,000 which may be higher or lower depending on credit history, financial status, and spending behaviour.
Fees and Interest Rates
The Citibank Prestige Credit Card has a high annual fee of INR20,000. The bank will also charge different fees including cash advance fee worth INR300 or 2% of the amount withdrawn per transaction, whichever is higher; and late payment fee of INR100.
The interest rate for this card varies from 3.10% every month or 37.20% every year to 3.40% every month or 40.80% every year. This card has no interest-free period.
In summary, the Citibank Prestige Credit is designed for people who can afford to travel and spend frequently to avail the discounts and privileges. Experts recommend prospective card applicants with a yearly budget of INR250,000 to choose more affordable credit cards.