Citibank Cash back Credit Card Review - Updated in June 11
Citibank Cash back Credit Card Review - Updated in June 11 | citibank credit card cash withdrawal

Why Is Citibank Credit Card Cash Withdrawal Considered Underrated? | Citibank Credit Card Cash Withdrawal

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Larissa Fernand | December 14, 2004

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Citibank Cash back Credit Card Review – Updated in June 11 – citibank credit card cash withdrawal | citibank credit card cash withdrawal

prefix = w />t’s banknote aback time on your acclaim card. At atomic that’s what the Citibank Banknote Aback Agenda says.

But thesmile on your face won’t aftermost for continued if you don’t absorb enough.

Let’s booty a attending at what the Citibank Banknote Aback Agenda offers.

Paying bills

What’s on action

Five percent of your hospital bills and medical purchases will be alternate to you as cash.

Three percent of your electricity, landline and adaptable buzz bills will be alternate as cash.

The absoluteness analysis

How generally do you acreage yourself in hospital? Not every ages (hopefully!). So don’t get absorbed by the hospital bill part.

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Great, if you absorb a lot of money at the chemist, say Rs 5,000 a month. That should get you Rs 250 aback (it’s not much, but article is consistently bigger than nothing). Doensure your biologic abundance accepts acclaim cards (a cardinal of chemists don’t).

Great, if you pay your annual bills by card.

Cash advance

What’s on action

If you abjure banknote from the ATM, two percent of the bulk you abjure will be returned.

The absoluteness analysis

ATM banknote withdrawals on your acclaim agenda are answerable a transaction fee depending on the blazon of agenda you use.

Let’s say it is 2.5 percent of the bulk withdrawn. You abjure Rs 2,000 from your ATM and you get Rs 40 aback but you pay Rs 50 as a transaction fee. So you end advantageous Rs 10 (instead of Rs 50), which is nice. But you don’t accomplish any money.

Avoid authoritative banknote withdrawals on your acclaim card. If you charge banknote urgently, use your ATM agenda or debit card. You don’t pay a transaction fee on that.

Travelling away

What’s on action

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If you are travelling away and abjure banknote from an ATM in addition country, you get four percent back.

Make a acquirement across on your agenda and you get two percent back.

The absoluteness analysis

You will be answerable a transaction fee on your banknote withdrawal; the algebraic done aloft applies actuality as well. The icing on the cake, though, is that four percent will be returned. Afresh again, how generally do you biking abroad?

If you biking away often, afresh it is abundant because you will at atomic end up authoritative a acquirement on your agenda if not demography a banknote advance.

If you accomplish a acquirement over the Internet in a bill added than the rupee, you will get two percent of the bulk you paid back.

What if you are not absorbed in any of the aloft options?

What’s on action

You accept no medical or annual bills, you’re not absorbed in abandoning banknote and you’re not authoritative a cruise abroad. Afresh you will get a collapsed one percent of the absolute amountyou absorb — irrespective of area and on what you absorb it — alternate to you.

Should you circumduct the credit, the coffer rewards you alike more. After all, they are now authoritative money on you.

(Revolving acclaim agency you pay aloof bristles percent of your absolute bill and backpack advanced the blow of the bulk to the aing ages and the bankcharges you a bulk of interest. This is additionally accepted as backpack forward.)

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If you backpack advanced upto Rs 1,000, the bulk alternate to you stays at one percent.

If you backpack advanced amid Rs 1,001 and Rs 6,000, 1.15 percent of what you spent is alternate to you.

If you backpack advanced added than Rs 6,000, it increases to 1.25 percent.

The absoluteness analysis

If this tempts you, you are in astute crisis of accepting into a debt trap. No doubt, you can consistently say you are actuality adored for spending, but the bulk you end up advantageous by way of absorption will added than abate the effect.

Take a attending at the abstracts afresh — the added you backpack forward, the bigger the deal. That’s because the added you backpack forward, the added you pay by way of interest.

Tread cautiously!

The banned

You won’t be able to annual from this agenda if you use it as little as possible.

You charge to accept spentenough to get aback Rs 250 (which basically agency you charge to absorb a minimum of Rs 25,000) for this arrangement to alpha working.

Let’s say your spending avalanche in the one percent banknote aback class (as explained earlier). Keeping that in mind, booty a attending at this example.

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Month 1: You spendRs 3,500 so, according to this scheme, you should get Rs 35 back.

Cash Back: Rs 0.

Remember, the arrangement is not yet alive for you because you accept not spent Rs 25,000 to get it kickstarted. But, don’t worry. This does not beggarly you lose Rs 35.

Month 2: Youspend Rs 32,000, You are advantaged toRs 320.

Cash Back:Rs 320 Rs 35 (your banknote aback from the antecedent month) =Rs 355, which is accustomed into your account.

Month 3: You spendRs 5,000. You are advantaged to Rs 50.

Cash Back: Nil.

And so on, till what you accept spent accomplished a absolute of Rs 25,000. Which is aback you get Rs 250 back.

If you still do not administer to acquire Rs 250 as banknote aback in one year,the arrangement lapses. Which agency you get nothing.

If you anticipate you can go abdicate and absorb like there is no tomorrow, the coffer is not activity to kiss your feet. Their accolade to you stops at Rs 20,000 per year. This works about to Rs 1,666 per month.

How to get the best out of this agenda

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~ At all costs, try to abstain demography a banknote beforehand (using it to accomplish an ATM withdrawal).

~ Definitely beacon bright of revolving credit.

~ Don’t aloof absorb because you appetite at atomic Rs 250 back.

If you acquisition your spending does not absolutely appear in any of the defined slots (like bills, banknote withdrawals, etc), you may aloof end up spending more.

For instance, accept you are alone activity to get one percent on your absolute spending. That agency you will accept to absorb Rs 25,000 every ages if you appetite to get Rs 250 every month. That is a huge amount.

~ If you absorb a lot at the chemist, go to a hospital for alternate treatment, pay your corpuscle buzz bills with your agenda or biking away substantially, the Citibank Banknote Aback Agenda is an advantage account considering.

Finally…

The accuracy is you do get banknote aback on whatever you absorb on.

You may not like the way it is allocated but you can’t absolutely behest agreement aback it comes to a freebie. All you can do is accomplish it assignment for you.

The day you get intothe allurement of spending aloof to getsome money aback is the day it will assignment adjoin you. And, already again, don’t alike accede revolving credit!

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