Citibank Credit Card

Cards And Big Purchases – Making The Most Out Of It

It is always advised that it if you have a Citibank credit card in your wallet, or any other credit card for bad credit, you should primarily use it for bigger purchases. A lot of people using credit cards usually complain of this one thing which is that their smaller purchases such as grocery shopping or maybe online orders make up for a lot of expenses at the end of the month. This is because when we let them go unchecked, they tend to accumulate faster at the end of the month and that amount is enough to almost give you a heart attack.

The Best Way To Avoid This Situation Is To Use Cash
Yes save up for your small purchases in cash so that you can stay away from any credit card debt. You should use that cash for your regular and small expenses and leaves the big purchases for your Citibank credit card. This helps you reap the reward points at the end as well.

Creating A Strict Timeline For Your Big Purchases
Yes, this also helps you use your Citibank credit card wisely because you will be adhering to a strict timeline set by no one else but you. You know that you will have to pay a bit of interest at the end of the month by spreading out your payments widely. But that is alright because a lot of credit cards also offer an introductory 0% APR in the beginning. You can use this period intelligently and stick to your plan carefully so that you can pay off the entire amount on time. It is also advised not to use your credit card again until you have paid off the entire amount of one particular big purchase in full. It is never a good idea to carry forward any balance or any outstanding amounts on any of your credit cards.

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What you should know before getting a credit card?

The Citibank Credit Card has a lot of benefits you can not even think of. The main reason behind the invention of the credit card is to help a person in fulfilling their financial needs. When there is a lack of money or you do not want to carry cash, a credit card can help you in a lot of ways. The level of benefits you can avail through credit card is directly proportional to the credit score you are having.
Neither banks, nor companies but your credit score decides whether you can get a credit card or not. Having an Excellent credit can help you in availing credit cards for excellent credit. The interest rates of these types of credit cards are generally low. You can also enjoy other benefits like reward programs, cashback, improved credit score etc.

In case you are not having a good credit score, there are two options for you. Either you can go for a secured credit card or you can improve your credit score first. If there is an urgent need for a credit card then you should choose a secured credit card as the other option needs time. By choosing a secured credit card you can also build your credit slowly. As the name suggests, these secured cards have some security services which can save you from getting under debt. Before availing these cards you have to deposit some amount as a token. If you fail to repay the money used through credit card, the provider can use this collateral to fulfill their loss.

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Positive Things about Credit Cards to Look Out For!

Citibank Credit Card – What Is It And Its Features

Citibank is one of the established banks offering a wide range of credit cards. The Citibank credit cards designed to meet the needs of shoppers. Consumers with good to excellent credit have better options for Citibank credit cards. A cardholder with a Citibank credit card can avail different benefits like:

The Annual Fee Is Zero: There is a wide range of Citibank credit cards that comes with no annual fee. These cards are available for valued customers.

No Need To Carry A Cash: The Citibank credit card eliminates the hassle of carrying cash anywhere. This card is enough to pay for the shopping bills, groceries, so more.

Best Reward points: A user can avail maximum reward points using the Citibank credit card.

Extra Security To Users: The Citibank credit card comes with enhanced security for the users.

Dining Discount Or Offers: With Citibank credit card, a user can also a maximum discount on the dining bill.

How To Choose The Right Citibank Credit Card?

Citibank is offering a wide range of cards from those with low interest, no annual fee, to options with rewards. If your credit profile matches the requirement of Citibank credit card, then you can apply for it. To pick the right Citibank credit card, you also should consider comparing the interest rates, APR, annual fee, and credit card benefits.

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Maintaining Balances And Credit Limits Like A Pro – Your Citibank Credit Card Demands More Attention

If you have already applied for a Citibank credit card, you are probably on the track of rectifying your finances and avoiding all probable credit card debt in the future. You need to know that your balances and credit limits make for 30% of your FICO score. When you have a new credit card, you will eventually start buying new things with it. Now, any amount that you spend on this financial instrument is going to be added to your balance. This is the amount that you will owe to the credit card company.

Such a balance is also called credit card debt. Remember, if you have more than one credit card, the balance and credit limit of each one of them is going to be very important, especially when you are calculating your credit scores. If not taken care of on a regular basis, your balance and credit limit is going to have a negative effect on your credit score.

Is 30% Of My FICO Score Actually Based On The Amounts I Owe?
Yes, 30% of your FICO score will be based on the amount owed by you. It is a rather significant category of your credit report. Any lender / bank / financial institution is going to take this into consideration. They will also consider the following information in your credit card report:

How many accounts owned by you have any balances?
The balance on each of your accounts in comparison with the credit limit that they possess
The total balance across all your accounts in comparison with the total credit limit that they possess

Using Your Credit Limit On Your Citibank Credit Card Wisely
It is always advised that you use your Citibank credit card wisely. The leading credit scoring models are going to examine how much of your available credit is being used on each of your cards. They will also ascertain how much of your total credit limit is being utilized across all your cards. A certain percentage of the credit limit you are using will be calculated by the lender. This percentage is called your credit utilization ratio. Remember, if you are using a high percentage of your credit limit, it can be seen as a very risky behavior on your part.

Any bank / financial institution might think that you are over extending yourself financially and may eventually encounter some trouble when it comes to paying your bills at the end of the month. Do bear in mind that maxing out on your credit cards is going to have a dramatic negative effect on your credit scores. Therefore, always use your Citibank credit cards wisely.

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Bring In Citibank Credit Card, Bring In Easy Finances