Citibank recently launched Citibank Ready Credit. A sort of revolving overdraft facility 'pay-as-you-use' concept. Very similar to OCBC Malaysia's offering a couple of years ago Powercredit. Anyone applied? What are the documents required? I find this very attractive as it is flexible unlike the usual personal loans where they start calculating upon drawdown of loan amount.

This post has been edited by rockefeller: Nov 4 2010, 09:12 PM

This card is under category of debit or credit card?

I had a very sour experience with Citibank with their Phone-a-Loan program many years back. They are bloodsuckers. I will never do business with Citibank or let Citibank earn my money anymore.

Credit Card with OD facility I think. No cash rebate for card usage.

Its a debit card on a revolving credit checking facility.

I cant find the application form on their website. Horrible design

u cant say its a credit card. coz it doesnt offer u interest free period for full payment cardholders. The moment u swipe your card for purchases, u'll be charged interest. The benefit of this product is that since its a debit card on a revolving checking facility, u're able to withdraw cash thru ATM or issue cheques without incurring Cash Advance fee (unlike credit cards) .. and if u have extra cash, u shld settle the outstanding immediately (to reduce interest), no need to wait for statements..... since u r able to withdraw out again using ATM/cheque, it doesnt matter if u r out-of-cash after the settlement.

You can't apply for anything through their website since like more than a year ago. When you click apply or sign-up, you'll be prompted to leave your contact details and one of their sales person will be in touch with you very soon.

My cousin wanted me to ask for the T&C. He is very interested at the product but just shy of 21. Anyone got an idea on the minimum age requirement?

Needs to be above 21 to apply

Already ask citibank, only provided IC and other bank credit card to apply this debit card with checking facility. .

No. Should be at least 21-year-old.

so, has anyone actually applied?

what is the interest rate?

I think the interest rate is depend on the individual and the credit limit of the existing customer to calculate it.

The interest rate for RC are 0.05% per daily basis on outstanding balance.

Anyone who interested to know more about this Ready Credit(RC) can pm me your contact number and i will contact u guys to explain for it.BTW,i am staff from citibank

What type of the document needed and what are the requirement for this card?

interest rate damn high, it's equivalent to 18% pa or as good as cash withdrawal. Better go get OD facility.

anyone applied so far? what docs required? how's the limit determined?

The limit subject to managment approval.If u have credit card more than 1 years for other banks(except citibank) then u can attach a photocopy together with your IC . Otherwise you have to provide your income document example like payslip,EPF statement,bank statement and so on