An In-Depth Look at First Citizen Citi Credit Card: Benefits, Fees, Eligibility, and Review

Citibank is known for launching unique credit cards in India. The First Citizen Citi Credit Card is presented by Citi as a solid choice for people looking for a trustworthy credit card having a strong package of benefits, making it an excellent option for both experienced credit card users and those just starting out in the financial landscape.

In this review we will test the claims made by Citi and review its advantages, potential downsides, associated costs, and eligibility requirements, empowering you to make a well-informed decision.

Benefits of the First Citizen Citi Credit Card

The First Citizen Citi Credit Card has an impressive array of benefits that cater to diverse consumer needs.

Reward Points

One of the standout features of this credit card is its reward points system.

• 1 RP = Rs. 0.6.

• Customers get 14 First Citizen Reward Points/Rs.200 spent on private brand apparel at Shoppers Stop (i.e., 7 reward points for every INR 100 spent, Cashback Rate:4.2%).

• 10 First Citizen Reward Points/Rs.200 spent at Shoppers Stop on other brands(i.e., 5 RPs for every INR 100 spent, Cashback Rate: 3%).

• 10 First Citizen Reward Points/Rs.200 spent at Homestop, Arcelia, M.A.C, Clinique, Estee Lauder, Bobbi Brown, Jo Malone & Smashbox (Cashback Rate: 3%).

• 2 First Citizen Reward Points/Rs.200 on other spends (Effective Cashback Rate: 0.6%). 

Welcome Benefit

Creditcard holders get 500 First Citizen points worth Rs.300 on their first spend within 30 days of card issuance. 

Other Benefits

The credit card has many other benefits such as dining privileges, a complimentary upgrade to Golden Glow tier First Citizen membership.

Cons of the First Citizen Citi Credit Card

While there are many advantages, it is important to consider some disadvantages of the First Citizen Citi Credit Card.

Low General Cashback Rate

The card has low general cashback rate which limits its appeal with middle class Indians.

Limited Perks

The card does not offer free movie tickets or free airport lounge visits. Overall the perks its offers are mediocre.

Fees and Charges

• Joining Fees: INR 500 + GST.

• Annual Fees: Zero Annual fees on annual spends of Rs 30,000 or more.

• Interest Rate: 3.75% per month (i.e., 45.00% annualized).

• Cash Advance Charges: 2.5% of the transacted amount or Rs. 500 (whichever is higher). 

• Late Payment Charges: Ranges from INR 100 to INR 1300. 

• Foreign Currency Mark-up Fees: 3.5% on all foreign currency spends.

Eligibility for the First Citizen Citi Credit Card

The criteria for qualifying for the First Citizen Citi Credit Card are essential to understand.

• The applicant should be between 23 and 60 years of age.

• The applicant should be resident of India.

• The applicant should be either salaried or self-employed and have a decent credit score.

Conclusion

In summary, the First Citizen Citi Credit Card is suitable only for those individuals who shop frequently from the Shoppers Stop store. The card offers low general cashback rate and a limited nuber of perks.

By carefully evaluating personal spending habits and understanding both the advantages and disadvantages, individuals can make a knowledgeable choice about whether the First Citizen Citi Credit Card fits their financial goals. Taking the time to assess these factors will lead to an informed decision, ensuring your credit card choice aligns with your financial aspirations.

If you want to read a more detailed review of this card and find out its AI-powered unbiased rating click here.