An Introduction To The Citi Mastercard

The Citi MasterCard is a popular credit card issued by Citigroup

. There are a number of cards released under the Citi brand and carrying a MasterCard logo, but this article will look at the standard Citi MasterCard, which is one of the most common cards in Canada.

The card works in the same way as most credit cards. Those who are accepted for the card will be assigned a credit limit, and they can then pay for goods and services on the card, up to a total amount that is not greater than the credit limit.

The card can be used anywhere that accepts MasterCard as a form of payment - a total of 25 million outlets worldwide. Account holders can also withdraw cash from their account at any ATM that displays the MasterCard logo, though there is a fee charged for this service.

The assigned limit can vary depending on status, but will often be a few hundred dollars to begin with. Going over this limit results in a $29 over-limit fee being charged to the customer, and brings with it a resultant blemish on an individual's credit report.

The customer will receive a monthly statement from Citi, and will be required to make a payment of at least a stated minimum amount before a set due date. Failure to make this payment on time will result with the cardholder being hit with a late payment fee. Any amount of the balance that is not paid off will have interest added to it.

Although the above is largely the same as vast majority of credit cards, the Citi MasterCard does have several unique benefits. The first of these is Citi Price Protection, which provides customers with an amount of refund if they find a product they have purchased is advertised cheaper elsewhere in the following 60 days.

Citigroup are also an established and reputable company who are renowned for their excellent customer service. People who own the Citi MasterCard are entitled to toll-free 24/7 customer care - something which is becoming increasingly rare for credit card companies to offer.

There are also additional security and convenience features that the Citi MasterCard offers the customer, including advanced identity theft technology, early warnings if fraud is detected and a zero liability policy should your card fall into the wrong hands.

As with all credit cards, those who are thinking about applying for the Citi MasterCard should carefully read the terms and conditions of the cardholder agreement before applying. Interest rates and credit limits can vary, and there are various fees and charges that it would pay to be familiar with before making the application.

by: William Trustey

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