Citibank’s New Credit Card – Citi Clear Card

Thinking of getting a credit card but didn’t meet the income requirement of minimum of at least S$30,000 per annum?

No worries, there is hope for you now.

Citibank’s latest addition to it’s credit card range: Citi Clear Card

But the credit limit cap at just S$500 and once you spend more than that, further purchases will be declined until payment is received !!!

Pros of Citi Clear Card:

1) No minimum income needed
2) Anyone above 18 years old can apply

Cons of Citi Clear Card:

1) Credit limit cap at S$500
2) Credit card will be temporarily suspended if minimum payment is not received by due date
3) Monthly paper statement cost S$1 (no cost for electronic statement)

This credit card looks cool and the credit limit cap of S$500 can really restrict your spending so that you will not overspend.  I like the idea of the credit limit cap.

I don’t really recommend peoples with no income to apply for credit card. It will just get them into greater debt and more debt. But the credit limit cap of S$500 Citi Clear Card should be able to do the trick.

Actually I am thinking of applying for this card only to find out that card applicant must NOT already hold a Citibank Credit Card or Ready Credit account. Well, I am disqualified since I already have some Citibank Credit Cards and a Ready Credit account.

Since I am unable to apply, I will be writing to Citibank to reduce my current credit limit to a lower amount. This is to stop myself from having impulsive expenditure!!!

Ps. If you don’t have income and still wanted to use a credit card, use it responsibly and don’t let it add on to your debt if you already have one.

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