TERMS AND CONDITIONS

Late Payment Fees & Finance Charges

Late Payment Fees & Finance Charges

To promote sound financial and debt management, cardmembers are encouraged to pay promptly (before the Payment Due Date stated in the Statement of Account) to enjoy our Preferred Tier Rate and not be charged Late Payment Fees.

A. Late Payment Fees

Late Payment Fees
If minimum payment is not made by payment due date, a late payment charge will be levied at 1% of unpaid balances from retail transactions and cash advances, subject to a minimum of RM10, up to a maximum of RM100.

B. Finance Charges.
To the extent permitted by law, the Finance charges are imposed on the portion of balances that relates to finance charges and other fees or charges (excluding late payment charge) that were carried forward from balances posted in previous statements.

Finance charges will be levied on the outstanding balance or Current Balance in your statement at the rates prescribed by Bank Negara Malaysia under its guidelines (including its credit card guidelines, as amended from time to time) (or such other rate that may be lower as determined by us at our discretion and as we deem fit) and subject to the maximum rates for the following categories:-

Tier Description Finance charges
Tier I Cardmembers who promptly settle their Minimum Monthly Payment due for twelve (12) consecutive months. 15% p.a.
Tier II Cardmembers who promptly settle their Minimum Monthly Payment due for ten (10)/ eleven (11) months in the last twelve (12) consecutive months. 17% p.a.
Tier III Cardmembers who make nine (9) months or less prompt payments of their Minimum Monthly Payment in the last twelve (12) consecutive months. 18% p.a.

Frequently Asked Questions

  • What are the tiers for the finance charges?

    Refer to B. Finance Charges shown above.

  • What is the late payment fee?

    Refer to the A. Late Payment Fees shown above.

  • I am a new Citibank credit cardmember, which finance charge rate will apply to me?

    For new Citibank credit cardmembers, finance charges of 18% p.a. will be applied. The applicable tiered finance charges will only be effective until such time when you have the minimum 12 months repayment record with us. Thereafter, the applicable tiered pricing rate will apply (Tiered I to Tiered III).

  • I am an existing Citibank credit cardmember but I do not have 12 months record with Citibank, which finance charge rate will apply to me?

    A finance charge of 18% p.a. will be applied to you until such time when you have the minimum 12 months repayment record with us. Thereafter, the applicable tiered pricing rate will apply (Tiered I to Tiered III).

  • How can I find out about my finance charges?

    The finance charges applicable on your credit card will be reflected in your statements. Cardmembers are encouraged to pay promptly (before the Payment Due Date stated in the Statement of Account) to avoid late payment and finance charges. Enroll to our online e-statements to enjoy the convenience of receiving your statements directly from your email. To find out more, please visit, https://www.citibank.com.my/english/citi-online/citi-online-electronic-statement.htm?eOfferCode=MYULBWU2

  • What if I miss an instalment payment which I am servicing every month, for example, Quick Cash, Citi FlexiBill, Citi PayLite, Balance Transfer Instalment (Fixed Payment Option Monthly Instalment)?
     

    If the outstanding balances appearing in the credit card statement are settled in full before payment due date, your billed Fixed Payment Option Monthly Instalment will not attract finance charges. You will continue to enjoy a minimum of 20 days interest-free period, provided that the outstanding balances carried forward from the previous month’s statement cycle are settled in full before payment due date.

    If outstanding balances from the previous month’s statement cycle are carried forward, the billed Fixed Payment Option Monthly Instalment in your current Monthly Statement will be subject to Finance Charges. Finance Charges will be charged to you at the rate specified in this agreement (under Credit Card Terms & Conditions Section 5.10) and will be calculated from one day after the date the sums owed are posted on your Monthly Statement to one day before payment date. Additionally, any unpaid portion of the Fixed Payment Option Monthly Instalment will also be subject to Finance Charges calculated from the payment date to the next statement date. Usual Late Payment Charges will also apply and your credit records will reflect payment delinquency.

If you require further information, kindly contact CitiPhone at 03-2383 000003-2383 0000 (Kuala Lumpur), 04-296 000004-296 0000 (Penang),
07-340 600007-340 6000 (Johor Bahru) or 1 800 82 10101 800 82 1010 (Sabah & Sarawak).