If you’re looking for a credit card that offers cashback rewards on everyday purchases, including groceries and transportation, the Citibank SMRT Card may be the perfect fit for you. This Visa card is designed to be an everyday groceries and commuting cashback credit card with great benefits. It even doubles up as an EZ-Link card, which adds to its convenience factor.
The Citibank SMRT Card requires a low minimum spend of just $500 for you to earn maximum cashback, while also offering you the option to redeem points for either cash rebates or rewards. With a range of additional benefits, including travel insurance and purchase protection, this card is a great option for young professionals and commuters alike. However, it’s important to note that the Citibank SMRT Card comes with an annual fee of $192.60, which is waived for the first two years.
Key Takeaways
- The Citibank SMRT Card offers cashback rewards on everyday purchases, including groceries and transportation.
- The card comes with a range of additional benefits, including travel insurance and purchase protection.
- The card requires a low minimum spend of just $500 for you to earn maximum cashback, while also offering you the option to redeem points for either cash rebates or rewards.
Exploring the Citibank SMRT Card
If you’re looking for a credit card that offers great benefits and rewards, the Citibank SMRT Card might be the perfect fit for you. This card is designed to help you save money on your everyday expenses, including groceries and commuting. Here’s what you need to know about the Citibank SMRT Card.
What Makes the Citi SMRT Card Stand Out
One of the standout features of the Citibank SMRT Card is its ability to double up as an EZ-Link card. This means that you can use it to pay for your daily commute on public transport, including buses, trains, and taxis. Additionally, you can earn up to 5% cashback on your transportation expenses, making it an excellent card for those who rely on public transport to get around.
Another great feature of the Citibank SMRT Card is its low minimum spend requirement. You only need to spend S$500 per month to be eligible for maximum cashback rewards. This makes it an accessible card for many Singaporeans who want to earn rewards without having to spend a lot of money.
Understanding the Rebate System
The Citibank SMRT Card offers two types of rebates: SMRT$ and cash rebates. SMRT$ can be redeemed for vouchers or used to offset your credit card bill, while cash rebates can be credited directly to your account. Here’s how the rebate system works:
- 5% cashback on groceries, online shopping, and transportation expenses (up to S$600 per month)
- 3% cashback on health and beauty expenses (up to S$200 per month)
- 2% cashback on dining expenses (up to S$200 per month)
- 1% cashback on all other expenses
It’s important to note that the cashback rewards are subject to a cap, so be sure to check the terms and conditions before using your card.
Overall, the Citibank SMRT Card is an excellent choice for those looking to save money on their everyday expenses. With its low minimum spend requirement and generous cashback rewards, it’s a great way to earn rewards while sticking to your budget.
Earning and Redeeming Rewards
As a Citibank SMRT cardholder, you can earn cashback rewards on your everyday expenses such as groceries, dining, and transport. Here’s how you can maximise your cashback on daily expenses:
Maximising Cashback on Daily Expenses
The Citibank SMRT Card offers up to 5% SMRT$ for SimplyGo transactions, which includes public transport and ride-hailing services. You can also earn 0.3% SMRT$ on all other retail spends. Every S$1 spent gives you 1 SMRT$. By using your Citibank SMRT Card for your daily expenses, you can accumulate SMRT$ quickly and easily.
In addition, the Citibank SMRT Card offers cashback rewards on groceries and dining. You can earn up to 5% SMRT$ on groceries at supermarkets and hypermarkets, and up to 5% SMRT$ on dining at restaurants, cafes, and fast food outlets. By using your Citibank SMRT Card at these merchants, you can earn more SMRT$ and maximise your cashback.
Redeeming SMRT$ for Vouchers and More
Once you have accumulated SMRT$, you can redeem them for cash rebates and vouchers via Citibank Online. You can redeem your SMRT$ for vouchers from popular merchants such as FairPrice, Giant, and Watsons, as well as for cash rebates on your Citibank SMRT Card.
Redeeming your SMRT$ for vouchers is a great way to save money on your daily expenses. You can use your vouchers to purchase groceries, household items, and personal care products, among other things. By redeeming your SMRT$ for vouchers, you can stretch your budget further and get more value for your money.
Overall, the Citibank SMRT Card is a great credit card option for those looking to earn cashback rewards on their daily expenses. By using your Citibank SMRT Card for your everyday purchases and redeeming your SMRT$ for vouchers and cash rebates, you can save money and get more value for your spending.
Commuting Benefits
If you’re a frequent commuter, the Citibank SMRT Card offers a range of benefits that can help you save money on your daily commute. Here are some of the commuting benefits that you can enjoy with the Citibank SMRT Card:
Convenience for Public Transport Users
The Citibank SMRT Card doubles up as an EZ-Link card, which means that you can use it to pay for your MRT and bus rides. This makes it a convenient option for public transport users who want to avoid the hassle of topping up their EZ-Link card separately. Additionally, the card allows you to enjoy up to 5% cashback on your public transport expenses, which can add up to significant savings over time.
If you prefer to use ride-hailing services like Grab or Gojek, you can also enjoy up to 5% cashback on your taxi rides when you pay with your Citibank SMRT Card. This can be a great way to save money on your daily commute, especially if you take taxis frequently.
Additional Perks for Car Owners
If you own a car, the Citibank SMRT Card can also offer you some additional perks. For example, the card allows you to enjoy up to 5% cashback on your petrol expenses at Esso and Shell stations. This can be a great way to save money on your fuel costs, especially if you drive frequently.
In addition to petrol cashback, the Citibank SMRT Card also offers other benefits for car owners, such as free car rental insurance and discounts on car servicing and repairs at selected workshops. These perks can help you save money on your car-related expenses and give you peace of mind while you’re on the road.
Overall, the Citibank SMRT Card can be an excellent choice for commuters who want to save money on their daily transport expenses. With its convenient EZ-Link feature and generous cashback rewards, it can help you stretch your budget further and make your daily commute more affordable.
Fees and Charges
If you are considering the Citibank SMRT Card, it is important to understand the fees and charges associated with it. Here is a breakdown of the fees and charges you can expect:
Annual Fee and Waivers
The Citibank SMRT Card comes with an annual fee of $192.60, which is waived for the first two years. This means that you can enjoy all the benefits of the card without having to pay any annual fees for the first two years.
Interest Rates and Other Charges
The Citibank SMRT Card has an annual interest rate of 26.90%. This is a relatively high interest rate, so it is important to make sure that you pay off your balance in full each month to avoid accruing interest charges.
In addition to the annual interest rate, there are other charges that you should be aware of. If you make a late payment, you will be charged a late payment fee of $100. If you exceed your credit limit, you will be charged an overlimit fee of $40.
Overall, the fees and charges associated with the Citibank SMRT Card are reasonable, especially considering the benefits that come with the card. However, it is important to make sure that you understand all the fees and charges associated with the card before you apply.
Eligibility and Application
Who Can Apply for the Citi SMRT Card?
If you’re a Singaporean or a Permanent Resident (PR), you’re eligible to apply for the Citi SMRT Card. Foreigners with a valid employment pass and a minimum annual income of $42,000 can also apply.
The Application Process Simplified
The application process for the Citi SMRT Card is simple and straightforward. You can apply online or visit any Citibank branch to apply in person.
To apply, you’ll need to provide the following documents:
- A copy of your NRIC (for Singaporeans and PRs) or passport (for foreigners)
- Your latest income tax notice of assessment or computerised payslip
- For self-employed individuals, a copy of your latest income tax notice of assessment and bank statements for the past 3 months
The minimum annual income requirement for the Citi SMRT Card is $30,000 for Singaporeans and PRs, and $42,000 for foreigners.
Once you’ve submitted your application, it will take approximately 7-10 working days for Citibank to process your application. If your application is approved, you’ll receive your Citi SMRT Card within 7 working days.
Overall, the Citi SMRT Card is a great choice for budget-conscious spenders who want to earn cashback rewards on their everyday purchases. With a simple application process and eligibility criteria that cater to a wide range of individuals, applying for the Citi SMRT Card is a breeze.
Frequently Asked Questions
What fabulous perks come with the Citibank SMRT Card?
The Citibank SMRT Card offers a range of exciting perks, including rebates on groceries, online shopping, and public transport. You can earn up to 5% rebate on your daily commute, and up to 5% rebate on your online purchases and groceries. Additionally, the Citibank SMRT Card doubles up as an EZ-Link card, so you can use it to pay for your public transport fares.
How can I enjoy the annual fee waiver on my Citibank SMRT Card?
You can enjoy the annual fee waiver on your Citibank SMRT Card by spending at least $10,000 per year on your card. This will automatically waive the annual fee for the following year.
In what ways can I maximise the rebates on my Citibank SMRT Card?
To maximise the rebates on your Citibank SMRT Card, you should use it to pay for your daily commute, online shopping, and groceries. Additionally, you can combine your Citibank SMRT Card rebates with other promotions and discounts to save even more money.
Could you explain the SimplyGo feature of the Citibank SMRT Card?
The SimplyGo feature of the Citibank SMRT Card allows you to use your card to pay for your public transport fares without the need for an EZ-Link card. This means you can enjoy the convenience of tapping your card directly at the gantries, and you can also view your transaction history and fare charges on your Citibank SMRT Card statement.
What’s the minimum spend required to reap rewards on the Citibank SMRT Card?
The minimum spend required to earn cashback on the Citibank SMRT Card is $500. This means you can start earning rewards on your card with just $500 of spending per month.
How does the Citibank SMRT Card fare in terms of interest rates?
The Citibank SMRT Card has a standard interest rate of 26.9% per annum. However, if you pay your balance in full every month, you can avoid paying any interest on your purchases.