Yes, the Citi Custom Cash℠ Card does have a late fee of up to $40, which applies when cardholders don't make the minimum payment by the due date. The late fee for the Citi Custom Cash card can never exceed the minimum payment amount, though, thanks to the CARD Act of 2009.
If you accidentally make less than the required minimum payment or you miss your Citi Custom Cash due date entirely, you can always ask customer service to waive the late fee by calling 888-872-2214. This is much more likely to work if you have a great payment history with Citibank, but even if not, there's no harm in asking.
To avoid getting hit with late fees in the future, make sure to pay at least your minimum required payment each month. The best way to ensure that you never miss a payment is by setting up autopay.
Withdraw the cash and remove the credit card from the ATM.
Before you take out a Citi Custom Cash cash advance, it’s important to note that it is a very expensive transaction. For starters, there’s a 5% (min $10) cash advance fee. There’s also a separate cash advance APR of 25.99% (V) that applies as soon as you withdraw the cash. There may be ATM-owner fees, too.
To do a balance transfer with the Citi Custom Cash card, new applicants can just complete the balance transfer portion of the Citi Custom Cash application. Existing cardholders can request a balance transfer online or by calling customer service at (800) 950-5114.
Citi Custom Cash balance transfers usually take 14 days to process. In the meantime, continue to make payments on your original debt to avoid any late fees and possible damage to your credit score.… read full answer
How to Do a Balance Transfer with Citi Custom Cash (New Applicants)
Open the Citi Custom Cash application.
Enter the account number for your existing balance.
Enter the amount you want to transfer.
Include standard application info such as your name, Social Security number, and annual income.
Submit the application.
How to Do a Balance Transfer with Citi Custom Cash (Existing Cardholders)
Log in to your Citi Custom Cash account.
Select “View Offer” next to “You’re eligible for a balance transfer.”
Click “I want this offer," then "Start your transfer.”
Enter the account number(s) and the amount(s) you’d like to transfer.
Verify your information is correct and submit the application.
Key Things to Know About a Citi Custom Cash Balance Transfer
The Citi Custom Cash card only accepts balance transfers from other credit cards. The Citi Custom Cash card does not allow balance transfers from other Citibank credit accounts.
If you’re transferring a balance to a credit card with an introductory APR on balance transfers, try to pay off the balance before the introductory rate expires. Any balance remaining after that will accumulate interest daily at the card’s regular APR. Using a balance transfer calculator can be a big help.
Finally, there is a 5% (min $5) fee on Citi Custom Cash balance transfers. Make sure to take this into account, too.
The best time to pay a credit card bill is a few days before the due date, which is listed on the monthly statement. Paying at least the minimum amount required by the due date keeps the account in good standing and is the key to building a good or excellent credit score. That’s true for everyone, but some people might want to take things a step further, particularly cardholders carrying balances from month to month and people with high credit utilization.… read full answer
If you have a credit card balance that you carry from month to month, it’s best to pay that credit card’s bill as soon as the monthly account statement becomes available. This will save you money on interest. Paying the card’s monthly bill in full for two consecutive months will also reduce your interest charges by reinstituting your account’s grace period. Instead of purchases beginning to accrue daily interest charges right after you make them, you will have a window between when your monthly statement becomes available and when your bill is due to pay with no interest.
If the balance listed on your monthly credit card statements consistently equals more than 30% of the card’s credit limit, consider paying your bill multiple times per month. Paying once in the middle of the month and again before the due date will reduce the balance listed on your statement. That, in turn, will lower your credit utilization, which should help your credit score.
Here’s a quick example: You have a credit card with a limit of $1,000. You charge $500 to it, using up 50% of your credit. Then, you make a payment of $300 before the billing period closes and your statement is generated. That brings your statement balance to $200 and your utilization to 20%. Paying off the final $200 before the due date then keeps your account in good standing.
Here’s when to pay a credit card:
If your credit utilization is 30% or less and you pay in full every month, pay your credit card bill by the due date listed on your monthly account statement.
If your balance is more than 30% of your credit limit, pay your credit card bill before the billing period closes to reduce your credit utilization, then pay the remaining balance by the due date.
If you’re carrying a balance from month to month, pay off your full credit card balance as soon as possible to save on interest.
It’s a good idea to set up automatic payments with your credit card issuer so you don’t have to worry about when to pay your credit card bill. Doing so will automatically make a payment from a linked bank account every month on the due date, or a day of your choice before that. You can’t be marked late unless your account has insufficient funds. And even with automatic payments set up, you can still make additional payments any time you want.
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