What is a credit balance refund on the Citi Premier? This question is about the Citi Premier® Card

What is a credit balance refund on the Citi Premier?

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This question is about the Citi Premier® Card

Chip Lupo, Credit Card Writer

@CLoop • 01/20/22 This answer was first published on 01/20/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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A credit balance refund on the Citi Premier® Card is a reimbursement for paying more than the total balance owed on the credit card. For example, a cardholder who has a balance of $500, but pays $600, can get a credit balance refund of the $100 that they overpaid.

Cardholders can request a Citi Premier credit balance refund: by phone (1-800-950-5114) or by sending a written request to Citibank Customer Service| P.O. Box 6500| Sioux Falls, SD 57117. They can get their refund in the form of a check or an ACH refund credit to the bank account from which the payment was originally taken. Legally, a credit card issuer is obligated to issue a credit balance refund within seven business days of your request for one.

Please note that you are not required to request a credit balance refund if you overpay your Citi Premier credit card. If you have a negative balance on your account, meaning you’ve paid more than you owe, future purchases will be credited until the balance is back to zero. If you maintain a negative credit balance for six months, Citibank is required to offer you a refund.

Answer Question

Does Citi Premier Card have a 0% APR intro period for new purchases?

No, the Citi Premier Card does not have a 0% APR intro period for new purchases. If you’re planning on making a large upcoming purchase and you don’t anticipate paying off the balance for a few months, the Citi Premier Card is not a great credit card to use.

Alternatively, you can check out the ... read full answer best 0% APR credit cards of 2023, selected by WalletHub’s editors from 1,500+ offers. Just keep in mind that many cards with a 0% APR intro period for new purchases require good or excellent credit for approval. You can check your credit score for free on WalletHub to gauge your odds.

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How much is the Citi Premier annual fee?

The Citi Premier® Card annual fee is $95. The card’s annual fee is higher than the average annual fee among new credit card offers right now. It’s not the only fee you need to worry about with the Citi Premier® Card, either.

Citi Premier® Card Fees

Annual Fee: $95
Cash Advance Fee: 5% (min $10)
... read full answerForeign Transaction Fee: 0%

Balance Transfer Fee: 5% (min $5)

Max Late Fee: $41

Keep in mind that an annual fee is a common charge with high-tier rewards cards. This card offers 60,000 points for spending $4,000 in the first 3 months. Plus, you can earn 1 - 3 points per $1. So, Citibank charges an annual fee for this card to help offset the cost of these perks.

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Is there a Citi Premier 60k bonus?

Yes, there is a Citi Premier 60k bonus. More specifically, the current bonus is 60,000 points for spending $4,000 in the first 3 months. You can also earn 3 points per $1 spent at restaurants, supermarkets and gas stations, 3 points per $1 on air travel and hotels, and 1 point per $1 on all other purchases. Citi Premier bonus points value will be different, depending on how you redeem them.

Things to Know About the Citi Premier Current Bonus

Processing time: The bonus should post to your account within 8-10 weeks after you meet the spending requirement.... read full answer

Bonus eligibility: You’re eligible for the Citi Premier bonus if you haven’t opened or closed an account for the following cards in the last 24 months: Citi Premier® Card, Citi Rewards+® Card, Citi ThankYou® Preferred Card – Earn 30,000 Bonus Points, or Citi Prestige® Card.

Rewards expiration: Citi Premier points do not expire as long as your account is open and in good standing.

Citi Premier is an ideal option for everyday expenses and travel purchases. But keep in mind that the card's annual fee is $95. So, you should decide whether the rewards are worth paying for.

Although high initial bonuses can be enticing, note that more rewards don't always equal more value. It all depends on how much the points or miles are worth. So, make sure to apply for a credit card that fits your financial needs.

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WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

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