You can get a Citi Simplicity Card cash advance by withdrawing funds from an ATM or visiting a Citibank branch and asking a teller for a cash advance. Citi Simplicity Card charges a cash advance fee of 5% (min $10) for each cash advance. That's before factoring in the interest too. Your Citi Simplicity Card cash advance APR will be 26.74% (V). And unlike purchases, there is no grace period, so cash advances start accumulating interest as soon as you get your money.
To figure out exactly how much you'll pay for any specific cash advance, you need a few pieces of information.
Here's what you need to know about Citi Simplicity Card cash advances:
How to get a Citi Simplicity Card cash advance: You can get a cash advance at an ATM or by visiting your local bank branch. To get a cash advance from an ATM, you will need a PIN. If you haven't received a PIN, you can request one from Citibank.
Citi Simplicity Card Cash Advance Fee: 5% (min $10) of each cash advance transaction. In addition to the Citi Simplicity Card cash advance fee, there may be additional ATM fees, depending on where you withdraw the money from.
Citi Simplicity Card Cash Advance APR: 26.74% (V). There is no grace period, so the interest applies to your balance immediately and accrues daily.
Citi Simplicity Card Cash Advance Limit: Your cash advance limit will depend on your creditworthiness.
The full price of a Citi Simplicity Card cash advance is the fee plus the total amount of interest you end up paying. The sooner you repay what you owe, the less it will cost. Cash advances are costly transactions, so it's best to reserve them for emergencies.
Your Citi Simplicity Card approval odds are good if you have a credit score of 700+. That means you need good credit or better to have a shot at getting approved. Your approval odds for the Citi Simplicity Card will also be influenced by your annual income and existing debts.
Here’s more info about the Citi Simplicity Card approval odds:
Higher odds with at least good credit: Check your credit score before-hand to see if you’re within the optimal range and avoid affecting your score with an uninformed hard inquiry.
Check if you are pre-selected: To get a better sense of your approval odds before applying for a Citi Simplicity Card, you can check to see if you’re pre-qualified for any offers on the Citi Bank website. Pre-qualifying does not guarantee approval, but it does indicate that you have pretty good odds of getting approved for certain cards, and it won’t affect your credit score.
Respond to a mail offer: If you’ve been lucky enough to have been pre-selected for a mail offer, you can respond to it on Citi’s website by providing your invitation code and last name. Pre-qualified offers don’t guarantee approval. But you have good chances of approval as long as nothing negative has been added to your credit report.
Check your credit report: If you haven’t checked your report in a while, you should definitely do it before applying. So, you’ll be able to better assess the impact that the application will have on your credit score. You can get your credit report and check your score for free, right here on WalletHub.
Update your financial profile: Citi looks at your credit report, plus your annual income and monthly housing payment. If you are currently registered for online access, you can update this info on Citi’s website. Otherwise, you can call Citi Customer Service at (800) 950-5114.
To do a Citibank cash advance, you can either withdraw funds from an ATM or visit a local Citibank branch and ask the teller for a cash advance. For ATM transactions, you will need to request a 4-digit PIN from Citi customer service if you did not receive one after being approved for an account.… read full answer
It’s also worth noting that a Citibank credit card cash advance limit is different for everyone. You can view that information on your statement, online or by calling the number you see on the back of your card.
Here’s why you should avoid Citibank cash advances:
Cash advances are expensive, so it’s best to avoid them whenever possible. That’s true with all credit card companies, and Citibank is no exception. Citi’s cash advance fee is 5% (min $10). There may be additional bank fees if you withdraw cash from an ATM. There’s also a separate APR for cash advances. It’s typically higher than the card’s regular APR.
The Citibank cash advance APR can be as high as 26.74% (V), depending on the card and your creditworthiness. Cash advances accumulate daily interest from the time you make the transaction, with no grace period. New interest is added on top of any existing interest charges each day.
So, it’s best to pay off your Citibank cash advance as soon as you can, or better yet, just stay away from cash advances altogether.
The Citibank cash advance fee is 5% (min $10) per transaction, whichever is higher. A cash advance fee is a fee charged when using a Citibank credit card for cash withdrawals at an ATM, or in person at participating locations.
Bear in mind that when you do a cash advance, you will incur other costs in addition to the Citibank cash advance fee. There’s a separate cash advance APR that applies immediately after you complete the transaction. The ATM owner may also impose additional charges.… read full answer
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