Checking Plus line of credit Info
Citibank offers its customers a tool to protect their checking accounts in the event of an overdraft. The Checking Plus line of credit automatically transfers sufficient balance, in multiples of $100 USD, to cover the amount that exceeds your account balance when a check or bill payment arrives that exceeds the available funds.
In this way, you will not have to assume the expenses for overdraft and your checks will not be returned. For each automatic transfer made from the line of credit to cover an overdraft, a commission of $10 dollars will be charged.
You can avoid this cost if you have contracted the Citigold pack, the City Priority pack or the Access pack, or by transferring the necessary amount before the payment is made.
The interest rate applied on the drawn balance will be variable and will also depend on the package you have contracted with the entity, with a current base of 23.50% APR that can be lowered to 20.50% with the Citigold and Citi Priority package.
Requirements to contract the Citibank Checking Plus line of credit
In order to access this financial product, you have to meet the following conditions:
- Be a Citibank customer and have a checking, savings or certificate of deposit account with a balance of at least $1. If you are not yet a customer, you have a period of 21 days from when you request the line of credit to contract an account or deposit and transfer a minimum of $1.
- Have an income of at least $10,500 a year.
The Checking Plus line of credit only charges you interest on the money you request. With this bank, you also have the possibility of contracting a personal loan of up to $30,000 for whatever you need.
En español: Línea de crédito Checking Plus de Citibank