Make sure to read our updated 2016 guide and share your experiences with Buy Now Pay Later Catalog Shopping.
Many people are opting to go cashless and use credit or debit cards to make every day purchases. With Citibank credit card, you can shop all you want without having to spend any amount of cash. With this program, you get to buy all the things you need and pay for these things at a later time. While the US Market often gives interest free, deferred payment options to it’s customers, depending on the type of Citibank card you get, the Asian and Australian market for Citibank is the one that usually offers the buy now pay later programs. According to Citigroup “Enjoy the flexibility to convert your purchases on Citibank Credit Card to an Easy Installment Plan of up to 60 months. The Easy Installment Plan is available on retail transactions over AED 100. Get rewarded on each installment with Skywards Miles/Travel Pass Points/CitiDollars. So buy today, and pay later!“
The Citibank Credit Card
The Citibank Credit card is one of the most popular credit cards in the market. Unlike other types of financial loans, credit cards allow you to make repeated transactions up to your maximum credit limit. When you apply for a credit card account, you will be given a credit line which you can use in making purchases. Keep in mind that every time you charge something on your card, you are actually borrowing money from the bank, thus, you will need to pay for it at a later time, thus the term Citibank Buy now Pay Later. Furthermore, just like with any types of loans, there are interest charges involved on this, so when you pay in the future, you will not only be paying for the actual amount you used but you will have to pay for the interest as well.
Advantages of Using the Card
One of the biggest advantages in using your Citibank Credit Card is convenience. Having this card would mean that you will no longer be carrying huge amount of cash with you in case you need to make big purchases. Other than convenience, your card is also a big help when emergency arises. If in the event that you will need to purchase some medicines for some members in the family and you do not have any cash available, your Citibank Credit Card is definitely a big help.
Disadvantages of Using the Card
Take note taking advantage of the Citibank Buy now Pay Later program has disadvantages, too. For one, this method of shopping would mean that you will have to pay more than what the product costs. As mentioned, there is interest charges involved on this. Aside from the interest fees, you will also be charged for some penalties in case you are late in paying your dues. Just like with other credit facilities, your credit rating could get affected in case you fail to pay your credit card dues on time. So you better think of these things before you decide to apply for a Citibank Credit Card.
When applying for the Citibank Buy now Pay Later program, there are instances where you could get rejected. One of the reasons is your credit history. If Citibank finds out that you are having credit issues with other financial institutions, then they will not be that confident to lend you money. Another reason for the rejection of your credit card application is when you lack the necessary requirements. So before you submit your application for the Citibank Buy now Pay Later program, make sure that you have complied with all the requirements.