Questions & Answers about Citi Debt Consolidation Plan 2024
Citi Bank Debt Consolidation Plan wants you to take charge of your finances and consolidate all of your debts into a single loan with Citi Debt Consolidation Plan without any processing fee and get S$500 cash rebate when you apply for a Citi Debt Consolidation Plan or if you intend to refinance your plan with Citibank.
Citibank Singapore
Citibank Singapore Limited is a branch bank of Citibank, N.A. headquartered in New York, U.S.A. and was present in Indonesia in 1918 through its previous company, The International Banking Corporation in Batavia and Surabaya. In 1989 Citibank started its credit card business in Indonesia. Citibank is one of the pioneers of the credit card business in Indonesia by always presenting quality products and making innovations for the satisfaction of its customers. This privilege then continued in the following years by introducing various other banking services online. Until now, Citibank Bank has issued a variety of banking service products, including credit card products that offer various facilities and ease of transactions for its users, as well as various attractive promo offers.
What would be your advice or feedback on Citibank's Debt Consolidation Plan?
Citi Debt Consolidation Plan
Let me assumed that you already have debts thus I recommend you to go for DCP first; for few reasons. It works by consolidating all your existing bank debts into DCP whereby Citibank pays it off for you and now you owe them only. The interest rate is about 10%/annum, vs 24-30% credit card interests rate. This plan does not eradicate the root of the problem as you need to reflect on the causes of your debts, are they Lifestyle choices or circumstantial? DCP may give you a month of credits to use for emergency purposes but frankly you stand to build up debts again if you don't know what went wrong and how you can make wiser decisions.