Details
Written by: RJ
Citi Pay Credit is a digital-only credit card and dedicated line of credit for customers to make purchases at participating retailers that offer Citi Pay Credit. Highlights of Citi Pay Credit include:
- Independent line of credit: Citi Pay Credit provides a new credit line that is separate from the Citi® credit cards that customers may already have in their wallets. It allows customers to be intentional when making large or unexpected purchases at participating retail partners.
- Promotional rate financing: Citi Pay Credit allows participating retail partners to offer their customers promotional financing. Additionally, customers can opt for a major purchase plan based on what the retailer offers.
- Real-time approval: Customers interested in Citi Pay Credit can apply for it directly within the checkout process at participating retailers, prior to the completion of their purchase, and receive a real-time credit and authorization decision.
No details on participating retailers, application process, or rates.
First reported by: PM
Thoughts
According to Citi, 85% of Americans believe stores should offer flexible payment options. This is basically another credit card, almost like a store credit card that you can use more retailers (depending on which choose to participate). In place of rewards, you get special financing options. Targeted at competing with the buy now pay later services.
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Editorial Note:
Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities.