If you apply, are granted a Citi Rewards Credit Card, and make $5,000 in eligible purchases within 90 days of receiving your approval, you will receive 70,000 bonus Velocity Points. Enjoy no balance transfer fees and 0% p.a. on balance transfers for six months. Get free insurance coverage, first-rate prizes, and benefits in addition. Applying T&Cs.
The initial year’s fee is $300, but subsequent years’ fees are only $150 if you spend at least $48,000 annually. When evaluating the card’s qualities to determine whether it is worthwhile for you, keep this in mind.
You may benefit from this fantastic two-part introductory offer by applying and being approved for the Citi Rewards Credit Card by May 31, 2023, and you’ll receive 70,000 bonus Velocity Points in addition to 0% p.a. on balance transfers for six months with no balance transfer fee. Along with continuing to take advantage of the card’s many benefits, you will continue to earn rewards through the adaptable Citi Rewards Program.
Additionally, Citi Premier provides Priority Pass membership, free foreign travel insurance, free smartphone insurance, and lounge access. Additionally, it can earn up to 2 Citi reward Points for every $1 spent on eligible purchases. These points can be transferred to Velocity and other partner loyalty programs, redeemed for gift cards and other prizes, or kept for future purchases.
Key Features
- When you spend $5,000 on eligible purchases within 90 days of acceptance, you’ll receive 70,000 additional Velocity Points.
- 6 months of 0% interest on balance transfers with no transfer fees go back to the Cash Advance rate
- Personal loan with a balance transfer, as well as credit cards and/or store cards
- Earn one point for every dollar spent on domestic purchases that qualify (up to $10,000 every statement period).
- With My Cashback, take advantage of monthly cashback incentives from your favorite retailers.
- Take advantage of a 10% discount or up to $250 in limited-time hotel specials from Lux. Offer valid through March 1st, 2023.
- Free extended warranty insurance, guaranteed pricing, purchase cover insurance, transit accident insurance, and international travel insurance
- Compatible with Samsung Pay Transfer, Google Pay, and Apple Pay Citi Rewards Points for Loyalty Programs and Airlines
Pros
- When you spend $5,000 on eligible purchases within 90 days after approval for a 0% interest rate for six months without a balance transfer fee, you will receive 70,000 additional Velocity Points. going back to the Cash Advance rate.
- Earn one point for every dollar spent on domestic purchases that qualify (up to $10,000 every statement period).
- 2.5 Citi reward Points will equal one Velocity Point.
- On retail purchases, interest is free for up to 55 days.
- With My Cashback, take advantage of monthly cashback incentives from your favorite retailers.
- 10% discount or $250 off for a limited-time Hotel Lux Exclusive discount. Offer valid through March 1st, 2023.
- Free insurance provides coverage
- compatible with Google Pay, Samsung Pay, and Apple Pay
- It provides additional points for purchases made with Citi PayAll.
- Utilize payment plans to divide purchases into manageable installments.
Cons
- 21.49% annual purchasing rate is high.
- Up to $10,000 in additional cardholder fees of $90 per statement period on eligible domestic purchases
- When you have a balance transfer, there are no interest-free days for purchases.
Benefits
- Rewards system: On qualifying online purchases made in Australia or abroad, 2 Citi reward Points will be awarded for every $1 spent, while 1 Citi reward Point will be awarded for every $1 spent on other eligible purchases made in Australia. This indicates that you will accrue points for the majority of your purchases, with a 200,000-point annual cap. However, certain activities, including cash advances, balance transfers, BPAY payments, those made while running a business, and government fees (including payments to the Australian Taxation Office), can prevent you from earning points.
- PayAll by Citi: When you use Citi PayAll to pay your expenses, including rent, property management fees, and taxes, you can earn 1 point for every $1 spent with no points cap. With this service, you may use your Citi credit card to transfer money to an Australian bank account. You can set up one-time or recurring payments online or using the Citi Mobile App.
- Priority Pass membership is free, and you get two free trips to airport lounges per year. The Priority Pass regular membership is free with this card, and you get two free trips to airport lounges each year. You have access to more than 1,300 airport lounges around the world with Priority Pass. Currently, Adelaide, Canberra, Darwin, Brisbane International Airports, Sydney Kingsford Smith, Gold Coast Coolangatta, and Melbourne all offer the Priority Pass.
- Cheap Luxury Escapes: Until March 1, 2024, you may use the Luxury Escapes website or app to purchase with your Citi card and receive 10% off (up to $250) on Limited Time LUX Exclusive hotel offerings when you enter the promo code CITI10.
- Benefits of Mastercard: You may access special travel, eating, entertainment, and other lifestyle opportunities in more than 40 destinations around the world with Mastercard Priceless destinations.
- Technology for mobile payments: You can now effortlessly make payments by touching your phone or smart device at the contactless terminal thanks to smartphone apps from Samsung Pay, Google Pay, and Apple Pay.
- Free travel protection: By paying for qualifying travel reservations with your Citi Premier credit card, you can receive free international travel insurance, transit accident insurance, and interstate flight inconvenience insurance. As with any insurance policy, be sure to read the terms and conditions in their entirety (available through Citi) before deciding whether they will provide you with enough coverage for your trip plans.
- Invest in a cover: An extended warranty insurance policy, a guaranteed price policy, and free purchase cover insurance are all included with purchases made with your Citi Premier credit card.
Rates and Fees
- Annual charge: The first year’s annual fee for this card is $300. If you spend $48,000 on qualified purchases or cash advances in a single year after that, a $150 yearly fee is assessed. The annual cost is $300 in all other cases.
- Rates of interest: This card’s purchase rate is 21.49% per annum, and its variable cash advance rate is 22.24% per annum.
- Money exchange: Benefit from 15 months of 0% interest and no balance transfer fee on balance transfers. The interest rate switches back to the variable cash advance rate, which is now 22.24% p.a., at the end of the introductory period. Keep in mind that if you have a balance transfer debt, no purchases you make will be subject to interest-free periods.
- Days without interest: When you pay the debt in full by the due date listed on each statement, the Citi Premier credit card offers up to 55 days of interest-free shopping. Please be aware that while you are carrying a balance transfer debt, interest-free days do not apply.
- Foreign exchange charges: The regular 3.4% international transaction fee will be charged if you use your Citi Premier Card to make a transaction outside of the country.
- Further cardholders: Up to four additional cardholders who are older than 16 are available to you at no additional cost. Remember that you are in charge of keeping track of the account and all charges that are added to it.
Overall Rating
With access to the Citi Rewards Program as well as a variety of great extras, such as international travel insurance, the Citi Rewards Credit Card is really rewarding. Additionally, if you apply and are accepted by May 31, 2023, you can receive 70,000 additional Velocity Points (minimum spend, T&Cs apply).
Conclusion
The Citi Premier is a premium credit card with significant bonus points and flexible rewards points. With points left over, 80,000 bonus Velocity Points could be used to book a roundtrip business class travel from Brisbane to Queenstown (71,100 points plus taxes and fees). If you prefer cash rewards right now, you could use these Velocity Points to purchase three Westfield gift cards totaling $350 (one $250 gift card and two $50 gift cards cost 72,836 points each).
A concierge, complimentary insurance, Priority Pass airport lounge access, and other amenities are all included with the Citi Premier. Given these advantages, a $150 annual fee would be extremely reasonable. However, you’ll pay $300 in the first year and subsequent years if you don’t use the card for at least $48,000 each year. That equates to an average monthly spend of $6,000, so when comparing this card to other options, consider how much you often spend.