Consider the Citi Rewards+ card if you’re looking for a card with no annual fee that will earn you significant points rewards on groceries and gas for your car. For the first $6,000 in annual gas and grocery store purchases, you’ll earn 2X ThankYou Points, and for all additional expenditures, you’ll get 1X ThankYou Points. With 15 months of 0% APR on balance transfers made within the first four months on new purchases, the card also serves as a respectable balance-transfer option.
The entry-level credit card from Citi offers rewards points for every dollar spent. A variety of complementary insurances are included with the card, and you may convert rewards points into Velocity Points or KrisFlyer miles.
The mid-tier Velocity Frequent Flyer product from Citi is the Citi Rewards – Velocity credit card. The card offers premium services like insurance and has an uncapped, relatively low points gain rate. With this card, you can accrue Citi Rewards Points, which you can exchange for several benefits, including Velocity Points. The program also has a $199 annual charge, which includes up to 55 days of interest-free credit.
Although correct as of 1 February 2023, point computations are subject to change at any time and without prior notice. Additional taxes and fees can apply to all routes. The most recent calculations can be seen on the official Citi page.
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.
Many people have inquired about the points associated with this card. Although the bonus offer is given in Velocity points, you get Citi reward points for every dollar you spend. Citi points can be converted to Velocity points manually or automatically by setting up an “auto sweep” option. For Citi Rewards cards, 2.5 Citi reward Points are equal to 1 Velocity Point.
This card is best suited for someone who wants to get rewarded for their spending, given its main attributes. Overseas Travel and Medical Insurance, which are comparable products, are additional benefits.
Key Features of the Citi Rewards Card
Depending on the partner program, different minimum amounts of Citi Rewards Points are needed to complete a transfer, and they are as follows:
- Minimum 2,000 Velocity Frequent Flyer points in 1-point increments
- Minimum 20,000 Singapore KrisFlyer points in 1-point increments
- Emirates Skywards: 15,000 minimum points in increments of 1.
Any sum below the minimum cannot be transferred to frequent flyer programs until it reaches the required amount.
Along with reward points, the card offers perks including free insurance, free wine when dining at specific restaurants, and a private concierge.
Benefits of Citi Rewards Credit Card
- Bonus Velocity Points of 70,000: You can receive 70,000 bonus Velocity Points if you apply for the Citi Rewards card by May 31st 2023 and make $5,000 in eligible purchases within the first 90 days after card acceptance. Citi will email you within eight weeks of fulfilling the spend threshold to request your Velocity membership number. Within ten weeks of Citi receiving your Velocity membership number, the Velocity Points will then be credited to your Velocity account. Keep in mind that you must supply your Velocity Frequent Flyer number within 14 weeks of Citi’s request if you want to receive any bonus Velocity Points.
- Offer to transfer a balance: When you apply and are approved for this card by May 31, 2023, you will pay 0% p.a. interest on balance transfers for the first six months with no balance transfer charge. Any outstanding debt at the end of the promotional period will be charged at the variable cash advance rate, which is presently 22.24% p.a. Please be aware that while you have a balance transfer, purchases will not qualify for interest-free days.
- 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.
- Mobile payment system: When you add this card to the Apple Pay, Google Pay, or Samsung Pay wallets, you can make purchases by tapping your compatible smart device at a contactless terminal.
- Personal loan debt transfer: One of the few lenders that permits balance transfers from personal loans to credit cards is Citi. Balance transfers from other accounts to the Citi Rewards card can also include a line of credit accounts.
- Free travel protection: You and your family can be insured for medical costs, trip cancellation due to unforeseen events, loss or theft of personal belongings, and more when you purchase your international travel tickets with this card.
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.
- Take advantage of a 10% discount or up to $250 in limited-time hotel specials from Lux. Offer valid through March 1st, 2023.
- Free insurance provides coverage
- Compatible with Google Pay, Samsung Pay, and Apple Pay
- Provides additional points for purchases made with Citi PayAll
- Utilize an installment plan to divide payments for purchases.
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 purchase
How to maximize your rewards
Use this card for all of your gas station and grocery store purchases, up to a maximum of $6,000 per year, to get the most out of it. On any other purchases, you’ll get 1X the points. These benefits can accumulate over time.
Use the Citi Rewards+ card for any routine modest purchases you make, such as a cup of coffee on the way to work. A $2 cup of coffee would net you 10 points because the card automatically rounds up to the nearest 10.
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).
What we have to say
With the Citi Clear card, Citi is not being unreasonable. To serve up a genuinely sizable 3-year balance transfer deal, where you’ll pay no interest during the promotional time, it broke out the beautiful china and Nana’s elaborate cutlery. Since Citi is one of the few banks that allows you to balance transfer a Buy now pay later balance and personal loans like car loans, we have to admit that we are being enthusiastic about what this service could do to assist people to get out of debt. It creates several opportunities.
Just keep in mind that there isn’t much time left to take advantage of the 0% balance transfer offer, which expires on May 31, 2023. It might be a clever strategy for you to pay off the interest-bearing Christmas credit card debt.
The offers Citi makes with its credit cards frequently astound and astonish us, as well as the manner it incorporates a few regular things that other banks don’t.
Conclusion
The flexibility of the Citi Rewards program, which enables you to transfer reward points to your preferred frequent flyer program at a time that best suits your travel needs, is the main perk of the Citi Rewards Card. You can also take advantage of exclusive promotions like the bi-annual Velocity transfer bonus offers.
The card is most suitable for vacationers who don’t want to be tied to a specific airline. Even while the number of airlines available through the Citi Rewards program, which is connected to the Rewards Card, is relatively constrained, it does include premium airlines of high caliber that are quite active in the Australian market.