Please note that within Australia, Priority Pass is currently available at Cairns, Darwin and Brisbane International Airports and Sydney Kingsford Smith. For the full list of up to date airport lounges and Priority Pass™ Conditions of Use Please refer to www.prioritypass.com.
Separate Diners Club Terms and Conditions apply to a Linked Diners Club Card as it is a separate credit facility from Diners Club that is paid through your Citi Credit Card. Eligibility criteria apply including that you must be approved for an account that is eligible for a Linked Diners Club Card. Diners Club has appointed Citi to administer the Linked Diners Club Card. Any credit balance on the Linked Diners Club Card is not a deposit liability of Citi, or any other affiliate of Citi is not a protected account and is not guaranteed.
All rewards on your Linked Diners Club Card are subject to the Terms and Conditions of the Citibank Rewards Program and the Linked Diners Club Card Extra Terms Part 2. Eligible Transaction is defined in the Rewards Program Terms and Conditions and means any purchase excluding (but not limited to) cash advances, balance transfers, special promotions, BPAY payments, government related transactions and all other transactions set out within the definition. Points do not expire while the card remains open and in good standing.
No International Transaction Fee is only applicable for transactions made on your Linked Diners Club Card; including on the amounts transferred to your Citi Credit Card. If you make an international transaction using your Citi Credit Card, an International Transaction Fee will be charged (where applicable).
There are all sorts of prestige cards, each with its own special livery – black or platinum – trying to convince you that you’ve found the perfect card to complement and enhance a high-status lifestyle. And then there’s the Citi Prestige Card. It doesn’t need to proclaim its reputation from the rooftops, simply because it truly is the ultimate prestige card, overflowing with benefits that will reward elevated but well-considered spending.
Generous Citi Rewards earning Rate
You’ll earn Citi Rewards points on every dollar spent on eligible purchases (basically everything except cash advances and cash equivalents such as balance transfers and foreign currency purchases, and also excluding any government-related purchases – ATO payments and local government rates, for example).
Depending on where you do your spending, you’ll earn points at varying rates, and the scales are tipped in favour of regular travellers and restaurant diners, although basic family budget items are also well rewarded. These are the details:
Potential for massive bonus points
Citi have come up with a novel way to provide a mammoth points boost for consistent spenders, while setting the bar at a low level that applicants for a premium card like this will find not at all troublesome. During the first 20 months of holding the card, you will be rewarded with 20,000 bonus points in every month where you spend at least $1,000 using the card. That adds up to a very substantial 400,000 bonus points potential.
The 400,000 bonus points could be exchanged for over $2,100 worth of retail eVouchers.
Top up with another 10,000 points, just for applying for a Linked Diners Club card
Why not add a Diners Club card to your premium card portfolio, since it comes free of charge and brings some extra benefits? Apply for the Diners Club card in conjunction with your Citi card application, and pocket another 10,000 points by making just a single purchase in the first 90 days using the Diners Club card.
You won’t pay a cent extra in annual fees, you can access both cards with the same PIN and login details, and pay both card balances with a single monthly payment.
The Diners Club card earns 2.0 points per $1 spent, uncapped, and since there’s no foreign transaction fee levied it will be an ideal alternative card for regular overseas travellers or online shoppers (avoiding the 3.4 percent Citi foreign transaction fee).
Redeeming Citi Rewards points for frequent flyer points
You can get heaps of value from this card by transferring your Citi Rewards bonus points, or ongoing earned points, to one of Citibank’s airline partners: Virgin Australia, Singapore Airlines or Emirates. Current exchange rates are 2.5 Citi Rewards points for 1.0 Virgin Velocity points, or 3.0 Citi Rewards points for 1.0 Singapore airlines or Emirates points.
Other ways to redeem Citi Rewards points
There are plenty of other ways to redeem Citi Rewards points that don’t involve frequent flyer programs. You can, for example:
Complimentary insurance policies
It should come as no surprise that every one of the usual credit card insurance policies accompanies this card, free of charge of course. All you need to do to activate a policy is to use your card to pay your travel fares or buy the product against which you subsequently need to make a claim. Here’s the extensive cover you will automatically receive:
Seemingly endless list of travel and lifestyle benefits for the well-heeled
If you ever feel like indulging a whim, or pampering yourself and your loved ones with either true luxury or unforgettable experiences, the chances are that the people at Citibank have already thought of it and included it in the list of complimentary privileges built into the Citi Prestige Card. Yes, you will certainly save a lot of money, year after year, barely needing to lift a finger, but it’s more about being treated as an exceptional individual and getting involved in adventures and events that are just not available to the average person.
Here’s the list, many of them courtesy of the word 'Infinite’ on the bottom right of the card, making it a Visa Infinite card:
The interest rates are unlikely to affect your decision about this card, but for the record they are 20.99 percent p.a. on purchases and 21.74 percent on cash advances. Worth knowing, perhaps, in case you occasionally forget to clear your monthly balance on time, or find yourself needing a quick cash advance from an ATM.
Up to 44 days interest free
This one is worth knowing about too, assuming that you may regularly run a high monthly purchase balance on your account. Don’t make the mistake of assuming that you have 55 interest-free days, and end up paying late and being hit with a huge amount of interest for two months.
High annual fee
The moment of reckoning has to come, with every credit card, the point at which you decide whether you can extract enough value from the card to justify the annual fee. With some cards, the decision is easy: the fee is low, because little is given beyond the keeping of an account and the extension of a month’s credit, largely funded by the merchants from whom the purchases were made.
The Citi Prestige Card presents an altogether tougher assessment. It offers so much – a fast-earning rewards program, bonus points, insurance, free wine and a cornucopia of upmarket privileges – that the annual fee cannot fail to be high. The price – $700 a year – is certainly enough to make those who hold lesser cards gasp in surprise. But they would be unable to take advantage of many of the benefits, unlike those for whom overseas travel is a regular occurrence, who frequent high-end hotels and shop at exclusive retail outlets. The Citi Prestige Card is for this latter group. It is their prize, and they can make it work for them.
If you were able to take advantage of all the ongoing benefits every year (even excluding the value of any bonus points and ongoing rewards points) you should be able to extract from the card an estimated value of at least $3,000 annually.
Competing prestige cards
The Citi Prestige Card is not the only card aimed at high income earners. This a big decision, and before you make it you’ll want to take a look at the both the American Express Qantas Ultimate Credit Card and the American Express Platinum Card. Also check out the ANZ Frequent Flyer Black Credit Card and the Westpac Altitude Black Credit Card range.
If you can jump the income hurdle, it’s a clear-cut verdict
There’s no doubt that the hardest part about applying for this card is the $150,000 minimum income requirement. For anyone with this level of income and the associated lifestyle, the card hardly needs selling and its cost is readily justified. After that there’s just the online form – 15 minutes of your time – and the promise of a speedy response. It’s one of the easiest decisions you’ll ever make.
|Cash advances||1.81%||21.74% p.a.|