Citi Rewards Card 0% for 26 Months Balance Transfer Offer | Review & Apply

Citi Rewards Card Balance Transfer Offer

What do you want this card for?
Save money
Earn points
Card features
balance transfer
annual fee
Citi Rewards Card Balance Transfer Offer
Apply by 31 aug 20
Citi Rewards Card Balance Transfer Offer
Enjoy 0% p.a. on balance transfers for 26 months which could help you get on top of things. A one-off 1.5% balance transfer fee applies.
Reduced annual fee of $0 p.a. in the first year, ($199 p.a. thereafter).
Earn 1 pt per $1 spent on eligible Domestic Spend in Australia, up to $10,000 per statement period.
Add to comparison
26 months
0% p.a.
then 22.24%
with a 1.5% fee
21.49% p.a.
1st year
then $199

Pros & cons

What's good?

What's not so good?

0% p.a. on balance transfers for 26 months which could help you get on top of things. A one-off 1.5% balance transfer fee applies.
Reduced annual fee of $0 p.a. in the first year, ($199 p.a. thereafter).
Earn 1 pt per $1 spent on eligible Domestic Spend in Australia, up to $10,000 per statement period.
Earn 1 pt per $1 spent on eligible International Spend overseas (uncapped).
Good points earning rate for a non-Amex card.
Complimentary International Travel Insurance, Purchase Cover Insurance and more.
Enjoy a free bottle of wine every time you dine at any of partner restaurants.
The 26 months balance transfer period is a long time to get it paid down to zero but any balance left unpaid will be charged interest at the 22.24% p.a. cash advance rate.
The $199 p.a. annual fee from the second year onwards is a considerable amount.
Points are capped at 10,000 per statement period for the card’s Citi Rewards Program.
No sign up bonus points.

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).

Disclaimer (2): Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the Citi Rewards Card Balance Transfer OfferReviewed by Yvonne Taylor

Citibank has created a unique combination of rewards plus one of the longest available zero-interest balance transfers, with the Citi Rewards Card Balance Transfer Offer. When the transferred balance has been cleared you can take advantage of a reasonable points earning rate in the Citibank Rewards program, a suite of complimentary insurance policies and a heap of other platinum card benefits.

  • Twenty-six months to sort out your finances, almost pain-free*

This has to be a godsend for anyone who needs time to put their financial affairs back on track. Transfer your balance from an existing card where you are struggling with repayments, or even consolidate your debts from several cards. It could mean a new start, provided you make a realistic plan that will see the balance cleared in 26 months.

There is a little pain to be endured at the outset, in the form of a 1.5% balance transfer fee, and the 22.24% p.a. revert rate promises more discomfort at the end if you don’t clear the balance in full in the time allowed.

A further drawback is the fact that having an unpaid balance transfer means that you forfeit the normal 'Up to 55 days on purchases’ interest-free period on purchases. Any purchases would attract the ongoing 21.49% p.a. purchase rate from the transaction date until they are repaid, so you are unlikely to accumulate reward points or qualify for free insurance while you have an unpaid balance.

Earn Citibank Rewards at a reasonable rate

Considering that this is a Visa card rather than an AmEx card, the earning rate of 1 point per dollar spent, while not overly generous, is fairly typical.
There is a points cap on purchases made in Australia, but at 10,000 per statement period it’s quite high and will only trouble big spenders who would probably find either the Citi Signature or the Citi Prestige card more suitable for their needs. International purchases (both online and in person) are not subject to a cap. So you can earn up to 10,000 points each month on domestic purchases, and unlimited points on overseas purchases.

Redeeming Citibank Rewards

Most people like to get something for nothing, and with Citibank Rewards you can get free merchandise, retail and entertainment gift cards, travel and accommodation, and even a cash credit to your card account, just for putting your everyday spending through your credit card. Here are a few examples of the ways in which you can exchange your points:

  • Buy merchandise in the Citi Rewards online catalogue. For example, a Bissell Powerforce vacuum cleaner or a Brother Compact laser printer
  • Swap points for a gift card – retail, car hire, hotel accommodation, movies and more – available in various denominations from $20 to $500.
  • Get a credit to your card account statement by effectively converting points to cash.
  • Convert your points to frequent flyer points with a choice of three airlines: Emirates, Singapore Airlines and Virgin Australia. Virgin and Singapore points cost 2.5 Citi Rewards points each, while an Emirates Skywards Mile costs 3.0 Citi points.
  • Book flights, cruises, hotel accommodation, car hire, or any other travel needs.
  • Useful complimentary insurance policies*

The many travel options available are a great way to use frequent flyer points, and they are enhanced by two insurance policies – international travel and transit accident – included with the card. All cardholders – primary and supplementary – are covered, together with their families.

Shoppers are not forgotten. They can take advantage of extended warranty and loss, theft and damage cover on their purchases. And if an item turns up at a significantly lower price up to three weeks after the day they bought it, they can obtain a refund of the price difference through the guaranteed pricing scheme.

Wine and dine – the wine’s on Citibank

Use your Citibank card to pay for your meal at any of partner restaurants in the Citibank Dining Program, and claim your free bottle of wine to accompany your meal. There’s a limit of one bottle of wine per visit, but no limit to the number of times you can take advantage of this great offer.

Visa Platinum benefits

Once approved for this card you can enjoy a host of platinum privileges, from a personal concierge – for assistance and information anywhere in the world that you happen to be – to reserved tickets for the hottest events. If you’re travelling overseas, you can access special offers and discounts through Citi World Privileges. The Citi Rewards Card lets you stand out from the crowd.

Convenient and versatile

You expect worldwide customer service 24/7 with your card, and Citibank promise that you’ll get it, as well as emergency card replacement if your card is lost, stolen or hacked.

The card comes equipped with Visa payWave, for fast contactless purchases under $100.

You can set up Citi alerts to tell you when you’re spending has reached a certain level, or when a payment is due, and payments can be automated to avoid the risk of paying interest if you miss the due date.

Download the Samsung Pay or Citi Pay app, to turn your smartphone into a mobile digital wallet.

Take advantage of the online budgeting tool to see where your money went, and plan your future spending.

It all comes at a cost, but it’s not unreasonable

For a card which has this many bells and whistles, the $199 p.a. annual fee is pretty much around the expected level. But there is a 'welcome aboard’ special waiting for you. In the first year, the annual fee is significantly discounted to $0 p.a.

Unfortunately, you will have to pay $90 p.a. per year for any supplementary card on the account. Some cards have no extra charge for additional cards, but this isn’t one of them.

Long zero-interest balance transfer for points collectors

If you believe that you deserve rewards points for your credit card spending, you might want to lock in this card so that you can look forward to collecting points once the balance transfer is cleared. You’ll need to plan to pay for your purchases in cash or with another card for a couple of years, temporarily foregoing the points and other benefits, because you’ll forfeit the interest-free days on purchases as a result of the unpaid balance transfer. After that, use your Citi card for both your everyday purchases and your travel needs, and watch the rewards and benefits roll in.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

The basics

About this card

Card setup
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
Same as standard
Rewards program
Citi Rewards
Temporary residents


Additional cardholders
Additional card fee
$90 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.26 months1.5%80% of credit limit22.24% p.a.

Balance transfers to this card

Balance transfer earns rewards
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
80% of credit limit
Available to existing customers

Banks you can't balance transfer from

You can't balance transfer to the Citi Rewards Card Balance Transfer Offer at the promotional balance transfer rate from:

  • Citi

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.26 months1.5%80% of credit limit 22.24% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

Cash advances 1.85% 22.24% p.a.
Purchases 1.79% 21.49% p.a.


Annual fee
$0 p.a.
Annual fee 2nd year
$199 p.a.
Cash advance fee
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
Overseas emergency card replacement fee
Transaction verification fee

Rewards & points

Cool stuff you can get with your points

Disclaimer: Points required accurate as of the 31st March 2018.

Rewards program basics

First purchase bonus
Reward points expiry
Never as long as you keep your account active
Rewards program
Citi Rewards
Sign up bonus
Spend required for bonus points

Earning points with this card

Frequent flyer points
Overseas earn rate
1 pt per $1 spent
Points cap per month
Points cap per year
Points earned on ATO payments
Reward points
1 pt per $1 spent

Additional benefits

Airport lounge access
Complimentary flight voucher
Concierge service

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $35,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Temporary residents are eligible
Age Pension, Disability Pension and Widower's Pension are acceptable.
Carer's Allowance and Child Support Payments are acceptable.
Joint applications are not allowed
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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