Citi Rewards Platinum Card Points Offer | Review & Apply

Citi Rewards Platinum Card Points Offer

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Save money
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My monthly spend: 
$5,000
 
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Points earned
Citi Rewards Platinum Card Points Offer
Apply by 31 jan 20
Citi Rewards Platinum Card Points Offer
Earn up to 120,000 bonus points (Conditions apply).
Reduced annual fee of $49 p.a. in the first year ($149 p.a. thereafter).
Enjoy 0% p.a. for 15 months with 1% fee on balance transfers.
Add to comparison
Citi Rewards
Citi Rewards
1 pt
per $1 spent
up to $10,000
then 0.5 pts
per statement period
More info
80,000
points
after spend criteria

Pros & cons

What's good?

What's not so good?

Earn up to 120,000 bonus points. Get 80,000 bonus points when you spend $3,000 in the first 90 days from account approval date and an additional 40,000 bonus points on payment of second year annual fee.
Reduced annual fee of $49 p.a. in the first year ($149 p.a. thereafter).
Enjoy 0% p.a. for 15 months with 1% fee on balance transfers. Please note, no interest free days apply to retail purchases while you have a balance transfer.
Get 10,000 bonus Points when you request a Linked Diners Club Card during the application process, and then make your first spend on the Linked Diners Club Card within the first 90 days from approval.
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).
Transfer your Citi Rewards points to airline frequent flyer programs including Emirates Skyward Miles, Velocity Frequent Flyer and Singapore Airlines KrisFlyer.
Complimentary International Travel Insurance, Purchase Cover Insurance and more.
Enjoy a free bottle of award winning wine every time you dine at hundreds of participating restaurants with the Citibank Dining Program.
Citi Rewards points transfer over to airline frequent flyer programs at a less than a one-for-one ratio.
Points are capped at 10,000 per statement period for the card’s Citi Rewards Program.

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).
Please note, no interest free days apply to retail purchases while you have a balance transfer.

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 Platinum Card Points OfferReviewed by Yvonne Taylor

The Citi Rewards Platinum Card has become even more rewarding in a new format as the Citi Rewards Platinum Card Points Offer. You can take advantage of a spectacular and long-lasting points bonus, a more than acceptable ongoing points earning rate in the Citibank Rewards program, a suite of complimentary insurance policies, a free Linked Diners Club card and a stack of other platinum card benefits. There’s even a zero-interest balance transfer if you need it.

Potential for 120,000 Citi Rewards bonus points to welcome you aboard

If you don’t already have a Citi card, the bank will be so pleased to have you as a new customer they will shower you with valuable bonus points. All you have to do is spend at least $3,000 in the first 90 days after card approval in order to earn 80,000 bonus points. Then renew your card for a second year by paying the annual fee, and you’ll receive a further 40,000 bonus points

Those 120,000 points are worth around $575 in retail eVouchers, or could be exchanged for 48,000 Virgin Velocity points, or 40,000 Singapore Airlines or Emirates points.

They could also be exchanged for 90,225 flybuys, worth around $451 at the Coles checkout, but you’d get better value by exchanging them for $575 in Coles eVouchers.

Earn ongoing Citibank Rewards at a reasonable rate

Considering that this is a Visa card rather than an Amex card, the earning rate of 1.0 points 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, the cap is 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.

Could you make use of a free Diners Club card?

Here’s a painless way to earn an extra 10,000 Citi Rewards points: apply for a Linked Diners Club card at the same time as you make your Citi card application and then make at least one purchase using the Diners Club card in the first 90 days to receive 10,000 extra points.

There’s no additional annual fee to pay for the Diners Club card. You’ll be able to access both cards using the same PIN and online login, and pay both card balances with a single monthly payment. Plus, the Diners Club card’s earning rate of 2.0 Citi Rewards points per $1 spent (on all eligible transactions) is uncapped, and there are no foreign transaction fees to pay. Since the Citi card has a foreign transaction fee of 3.4%, you might decide to use the Citi card for local purchases and the Diners Club card for overseas purchases.

In fact, given the Diners Club card’s higher and uncapped earning rate, and the fact that it is accepted by many retailers including Coles, Woolworths and Bunnings, you may decide to give preference to using your Diners Club Card whenever you can find a merchant not imposing a transaction surcharge.

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 &ndash 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 Velocity points cost 2.5 Citi Rewards points each, while Emirates Skywards Miles and Singapore KrisFlyer Miles cost 3.0 Citi points.
  • Convert your points into flybuys (to spend at Coles) at the rate 1.33 Citi Rewards points = 1.0 flybuys.
  • 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 rewards 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 one of hundreds 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.

15 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, and pay 0% p.a. interest for 15 months, with a 1% upfront fee. It could mean a new start, provided you make a realistic plan that will see the balance cleared in 15 months. The 21.74% p.a. revert rate promises some 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’ interest-free period on purchases. Any purchases would attract the ongoing 20.99% p.a. purchase rate from the transaction date until they were repaid, so you are unlikely to accumulate reward points or qualify for free insurance while you have an unpaid balance.

This also means that you would probably miss out on the 80,000 bonus points available in the first three months, but you would still qualify for the second lot of bonus points – 40,000 – which depend on paying the second year annual fee, not on card purchases.

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 Platinum Card lets you stand out from the crowd.

Convenient and versatile

You expect worldwide customer service 24/7 with your card, and Citibank promises 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.

You can convert repayments for selected card purchases into a Citi Instalment Plan, committing to fixed monthly repayments in order to access a lower interest rate on the balance.

You can use the card in conjunction with Apple Pay and Samsung Pay. Turn your phone or other mobile device into a digital wallet, and leave your card at home.

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 $149 p.a. annual fee is pretty much around the expected level. But there is another ‘welcome aboard’ special waiting for you. In the first year, the annual fee is significantly discounted to $49 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.

Check out the competition

Even if this card sounds just like what you are looking for, it’s always a good idea to make sure there isn’t a better deal available elsewhere.

If the bonus points are your main objective, you’ll want to check out the offers on the ’Sign up bonus’ page in our Features section. If you’re looking for a zero-interest balance transfer, visit our Balance Transfer page.

One of the best bonus points offers at this price

Bonus points offers of this magnitude are usually attached to far more expensive cards. They are great for the first 12 months, but after that, it can be more difficult to extract enough value to justify the annual fee. However, the Citi Rewards Platinum Card Points Offer delivers the best of both worlds – lots of bonus points, with not only a reduced first-year fee but a reasonable ongoing annual fee. If you use your Citi card and your bonus free Diners Club card for both your everyday purchases and your travel needs, you can watch the rewards and benefits roll in and finish up ahead in every year, not just the first.

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
Single
Card tier
Platinum
Card type
Visa
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$35,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Citi Rewards
Temporary residents
Yes

Cardholders

Additional cardholders
4
Additional card fee
$90 p.a.

Credit limits

Minimum credit limit
$6,000
Maximum credit limit
$100,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.15 months1%80% of credit limit21.74% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Yes
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
No

Banks you can't balance transfer from

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

  • Bank of Queensland
  • Beyond Bank
  • Citi
  • Family First Credit Union
  • FCCS Credit Union
  • IMB
  • MyState Financial
  • Qantas Money
  • Suncorp

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.15 months1%80% of credit limit 21.74% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.81% 21.74% p.a.
Purchases 1.75% 20.99% p.a.

Fees

Annual fee
$49 p.a.
Annual fee 2nd year
$149 p.a.
Cash advance fee
3.5%
Dishonour fee
$15
Duplicate statement fee
$0
Foreign exchange fee
3.4%
Late payment fee
$30
Over limit fee
N/A
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$5
Overseas emergency card replacement fee
$0
Transaction verification fee
N/A

Rewards & points

Cool stuff you can get with your points

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

Earn rates

Spend typeSpend
Everyday spend
Up to $10,000
1 pt per $1 spent
per statement period
0.5 pts per $1 spent
ResetN/A
Points cap10,000

Rewards program basics

First purchase bonus
80,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Citi Rewards
Spend required for bonus points
$3,000 within 90 days from approval date

Earning points with this card

Frequent flyer points
N/A
Overseas earn rate
1 pt per $1 spent
Points cap per month
10,000
Points cap per year
120,000
Points earned on ATO payments
N/A
Reward points
1 pt per $1 spent up to $10,000 then 0.5 pts per $1 spent per statement period

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

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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