Citi Rewards Signature Credit 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 Signature Credit Card Points Offer
Apply by 31 mar 19
Citi Rewards Signature Credit Card Points Offer
Earn up to 300,000 points. (Conditions Apply)
0% p.a. for 12 months on balance transfers with no balance transfer fee.
2 pts per $1 spent on selected purchases and receive a complimentary Priority Pass membership with two airport lounge visits per year.
Add to comparison
Citi Rewards
Citi Rewards
1 pt
per $1 spent
300,000
points

Pros & cons

What's good?

What's not so good?

Earn up to 300,000 points, earn 15,000 bonus points each month for 20 months from approval when you spend $1,000 or more in each statement period.
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.
0% p.a. for 12 months on balance transfers with no balance transfer fee.
2 pts per $1 for selected domestic purchases made and booked directly from a range of major: restaurants and restaurant chains, hotel chains and airlines (flights only).
1.5 pts per $1 for selected domestic purchases made at major: petrol outlets, supermarkets and national retailers.
2 pts per $1 spent on eligible International Spend.
Transfer your Citi Rewards points to airline frequent flyer programs including Virgin Australia Velocity and Singapore Airlines KrisFlyer.
$195 p.a. annual fee for the first year, $395 p.a. thereafter.
A range of complimentary insurances.
Free wine every time you dine with the Citibank Dining Program.
Loads of value but the $395 p.a. annual fee in the second year is a substantial cost.
Citi Rewards points transfer over to airline frequent flyer programs at a less than a one-for-one ratio.
No option to earn points into the Qantas program.
Once the balance transfer rate ends it reverts to the cash advance rate which could really sting if you are still carrying a big balance at the end.

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™ and Conditions of Use please refer to www.prioritypass.com

Our review

Our review of the Citi Rewards Signature Credit Card Points OfferReviewed by Yvonne Taylor

Enjoy the more rewarding things in life with the Citi Rewards Signature Credit Card Points Offer. If you appreciate a lifestyle in which travel and restaurant dining are significant features, you’ll want to take a look at this card. Since you are already spending a considerable amount on these items, it makes sense to receive substantial rewards for doing exactly what you normally do, without making any changes to your spending pattern.

There’s also the potential to earn a massive 310,000 bonus points – 300,000 points for relatively moderate but consistent spending in the first 20 months, plus a further 10,000 points if you also apply for a Linked Diners Club card.

Earn up to 2.0 Citi Rewards points per dollar on selected purchases

For every dollar you spend you’ll earn points in the worthwhile Citibank Rewards program, as follows:

  • 2.0 points per dollar for all eligible international spending
  • 2.0 points per dollar for selected domestic purchases booked directly at a range of major restaurants, hotel chains and airlines (flights only)
  • 1.5 points per dollar for selected domestic purchases from major petrol outlets, supermarkets and national retailers
  • 1.0 points per dollar spent everywhere else on eligible domestic transactions

Note that transactions with government bodies (ATO, Australia Post, local government rates, &c) will not earn any points.

Points are uncapped, so there’s no need to worry that a big-spending month (or year) will see you missing out on potential points.

Potential for 300,000 bonus points

This is a truly generous bonus points offer, requiring little effort on the cardholder’s part. For every month in which you spend at least $1,000 with the card, during the first 20 months, you’ll earn 15,000 bonus points, over and above the up to 2,000 standard points you will earn on the same $1,000. Spend at least $1,000 in each of the 20 months (probably not too difficult, given that the minimum income in order to qualify for this card is $75,000) and you could earn a massive 300,000 extra points.

Those 300,000 points would entitle you to more than $1,500 in retail spending vouchers, or 120,000 Virgin Velocity points, or 100,000 Emirates or Singapore Airlines points.

Apply for a Linked Diners Club card and score a further 10,000 points

If you apply for a Linked Diners Club card when you make your application for this Citi card, and make a purchase using the Diners Club card in the first 90 days, you’ll receive an extra 10,000 Citi Rewards points.

This extra card is free (i.e. no additional annual fee to pay), convenient (use same PIN and online login for both cards, pay both card balances with a single monthly payment) and rewarding (earn 2.0 Citi Rewards points per $1 spent, uncapped). The card will also appeal to overseas travellers and shoppers, since there are no international transaction fees to pay. Consider using the Citi card for purchases in Australia, and then avoid the Citi card’s 3.4 percent foreign transaction fee by using the Diners Club card for overseas transactions. Meanwhile, local spenders may be pleasantly surprised by the Diners Club card’s acceptance at stores like Coles, Woolworths, Bunnings and many more national retailers.

Redeeming Citibank Rewards

You can redeem reward points for travel, gift cards, cash back, merchandise and more. Options include gift cards to spend at major retailers, magazine subscriptions, movie tickets, or a prepaid Citi Mastercard or Visa gift card to spend anywhere.

You can convert your rewards points to frequent flyer points with Virgin Australia, Singapore Airlines or Emirates, or use your Citi Rewards points to book flights with other airlines.

Other options are the online catalogue with an extensive range of homewares, fashion, technology, and more, as well as the opportunity to offset points against travel and accommodation packages and car hire, paying any remaining balance in cash.

0 percent interest on balance transfers for 12 months

If you are prepared to wait a while before you start earning rewards points, you can take advantage of a generous balance transfer offer for new cardholders. Simply transfer your existing credit or store card balances to your new Citi card (up to 80 percent of your approved credit limit) and pay no interest on the balance for 12 months, with no upfront balance transfer fee.

This offer is more likely to appeal to someone who could actually afford to pay off the balance immediately, but prefers to earn interest on their cash by putting it in a deposit account or mortgage offset account for 12 months instead. Pay off the balance just before it starts to attract the revert interest rate of 21.74 percent p.a. (the cash advance rate) and pocket a tidy sum in interest earned or offset.

Postpone using a balance transfer card for purchases

If you’re wondering why you would need to postpone earning those high rewards points if you take up the balance transfer option, the explanation is this: although the card offers 'up to 55 days interest free’ on purchases, this only applies if you pay off the balance of your account in full every month. Having an unpaid balance transfer would temporarily remove this privilege, and you would pay interest on purchases at 20.99 percent from the day the purchase was made. So hang on to one of your old cards to use for purchases until you have repaid the transferred balance and your 55 interest-free days are restored.

Sadly, this would mean that you’d miss out on those 15,000 monthly bonus points for the first 12 months, but there would still be eight months left in which you could spend $1,000 each month and potentially earn 120,000 points.

Free airport lounge membership

Citibank will pay the cardholder’s annual membership fee of US$99 and the cost of two lounge visits per year (US$27 each visit, worth US$54 per year if used) for Priority Pass airport lounges. There are more than 1,200 Priority Pass lounges worldwide, including seven in Australia.

Citibank World Privileges

Overseas travellers benefit yet again from the Citibank World Privileges special offers and discounts program. While theoretically it operates in Australia, it’s essentially limited to the Citibank Dining Program (see below) and a very small number of accommodation options. But for international travellers there are ’26,000 merchants around the world’ according to Citibank, so it’s worth checking out your destination’s offers before you travel.

Citibank Dining Program: free wine

When you’re not jetting around the world you probably like to relax at a local restaurant with a meal accompanied by a good wine. Citibank have arranged everything, with a list of over 400 partner eateries who will provide you with a free bottle of wine, worth about $35, provided you indicate your intention to pay with your Citi card and order at least one main course per person (or spend a minimum of $50 for a shared meal, like pizza, tapas or yum cha).

Personal concierge service

Could you use a personal assistant who never sleeps, to sort out problems like restaurant bookings and theatre tickets, or gifts for your business contacts, services particularly useful if you are in an unfamiliar city? Your Citi Signature card entitles you to access this premium service wherever you are in the world.

Six complimentary insurance policies

All of the customary complimentary credit card insurance policies are included with this card, including the ones that really matter to regular travellers: annual multi-trip overseas travel cover, interstate flight inconvenience (both of them including rental car insurance excess) and transit accident insurance. As a bonus you also get extended warranty insurance (up to 12 extra months), purchase protection insurance (90 days cover against loss, theft or damage) and guaranteed pricing cover (in case you buy something in a store that later goes on sale).

These policies are all activated when you use your card to pay your travel fares or purchase an item which becomes the subject of a claim.

Potentially high annual fee quickly recouped

The regular annual fee for this card is an undeniably substantial $395, but in the first year you’ll get a discount of more than 50 percent and pay only $195. This discounted first year annual fee pales into insignificance when compared with the value of the 180,000 bonus points you could potentially earn in 12 months (at the rate of 15,000 per month).

But wait, there’s more. In subsequent years where you spend at least $48,000 using the card (an average of $4,000 per month) you’ll get a 50 percent annual fee discount, still paying only $197.50.

Even if you had to pay the full ongoing fee of $395 p.a., it would be quickly recovered by a shrewd use of the card’s benefits. The complimentary insurance policies alone are worth more than $1,300 per year when used. Free wine, if you dine at Citibank partner restaurants at least six times per year, adds a further $210. Priority Pass Lounge membership and passes are worth $200 p.a. This all adds up to a total of $1,710 per year, without even considering the value of any rewards points earned.

You can have up to four supplementary cards on your account, free of any extra charge.

Check out the competition

There’s no shortage of prestige credit cards, all offering different combinations of benefits and privileges. The trick is to choose the one that will deliver the best value based on your own lifestyle and spending pattern. It’s worth checking out the Westpac Altitude Black Credit Card and the American Express David Jones Platinum Credit Card before you make up your mind.

Is the Citi Rewards Signature Credit Card Points Offer right for you?

It’s strikingly obvious that this card rewards travel and dining expenditure, with extra points, free travel insurance, airport lounge access, Citibank World Privileges, free wine when you dine and a concierge service. The more these benefits fit your lifestyle, the more useful the card will be. And with 310,000 bonus points and a free Diners Club card on offer, it’s not such a hard decision.

The basics

About this card

Card setup
Single
Card tier
Signature
Card type
Visa
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$75,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Citi Rewards
Temporary residents
Yes

Cardholders

Additional cardholders
4
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$15,000
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.12 months0%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 Signature Credit 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.12 months0%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
$195 p.a.
Annual fee 2nd year
$395 p.a.
Cash advance fee
3.5%
Dishonour fee
$15
Duplicate statement fee
$2
Foreign exchange fee
3.4%
Late payment fee
$10
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

Rewards program basics

First purchase bonus
N/A
Reward points expiry
Never as long as you keep your account active
Rewards program
Citi Rewards
Sign up bonus
300,000 points
Spend required for bonus points
$1,000 or more each statement period

Earning points with this card

Frequent flyer points
N/A
Overseas earn rate
2 pts per $1 spent
Points cap per month
Unlimited
Points cap per year
Unlimited
Points earned on ATO payments
N/A
Reward points
1 pt per $1 spent

Additional benefits

Airport lounge access
Yes
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 $75,000 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
Joint applications are not allowed
Temporary residents are eligible
Age Pension, Disability Pension and Widower's Pension are acceptable.
Carer's Allowance and Child Support Payments are acceptable.
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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