The lowdown.
About Citi credit cards
Citi, a global financial institution operating in Australia since the 1980s, had its consumer banking segment acquired by NAB on 1 June 2022. As a result, all credit card services previously offered by Citi are now issued under NAB, and existing Citi agreements have transitioned to NAB. Citi credit cards, now managed by NAB, cater to a variety of spending habits and financial goals, offering options like cashback, rewards, and low interest rate cards.
New customers can explore introductory offers on these cards, which may include bonus points, cashback, or promotional interest rates, providing added value for everyday spending or travel.
Types of Citi credit cards
Citi offers a range of credit cards designed to suit different lifestyles and financial needs, now issued under NAB. Here are some key types of Citi credit cards available:
- Rewards credit cards: Citi Rewards cards earn points on eligible purchases, redeemable for cashback, gift cards, shopping at retailers like Kogan, or travel. Points can also be transferred to partner programs such as Velocity Frequent Flyer, Flybuys, Etihad Guest Miles, or Singapore Airlines KrisFlyer Miles. Additional perks include complimentary travel and purchase protection insurance, airport lounge access, concierge services, and, for the premium Citi Prestige card, a free night on eligible hotel bookings and Priority Pass.
- Balance transfer credit cards: These cards offer a low or 0% introductory interest rate when transferring debt from non-Citi Australian credit cards, store cards, lines of credit, or personal loans which is a unique feature among Australian providers. Note that interest-free days on purchases aren’t available while paying off a balance transfer, so focus on clearing the transferred debt first to maximise value.
- Frequent flyer credit cards: Citi provides Qantas Frequent Flyer credit cards, earning up to 1.5 Qantas Points per $1 spent with the Citi Prestige card when enrolled in Citibank Qantas Rewards. The Emirates Citi World Mastercard, linked to Emirates Skywards, offers up to 1 Skywards Mile per $1 spent and perks like lounge passes, but it’s not currently accepting new applications.
- Low rate credit cards: The Citi Clear card features a 14.99% p.a. interest rate on purchases, lower than the average standard rate of around 20% p.a., though higher than some low-rate competitors.
- No annual fee credit cards: The Citi Simplicity card currently has no annual fee for life and offers simple features, including complimentary shopping insurance. With a high 22.49% p.a. purchase rate, it’s best for those who pay off their balance monthly to benefit from interest-free days.
Benefits of Citi credit cards
Citi credit cards, now under NAB, provide a variety of benefits to enhance your financial and lifestyle experiences. Here are some compelling reasons to consider a Citi credit card:
- Rewards programs: Earn Citi Rewards Points or cashback on everyday purchases, redeemable for travel, merchandise, gift cards, or statement credits, adding value to your spending.
- Introductory offers: Many cards come with attractive sign-up bonuses, such as extra points or cashback, boosting your rewards in the initial months of card use.
- Travel benefits: Frequent flyer and premium cards offer perks like travel insurance, airport lounge access, and concierge services, making travel more convenient and secure.
- Exclusive perks: Enjoy access to presale concert tickets, VIP events, or discounts with partner merchants and hotel brands, enhancing your cardholder experience.
- Trusted transition: With NAB’s backing, these cards combine Citi’s legacy of rewards with NAB’s reputation for reliable banking services in Australia.
Eligibility criteria for Citi credit cards
Eligibility requirements for Citi credit cards, now issued by NAB, vary by card type, but the following general criteria typically apply:
- Age: Applicants must be at least 18 years old to apply.
- Income: Most cards require a minimum income level to ensure applicants can meet repayment obligations.
- Residency: You must be an Australian resident or hold a valid visa to be eligible.
- Credit history: A good credit score is essential, as NAB will assess your creditworthiness during the application process.
- Additional factors: Financial stability and repayment capacity may also be considered to determine eligibility.
Confirm the specific eligibility criteria for your chosen card to ensure you meet all requirements before applying.
How to apply for a Citi credit card
Applying for a Citi credit card, now issued by NAB, is a straightforward process that can typically be completed online. Follow these general steps to apply:
- Select a card: Review the range of Citi credit cards to choose the one that best aligns with your spending habits and financial goals.
- Check eligibility: Verify that you meet the eligibility criteria, including age, income, residency, and credit history requirements.
- Gather documents: Prepare necessary documentation, such as proof of identity, income verification, and residential address details.
- Submit application: Visit the NAB or designated Citi credit card website to complete the online application form, ensuring all information is accurate.
- Wait for approval: NAB will review your application and conduct a credit check. You’ll be notified of the outcome, typically within a few business days.
- Receive card: If approved, your Citi credit card will be mailed to you, along with instructions for activation and use.
Providing accurate information during the application process is essential to improve your chances of approval.
Credit cards similar to Citi
If you are looking to take advantage of low promotional rate offers, balance transfer offers and rewards cards, here are 5 cards similar to Citi credit cards:
