Citi Rewards Signature Credit Card Points Offer

My monthly spend: 
$5,000
 
Offer
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
Citi Rewards Signature Credit Card Points Offer
Apply by 31 jan 18
Receive 120,000 bonus reward Points when you spend $3,000 in 90 days from Card approval.
2 pts per $1 spent on selected purchases and receive a complimentary Priority Pass membership with two airport lounge visits per year.
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120,000
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Pros & cons

What's good?

What's not so good?

Receive 120,000 bonus reward Points when you spend $3,000 in 90 days from Card approval.
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.
1 pt per $1 spent everywhere else on domestic Eligible Transactions.
Transfer your Citi Rewards points to airline frequent flyer programs including Virgin Australia Velocity and Singapore Airlines KrisFlyer.
$199 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.

Earn up to 2.0 points per dollar on selected purchases

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

  • 2 pts per $1 spent 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 pt per $1 spent spent everywhere else on eligible domestic transactions

Note that transactions with government bodies (ATO, Australia Post, local government and rates) 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.

120,000 points first purchase bonus

Get your rewards points account off to a great start. Simply use your new card to spend $3,000 in 90 days of card approval, and receive a credit of a mammoth 120,000 points.

Unfortunately, this offer is not available to anyone who already has any type of Citibank card.

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% p.a. interest on balance transfers for 15 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 (80% of credit limit) and pay no interest on the balance for 15 months. You will, however, be required to pay a 1% balance transfer fee upfront.

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 15 months instead. Pay off the balance just before it starts to attract the revert interest rate of 21.74% 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 on purchases’ 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% p.a. from the day the purchase was made. So hang on to one of your old cards to use for purchases until two months after you have repaid the transferred balance and your Up to 55 days on purchases are restored.

Make sure you don’t miss out on your 120,000 points, however. Use your card for any major purchases when you spend $3,000 in 90 days. But avoid interest by making payments to clear the transactions from your account on the day they were made. This can be a bit of a nuisance, but it’s worth it for 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 1,000 Priority Pass lounges worldwide and four in Australia, in Sydney, Brisbane, Darwin and Cairns. So regular international travellers may get a more significant value from this membership, by being able to use lounges in other countries.

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 around 280 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.

High annual fee quickly recouped

The regular annual fee for this card is an undeniably substantial $395 p.a. but in the first year you’ll get a discount of almost 50% and pay only $199 p.a. The first year annual fee is more than cancelled out by the value of the 120,000 points, and the higher ongoing fee of $395 will be quickly recovered in subsequent years by a shrewd use of the card’s benefits.

The complimentary insurance polices 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 4 supplementary cards on your account, free of any extra charge.

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 120,000 points on offer, it’s not such a hard decision.

The basics

About this card

Card setup
Single
Card tier
Black
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
$5,000
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 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
  • 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
$199 p.a.
Annual fee 2nd year
$395 p.a.
Cash advance fee
3.5%
Dishonour fee
$15
Duplicate statement fee
$7
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
120,000 points
Reward points expiry
Never as long as you keep your account active
Rewards program
Citi Rewards
Spend required for bonus points
$3,000 in 90 days

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 pointers 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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