Citi Premier Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

The Citi Premier Card Offer Review

Applying for a new credit card ensures one of the best perks - a welcome offer. Citi Premier Card provides its new cardholders an outsized combo offer of up to 200,000 bonus Citi reward Points, reduced annual fee in the first year, and 0% p.a. interest on balance transfers for 6 months. You can also enjoy loads of benefits and perks such as several ways of earning more points, cashback and discounts with participating retail and service provider partners, complimentary travel insurance covers, mobile phone insurance, and other retail insurance covers, and complimentary airport lounge passes per year.

Let’s get into the details of what Citi Premier Card has to offer.

What we love…

When you apply for a new Citi Premier Card by 30 April 2024, you will receive an abundant welcome bonus offer of up to 200,000 bonus Citi reward Points. You will get the 150,000 bonus Citi reward Points when you spend a minimum of $7,000 on eligible purchases using your new card within 90 days from approval. It will be credited to your Rewards Balance within 8 weeks of meeting the spend criteria. The additional 50,000 bonus Citi reward Points will be deposited into your account within 12 weeks of your card being active for 12 months.

Along with the bonus points offer is the discounted annual fee in the first year at $150, currently $300. You can still enjoy this half discount each subsequent year if you spend $48,000 on eligible purchases or cash advances in the previous year.

Additionally, you will also enjoy 0% p.a. interest on balance transfers for 6 months, no balance transfer fee. Reverts to cash advance rate. Citi allows you to transfer up to 80% of your approved credit limit, giving you some grace time on card spending and interest. As with any balance transfer offer, there are no interest-free days on purchases until the balance transfer has been paid off.

What makes this card more enticing is its long list of ways to earn more points. Earn 2 Points per $1 spent on eligible international transactions as well as those purchases made online. Earn 1 Point per $1 spent on eligible domestic transactions. Citi reward Points are capped at 200,000 per year. Earn more points with Citi PayAll Spend at 1 Point per $1 spent on all eligible everyday expenses, uncapped.

What’s not so great…

As common with rewards cards, Citi Premier Card has a relatively high rate of interest on both purchases and cash advances. The ongoing purchase rate and cash advance rate are currently at a whopping 21.49% p.a. and 22.24% p.a., respectively.

Another snag worth mentioning, if you move your existing balance to Citi Premier Card, you will not be eligible for the 55-day interest-free period until you have paid off the balance transfer.

Lastly but the most impactful one is the capping of points. Citi reward Points are capped at 200,000 per 12-month period. This applies to purchases made online, internationally, and within Australia. However, you can still enjoy earning uncapped Citi reward Points with Citi PayAll when pay for your rent, taxes, education fees, property management fees, childcare, miscellaneous bills, and more using your Citi Premier Card. Transaction limits still apply with Citi PayAll payments.

Why should you choose this card?

If you are looking for a card that can service most of your needs in a plastic facility, Citi Premier Card might be the perfect choice for you as this offers a lot more.

Earning points

• Receive up to 200,000 bonus Citi reward Points - 150,000 when you spend $7,000 on eligible purchases within 90 days from approval, plus an additional 50,000 bonus Citi reward Points when you keep your card for over 12 months
• Earn 2 Citi rewards Points per $1 on all eligible international transactions made overseas or online with a merchant that is based overseas
• Earn 1 Citi rewards Point per $1 on all eligible domestic transactions
• Earn 1 Citi rewards Point per $1 on all eligible transactions using Citi PayAll

Spending points

• Pay with Points. Use your Citi reward Points in paying on on eligible purchases.
• Shop with Points. Use your Citi reward Points at kogan.com in paying for TVs, appliances, homewares, and much more.
• Points Transfer. Transfer your Citi reward Points to Airline and Other Loyalty Programs such as Velocity Frequent Flyer, Emirates Skywards, Singapore Airlines KrisFlyer, flybuys and more.

My Cashback

My Cashback is a no-fuss, hassle-free rewards program of Citi which allows cardholders to automatically receive monthly cashback on their purchases when they use their Citi Clear Card to shop from their favorite brands. Access the program in the Citi Mobile® App and check some personalised offers.

Benefits and Extras on Offer

• Complimentary lounge passes. Enjoy two airport lounge passes per year with your Priority Pass membership.
• Complimentary Travel Insurance. Complimentary International Travel Insurance for six consecutive months, Interstate Flight Inconvenience Insurance, Transit Accident Insurance.
• Complimentary Retail Insurance. Complimentary Purchase Cover Insurance, Guaranteed Pricing Scheme, and Extended Warranty Insurance.
• Complimentary Mobile Phone Insurance. Get monthly cover on your mobile phone for accidental damage or theft, T&Cs apply.
• Citi PayAll. You can take advantage of the Citi PayAll feature which lets you schedule recurring payments for your rent, education fees, childcare, taxes, bills, and more. Effective 1 November 2023, the Citi PayAll fee changed to 0.95% of the amount being paid.

* Note: as of 16 October 2023, the Linked Diners Club card is no longer available with Citi.

Overall Rating

Beyond rewards, Citi Premier Card comes with a lot of helpful benefits and other essential offers. Though there are drawbacks, they can be overcome with utmost caution. If this card fits your spending patterns, apply now and enjoy the juicy welcome bonus offer of up to 200,000 bonus Citi reward Points, discounted annual fee in the first year, and 0% p.a. interest on balance transfers for 6 months.