Citi Prestige Credit Card

Roland Bleyer

Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.

The Big Review: Citi Prestige Credit Card

Offering an incredible range of prestige features, the Citi Prestige Credit Card certainly lives up to its name. Cardholders can benefit from an extensive array of travel, lifestyle and entertainment perks, while earning up to 3 points per $1 on their card – and with 150,000 bonus points now on offer to new applicants, this is most definitely the time to apply.

• 150,000 bonus points when you spend $5,000 in the first 90 days from account approval
• Earn up to 3 points per $1
• Ability to transfer points to Emirates Skywards, Velocity Frequent Flyer and Singapore Airlines KrisFlyer and other international frequent flyer programs
• Select complimentary airport transfers
• Unlimited access to more than 1,200 airport lounges worldwide through Priority Pass
• A complimentary night's stay at Citi’s premium partner hotels around the world
• Complimentary fourth night stay at any hotel worldwide
• 24/7 Personal Concierge
• Complimentary insurance cover
• Complimentary bottle of wine when you dine at partner restaurants. T&Cs apply
• Three complimentary green fees at participating golf clubs per calendar year
• Pre-release access to tickets through Visa Front Line
• Up to four additional cardholders at no extra cost
• Up to 44 days interest free on purchases
• $700 annual fee
• Credit limit $30,000 - $100,000
• Minimum income requirement $150,000 p.a.
• 21.49% p.a. standard variable purchase rate
• 22.24% p.a. cash advance rate
• Earn 10,000 bonus Points when you apply for a Linked Diners Club Card during the application process and make your first spend on the Linked Diners Club Card

This Card: The Lowdown

With a high earn rate and no points cap in place, the Citi Prestige Credit Card is the ideal card for big spenders who want to earn points aggressively. Cardholders can earn points on the Citi Rewards program, or transfer the points they earn to other frequent flyer programs, such as Emirates Skywards, Velocity Frequent Flyer and Singapore Airlines KrisFlyer.

Offering an enticing array of travel, lifestyle and entertainment perks, this card is perfect for cardholders who want something extra from their card. And with 150,000 bonus points currently on the table, this card becomes even more attractive.

What could you get for 150,000 points?

• Fancy a trip to Europe? You could fly from Sydney to London Heathrow.
• Earning points on the Velocity program? Transform those bonus points into 75,000 Velocity Points.

As a prestige offering providing prestige features, this card has more than its fair share of perks.

• Complimentary one-way transfer to or from selected airports twice per year in the Asia Pacific.
• Unlimited access to more than 850 airport lounges worldwide through Priority Pass, plus additional Priority Pass benefits.
• Enjoy a complimentary night's stay at Citi’s premium partner hotels around the world using the card’s Free Nights Program.
• Citi’s Free Nights Program also offers a complimentary fourth night stay at any hotel worldwide, so pay for three nights and get the fourth night free.
• 24/7 Personal Concierge
• A complimentary bottle of wine when dining at participating restaurants through the Citibank Dining Program. T&Cs apply
• Three complimentary green fees at participating golf clubs per calendar year through Citi’s Golf Privileges.
• Skip the queue and enjoy pre-release access to tickets through Visa Front Line.

This card also offers cardholders peace of mind when they shop and as they travel, with a range of complimentary insurance covers:

• International Travel Insurance
• Interstate Flight Inconvenience Insurance
• Transit Accident Insurance
• Purchase Cover Insurance
• Guaranteed Pricing Scheme
• Extended Warranty Insurance

Digging Deeper

With the basics covered, it’s time to dig a little deeper into what’s on offer with the Citi Prestige Credit Card, so you can decide whether this card is right for you.

This Card: As a Rewards Card

An excellent choice for anyone looking to earn big on their credit card spending, this card has a fantastic earn rate, and no points cap in place. That means you can earn as many points as you want each month, with no tiered system to worry about. You can also earn points faster, with up to four additional cardholders at no extra cost.

• Earn 3 points per $1 spent on eligible international purchases.
• Earn 3 points per $1 spent on selected domestic purchases made and booked directly from a range of major restaurants and restaurant chains, hotel chains and airlines (flights only).
• Earn 2 points per $1 spent on selected domestic purchases made at major petrol outlets, supermarkets and national retailers.
• Earn 1 point per $1 on other eligible domestic purchases.

You may have noticed that the highest advertised earn rate favours international spending and travel-related purchases. This is great, as long as you have a considerable overseas spend and you travel extensively. However, it is worth noting that the card attracts a 3.4% foreign transaction fee, which may affect the points-earning potential on international spending.

What about those 150,000 bonus points? To be eligible you must apply online and spend $5,000 in the first 90 days from account approval. Your bonus Citi Rewards Points will be credited within six to eight weeks of meeting the spend criteria.

When it comes to redeeming your bonus points and the points you earn, you have a number of options available to you.

• Redeem points in the Citi Rewards Store for digital gift cards, flights, merchandise and more.
• Transfer points to other frequent flyer programs, including Emirates Skywards, Velocity Frequent Flyer and Singapore Airlines KrisFlyer.
• Opt for Pay with Points, where you use your points to pay for something and then receive a statement credit.

This Card: As a Travel Rewards Card

With a focus on rewards point earning on international spending and travel purchases, this is a card that rewards the frequent traveller. For that reason, it’s no surprise that the Citi Prestige Credit Card also focuses its features on extras that benefit the frequent traveller as well.

Airport Transfers

No more worrying about the taxi arriving on time or the Uber having enough boot space for your suitcase, with the card’s Luxury Airport Transfer Service, you can arrive at the airport in style. As a cardholder, you can enjoy one complimentary one-way transfer to or from selected airports in the Asia Pacific, twice a year.

Bear in mind, Luxury Airport Transfer will only transport a maximum of four passengers, with a total of two large suitcases. There is a complimentary transfer allowance limit, which is based on driven kilometres in each city, with limits varying from city to city. Any excess charges beyond the complimentary allowance will be advised to the cardholder upon confirmation of the booking.

Airport Lounge Access

With complimentary Priority Pass access, this card also makes long airport stays and layovers all the more comfortable, with unlimited airport lounge access for you and a guest. As a cardholder, you will benefit from Priority Pass membership, which not only gives you unlimited lounge benefits, it also provides extra perks such as discounts at airport restaurants.

Within Australia, Priority Pass lounge access is currently available at Cairns, Darwin and Brisbane International Airports and Sydney Kingsford Smith. Overseas, some of the most enticing lounges include those found within airports in Hong Kong, Singapore, London Heathrow, Dubai and Barcelona.

Stay for Free

Citibank’s Free Nights Program offers extra temptation to stay away a little longer. With the Citi Prestige Credit Card in your wallet, you can enjoy a little luxury with a complimentary night at one of Citi’s premium hotel partners around the world. Blackout dates apply. Plus, you can choose to extend your trip with a complimentary extra night at any hotel worldwide when you stay for four consecutive nights.

This Card: Extras on Offer

Anything else? Of course, when you pay $700 each year in annual fees, you expect a little more from your credit card. Fortunately, Citi understands this, and offers a selection of additional features to keep even the most discerning cardholder happy.

Personal Concierge

Like most prestige credit cards, the Citi Prestige Credit Card offers a personal concierge service. Available 24 hours a day, seven days a week, the Citi concierge service can assist cardholders with everything from booking flights and hotel accommodation, to making restaurant reservations and offering recommendations on where to go and what to do, no matter where they are in the world.

Complimentary Insurance

Again, similar to other prestige credit card offerings, the Citi Prestige Credit Card provides cardholders with some added peace of mind, in the form of complimentary insurance cover. Cardholders can benefit from protection when travelling, with:

• International Travel Insurance
• Interstate Flight Inconvenience Insurance
• Transit Accident Insurance

And when using their card to make a purchase, cardholders have cover in the form of:

• Purchase Cover Insurance
• Guaranteed Pricing Scheme
• Extended Warranty Insurance

Citibank Dining Program Membership

If you love wining and dining, the Citibank Dining Program could be very beneficial indeed. Every time you dine at a participating restaurant, you can enjoy a free bottle of wine, just like that. All you need to do is mention you're a Citibank cardholder at partner restaurants, choose your free bottle of wine from the Citibank selection, and pay for your meal with your Citibank card. T&Cs apply.

There are hundreds of partner restaurants to choose from, from your favourite restaurant in the next suburb, to some of Australia's best-loved, hatted restaurants. There, you can choose from award-winning wines sourced from McWilliam's Wines Group, one of Australia's most respected family-owned wineries. To find your nearest partner restaurant, visit the Citi website.

Golf Privileges

Teeing off just got a little more appealing, with the card’s Golf Privileges offering three complimentary green fees at participating golf clubs, each calendar year. Just be aware that the booking must be made between 5 to 14 days in advance of tee-off, and certain terms and conditions apply.

Visa Front Line Access

No one likes queuing, which is why Visa Front Line offers members the ability to skip the queue when buying tickets for sporting events, concerts and so much more. With Visa Front Line access, cardholders can skip the queue, while taking advantage of tickets before they are made available on general release.

This Card: The Essentials

Now we’ve gone over all the fun stuff, it’s time to get into the not-so-fun stuff. To be eligible to apply for this card, you must be 18 years or older and an Australian resident, and you must earn more than $150,000 per year. Also know that the card has a minimum credit limit of $30,000 and a maximum credit limit of $100,000.

As for the card’s annual fee, this is significant. You will pay $700 per year in annual fees, but, it is worth thinking about all the extras you get for that payout. If you are a big spender, you may easily get that value back in rewards, plus, you can enjoy the vast range of features the card has to offer.

However, to make it all worthwhile, you will need to pay off your balance in full before interest starts accruing. With a high standard purchase rate, this card will make all those rewards, features and extras null and void if you carry a balance month-to-month.

Decision Time

With so much on offer, the Citi Prestige Credit Card is a very appealing card indeed. Big spenders can earn big on rewards, with 150,000 bonus points making the deal even sweeter. And, if you like a little extra from your credit card, this Citi offering has more features and perks than you’ll know what to do with, including airport lounge access and transfers, hotel stays and plenty of lifestyle extras.