Ask Pauline a Question

Hi, I’m a personal finance expert who loves to help you out! I’ll answer your question within a business day. Pinky swear.

We ask for your email so we can respond to you directly. We won’t share your personal data. For more information, see our privacy policy.

N/A
Citi Rewards Card – Purchases and Balance Transfer Offer
Citi Rewards Card – Purchases and Balance Transfer Offer

Citi Credit Cards

Citi Rewards Card – Purchases and Balance Transfer Offer

Updated 30 April 2024

Need a breather from interest? The Citi Rewards Card gives you space to get back on top. If you apply for a new Citi Rewards Card, you'll get 0% p.a. on both purchases and balance transfers (plus no balance transfer fee) for 12 months from card approval. You'll also get complimentary mobile phone insurance plus retail and travel insurance, and earn Citi reward Points on eligible transactions. T&Cs apply.

Purchase Rate (p.a)

0% p.a.

for 12 months. Reverts to 21.49% p.a.

Balance Transfer (p.a)

0% for 12 months 0% balance transfer fee applies.
Reverts to 22.24% p.a.

Annual Fee (p.a)

$199

$0 over 12 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. on balance transfers for 12 months, no balance transfer fee applies. Reverts to cash advance rate
  • 0% p.a. on purchases for 12 months. Reverts to variable retail purchase rate, currently 21.49% p.a.
  • Enjoy 10% discount (up to $250) Limited Time Lux Exclusive hotel offers. Offer available until 1 March 2025.
  • Earn 1 Citi reward Point per $1 spend on eligible Domestic Spend (up to $10,000 per statement period) and a separate 1 point on international spend
  • Earn 1 Citi reward Point per $1 spend also on expenses including rent, taxes, education, property management fees, and childcare with Citi PayAll Spend
  • Up to 55 days interest-free on retail purchases
  • Enjoy monthly cashback offers from your favourite stores with My Cashback
  • Complimentary mobile phone insurance
  • Complimentary retail and travel insurance covers

  • Interest free days won’t apply for retail purchases if you have a balance transfer
  • High cash advance and purchase rates, currently 22.24% p.a. and 21.49%, respectively
  • Additional cardholder fee of $90

Creditcard.com.au review

Editor Review

Citi Rewards Card – Purchases and Balance Transfer Offer

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

The new, limited-time offer on the Citi Rewards Card makes it a much more versatile card. Already a decent low-cost rewards card, Citi has now added two helpful bonuses: 12 months interest-free on new purchases and balance transfers. It’s worth a gander if you want to make a big purchase and pay it off interest-free, or be the boss of your debt and still get points and perks.

What we love...

I’ll go through the promotional offers and clear up some of the fine print.

The 0% purchase offer: The 12 months kick in on the date of your application approval (you must be a new customer to Citi Rewards credit cards to apply, but you can have had a different Citi card before). Once the 12-month promo period ends, the regular purchase rate of 21.49% p.a. will start up again.

The balance transfer offer: You won’t pay interest interest on any debt you move from a non-Citi-branded credit card for 12 months. You can transfer up to 80% of your existing credit limit (ie, if your limit was $10,000, you could transfer $8000). You won’t pay a balance transfer fee, either.

A note about Citi balance transfers: Citi’s balance transfers are a cut above because you can transfer more than just credit card debt. Unlike most credit providers, it also includes flexible personal loans, lines of credit like Buy now pay later services, and Visa and Mastercard balances from all banks. You just can’t transfer from an existing Citi account.

Discounts: Citi has some nice deals with partnering companies that turn into discounts for you. For instance, you can get a 10% discount Limited Time Lux Exclusive hotel offers (up to $250). Use your card and enter the promo code when you’re booking. The offer ends 1 March 2025.

Citi has also introduced its new My Cashback program, where you’re sent personalised offers for your favourite stores through the Citi Mobile app, and earn cashback when you use an offer and pay with your Citi Rewards Card.

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%.

Other benefits include:

  • Earn Citi reward Points on eligible transactions.
  • Complimentary insurance covers.
  • Up to 55 days interest-free on retail purchases.
  • Anti-fraud security features.
  • 24/7 personal concierge service available 24/7.
  • Access to Citi instalment plans
  • Compatible with Apple Pay and Samsung Pay, and the Citi Mobile® App for personal account access.

What’s not so great…

Sadly, all good things come to an end, and it’s the same for interest on this card. Once the promotional interest-free period ends, you’ll be treated to an interest rate of 21.49% for retail purchases, and a very hefty cash advance rate of 22.24% on any remaining balance transfer.

While that’s standard practice for credit cards, it does highlight how important it is to use the interest-free time wisely. You can be a super-savvy credit card legend if you have a smart budget in place that pays your debt off completely before the promo period ends. Then just keep using all the best parts of the card: earning points and freebies.

While the card comes with 55 days interest free (after the promo period is finished), they won’t apply if you have money owing on your balance transfer. Another reminder to pay 👏 debt 👏 off 👏 quickly.

The PDS states that this card has a cap on points. You’ll earn “1 Point per $1 on eligible Domestic Spend up to $10,000 per Statement Period”. Points you earn on spending overseas are uncapped.

Earning points on the Citi Rewards Card

Citi is pretty generous with its points. You can transfer Citi rewards Points to frequent flyer programs, Flybuys and redeem them within its own rewards store.

  • Earn 1 Citi rewards Point per $1 on all eligible transactions made overseas or online with a merchant that is based overseas
  • Earn 1 Citi rewards Point per $1 on all eligible transactions in Australia (up to $10,000 per statement period)
  • Earn 1 Citi rewards Point per $1 on all eligible transactions using Citi PayAll

Here’s how you can use your points.

  • Pay with Points: Use your points to pay for eligible purchases and receive a credit back.
  • Shop with Points: You can use your points to pay when shopping at Kogan.
  • Travel: Access the Citi Travel Portal to use your points to book flights, hotels, car hire, activities or even create your own itinerary.
  • Points Transfer: Choose to transfer your Citi reward Points to partner programs, including Velocity Frequent Flyer, Emirates Skywards, Singapore Airlines KrisFlyer, Flybuys and more.

The Citi Rewards Card also comes with complimentary insurance which include the following:

  • Complimentary Mobile Phone Insurance. Monthly cover on eligible mobile phones for accidental damage or theft when you use your card to pay your monthly mobile plan bill.
  • Complimentary International Travel Insurance up to 6 months
  • Complimentary Purchase Cover Insurance and Extended Warranty Insurance

Overall Rating

The Citi Rewards Card - Purchases and Balance Transfer Offer is a handy card if you want the rare combination of interest-free periods and to be able to earn rewards points at the same time.

There aren’t too many cards with that combo of offers in one place. It’s a card that shines for anyone wanting to get ahead of some debt (especially since Citi allows you to rollover debt from personal loans) and keep the costs to a minimum.

User reviews

Citi Rewards Card – Purchases and Balance Transfer Offer ( based on 6 Creditcard.com.au user reviews )

68% rating based on 6 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 21.49% p.a.

Introductory purchase rate 0% p.a. for 12 months

Cash advance rate 22.24% p.a.

Interest free period on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 12 months

Balance transfer revert rate 22.24% p.a.

Balance transfer from personal loan Yes

Balance transfer fee 0% one off

Balance transfer limit 80% of approved credit limit

Brands you can't balance transfer from Citi

Credit limits

Minimum credit limit $2,000

Maximum credit limit $100,000

Fees & repayments

Annual fee $199 p.a.

Additional cardholder fee Up to 4 - $90 p.a.

Foreign transaction fee 3.4%

Minimum repayment 2% or $30 whichever is greater

Cash advance fee 3.5% or $3.50, whichever is greater (Domestic); $5 (International)

Late payment fee $30

Rewards and points

Rewards program

Rewards Program Citi Rewards Program Citi Rewards Program

Bonus points N/A

Annual points cap uncapped

Bonus points spend criteria N/A

Earning points with this card

Citi Rewards points 1 point per $1 spent

Points cap per month Capped at $10,000 (domestic spend)

Overseas earn rate same as standard earn rate

Additional features

Complimentary insurance

International Travel Insurance Yes - up to 3 months

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance Yes

Purchase Protection Insurance Yes

Extended Warranty Insurance Yes

Rental Vehicle Excess In Australia Insurance Yes

Extras

Guaranteed Pricing Scheme

Eligible with Apple Pay and Samsung Pay

Overview

Citi Rewards Card – Purchases and Balance Transfer Offer

Key features

  • 0% p.a. on balance transfers for 12 months, no balance transfer fee applies. Reverts to cash advance rate
  • 0% p.a. on purchases for 12 months. Reverts to variable retail purchase rate, currently 21.49% p.a.
  • Earn 1 Citi reward Point per $1 spend on eligible Domestic Spend (up to $10,000 per statement period) and a separate 1 point on international spend
  • Earn 1 Citi reward Point per $1 spend also on expenses including rent, taxes, education, property management fees, and childcare with Citi PayAll Spend
  • Enjoy 10% discount (up to $250) Limited Time Lux Exclusive hotel offers. Offer available until 1 March 2025.
  • Up to 55 days interest-free on retail purchases
  • Enjoy monthly cashback offers from your favourite stores with My Cashback
  • Complimentary mobile phone insurance
  • Complimentary retail and travel insurance covers

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Australian resident

  • You have your personal details ready to complete the online application

Pauline

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger

Recently Asked Questions

Something you need to know about this card? Ask our credit card expert a question.

74 questions (showing the latest 10 Q&As)

Claire katzikis

Claire katzikis

26 February 2024
Hi, I was halfway through my application and the site went down. Is there a way to recover my application m?
    Pauline - CreditCard.com.au

    Pauline

    1 March 2024
    Hi Claire, you'll have to reach out to Citi directly to see if they have any record of your application. Hope they can sort you out!
CHantel

CHantel

6 December 2023
Do you do 0% balance transfer credit card on Bay Now Pay Later services
sandy

sandy

9 May 2023
Is there a way to determine what credit limit I can apply for ?
    Pauline - CreditCard.com.au

    Pauline

    10 May 2023
    Hi Sandy, that's a good question! Unfortunately, there’s none. The credit limit is determined by various factors such as your annual income, credit file, repayment capability, and many more that the credit providers keep close to their chest.. Looking specifically at the Citi Rewards Purchase and Balance Transfer card, the minimum limit you could be approved for is $2000, while the maximum limit is $100,000.
jozmaye

jozmaye

24 February 2023
I never own a credit card before and always debit card but would like the idea of collecting rewards from making purchases. does 0% on purchases for 14 months only apply to those who need to use a balance transfer? if I apply for a credit card in march 2023 and start making purchases does it mean I get charged 0% interest until May 2024 if I may be late in paying off my balance? Thank you
    Pauline - CreditCard.com.au

    Pauline

    27 February 2023
    Hi Jozmaye, that’s a great question! With the Citi Rewards card currently they’re offering both purchases and balance transfers at 0% p.a. for 14 months. The balance transfer offer only is applicable if you’re transferring a balance from another card account. As for purchases, you have a total of 14 months from card approval to enjoy the 0% p.a. offer. Please note though that you need to pay at least the minimum amount on or before the due date each month to enjoy this feature and any balance left owing after the promotional period ends will revert to the 21.49% p.a. We’ve written an article that you might want to check for some tips we share with first time credit cardholders.
Sush

Sush

22 February 2023
what is the difference between 0% p.a on purchases and up to 55 days interest-free on retail purchase?
    Pauline - CreditCard.com.au

    Pauline

    23 February 2023
    Hi Sush, what a great question! A 0% p.a. purchase offer means you will not pay interest on purchases made for a limited time or introductory period (usually 3-12 months, or longer). After the promo period ends, any unpaid balance will be charged interest at the standard rate. Interest free days on the other hand, are offered as a standard feature on most cards and you can enjoy it throughout the life of your card. A statement cycle is around 30 days so with a credit card that has a 55-day interest-free period, depending on what day of the cycle you make your purchase, you’ll have additional days to pay your purchases without being charged interest. You can head on to our Interest-Free Days Credit Cards guide page to learn more about interest free days vs. interest free intro offers. Hope this helps!
Scott

Scott

19 February 2023
Hi there, What is the fortnightly, Repayments On a balance transfer credit card
    Pauline - CreditCard.com.au

    Pauline

    20 February 2023
    Hi Scott, repayments are charged monthly, so you’ll see the repayment amount on your statement each month. Citi’s minimum repayment is either $30 or 2% of the balance, whichever is greater. It varies between credit card providers, so you can check the PDS or the company’s balance transfer terms booklet to see what the minimum repayment will be. Thanks Scott!
Cameron

Cameron

16 January 2023
Hi Pauline, I'm wondering if there are any cancellation fees on this card? I notice there are no sign up fees. If I was to obtain one of these cards, hold it for emergencies for 6 months, then cancel the account, would I pay any fees (assuming I make no purchases etc)?
    Pauline - CreditCard.com.au

    Pauline

    17 January 2023
    Hi Cameron, you can terminate your card at any point without incurring any fees by contacting Citi directly. However, if there is still a balance remaining on the account, it is important to ensure that payments are made on time until the balance is fully paid off.
Bao

Bao

15 December 2022
Why am I charged interest on retail purchases despite making the payment in advance?
    Pauline - CreditCard.com.au

    Pauline

    16 December 2022
    Hi Bao, you’ve actually landed on Creditcard.com.au. You can reach Citi directly at 13 24 84.
Tanya Bailey

Tanya Bailey

9 December 2022
does the 14 months interest free purchases still apply with balance transfers? It's says no "interest free" so not sure what that actually relates to.
    Pauline - CreditCard.com.au

    Pauline

    12 December 2022
    Hi Tanya, good question and I can totally understand! Because this card has the dual offer it does sometimes get confusing. So, the line “there are no interest-free days on purchases until the balance transfer has been paid off” actually refers to the 55 days interest free period which is different from the promotional offer of 0% p.a. on purchases for 14 months. There’s some nuances to interest free days, so we wrote an article on how interest free days work that you can check for further explanation.
Paul

Paul

28 November 2022
Heaps of thanks for your answers, Pauline! Clear now on the 14 months stuff. As for secondary Cardholder wanting Travel Insurance, is there a product that covers this need? I'm the spouse, planning to travel in 2023, but my wife is applying for a BT to clear some debt? Many Thx, P
    Pauline - CreditCard.com.au

    Pauline

    29 November 2022
    Hi again Paul! Glad we could help you out. Unfortunately with complimentary insurances, the cover is primary cardholder, and the spouse only becomes eligible if they are travelling with the primary card holder. You might need to compare and get quotes from a third party travel insurance provider. Have a great trip!
Paul F

Paul F

27 November 2022
Hi..."Interest free days won’t apply for retail purchases if you have a balance transfer", So I don't understand..If I transfer $16,000 from 2 other cards, and slowly pay off over 14 months, can U also purchase $4000 in trip expenses and pay it off slowly too, both @0% interest? Also, if the card's in my wife's name, can I be making the travel purchases using additional cardholder status - and still get complimentary insurances?
    Pauline - CreditCard.com.au

    Pauline

    28 November 2022
    Hi Paul, interesting question! The ïnterest free days on the line ”Interest free days won’t apply for retail purchases if you have a balance transfer” actually refers to the 55 days interest free period that kicks in once the 0% p.a. on purchases offer ends. So, with the current offer of 0% p.a. on purchases and balance transfers for 14 months, you can make purchases and have a balance transfer at the same time and pay the balance off for 14 months. To enjoy this though, you need to pay at least the minimum amount on or before the due date indicated on your statement each month. Once the promotional period ends, you will need to pay the full amount on or before the due date to avoid the purchase interest rates. As the additional cardholder, yes you may use your card to make purchases during your trip. However, with insurance coverage, only the primary cardholder may be eligible. It’s best to check Citi’s official complimentary insurance PDF for more information. Hope that helps!
Jess

Jess

3 October 2022
I was just wondering the 14 months interest free on purchases, is this on all purchases?
    Pauline - CreditCard.com.au

    Pauline

    5 October 2022
    Hi Jess, great question! The Citi Rewards card’s terms and conditions and it states that the current promo of 0% p.a. is applicable to retail purchases. Retail purchases refer to items paid for using a credit card through a retail channel. An example is paying for your coffee at your favorite coffee shop, groceries, car’s petrol, etc. Depending on the credit limit, some customers use this feature to make bigger retail purchases. Hope this has helped!
cherie

cherie

28 September 2022
Hi what is balance transfer mean?
Abu

Abu

15 September 2022
How does the complimentary travel insurance work
    Pauline - CreditCard.com.au

    Pauline

    15 September 2022
    Hi Abu, with the Citi Rewards Purchase and Balance Transfer offer, you may be covered with the complimentary travel insurance by purchasing your flights using your card. Please note that you also need to meet the other eligibility requirements for coverage. You can check out our guide to find out how complimentary insurance and credit cards work.

Featured Credit Cards

Help us improve

By submitting this feedback you agree to our privacy policy.

My credit card is not listed

By submitting this form you agree to our privacy policy.