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100,000 Spend $8,000 in the first 90 days
Citi Premier Card – Velocity Offer
Citi Premier Card – Velocity Offer

Citi Credit Cards

Citi Premier Card – Velocity Offer

Updated 19 January 2024

The new Citi Premier Card is a Velocity points extravaganza, awarding a huge 100,000 points when you apply by 30 April 2024 and spend $8,000 on eligible purchases within 90 days of approval. After the first 12 months, earn 50% off the annual fee when you spend $48,000 on your card each year, otherwise $300 p.a.

Be rewarded with 2 Citi points per $1 spent online or overseas, or 1 point per $1 elsewhere. Includes Citi Rewards perks, complimentary insurances, Priority Pass lounge membership, and 4 free additional cardholders. T&Cs apply.

Points Earn Rate (per $1 spent)

2 points

Citi

Rewards Program

Citi Rewards Program

Bonus Points

100,000 pts

Spend $8,000 in the first 90 days

Pros and cons

  • Earn 100,000 Velocity points when you spend $8,000 on eligible transactions within 90 days of approval. Offer ends 30 April 2024.
  • Earn 2 Points per $1 spent on eligible transactions made overseas and/or online; 1 Point for all other eligible domestic purchases
  • Earn uncap points through Citi PayAll transactions
  • Discounted annual fee on subsequent years of $150 if you spend $48,000 on eligible purchases or cash advances in the previous year
  • Enjoy 10% off or up to $250 Limited Time Lux Exclusive hotel offers. Offer available until 1 March 2024
  • Up to 55 days interest-free on purchases if you pay off the balance in full by the due date
  • Up to four (4) additional cardholders at no extra cost
  • Two (2) Priority Pass complimentary lounge passes each year
  • Enjoy monthly cashback offers from your favourite stores with My Cashback
  • Complimentary Mobile Phone Insurance, International Travel Insurance, Purchase Cover, and Extended Warranty Insurance. T&Cs apply.
  • Compatible with Apple Pay, Google Pay and Samsung Pay

  • You’ll pay the full $300 annual fee the first year before the 50% discount applies
  • Reward Points are capped at 200,000 in a 12-month period
  • High cash advance and purchase rates, currently 22.24% p.a. and 21.49%, respectively
  • If you switch from Citi Rewards to Citi Qantas, the annual fee is charged at $350
  • Citi Rewards points are capped at 200,000 per year

Creditcard.com.au review

Editor Review

Citi Premier Card – Velocity 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.

Citi Premier Card - Velocity Points Offer Review

Citi’s Premier Velocity credit card hits the bulls-eye if you’re keen to build up your frequent flyer points. You can earn 100,000 Velocity points when you sign up and spend $8,000 on eligible purchases within 90 days of approval.

❗ We've gotten a lot of questions about the points with this card! The bonus offer is paid in Velocity points, but the points you earn on your spending every day are Citi reward points. You can transfer Citi points to Velocity points manually or set up an 'autosweep' feature to do it automatically. 2 Citi reward Points = 1 Velocity Point for Citi Premier cards.

Let’s look at what else the Citi Premier - Velocity card has so you can see if it’s what you’re looking for.

What we love...

I admit it, I’m often impressed by Citi and its offerings. I think the sign-up offers (which often include chunky rewards points or cashback) are some of the best around, and it has the framework in place for a good customer experience with plenty of ways to save money, budget and earn rewards.

The Citi Premier Card - Velocity Points Offer makes you look twice; it comes with excellent benefits, rewards, perks, discounts, free insurances and services, and extra features like Citi instalment plans where you can pay off your balance in a ‘Buy now pay later’ fashion.

An ongoing perk of Citi’s Premier card with the Velocity offer is the discounted annual fee. A 50% discount applies if you spend at least $48,000 on eligible purchases during the year before, bringing the annual fee down to $150. That’s a reasonable annual fee for a premium card.

Let’s look at the rewards.

Citi has its own program earning Citi rewards Points that you can redeem at its online store (a 2,000 point minimum spend applies). You can also convert Citi points to Velocity points, either manually or with the Autosweep function that converts your Rewards Balance on the same date each month.

Earning Citi rewards Points. You’ll earn 1 Citi rewards Point for every dollar you spend on eligible transactions online or overseas, and 1 point per dollar on any other eligible domestic purchase. Non-eligible transactions include cash advances, special promotions, fees, refunds, and balance transfers.

Complimentary insurances. The Citi Premier Card - Velocity Offer comes with complimentary international travel insurance, overseas transit accident insurance, mobile phone insurance, purchase cover insurance, extended warranty insurance and complimentary guaranteed pricing.

Citi Rewards perks. On top of earning points, Citi also offers exclusive deals with partnering businesses.

Priority Pass. You’ll get Priority Pass Standard Membership, which allows the primary cardholder free access to two airport lounges per year.

Other bonuses:

  • Sync your card with Apple Pay and access your account via the Citi Mobile App
  • 24/7 customer service
  • Personal concierge services for round-the-clock help with bookings and travel
Bonuses on bills and rent

Citi PayAll is another feature unique to Citi that allows you to earn points on payments that most rewards programs won’t. You can set up automatic payments through the Citi Mobile App and earn points on rent, taxes, education fees, property management fees, childcare, bills and more. Effective 1 November 2023, the Citi PayAll fee changed to 0.95% of the amount being paid.

This card also comes with 55 days interest-free on purchases.

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

What’s not so great...

The 50% discount on the annual fee is an excellent bonus, but it only comes into play when you’ve spent at least $48,000 on your card in the previous 12 months. So, you’ll pay the full $300 for the first year.

You can earn a maximum of 200,000 Citi Reward points per 12 month period (the 100,000 Velocity points bonus doesn’t count toward the cap).

With 2 points earned per overseas purchase, Citi primarily rewards international spenders and travellers. You might want to check that the card is going to earn the best points for the way you shop.

Why should you choose this card?

The Citi Premier card - Velocity Offer packs a decent punch upfront with 100,000 Velocity points, and then very good ongoing points with Citi Rewards. Since you can spend the points as is or convert them into Velocity points, you can choose whether you want retail or travel perks.

If you like money hacks, you’ll probably be a fan of the Citi Mobile App and its bonus features including Citi PayAll and Citi Instalment Plan that let you pay smarter and earn rewards.

Here are the points earning rates:

  • Earn 2 Points per $1 on all eligible online transactions
  • Earn 2 Points per $1 on all eligible international transactions made overseas or online with a merchant that is based overseas
  • Earn 1 Points per $1 on all eligible domestic transactions
  • Earn 1 Citi rewards Point per $1 on all eligible transactions using Citi PayAll
How to redeem your points:

Citi reward Points can be redeemed for flights, hotels, shopping, dining, and car hire. You can use it to pay for almost anything like appliances, homewares, and other merchandise at partner stores. You also have an option to transfer your Citi reward Points to partner programs including Emirates Skywards, Singapore Airlines KrisFlyer, flybuys, and many more.

Overall Rating

The Citi Premier card - Velocity Offer will fill your rewards tank with 100,000 Velocity points when you sign up by 30 April 2024, and keep delivering with Citi reward Points you can redeem or convert to a variety of other programs.

It comes with a host of free travel bonuses, discounts with partner businesses, insurances including mobile phone coverage, and nifty ways to earn points on boring payments like bills and rent.

The premium annual fee can be discounted when you spend a certain amount each year, making this card and its features pretty attractive for the price.

User reviews

Citi Premier Card – Velocity Offer ( based on 1 Creditcard.com.au user review )

83% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 21.49% p.a.

Cash advance rate 22.24% p.a.

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limit $10,000

Maximum credit limit $100,000

Fees & repayments

Annual fee $300 p.a.

Additional cardholder fee Up to 4 - $0

Foreign transaction fee 3.4%

Minimum repayment 2% or $30 whichever is greater

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

Late payment fee $30

Rewards and points

Rewards program

Rewards Program Citi Rewards Program Citi Rewards Program

Bonus points 100,000 points

Annual points cap 200,000

Bonus points spend criteria Spend $8,000 in the first 90 days

Earning points with this card

Citi Rewards points 2 points per $1 spent

Points cap per month N/A

Overseas earn rate 2 points per $1 spent

Additional features

Complimentary insurance

International Travel Insurance Yes - up to 6 months

Flight Inconvenience Insurance Yes

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance Yes

Extended Warranty Insurance Yes

Rental Vehicle Excess In Australia Insurance Yes

Extras

Guaranteed Pricing Scheme

Fraud protection

Overview

Citi Premier Card – Velocity Offer

Key features

  • 100,000 bonus Velocity points when you spend $8,000 in the first 90 days from approval. Offer ends 30 April 2024.
  • A reduced $150 annual fee in subsequent years if you spend at least $48,000 on eligible purchases or cash advances in the previous year, otherwise $300
  • Up to 4 additional cardholders, no fee
  • Complimentary International Travel Insurance, Transit Accident Insurance, Purchase Cover Insurance, Extended Warranty Insurance and Guaranteed Pricing Scheme
  • Enjoy monthly cashback offers from your favourite stores with My Cashback
  • 2 points per $1 spend on eligible international and online spend
  • 1 point per $1 spend on eligible domestic spend
  • Earn uncap points through Citi PayAll transactions

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.

20 questions (showing the latest 10 Q&As)

Bradley

Bradley

26 January 2023
1. How many velocity points do you get from the Citi points earned. Example: if I earn 10,000 Citi points, how many velocity points is that? 2. Is there an option to automatically transfer these points?
    Pauline - CreditCard.com.au

    Pauline

    27 January 2023
    Hi Bradley, with 10,000 Citi points, that’s equivalent to 5,000 Velocity points where 2 Citi points is equal to 1 Velocity point. If you meet the spend criteria for the bonus points, you’ll pocket 100,000 Velocity points too.
Abz

Abz

5 January 2023
Hi Pauline, I would appreciate if you could explain a bit more what this means "Interest-free days won’t apply for retail purchases if you have a balance transfer". Does this mean, interest is charged immediately as purchase is made?
    Pauline - CreditCard.com.au

    Pauline

    6 January 2023
    Hi Abz, yes you’re correct. Interest will be charged immediately for any purchases made when you have a balance transferred over to your Citi Premier Velocity card.
cate

cate

22 December 2022
Can you earn points on PayPal payments/online payments
    Pauline - CreditCard.com.au

    Pauline

    23 December 2022
    Hi Cate, anything that isn’t considered a “cash transaction” will earn you points and this can also depend on the merchant name too. In our previous reply, you may be able to use Citi PayAll and earn points too. Hope this helps!
cate

cate

22 December 2022
can you earn point when paying tradies and contractors doing an eft transfer?
    Pauline - CreditCard.com.au

    Pauline

    23 December 2022
    Hi Cate, Citi actually has a new feature called Citi PayAll. This is where you can still earn points for transferring money. In theory transferring any money from your credit card to a tradiewould incur the cash advance rate of interest but “Citi PayAll” allows you to at 0% fees between 01 April 2021 to 31 October 2023. Of course, please read the T&C’s on Citi’s website to make sure you understand what’s involved with Citi PayAll.
Cate

Cate

14 December 2022
What would be the best small business credit card deal atm. Wanting to efficient tax accounting. Spending 20k/ mth. Wanting best rewards highest rewards limit to card cost. Are there any cards that have no rewards limit? Don’t think I am interested in American Express
    Pauline - CreditCard.com.au

    Pauline

    16 December 2022
    Hi Cate, there’s a wide range of business credit cards out there. We only have partnerships with a handful, and the best one for you comes down to what you and your business needs out of it and how you’ll use it day to day. Make sure to take note and compare things like the rewards program (e.g. Qantas or Velocity), the number of additional cards you get and whether there are any point caps on your spend.
cate

cate

13 December 2022
with having 4 cards. they are obviously linked to the same account. But can there transaction history be searched individually for each card. I ask this question for accounting purposes.
    Pauline - CreditCard.com.au

    Pauline

    14 December 2022
    Hi Cate, you might want to look into a range of business credit cards. These can plugin to accounting software for transaction lookups and exports.
cate

cate

13 December 2022
what is citi pay all transactions what is the rate of earning points and then transferred to velocity points? what can you purchase with citi points
    Pauline - CreditCard.com.au

    Pauline

    14 December 2022
    Hi Cate! I’ll go through each question. First, Citi PayAll: this lets you earn points on payments you normally wouldn’t, for instance rent, taxes, education fees, childcare, and property management fees. You can earn 1 Citi reward Point or 0.5 Qantas Points per $1 spent through Citi PayAll (depending on which program your card is enrolled with). Earning points: you’ll earn 2 Citi reward Points per $1 spent on eligible transactions. For a Premier card, you can convert 2 Citi points for 1 Velocity point (and remember you’ll get 100,000 bonus Velocity points if you spend $4000 in the first 90 days). And lastly, redeeming points: you can purchase gift cards, spend with Kogan or Apple, transfer to another program such as Flybuys or Velocity, or use your points for Pay with Points, which reimburses a purchase as cashback onto your card. Hope that helped, Cate!
Zac

Zac

5 December 2022
I'm looking to build credit and rack up a large number of points (as everyone else on this site is, I'm sure). However, as a uni student my biggest concern is meeting minimum income requirements. Many of the pages for specific credit cards don't specify a minimum income requirement, while others clearly do. If I am to build good credit, is it still worth applying for these cards with seemingly no specific minimum income? Or is it not worth the risk of being rejected and harming my credit score? Thank you for your insights!
    Pauline - CreditCard.com.au

    Pauline

    6 December 2022
    Hi Zac, unfortunately most of the credit card issuers don’t publish their cards’ income requirements. They only mention that as long as you receive a regular income, are able to provide proof of income, and are at least 18 years old and an Australian resident, you may apply. We did a little digging of our own, and tried to find out the bare minimum income for a wide range of credit cards. Since you mentioned that you are a university student and would like to build credit, you may want to check some of the credit cards for students we have listed. These often have lower income thresholds that may feature adequate credit limits that help credit cardholders like you get used to a credit card while at the same time, helping avoid potential overspending.
Jiaqi chen

Jiaqi chen

9 November 2022
Thanks, So if I applied for citi once for the bonus, can I still go to nab next time to apply for velocity bonus again? Thanks
    Pauline - CreditCard.com.au

    Pauline

    10 November 2022
    Hi Jiaqi, the good news is that rewards programs aren’t directly linked to credit card providers. However, applying for multiple credit products in a short period of time doesn’t look good to providers. They see it as a sign of risk, so keep an eye on your credit report and score during this time. We’ve included it as a credit card sin, along with a few other tips too.
jiaqi

jiaqi

8 November 2022
hi I am looking at citi premier card. How many times we can get velocity points? I haven't applied for one but I am keen to ask how many times I can get the points.
    Pauline - CreditCard.com.au

    Pauline

    9 November 2022
    Hi Jiaqi, short answer: only once for the bonus offer. So, if you’re approved for the Citi Premier Velocity Offer card and have met the spend criteria, you’ll earn the bonus Velocity points. As an everyday points card you’ll earn Citi reward points which you can then convert to Velocity points if you wish.
Josh

Josh

27 October 2022
Hello, The overview notes, 1 point per $1 spend on eligible domestic spend. Is that, 1 Citi Rewards point? If so, are these then converted 2.5 CR:1 VFF: or 1:1? Thanks Josh
    Pauline - CreditCard.com.au

    Pauline

    28 October 2022
    Hi Josh, this Citi Premier card currently offers an introductory bonus Velocity points offer. But for the everyday points earning, you earn 2 Citi Reward Points per $1 spent on eligible transactions made overseas and/or online, then 1 Citi Reward Point for all other eligible domestic purchases. The points conversion of 2.5 Citi Rewards to 1 Velocity still stands. It’s definitely a unique product offering!
Troy Male

Troy Male

26 October 2022
Does this card earn Virgin Velocity points ? Or just citi points ?
    Pauline - CreditCard.com.au

    Pauline

    27 October 2022
    Hi Troy, that’s a good question! This card confused us too, you actually earn Citi reward Points. But the current offer is bonus Velocity Points if you’ve met the spend criteria.
Chris

Chris

18 October 2022
Hi Pauline, I am new to this points system but I am interested in converting to a card to earn points to use for international flights from Aus. My current card does not earn points. Q: Can points be used immediately? Q: Can points be used when making bookings online through Booking.com etc? Q: Are you limited to which airlines you can book flights with? Sorry for all the q's but all help is very much appreciated.
    Pauline - CreditCard.com.au

    Pauline

    19 October 2022
    Hi Chris, no worries and I’d be happy to answer them! Please see below the answers to your questions.
    • As soon as points are added to your account, you can use and redeem them. There can be a lag between earning and them landing in your account.
    • You’ll need to redeem your Velocity Points at velocityfrequentflyer.com.
    • Looking further at Citi Premier Velocity card’s terms, it looks like they have several airline partners you can book with like Virgin Australia, Qatar Airways, Eithad Airways, Air Canada, etc.
    You can find more detailed information in our guide to comparing Velocity Credit Cards, with answers to other questions you might have down the track. Hope that helped!
Julie

Julie

26 September 2022
Hi Pauline, Presently we have a Virgin Velocity credit card, we are looking at moving away from them. Can we transfer all existing points from the Virgin card to the Citi bank card?
    Pauline - CreditCard.com.au

    Pauline

    26 September 2022
    Hi Julie, the good news is that any points you've earned with your Velocity card will stay in your Velocity Frequent Flyer account. As the Citi Premier Card will earn Velocity Points too, those points will all end up in your Velocity Frequent Flyer account too. Hope that has made sense!
phil,

phil,

5 September 2022
how many velocity points are awarded per citi bank points ?
    Pauline - CreditCard.com.au

    Pauline

    7 September 2022
    Hi Phil, this is a direct earn card so you’ll automatically earn Velocity points on your spending. If you already have Citi points and want to transfer them to Velocity, the conversion rate is 2.5 Citi Rewards points to 1 Velocity point.
Dustin Aston-Bryant

Dustin Aston-Bryant

28 August 2022
hi team, just noticing the minimum criteria for earnings is $75k PA. Is this including or excluding super? Thanks
    Pauline - CreditCard.com.au

    Pauline

    29 August 2022
    Hi Dustin, generally speaking this is only your salary and not your salary package with super or benefits.
Jing

Jing

29 October 2021
Hi Roland, if I have a Kogan credit card which seems under Citibank. Can I still get the 90,000 points if I have spent $3000 in 3 mths.
    Pauline - CreditCard.com.au

    Pauline

    1 November 2021
    Hi Jing, great question. You’re right that Kogan credit cards are underwritten by Citi among others. However, when it comes to rewards programs and points, they’re completely different. So if you qualify and meet the eligibility criteria, you could still bank those points. Hope this helps!
Terry

Terry

1 August 2021
For cash repayment, how many dollars can 5000 reward points get?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    2 August 2021
    Hi Terry, we just checked the Citi site, and at the time of replying, 2,500 rewards points is equal to $10 when you choose to Pay with Points. Pay with Points allows you to use rewards points to contribute towards your statement.You can also redeem your points for eVouchers and travel but the “value” of these will vary depending on the shop you choose.
lorence

lorence

20 April 2021
hi if i get a citi credit rewards card and direct debit bills and such will that add to points? and can that accumulate to the 3000 to gain the 90,000 points?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    21 April 2021
    Hi Lorence, direct debit payments are eligible for points they same way regular transactions are. You can find the list of eligible transactions on Citi's website here. I hope that helps.
Christy

Christy

11 March 2021
Do I get points and rewards if I'm using my credit card to pay for business expenses, rent, or utilities? What counts as eligible spending and what's not? Is there a page on creditcard.com.au that has consolidated information on this?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    12 March 2021
    Hi Christy, for Citi Mastercards, eligible transactions exclude, but are not limited to: Cash Advances, Balance Transfers, Special Promotions, BPAY payments, purchases of foreign currency and travellers cheques, transactions made in operating a business, payments to other Citi accounts, bank fees and charges such as interest and ATM charges, transactions made using Points and government related transactions. Government related transactions include transactions with government or semi-government entities, or relating to services provided by or in connection with government (for example but not limited to transactions made at Australia Post, payments to the Australian Taxation Office, council rates, motor registries, tolls, parking stations and meters, fares on public transport, fines and court related costs). Please note that whether or not a transaction is an Eligible Transaction will be determined based on information provided either by the merchant or the relevant financial institution (including information about the type of business conducted by the merchant). This means that, for example, spend with certain merchants may be characterised as spend with a government related entity and therefore not an Eligible Transaction, even if that merchant is not in fact a government related entity. Eligible transactions also exclude any Citi PayAll Payments (for Domestic Spend only, International Spend is excluded) but excludes any transaction that you are not permitted to make under your Account Terms and Conditions.
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