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80,000 Spend $5,000 in the first 90 days
Citi Rewards Credit Card – Velocity Points Offer
Citi Rewards Credit Card – Velocity Points Offer

Citi Credit Cards

Citi Rewards Credit Card – Velocity Points Offer

Updated 6 November 2024

Receive 80,000 bonus Velocity Points for a Citi Rewards Credit Card when you apply, get approved, and spend $5,000 on eligible purchases within 90 days from approval. Enjoy 0% p.a. for 6 months on balance transfers with no balance transfer fee. Plus, get complimentary insurance covers, premium rewards, and perks.

Terms and conditions apply.

Points Earn Rate (per $1 spent)

1 point

Capped at $10,000 (domestic spend)

Rewards Program

Citi Rewards Program

Bonus Points

80,000 pts

Spend $5,000 in the first 90 days

Pros and cons

  • Get 80,000 bonus Velocity Points when you spend $5,000 on eligible purchases within 90 days from approval.
  • 0% balance transfer offer for 6 months with no balance transfer fee. Reverts to Cash Advance rate.
  • Earn 1 point per $1 spend on eligible Domestic Spend (up to $10,000 per statement period)
  • Convert 2.5 Citi reward Points to 1 Velocity Point
  • Up to 44 days interest-free on retail purchases
  • Enjoy monthly cashback offers from your favourite stores with My Cashback
  • Enjoy 10% off or up to $250 Limited Time Lux Exclusive hotel offers. Offer available until 1 March 2025.
  • Complimentary insurance covers
  • Compatible with Apple Pay, Google Pay & Samsung Pay
  • Offers more points potential on bills through Citi PayAll
  • Break up purchases into smaller repayments with instalment plans

  • High purchase rate of 21.49% p.a.
  • Additional card holder fee of $90
  • Points cap on eligible Domestic Spend – up to $10,000 per statement period
  • No interest-free days on purchases when you have a balance transfer

Creditcard.com.au review

Editor Review

Citi Rewards Credit Card – Velocity Points Offer

Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. about this card.

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The Citi Rewards Credit Card Review - Velocity Points offer

Apply and get approved for the Citi Rewards Credit Card and you could take advantage of this awesome two-part introductory offer - receive 80,000 bonus Velocity Points plus a 0% p.a. on balance transfers for 6 months with no balance transfer fee. Ongoing, you will also earn rewards through the flexible Citi Rewards Program while accessing the card’s wide range of perks.

❗ 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. 2.5 Citi reward Points = 1 Velocity Point for Citi Rewards cards.

What we love...

Time to get into that offer.

As a new cardholder, you can get your hands on 80,000 bonus Velocity Points – all you need to do is spend $5,000 on eligible purchases within 90 days of card approval.

As an example, you could fly Economy from Melbourne to Sydney for 15,200 points. There are, of course, many other redemption options, with varying values on offer. It’s up to you to choose how to redeem your points in order to get the best value for you.

Point calculations are accurate as of 6 November 2024 but may be subject to change without notice. All routes may have additional taxes and charges. Check the official Citi page for the updated calculations.

Citi Rewards Card also offers 0% p.a. on balance transfers for 6 months with no balance transfer fee. This allows you to transfer up to 80% of your approved credit limit, allowing you some breathing room when it comes to credit card spending and interest. Keep in mind that as with any balance transfer offer, there are no interest-free days on purchases until the balance transfer has been paid off.

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

What’s not so great...

Before you apply, think about what you will pay out on the card to take advantage of its offer – and its various features. Make sure you can afford to spend $5,000 on the card within the first three months, to then pay back your spending before it attracts interest. Also, think about whether the standard annual fee offers value for your spending ongoing.

If you tend to carry a balance, you may find this card – or really, any rewards card – isn’t for you. With its significant purchase rate and cash advance rate, carrying a balance on this card will mean you pay out more in interest, reducing the value of any rewards or features on offer.

Why should you choose this card?

If you’re looking for a rewards card that earns points on a flexible rewards program, the Citi Rewards Credit Card may just be for you.

  • 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
  • Citi rewards Points can be transferred to Velocity at a rate of 2.5 points to 1 Velocity Point

And options to redeem the points you earn?

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

Let’s take a quick look at the various extras on offer.

  • Compatibility with Apple Pay, Google Pay and Samsung Pay
  • 24/7 support offering round-the-clock customer service and fraud protection
  • Complimentary insurance covers including International Travel Insurance up to 6 months, Transit Accident Insurance, Purchase Cover Insurance, Extended Warranty Insurance and Guaranteed Pricing Scheme
  • Personal concierge service available 24/7
  • 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.

Overall Rating

The Citi Rewards Credit Card is a seriously rewarding rewards card, offering access not just to the Citi Rewards Program, but to a number of excellent extras, including overseas travel insurance. On top of all that, you can benefit from 80,000 bonus Velocity Points if you meet the minimum spend within 3 months from card approval.

User reviews

Citi Rewards Credit Card – Velocity Points Offer ( based on 3 Creditcard.com.au user reviews )

43% rating based on 3 reviews

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 44 days

Balance transfer

Balance transfer rate 0% p.a. for 6 months

Balance transfer revert rate 22.24% p.a.

Balance transfer from personal loan Yes

Balance transfer fee No fee

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 80,000 points

Annual points cap uncapped

Bonus points spend criteria Spend $5,000 in the first 90 days

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

Travel insurance underwritten by Allianz Global Assistance

Overview

Citi Rewards Credit Card – Velocity Points Offer

In addition to 80,000 bonus Velocity Points, this card offers great earning potential with 1 point for each dollar on eligible domestic spend (up to $10,000 per statement period) and eligible international spend (uncapped). Points can be redeemed for a wide range of items, including merchandise, travel, and entertainment. If Velocity Points are all that you’re after, you can opt to transfer 2.5 Citi reward Points for 1 Velocity Point. When choosing the Citi Rewards card, you will also benefit from complimentary insurance covers and up to 44 days interest-free on purchases.

Key features

  • Get 80,000 bonus Velocity Points when you spend $5,000 on eligible purchases within 90 days from approval.
  • 0% balance transfer offer for 6 months with no balance transfer fee. Reverts to Cash Advance rate.
  • Balance transfer personal loan as well as credit cards and/or store cards
  • Earn 1 point per $1 spend on eligible Domestic Spend (up to $10,000 per statement period)
  • Enjoy monthly cashback offers from your favourite stores with My Cashback
  • Enjoy 10% off or up to $250 Limited Time Lux Exclusive hotel offers. Offer available until 1 March 2025.
  • Complimentary International Travel Insurance, Transit Accident Insurance, Purchase Cover Insurance, Extended Warranty Insurance and Guaranteed Pricing Scheme
  • Citi Instalment Plans
  • Compatible with Apple Pay, Google Pay & Samsung Pay
  • Transfer Citi reward Points to Airline and Other Loyalty Programs

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 9 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.

28 questions (showing the latest 10 Q&As)

Dianne farrugia

Dianne farrugia

30 September 2024
How to apply for citi card
Anh

Anh

24 September 2024
Hi, are we able to set the credit limit on a credit card (Citi Rewards Credit Card – Velocity Points Offer), so it won't affect our borrowing limit for a loan?
    Pauline - CreditCard.com.au

    Pauline

    25 September 2024
    Hi Anh, the bank sets your credit limit based on several factors, including your ability to pay, credit score, and other financial considerations. But, usually you’ll be asked what credit limit you want when you apply, and you can often request a lower credit limit after you’re approved (as long as it’s not lower than the card’s minimum credit limit). Thanks!
Adrian Guerin

Adrian Guerin

22 May 2023
I’m looking for a card to use when on holidays that I can earn flybuys points to use with Virgin Airlines
    Pauline - CreditCard.com.au

    Pauline

    23 May 2023
    Hi Adrian, there’s just a number of credit cards that lets you earn flybuys points. You can check out a range of Coles credit cards that directly earn flybuys points. You can also transfer rewards points from Citi credit cards and NAB Rewards points into flybuys points too. If you’ll be using these cards while travelling, it might be worth looking at cards that feature no foreign transaction fees too. You’ll be able to read our reviews of each card to see what the rates, fees and features are to help you make an informed decision. Hope this has helped!
kelvin manton

kelvin manton

6 May 2023
i want to apply for a credit card and i'm a permanent citizen from australia but don't know how to go about it
    Pauline - CreditCard.com.au

    Pauline

    8 May 2023
    Hi Kelvin, your first time applying for a credit card can be a bit overwhelming. There are a lot of credit cards to choose from and it all comes down to what you're after in a card. Whether you're keen on earning rewards, planning travel adventures, or just want to up your shopping game, there's a card for almost every need. We've got a few handy tips written up that you can look at before applying. Make sure you understand the application requirements and read the T&C’s before applying. If you have any other questions we’re happy to help.
Gemma

Gemma

18 February 2023
Hi there, Do you have a link to apply for this card? https://www.creditcard.com.au/creditcard/citi-rewards-credit-card-velocity-points-offer/
    Pauline - CreditCard.com.au

    Pauline

    20 February 2023
    Hi Gemma, currently we don’t have a partnership to the Citi Rewards Velocity Offer card but you can view the other Citi or Velocity credit cards available for options.
Alistair

Alistair

26 January 2023
balance transfer
    Pauline - CreditCard.com.au

    Pauline

    27 January 2023
    Hi Alistair, this Citi card doesn’t feature a balance transfer offer, but you if you could give me more information, I’d be happy to assist you.
Nicholas Ho

Nicholas Ho

23 December 2022
Hi, I'm an international worker in Australia, can I apply for the Citi Rewards Credit Card?
    Pauline - CreditCard.com.au

    Pauline

    23 December 2022
    Hi Nicholas, unfortunately in order to apply for the Citi Rewards Velocity card you must be a permanent Australian resident. Depending on what type of visa you have you could consider comparing some of the credit cards for temporary residents.
raj

raj

8 December 2022
does this card covers price protection? for example: if i buy a product for 100$ and it price reduced by 10$ in first 3 months and is 90$, the card provides price protection and gives back 10$ provided i have receipts of purchase.
    Pauline - CreditCard.com.au

    Pauline

    12 December 2022
    Hi Raj, this card has this feature that is valid for sixty days after the purchase. You must have all the receipts and use the card for the purchase.
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