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100,000 (Velocity Points) Spend $3,000 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 21 March 2021

Collect 100,000 bonus Velocity Points when you apply for a Citi Rewards Credit Card and spend $3,000 in the first 90 days from approval. Discounted $99 first year annual fee. Plus, complimentary insurance covers and a 0% balance transfer offer.

T&Cs apply. Offer ends 30 June 2021

Points Earn Rate (per $1 spent)

1 point

Capped at $10,000 (domestic spend)

Rewards Program

Citibank Rewards Program

Bonus Points

100,000 pts

(Velocity Points) Spend $3,000 in the first 90 days

Pros and cons

  • Collect 100,000 bonus Velocity Points when you apply for a Citi Rewards Credit Card by 30 June 2021, then spend $3,000 or more on it within 90 days from approval.
  • Earn 1 point per $1 spend on eligible Domestic Spend (up to $10,000 per statement period)
  • Complimentary insurance covers
  • Free wine through the Citibank Dining Program
  • Reduced annual fee first year of $99. $199 p.a. thereafter
  • 0% balance transfer offer for 15 months with no balance transfer fee. Reverts to Cash Advance rate. Please note, no interest free days apply to retail purchases while you have a balance transfer
  • Balance transfer personal loan as well as credit cards and/or store cards

  • 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

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

The Citi Rewards Credit Card Review - Velocity Points offer

Apply for the Citi Rewards Credit Card before 30 June 2021, and you could take advantage of this awesome two-part introductory offer, giving you 100,000 bonus Velocity Points and a reduced annual fee of $99 for the first year. Ongoing, you will earn rewards through the flexible Citi Rewards Program, while accessing the card’s wide range of perks. Minimum spend of $3,000 within 90 days of card approval applies.

What we love...

Time to get into that offer.

As a new cardholder, you can get your hands on 100,000 bonus Velocity Points – all you need to do is spend $3,000 on eligible purchases within 90 days of card approval.

As an example, for 93,600 points you could fly from Melbourne to Sydney in Economy 12 times (7,800 points per flight). 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.

And then, the annual fee offer. You will pay a $99 annual fee for the first year, saving you $100. While this may not sound quite as exciting as bonus points or a reduced annual fee can be a great find on a rewards card such as this, as it allows you to get more value from the rewards you earn in the first year, while also letting you ‘test drive’ the card’s features at a lower cost.

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 $3,000 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 on 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
  • Earn 2 Citi rewards Points per $1 on all eligible transactions made using the Linked Diners Club Card
  • 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 and Samsung Pay
  • 24/7 support offering round-the-clock customer service, fraud protection and emergency card replacement
  • Complimentary insurance covers including International Travel Insurance, Transit Accident Insurance, Purchase Cover Insurance, Extended Warranty Insurance and Guaranteed Pricing Scheme
  • Free bottle of wine when dining at partner restaurants within the Citibank Dining Program
  • Perks through Mastercard Priceless Cities and Citi World Privileges
  • Personal concierge service available 24/7
  • Access to Citi PayAll payments and Citi instalment plans

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, as a new cardholder, you can benefit from 100,000 bonus Velocity Points and a reduced annual fee of $99 (minimum spend applies).

User reviews

Citi Rewards Credit Card – Velocity Points Offer ( based on 0 Creditcard.com.au user reviews )

0% rating based on 0 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 55 days

Balance transfer

Balance transfer rate 0% p.a. for 15 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

Banks you can't balance transfer from Bank of Queensland, Citi, Coles, Qantas Money, Suncorp, Virgin Money

Credit limits

Minimum credit limit $6,000

Maximum credit limit $100,000

Fees & repayments

Annual fee $199 p.a.

Additional card holder fee Up to 4 - $90 p.a.

Foreign transaction fee 3.4%

Minimum repayment 2% or $30 whichever is greater

Annual fee the first year $99

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 Citibank Rewards Program Citibank Rewards Program

Bonus points 100,000 points

Annual points cap 120,000

Bonus points spend criteria (Velocity Points) Spend $3,000 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

Flight Inconvenience Insurance No

Transit Accident Insurance Yes

Smartphone Screen Insurance No

Purchase Protection Insurance Yes

Extended Warranty Insurance Yes

Rental Vehicle Excess In Australia Insurance No

Extras

Free wine at partner restaurants through the Citibank Dining Program

Compatible with Apple Pay & Samsung Pay

Convert 2.5 Citi reward Points to 1 Velocity Point

Break up purchases into smaller repayments with instalment plans

Complimentary international travel insurance

Offers more points potential on bills through Citi PayAll

Overview

Citi Rewards Credit Card – Velocity Points Offer

In addition to a whopping 100,000 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 insurances and up to 55 days interest free on purchases.

Key features

  • Collect 100,000 bonus Velocity Points when you apply for a Citi Rewards Credit Card by 30 June 2021, then spend $3,000 or more on it within 90 days from approval.
  • Reduced annual fee first year of $99. $199 p.a. thereafter
  • 0% balance transfer offer for 15 months with no balance transfer fee. Reverts to Cash Advance rate. Please note, no interest free days apply to retail purchases while you have a balance transfer
  • Balance transfer personal loan as well as credit cards and/or store cards
  • Complimentary International Travel Insurance, Transit Accident Insurance, Purchase Cover Insurance, Extended Warranty Insurance and Guaranteed Pricing Scheme
  • The Citibank Dining Program offers a free bottle of wine every time you dine at partner restaurants.
  • 1 point per $1 spend on eligible International Spend (uncapped)
  • 1 point per $1 spend on eligible Domestic Spend (up to $10,000 per statement period)

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

  • Minimum income of $35,000 p.a.

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

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

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

4 questions (showing the latest 10 Q&As)

Ben

Ben

14 April 2021
I previously had a citi rewards credit card. Am I eligible for Citi Rewards velocity bonus points?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    15 April 2021
    Hi Ben, Citi doesn't stipulate this in their eligibility criteria, just that it is available for new applications only. However, with most other providers there is a waiting period between account closing and the ability to take advantage of a bonus points offer. For example, with Amex it is 18 months and with ANZ it is 12 months. If you're concerned about your eligibility you can give Citi a call directly on 13 24 84. I hope that helps.
Darren

Darren

13 April 2021
How long doe it take to transfer points to velocity once minimum spend criteria is met?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 April 2021
    Hi Darren, Citi specifies that the points will be credited to your account within 10 weeks of them receiving your Velocity Frequent Flyer membership number.
Jake

Jake

1 April 2021
Is there any criteria for earning the velocity points outside the min spend amount within 3 months?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    6 April 2021
    Hi Jake, apart from the minimum spend of $3,000 on eligible purchases in 90 days there are no other criteria to getting the bonus Velocity Points. Eligible purchases exclude Cash Advances, Balance Transfers, Special Promotions, interest, fees, refunds, Chargebacks and spend on a Linked Diners Club Card.
Alistair Christie

Alistair Christie

6 March 2021
When you say maximum 10000 points for the "statement period" for the citi rewards credit card, does statement period mean per month?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    8 March 2021
    Hi Alistair, effectively yes - statements are issued monthly but since months are inconsistent, they use the term "statement period".
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