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60,000 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 12 April 2022

Receive 60,000 bonus Velocity Points when you apply for a Citi Rewards Credit Card by 29 June 2022 and spend $3,000 on eligible purchases within 90 days from approval. Enjoy $0 annual fee in the first year ($149 thereafter), 0% p.a. for 15 months on balance transfers plus, complimentary insurance covers.

T&Cs apply. Offer ends 29 June 2022

Points Earn Rate (per $1 spent)

1 point

Capped at $10,000 (domestic spend)

Rewards Program

Citi Rewards Program

Bonus Points

60,000 pts

Spend $3,000 in the first 90 days

Pros and cons

  • Get 60,000 bonus Velocity Points when you spend $3,000 on eligible purchases within 90 days from approval
  • $0 annual fee first year; $149 p.a. thereafter
  • 0% balance transfer offer for 15 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 55 days interest-free on retail purchases
  • Get cashback on Deliveroo orders - $10 cashback each month when you spend $25 or more in one transaction. Offer available until 30 June 2022.
  • Complimentary insurance covers
  • Compatible with Apple 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 8 years in money, budgeting and property reporting under her belt. about this card.

The Citi Rewards Credit Card Review - Velocity Points offer

Apply for the Citi Rewards Credit Card before 29 June 2022, and you could take advantage of this awesome two-part introductory offer - receive 60,000 bonus Velocity Points plus, a $0 annual fee for the first year. Ongoing, you will also earn rewards through the flexible Citi Rewards Program while accessing the card’s wide range of perks.

What we love...

Time to get into that offer.

As a new cardholder, you can get your hands on 60,000 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 54,600 points you could fly from Melbourne to Sydney in Economy 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. Point calculations are accurate but may be subject to change without notice. All routes may have additional taxes and charges.

The annual fee offer. You will pay $0 annual fee for the first year, saving you $149. This 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.

Citi Rewards Card also offers 0% p.a. on balance transfers for 15 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.

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 and fraud protection
  • Complimentary insurance covers including International Travel Insurance, Transit Accident Insurance, Purchase Cover Insurance, Extended Warranty Insurance and Guaranteed Pricing Scheme
  • 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 60,000 bonus Velocity Points (minimum spend, T&Cs apply) and $0 annual fee in the first year.

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

Brands 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 $149 p.a.

Additional cardholder 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 $0

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 60,000 points

Annual points cap uncapped

Bonus points spend criteria 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

Guaranteed Pricing Scheme

Overview

Citi Rewards Credit Card – Velocity Points Offer

In addition to 60,000 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

  • Get 60,000 bonus Velocity Points when you spend $3,000 on eligible purchases within 90 days from approval
  • $0 annual fee first year; $149 p.a. thereafter
  • 0% balance transfer offer for 15 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)
  • Get cashback on Deliveroo orders - $10 cashback each month when you spend $25 or more in one transaction. Offer available until 30 June 2022.
  • Complimentary International Travel Insurance, Transit Accident Insurance, Purchase Cover Insurance, Extended Warranty Insurance and Guaranteed Pricing Scheme
  • Citi Instalment Plans
  • Compatible with Apple 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

  • Minimum income of $35,000 p.a.

  • 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 a our credit card expert a question.

11 questions (showing the latest 10 Q&As)

Juasi

Juasi

3 May 2022
Does the citi rewards program have an annual fee...not the card, the rewards program.
    Pauline - CreditCard.com.au

    Pauline

    5 May 2022
    Hi Juasi, the Citi Rewards Velocity Points Offer credit card already comes with a complimentary Citi Rewards membership - thus there’s no annual fee for enrollment in the rewards program.
Angel Jones

Angel Jones

1 May 2022
Hi there, i would like some advice on what credit card is best to go for low fees and gaining qantas points with a mid range income of $65K
    Pauline - CreditCard.com.au

    Pauline

    3 May 2022
    Hi Angel, Although we can’t recommend one card over another, you can use our comparison tools to view a range of Qantas frequent flyer credit cards that we have access to and then you can sort them by annual fee to see the lowest. You can then click “Save card” to the ones you like, and then click the heart symbol at the top of the page to compare them side by side.
Azeem

Azeem

18 March 2022
Hi, Does this card have free airport lounge access ? Thanks
Coll

Coll

13 March 2022
If for example I spend $3000 in the 1st month, does the capped 10,000 points per statement period apply so in effect the most points I'd get is less than the bonus promotion?
    Pauline - CreditCard.com.au

    Pauline

    14 March 2022
    Hi Coll, so in your example your regular points earning would be capped, but you’d still get the 60,000 extra points. If you staggered your spend you could maximise your points earning capability.
Ghassan Jarrouge

Ghassan Jarrouge

4 February 2022
Hi Pauline I got Citi rewards platinum credit card before end of January 2022 ,and just need your confirmation please that I still get the 80,000+70,000 velocity points as offered on your website!!
    Pauline - CreditCard.com.au

    Pauline

    8 February 2022
    Hi Ghassan, if you have applied and are approved by 31st January 2022, you may be eligible for the bonus points. However it’s best to wait for the bank’s approval to see the offer included. You can also try calling them on 13 24 84 to find out the status of your application.
sudhir

sudhir

28 January 2022
Hi, I just received me new Citi rewards card. Is there a way to link it to my Virgin Velocity memership?
    Pauline - CreditCard.com.au

    Pauline

    1 February 2022
    Hi Sudhir, It’d be best to reach out directly to Citi to link up your accounts. You can call them on 13 24 84
Prue Mahon

Prue Mahon

28 June 2021
1. How long from successful application to delivery of the card? 2. I am away from my usual Sydney residence for the duration of the winter. Can I colllect the card from a Citibank branch in Cairns, Qld? 3. Can I do the appln and supply documention to a Citibank in Cairns as I don't have access to a printer or scanner up here?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    29 June 2021
    Hi Prue, thanks for your message. Unfortunately Citi has no branches in Far North Queensland. There’s usually a 14 day turnaround, but undocumented, and you may be able to put in a seperate “postal address” in your application. In answer to question 3, the majority of credit card applications are done entirely online these days and hardcopies of documents may not be needed.
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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