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Complete Guide to the Citi Rewards Program
Smart Money

Complete Guide to the Citi Rewards Program

Last updated

Citi provides cardholders the opportunity to earn rewards through its Citi Rewards Card. Flexible in terms of its redemption options, it offers rewards in the form of gift cards and travel bookings, alongside the ability to shop with points at Kogan, pay down eligible purchases on the card, or transfer to rewards partners.

Editor’s note: All rates, fees and offers correct at the time of publication as of 5th October 2021

  💳   Earning

  • On the Citi Rewards Card, you will earn:
    • 1 Citi reward Point per $1 on international spending, uncapped
    • 1 Citi reward Point per $1 on domestic spending, capped at $10,000 per statement period
    • 2 Citi reward Points per $1 on linked Diners Card spending, uncapped

    There is a $49 annual fee in the first year, which reverts to $149. You will receive 90,000 bonus Citi reward Points plus a $100 Coles eGift card when you spend $3,000 in the first 90 days. Extras include travel and purchase covers, a personal concierge, and free wine via the Citibank Dining Program.

  🛒   Redeeming

Redeeming points on the Citi Rewards program, you can:

  • Use points to pay down purchases, where 2,500 points equal $10.
  • Buy gift cards, where 10,500 points equal $50 gift card value.
  • Shop with Points at Kogan (value not provided).
  • Book flights, hotels, car hire and activities via the Citi Travel Portal. Points plus pay available.
  • Transfer your points to partner loyalty programs, which include:
    • Emirates Skywards 3:1 (where 3,000 Citi reward Points equal 1,000 Skywards Miles)
    • Singapore Airlines KrisFlyer 3:1
    • Velocity 2.5:1
    • Flybuys 1.33:1

  💰   Value

Let’s check out the value on offer here.

Citi Rewards Card (1 point per $1, capped at $10,000 per statement on domestic spending, $49 annual fee in the first year, then $149, insurances, concierge, free wine, bonus points).

  • On a monthly spend of $5,000 domestic, you would earn 5,000 points each month, or 60,000 points per year, equal to $240 in cashback value, or $285 in gift card value.

    Factoring in the bonus points on offer, you would earn 150,000 points in the first year, equal to $600 in cashback value, or $714 in gift card value PLUS a $100 Coles eGift card.
  • On a monthly spend of $10,000 domestic, you would earn 10,000 points each month, or 120,000 points per year, equal to $480 in cashback value, or $570 in gift card value.

    Factoring in the bonus points on offer, you would earn 210,000 points in the first year, equal to $840 in cashback value, or $1,000 in gift card value PLUS a $100 Coles eGift card.

  ⚖️   Verdict

While a bigger spend is required to see value from this program, you could increase your potential earn by making use of your linked Diners Card. The rewards on offer are pretty flexible, with some handy partners on board. What is likely to sell this card, however, is its bonus offer and its extras.
 

Photo source: Getty Images
Founder - Roland B Bleyer

Roland Bleyer

Founder of Creditcard.com.au. Roland has extensive knowledge about credit cards in Australia. Known as a credit card expert, he has been featured on tv and in various publications. Some popular offers on our site right now include the ANZ Low Rate. This special offer has no annual fee first year, a low purchase rate and long 0% balance transfer. Have a look also at the huge 0% for 30 months balance transfer from Citi with no balance transfer fees.

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