Point Hacks Credit Card Guide

Citi offering 75,000 Citi Rewards points or 50,000 Qantas points with Citi Signature Visa

Citi Signature Visa - 75,000 Citi Rewards points (37,500 KrisFlyer / Velocity points if transferred)

75,000 Citi Rewards Points are on offer with the Citi Signature Visa, convertible to 37,500 Singapore Airlines Krisflyer miles or Virgin Australia Velocity points, with an effective earn rate of 0.75 airline points per $ on spend.

  • 75,000 Citibank Rewards points
  • 0% interest p.a. for 6 months on balance transfers
  • Priority Pass lounge access and some other premium card benefits
  • Ability to earn Citi Rewards points where you can transfer points to Velocity & Krisflyer, or swap the card to Qantas Points down the track
  • 1.5 Citi Rewards points per $1 spent - capped to $20,000 per statement period for domestic spend, uncapped for international spend
  • $199 p.a. annual fee first year, $395 ongoing
  • Offer expires: 30 April 2017
  • Spend on everyday purchases within the first 90 days to receive bonus points

Find out more or apply →

Point Hacks earn a maximum of $160 per applicant for this card. More about this →

Citi are running two offers on the Citi Signature Visa – one for 75,000 Citi Rewards points, equivalent to 37,500 Velocity Points or KrisFlyer Miles if transferred out of Citi Rewards, or 50,000 Qantas Points with the Citi Signature Qantas variant of the card.

The annual fee on both the Citi Rewards and Qantas offers is also reduced to $199 in the first year, with the Qantas-linked card also incurring a $49 Qantas opt-in fee.

Citi Signature Visa – The Basics

When you sign up for the Citi Signature you’re either choosing to do so with Qantas or Citi Rewards (for the purposes of the bonus this can’t be changed, but you can swap rewards options later as a cardholder). We explain this a little later in the guide.

Citi made a number of changes to Signature Visa earlier this year – the effective frequent flyer point earn rate when linked to Citi Rewards is now 0.75 KrisFlyer miles or Velocity points per dollar.

Citi Rewards cardholders also have a points cap of $20,000 of points earned on domestic spend each month, with points earned from international spend uncapped. The points earn rate in either case is 1.5 Citi Rewards points per $ with a 2:1 transfer rate to KrisFlyer or Velocity.

Citi Qantas-linked cardholders have a lower cap of 3,000 Qantas Points per month earning at 1 Qantas Point per dollar, with an earn rate of 0.5 Qantas Points per $ after. International spend is also excluded from this cap.

Using the card for overseas spend incurs a 3.4% fee, and no additional points, but with no points cap either.

It’s worth noting that the Qantas signup bonus is often more valuable than the Citi Rewards bonus (when the advertised bonus points are equal) depending on how you use your points – given you can switch rewards programs for your card down the track, picking the Citi Qantas card and then changing to Citi Rewards later may well be worth considering to get the most value from the points on offer.


Citi Signature Visa - 50,000 Qantas Points plus reduced first year annual fees

50,000 Qantas Points are on offer with the Citi Qantas Signature Visa with reduced annual fees totalling $248 in the first year. Ongoing spend can be credited to Qantas or swapped to transfer to Velocity or Krisflyer via Citi Rewards.

  • 50,000 Qantas Points
  • Ability to earn Qantas or Citi Rewards points (transferrable to Velocity and KrisFlyer) from ongoing spend
  • Two complimentary Priority Pass lounge access per year and some other premium card benefits
  • 1 Qantas point per $ earned on spend capped to $3,000 per statement period, 0.5 Qantas points per $ after capped to $10,000 per statement period, and 1 Qantas point per $ uncapped on international spend
  • 0% interest p.a. for 6 months on Balance Transfers
  • $199 annual fee in the first year (usually $395) plus $49 Qantas opt-in fee
  • Offer expires: 30 April 2017
  • Spend $2,000 in the first 90 days to receive bonus points

Find out more or apply →

Point Hacks earn a maximum of $160 per applicant for this card. More about this →

Card Details

CardCiti Signature Visa
Loyalty programCiti Rewards or Citi Qantas Rewards (+$49)
Citi Rewards earn rate1.5 Citi Rewards points per $1 spent on eligible purchases
Velocity / KrisFlyer effective earn rate 0.75 points/miles per $ when transferred from Citi Rewards at 2:1
Qantas Point earn rate1 Qantas Point per $ spent, earned directly into Qantas Frequent Flyer each month
Points capCiti Rewards points are capped to $20,000 per statement period for Australian spend, uncapped for overseas, OR

Qantas Points are capped up to $3,000 per statement period, 0.5 points per $ after, with international spend uncapped
Earns points at ATONo
Travel benefitsPriority Pass lounge access and two included lounge visits
Annual fee$395, but sometimes offered at $299 for life
Overseas transaction fee3.40% of the converted amount
Minimum income requirement$75,000 p.a.

Effective Frequent Flyer Program Point Earn Rates

Frequent Flyer ProgramPoints earned from spend
Qantas Points*1 point / $
Velocity Points0.75 point / $
Singapore Airlines KrisFlyer Miles0.75 mile / $
Emirates Skyward0.6 mile / $
* Qantas Points are only earned through the Citi Signature Qantas Visa card

Digging into the benefits of the Citi Rewards Signature Visa

With the Citi Signature Visa you’ll earn 1.5 Citi Rewards points, up to $20,000 of spend per month within Australia. The 1.5 Citi Rewards per $ earn rate equates to 0.75 KrisFlyer Mile/Velocity point per dollar.

If you opt-in to Citi Qantas Rewards, it’s instead 1 Qantas point per $ on all spend, up to $3,000 per month, after which it clicks down to 0.5 Qantas Points per $ for domestic spend. There’s a minimum income requirement of $75,000.

If you decide to use the card to earn Citi Rewards points, have a read of the full guide to the Citi Rewards program here.

Citi Rewards transfer partners for the Signature Visa are low in number, but high in quality:

  • Singapore Airlines Krisflyer
  • Virgin Australia Velocity
  • Emirates Skywards
  • and as a standalone option – Qantas Frequent Flyer with monthly direct sweep if opted in to Citi Qantas Rewards

For Citi Signature cardholders, points transfer out to Virgin Australia‘s Velocity and Singapore Airlines Krisflyer programs at 2 Citibank Rewards point to 1 Velocity point (for transfers made after March 18th 2016), so the effective earn rate on the card is 0.75 points per $ for both programs.

There is a minimum transfer requirement of 20,000 Citibank Rewards points, which means you need to be strategic about how you transfer your points to ensure you don’t have any orphaned points in the Citi Rewards program (a balance of under 20,000) which wouldn’t be transferrable to frequent flyer programs.

You can swap the card between Citi Rewards points and Qantas Point earn once per year, so do this only when you need to.

Citi Rewards Bonus Point Partners

Citibank has a wide range of bonus partners – many of which are quite niche. There are a few mainstream retailers though, and it largely depends on where you spend your money as to whether you’ll get the most out of their bonus partner program.

The earn rates for bonus partners are the standard earn rate of 1.5 points + 3 bonus points = 4.5 points per $1 spent.

Bonus points are not available to those who earn points into Qantas Frequent Flyer – the same as for the extra points on international transactions. This is a downside of earning Qantas Points with the card.

Priority Pass Benefit

The card also comes with Priority Pass lounge membership, valued at $99 per year, and two included lounge visits valued at $27 each. In reality, you’ll get better use out of this membership if you travel internationally, as there are only a couple of Priority Pass partner lounges in Australia.

Citibank Signature Priority Pass pack

The way this works in practice is that you’ll receive a promotional pack from Citibank with a Priority Pass access code soon after receiving your card in the mail. The code then lets you sign up for the relevant membership from Priority Pass.

Finally, you’ll also get a range of insurances, including extended warranty, purchase cover and international travel insurance. As per usual, you’ll need to read the PDS and assess if these insurances meet your individual needs and offer you substantial value.

This guide references some of the benefits of insurance policies provided with this credit card.

You should read the PDS and obtain independent professional advice before obtaining this product.

Summing up – the Citi Signature Visa

The Citi Signature Visa remains worth considering for high volumes of points earn outside of Qantas Frequent Flyer on a Visa or MasterCard, however the annual fee is higher than many others on the market, so you’ll need to be using the card a lot to make the the fee worthwhile.

The flexibility of points transfer to Velocity or KrisFlyer is really useful, as well as the possibility of swapping the card (infrequently) between Qantas or Citi Rewards point earn – but the day to day earn rate of 0.75 points per dollar is not so competitive.

The bonuses at retail partners for Citi Rewards earn can be lucrative if that matches your spend patterns too.

Jump back up to offer ↑

Point Hacks Credit Card Information

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We have not taken into consideration your circumstances or financial situation when providing the information on this website. It is important you read the relevant PDS from the product issuer and seek the independent advice of an appropriately qualified professional before making a decision on a product.

Comments Expand Comments

  1. Nelson

    Hi Keith,
    Still reading your Citibank card guide 🙂 so thanks!

    Just to let you know, I just received an email from Qantas, sign up to Commonwealth Bank Awards Card and get 40,000 QF points, and 50% off the annual fee for the first year.

    First Citibank, then ANZ, then Bankwest and now CBA, seems like QF is selling their points like hot cakes!

    • Keith Author

      Thanks for the tip on the CBA card, I’ll look it into it more detail. It is the season for sign up bonuses it seems… beginning of new financial year I can only assume means the bank’s marketing $$ have been topped up.

  2. Karl

    Just to let everyone know the 60K bonus points is only for their Citibank rewards and not transferable to Qantas points. I was about to sign up until they online chat lady told me this was the case.

    • Keith Author

      Hey Karl – you should argue this. The current offer page states:
      You have the choice of earning 60,000 Citibank reward points or 60,000 Qantas Frequent Flyer points (if you enrol in the Citibank Qantas Rewards Program for an additional annual fee of $49 at the time of application)

  3. Chris

    Hi all –

    I’d stay away from this card. I signed up online, and there was no option to credit the points to Qantas instead of Citibank rewards. I was a little suspect, so I rang them as my application was in process, and I was clearly told the 60k points would be credited to my qantas account (agreed to the extra fee and reiterated my qantas details). Two months later, over 8k spent on the card, repeat communication, and I receive an online message on the Citibank website saying I’m not eligible for the 60k qantas points, as they were credited to the Citibank rewards program. I’m still arguing with Citibank to get the points credited to my qantas FF, but it’s been a major hassle, and their representative has made no guarantee that they will credit the points to qantas.

    Keith – This Citibank deal is not as advertised. As you said in another reply above, the deal clearly states that the points can be credited to Citibank rewards or qantas. I wouldn’t be recommending Citibank products if they’re not holding up their end of the deal.

    • Sorry I missed this comment. Hope you get a resolution out of Citibank, it should be pretty clear cut but their customer service does leave a fair bit to be desired.

  4. James

    I’ve had similar issues with Citibank customer service early last year. I believe this was because they had all their customer service representatives offshore. Fortunately they had someone locally contact me and resolved my issue and offered me either 5k or 10k (I cant remember exactly) in points for the trouble. They also said in future if I had any issues to contact Onshore Services on 02 8225 0000 or 02 8288 2291. They are open from 8am to 8pm EST. Hope this helps people with issues with Citibank customer service.

  5. lissthree

    Can anyone with this card tell me how long after the first spend the points will take to be credited to an account? This card may come in handy towards the end of the year when Im about to purchase seats if I find Im a bit short but don’t want to leave it too close: if they came within 2-3 mths that would be ok .

    • Ben

      I’ve had this card for 3 months and I was always suss about the rewards points system not being in effect. Earlier enquiries to customer service instructed me to be patient, but today I phoned up again and sure enough, I’m not registered. So it’s being investigated with an answer in 5 days or so. The guy (pretty sure he was offshore) was efficient and figured there was a problem straight away, so no point in grilling him. If I’m not rewarded with the sign up bonus and points that should have been accredited, I’ll be letting rip. I’ll give the onshore number (in a comment below) a call if need be.

      Also had an issue with the additional card holder having the wrong home address so wasn’t issued. Didn’t resolve that after a few calls. Just couldn’t be bothered to keep trying. Will try again if/when the rewards issue is resolved. The infamous Citibank customer service at work again…

        • Ben

          Finally got my points up and running, but had to call a few times to get the 60K points, which only came through today.

          • Geoff

            I’m glad you got your points. Citibank stiffed my wife for her 60,000 points and as a consolation credited her with 2,000 Citibank reward points. Card is about to be cancelled. Would not recommend Citibank credit cards.

  6. Dave

    Hi Keith
    I have the Virgin Money velocity flyer visa, which is issued by citibank, so would I be eligible for this introductory offer for the bonus points? As I noticed on the citibank website that it states that existing citibank credit card holders are not eligible to apply for this offer.

    • In my experience, you’re not eligible for a new product with Citibank if you previously were approved for any other Citibank credit product in the previous 6 months. However, not sure if they block you from applying altogether with Virgin Money / CB product crossovers so best to give them a call to check.

    • Keith Author

      There’s no specified timing on the offer page, but from experience Citi Rewards points credit to the account instantly as soon as they are earned, so I would hope that would be at the end of the month that you meet the min spend criteria with the earn ‘x’ points every month offer, or with Qantas points they will sweep over mid month, so points from previous month should credit then. But check with Citi on the phone if this is really important to you.

  7. Joel

    Hi Keith,

    I am looking for a non Amex card (for when Amex isn’t accepted) that I can transfer points to Krisflyer account, from what I can tell the Citibank cards are the only ones you can do that with is this correct?

  8. Note that you do NOT earn any points when you pay your ATO bills with the Citibank card. I was about to sign up for them and found this important thing out prior. I went for the St George / Bank of Melbourne Altitude card instead for my non-Amex spend.

  9. SS

    Hi Keith, the $49 Qantas opt-in fee is annoying on this offer. Do you know if you have to call and request the opt-in like you do wit CBA? And is there any charge for additional cardholders?

    TIA

    • Keith Author

      I believe it’s applied as part of the signup process – you need to submit your QFF # I think to get this offer for the 60k points so given that, you’d then get charged the fee.

      AFAIK there’s no fee for additional cardholders on this account.

  10. charlie

    I called citi before I applied this card and been told that i can only choose either 60k points or $299 fee waive for life can only been ( YES, You can’t have both).

    I end up just take the fee waived.

    Or maybe I just got cheated by their representatives?

    • Keith Author

      Is this for Qantas Points or for Citi Rewards points that you’re looking for? The annual fee waiver on the Qantas Point offer is for first year only, if you were asking for waived for live then they may have been trying to get you in at that level, but with no points.

  11. Andrew

    Hi Keith, did you notice the transfer rate to velocity and KrisFlyer decrease in March 2016 as well in the fine print? Dropping to 2:1 from the current 1.5:1

  12. Jeff

    Shame they are devaluing the program, but I suppose with a large number of the cards not bringing in any annual fee revenue, and the RBA cutting down on the merchant fees, it was inevitable this was going to happen.

    I think the cut in the FOREX earn rate will hurt more the cut in domestic spend.

    Still, it’s hard to find a Visa card that has a better earn rate than 0.75/$1, especially when factoring in the card is free.

    From the sounds of it bpay will also no longer earn points, so that’s something to be careful of. Best to set up direct debit or go to the service providers page and use their payment system.

  13. Keith – I think this transfer option might have been here for some time, but I don’t think anyone has reported it. Citi Signature Rewards seem to let me transfer to Emirates Skyward Miles: “2.5 Rewards points for 1 Skywards Miles”. Not a great transfer rate, and not the best FFP, but another option nonetheless.

  14. Let me get this straight, 150,000 points over 15 months at 10,000 Citi Rewards p/m and all you have to do is spend $1 a month min?!

    There has to be a catch… correct me if I’m wrong?

  15. CJ

    I had applied for Citi Signature Qantas card a month or so ago, after continual phone calls and supplying all of my information as in tax returns, accountant details etc they have today knocked me back and said to reapply in 3 months as I am a risk to them. I’m staggered as I have an excellent credit history, have never been late on a payment for anything, earn good money, own my house and I am able to travel regularly to overseas destinations. I just don’t get it. Admittedly I only wanted the 50000 Qantas points on offer, so will go elsewhere I guess. I have never had an issue with any other credit card providers. I often churn cards after two or so years as a safety thing as well as sign on bonuses.

Links to this article

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