Citi Signature Visa - 75,000 Citi Rewards points (37,500 Velocity points / 30,000 Krisflyer miles if transferred)
75,000 Citi Rewards Points are on offer with the Citi Signature Visa, convertible to 37,500 Virgin Australia Velocity points or 30,000 Singapore Airlines Krisflyer miles . Includes two Priority Pass lounge access each year and a reduced annual fee of $199 for the first year.
- 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
- 2 Rewards Points per $1 for selected purchases made and booked directly from a range of major restaurants and restaurant chains, major hotel chains and flights directly booked with major airlines and international spend
- 1.5 Rewards points per $1 for selected purchases made at major petrol outlets, major supermarkets and major national retailers
- 1 Reward Point per $1 spent everywhere else on Eligible Transactions
- $199 p.a. annual fee first year, $395 ongoing
- Offer expires: 31 August 2017
- Spend on everyday purchases within the first 90 days to receive bonus points
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 30,000 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.
Using the card for overseas spend incurs a 3.4% fee, with earn rate similar to the highest bonus category at 1 Qantas point or 2 Citi Rewards points per $1 uncapped.
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.
50,000 Qantas Points are on offer with the Citi Qantas Signature Visa with reduced annual fees totalling $248 in the first year. Includes two Priority Pass lounge access each year and offers up to 1 Qantas point per $ on spend.
- 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 $1 for selected purchases made and booked directly from a range of major restaurants and restaurant chains, major hotel chains and flights directly booked with major airlines and international spend
- 0.75 Qantas point per $1 for selected purchases made at major petrol outlets, major supermarkets and major national retailers
- 0.5 Qantas point per $1 spent everywhere else on Eligible Transactions
- 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 September 2017
- Spend $2,000 in the first 90 days to receive bonus points
Point Hacks earn a maximum of $160 per applicant for this card. More about this →
|Card||Citi Signature Visa|
|Loyalty program||Citi Rewards or Citi Qantas Rewards (+$49)|
|Citi Rewards earn rate||1 Qantas point or 2 Rewards Points per $1 for selected purchases made and booked directly from a range of major restaurants and restaurant chains, major hotel chains and flights directly booked with major airlines and international spend
0.75 Qantas point or 1.5 Rewards points per $1 for selected purchases made at major petrol outlets, major supermarkets and major national retailers
0.5 Qantas point or 1 Reward Point per $1 spent everywhere else on Eligible Transactions
|Points cap||Citi Rewards points are uncapped, OR
Qantas Points regular spend capped at $20,000 per statement period
|Earns points at ATO||No|
|Travel benefits||Priority Pass lounge access and two included lounge visits|
|Annual fee||$395 p.a.|
|Overseas transaction fee||3.40% of the converted amount|
|Minimum income requirement||$75,000 p.a.|
Effective Frequent Flyer Program Point Earn Rates
|Frequent Flyer Program||Major restaurants, |
hotels and major
|Major petrol stations, |
|All other eligible spend||International Spend|
|Qantas Points*||1 point / $||0.75 point / $||0.5 point / $||1 point / $|
|Velocity Points||1 point / $||0.75 point / $||0.5 point / $||1 point / $|
|Singapore Airlines KrisFlyer Miles||0.8 mile / $||0.6 point / $||0.4 point / $||0.8 point / $|
|Emirates Skyward||0.8 mile / $||0.6 point / $||0.4 point / $||0.8 point / $|
|* Qantas Points are only earned through the Citi Signature Qantas Visa card|
Digging into the benefits of the Citi Rewards Signature Visa
You’ll earn 2 Citi Rewards points per $1 on eligible spend at major restaurants, restaurant chains, hotel chains, flights directly booked with major airlines and international spend. 1.5 Citi Rewards points per $1 at major petrol outlets, supermarkets and national retailers and 1 point everywhere else uncapped.
If you opt-in to Citi Qantas Rewards, similar bonus points categories are in place but earn rate is halved to 1 Qantas point per $1 on eligible spend at major restaurants, restaurant chains, hotel chains and flights directly booked with major airlines. 0.75 Qantas point per $ at major petrol, supermarkets and national retailers and 0.5 point everywhere else. Bonus categories are uncapped but regular spend is capped at $20,000 per statement period. 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:
- Virgin Australia Velocity
- Singapore Airlines Krisflyer
- 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 at 2 Citi Rewards point to 1 Velocity point and on Singapore Airlines’ Krisflyer program at 2.5 Citi Rewards points to 1 Krisflyer Miles.
There is a minimum transfer requirement of 20,000 Citi 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
Citi 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 depends on the category they’re in + 3 bonus points per $1 spent. This means you can potentially earn 5 points per dollar if you stay at bonus partner hotels.
Bonus points are not available to those who earn points into Qantas Frequent Flyer. 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.
The way this works in practice is that you’ll receive a promotional pack from Citi 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.
The bonus points categories plus the points earn on spend should be considered alongside the cards benefits to ensure it’s going to work well for you.
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