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Citi is offering up to 200,000 bonus Citi reward Points plus a discounted first year annual fee of $150 (usually $300 p.a.) for new cardholders of the Citi Premier credit card until 30 April 2024. This is currently equivalent to 100,000 Velocity Points or 80,000 KrisFlyer miles when transferred out of Citi Rewards.
The bonus is only available for new cardholders who are approved for the Citi Premier credit card and is split into two parts. The first 150,000 bonus Citi reward Points are to be received after spending a minimum of $7,000 on eligible purchases in the first 90 days from approval using your new Citi Premier credit card and an additional 50,000 bonus Citi reward Points if you keep your card over 12 months.
Cardholders can still enjoy a $150 annual fee in each subsequent year if they spend $48,000 on eligible purchases in the previous year.
The Citi Premier credit card earns up to 2 Citi reward Points per dollar on eligible spend and includes complimentary Priority PassTM membership with two airport lounge visits each year, plus the ability to earn Citi reward Points and redeem them for a statement credit or transfer them to participating partners.
Digging into the benefits of the Citi Premier credit card
The Citi Premier credit card earns Points in the Citi Rewards program.
|Card||Citi Premier credit card|
|Loyalty program||Citi Rewards|
|Citi Rewards earn rate||2 Citi reward Points per $1 spent on Eligible Transactions online or overseas
1 Citi reward Point per $1 spent on Eligible Transactions everywhere else
|Points cap||200,000 Citi reward Points over a 12-month period|
|Minimum credit limit||$10,000|
|Earns points at ATO||No|
|Travel benefits||Priority PassTM membership and two complimentary airport lounge visits each year|
|Annual fee||$150 for the first year and each subsequent year if you spend $48,000 on eligible purchases or cash advances in the previous year, otherwise $300 p.a. ongoing|
|Overseas transaction fee||3.40% of the converted amount|
|Included insurances*||International Travel Insurance
Domestic Travel Insurance
Rental Vehicle Excess Insurance in Australia
Purchase Protection Insurance
Extended Warranty Insurance
(Policy Information Booklet)
|Mobile wallet||Apple Pay, Google Pay and Samsung Pay|
Citi Rewards transfer partners for the Premier credit card are low in number but high in quality:
Cardholders can transfer their Citi reward Points at the following rates.
Transferring to Velocity allows cardholders to redeem for flights on Virgin Australia.
Effective Frequent Flyer Program Point Earn Rates
|Frequent Flyer Program||All other eligible spend||Eligible Transactions made online
and International Spend
|Qantas Points*||0.5 point / $||1 point / $|
|Velocity Points||0.5 point / $||1 point / $|
|Singapore Airlines KrisFlyer miles||0.4 point / $||0.8 point / $|
|* Qantas Points are only earned through the Citi Premier Qantas credit card|
The minimum number of Citi reward Points required to make a transfer varies depending on the partner program.
- Velocity Frequent Flyer – Minimum 2,000 points in 1-point increments
- Singapore KrisFlyer – Minimum 20,000 points in 1-point increments
- Flybuys – Minimum 2,000 points in 1-point increments
Any balance less than the minimum is ineligible to be transferred to frequent flyer programs until the minimum threshold is reached.
The card also comes with Priority PassTM airport lounge membership, currently valued at US$99 per year, and two included airport lounge visits currently valued at US$35 each.
Finally, you may be eligible for a range of insurances, including the following:
- International Travel Insurance
- Domestic Travel Insurance
- Rental Vehicle Excess Insurance in Australia
- Purchase Protection Insurance
- Extended Warranty Insurance
As per usual, you’ll need to read the Policy Information Booklet to consider the eligibility requirements 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 card. You should read the Policy Information Booklet and obtain independent professional advice before obtaining this product.
Earn Citi reward Points on larger everyday expenses such as rent, taxes, education fees, property management fees, childcare and miscellaneous bills with Citi PayAll. Offers are subject to eligibility and are only available if your account is in good standing (for example – your account is not in default, suspended or closed).
Apple Pay, Google Pay & Samsung Pay support
Summing up: the Citi Premier credit card
The Citi Premier credit card’s airline and loyalty partners are of a high quality and are among the largest in the Australian market. The Card also comes with additional benefits, such as complimentary Priority PassTM membership and 2 airport lounge visits and complimentary insurance, making for a more comfortable journey in the future. Also, the ability to turbocharge your Points earned from Citi PayAll is another great feature.
The Card remains to be considered for high volumes of points earn outside of Qantas Frequent Flyer on a Mastercard or Visa so you’ll need to be using the card a lot on online and overseas spend to make the fee worthwhile, also note that points earn is capped at 200,000 Citi reward Points over a 12 month period.
Overall, this is a Card worth considering for those who like to diversify their Points earn and are looking for a mid-range annual fee card.
Complimentary Insurance *
AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the underwriter, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz) has issued a Complimentary insurance group policy to National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) (“NAB”) which allows eligible NAB account holders and cardholders to claim under it as third party beneficiaries by operation of s48 of the Insurance Contracts Act 1984 (Cth).
NAB is the credit provider and issuer of Citi branded credit cards. NAB has acquired the business relating to these products from Citigroup Pty Limited (ABN 88 004 325 080, AFSL and Australian Credit Licence 238098) (“Citi”).
Citi has agreed with NAB to provide transitional services in relation to the transferred business. Any advice on insurance is general advice only and not based on any consideration of your objectives, financial situation or needs.
The terms, conditions, exclusions, limits and applicable sub-limits of the group policy are set out in the Citi Credit Cards Complimentary Insurance Policy Information Booklet which may be amended from time to time. Neither NAB nor Citi nor any of its related corporations guarantee this insurance.
National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) (“NAB”) is the credit provider and issuer of Citi branded financial and credit products. NAB has acquired the business relating to these products from Citigroup Pty Ltd (ABN 88 004 325 080, AFSL and Australian Credit Licence 238098) (“Citi”) and has appointed Citi to provide transitional services.
Our/us/we means NAB unless the context otherwise requires it.
“Citi”, “Citibank”, “Citigroup”, the Arc design and all similar trade marks and derivations thereof are used temporarily under licence by NAB from Citigroup Inc. and related group entities.