Citi is offering 100,000 Citi reward Points plus a discounted first-year annual fee of $99 ($199 p.a. thereafter) for new cardholders of the Citi rewards credit card who apply by 30 April 2024 and spend $5,000 or more on eligible purchases in the first 90 days from approval.
The Rewards Mastercard is Citi’s entry-level card linked to their flexible program – Citi Rewards.
Other cards in the Citi Rewards program line up are the higher tier Citi Premier and the featured-packed high-end Citi Prestige credit card. This guide covers the earn rates and benefits of the Citi Rewards credit card.
Digging into the details of the Citi Rewards credit card
|Card||Citi Rewards credit card|
|Loyalty program||Citi Rewards Program|
|Citi Rewards earn rate||1 Citi reward Points per $1 spent on eligible purchases|
|Points cap||$10,000 on domestic spend, uncapped for international spend|
|Earns points at ATO||No|
|Included Insurance*||International Travel Insurance
Mobile Phone Insurance
(Policy Information Booklet)
|Overseas transaction fee||3.4% of the converted amount|
|Mobile wallet||Apple Pay, Samsung Pay|
|Minimum income requirement||$35,000 p.a.|
Effective Frequent Flyer Program Point Earn Rates
|Frequent Flyer Program||Points earned from spend|
|Velocity Points||0.4 point / $|
|Singapore Airlines Krisflyer miles||0.33 mile / $|
|flybuys||1 point / $|
You will be automatically enrolled in the Citi Rewards Program once you’re approved for the Citi Rewards credit card, which is a flexible credit card points program that allows you to transfer your points to various airline programs at a time of your choosing. The Citi Rewards program linked to the Rewards card has 2 frequent flyer transfer partners:
The points earn rate for all purchases is 1 Citi Rewards Point per AUD1 – which transfers at a 2.5:1 ratio to Velocity and 3:1 to KrisFlyer. This results is an effective earn rate of 0.4 per dollar for Velocity Points and 0.33 miles per dollar for KrisFlyer.
Citi Rewards credit cardholders have a points cap of $10,000 on purchases within Australia per statement period, but no capping for international spend.
International spend incurs a 3.4% international transaction fee, with no points being earned on the fee.
Features of the Citi Rewards credit card
The minimum number of Citi Rewards Points required to make a transfer varies depending on the partner program, and are as follows:
- 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 Citi Rewards credit card offers benefits in addition to reward points, including complimentary insurance, free wine when you dine at selected restaurants and a personal concierge. Further information on these benefits can be found here.
Apple Pay & Samsung Pay Support
You may also be eligible for a number of insurances, such as the following:
- Complimentary International Travel Insurance
- Complimentary Mobile Phone 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
The key benefit of the Citi Rewards credit card is the flexibility of the Citi Rewards program, which allows you to transfer reward points to your frequent flyer program of choice at a time that best suits your travel needs, or to take advantage of special offers like the bi-annual Velocity transfer bonus offers.
The card is best suited to travelers who do not want to be locked into any particular airline. While the choice of airlines in the Citi Rewards program linked to the Rewards Card is quite limited, it does cover high quality premium airlines that are very active in the Australian market.
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.