Citi is offering 0% p.a. for 26 months on Balance Transfers and no annual fee for the first year for new cardholders of the Citi Rewards card until 31 August 2020.

Note that no interest-free days apply to retail purchases while you have a balance transfer.

Digging into the details of the Citi Rewards Card

Card Details

CardCiti Rewards Credit Card
Loyalty programCiti Rewards Program
Citi Rewards earn rate1 Citi Rewards points per $1 spent on eligible purchases
Points cap$10,000 on domestic spend, uncapped for international spend
Earns points at ATONo
Annual fee$0 on the first year ($199 p.a. ongoing)
Overseas transaction fee3.4% of the converted amount
Minimum income requirement$35,000 p.a.

Effective Frequent Flyer Program Point Earn Rates

Frequent Flyer ProgramPoints earned from spend
Velocity Points0.4 point / $
Singapore Airlines Krisflyer Miles0.33 mile / $
Emirates Skyward0.33 mile / $

You will be automatically enrolled in the Citi Rewards Program once you’re approved for the Citi Rewards 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 3 frequent flyer transfer partners:

  • Virgin Australia Velocity (2.5:1)
  • Singapore Airlines KrisFlyer (3:1) and
  • Emirates Skywards (3:1)

Unlike the Citi Premier or Citi Prestige cards, the Citi Rewards Card does not allow for the option to direct earn Qantas Points through the ‘Citi Qantas Rewards’ program.

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 and Skywards. This results in an effective earn rate of 0.4 per dollar for Velocity Points and 0.33 miles per dollar for both Krisflyer and Skywards.

Citi Rewards 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 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
  • Emirates Skywards – Minimum 15,000 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 offers benefits in addition to reward points, including complimentary insurances, free wine when you dine at selected restaurants and a personal concierge. Further information on these benefits can be found here.

Summing up

The key benefit of the Citi Rewards 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.

It will also suit those who might not be eligible for more premium cards with higher income requirements who are looking for a card that still offer some ‘premium’ features, such as complimentary insurances and concierge.

Remember though that if you decide to take the current Balance Transfer offer, you will not be able to take advantage of interest-free days on your retail purchases.

0% p.a. for 26 months on Balance Transfers and no annual fee for the first year with the Citi Rewards Card was last modified: July 10th, 2020 by Daniel Sciberras