Note: This card was previously called Citi Signature Rewards up until 20 January 2020. Only the name has been changed, features and benefits have remained the same for the time being.
Citi Premier credit card – the basics
When you sign up for the Citi Premier credit card, you’re going to receive the bonus in Citi Rewards points (but you could swap to Qantas Rewards 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.
|Card||Citi Premier Credit Card|
|Loyalty program||Citi Rewards Program|
|Citi Rewards earn rate||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
|Points cap||Citi Rewards points are uncapped|
|Minimum credit limit||$15,000|
|Earns points at ATO||No|
|Travel benefits||Priority Pass lounge access and two included lounge visits|
|First Year Annual Fee||$199|
|Regular 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 Premier Qantas Visa card|
Digging into the benefits of the Citi Premier Credit Card
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.
There’s a minimum income requirement of $75,000.
The Citi Premier Credit Card can also be linked to Qantas Frequent Flyer, with points earned from spend earned into one program or the other. If you decide to use the card to earn Citi Rewards points, have a read of our full guide to the Citi Rewards program here.
Citi Rewards transfer partners for the Premier Credit Card are low in number but high in quality:
- Virgin Australia Velocity
- Singapore Airlines KrisFlyer
- Emirates Skywards
For Citi Premier cardholders, points transfer out to Virgin Australia‘s Velocity at 2 Citi Rewards point to 1 Velocity point and to Singapore Airlines’ KrisFlyer program at 2.5 Citi Rewards points to 1 KrisFlyer miles.
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.
You can swap the card between Citi Rewards points and Qantas Points earn once per year, so do this only when you need to.
Priority Pass benefit
The card also comes with Priority Pass lounge membership, valued at US$99 per year, and two included lounge visits valued at US$32 each.
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 card. You should read the PDS and obtain independent professional advice before obtaining this product.
You can now earn uncapped 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.
Citi Apple Pay & Samsung Pay support
Citi cards supports Apple Pay & Samsung Pay, meaning you can use this card on your smartphone for easier payments. Unfortunately, Google Pay is currently not supported.
Summing up: the Citi Premier credit card
The Citi Premier credit card remains to be considered 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 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 points earn.
The bonus points categories plus the points earn on spend should be considered alongside the card’s benefits to ensure it is going to work well for you.
Editorial Note: Opinions expressed on this guide are the author’s alone and have not been reviewed, approved or otherwise endorsed by Citi.