Point Hacks Credit Card Guide

Up to 310,000 Citi Rewards points—equivalent to 155,000 Velocity Points—plus reduced $195 first-year fee with Citi Rewards Signature credit card

Citi Rewards Signature Card - up to 310,000 Citi Rewards points (155,000 Velocity points / 124,000 Krisflyer miles if transferred)

Up to 310,000 Citi Rewards Points are on offer with the Citi Rewards Signature Credit Card. The card includes two Priority Pass lounge access each year, plus a reduced annual fee of $195 for the first year and the ability to transfer points from Citi Rewards Program to a number of partners.

  • Up to 300,000 Citibank Rewards points plus an additional 10,000 bonus Citi Rewards points when you apply for the Linked Diners Club Card
  • 0% interest p.a. for 12 months with no BT fee
  • 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
  • Receive 15,000 bonus for every month you spend $1,000 or more on the Visa for the first 20 months from approval
  • Apply for the Linked Diners Club Card and make your first spend to receive the additional 10,000 point bonus
  • Annual fee: $195 p.a. for the first year, and 50% off (currently $197.50) ongoing where $48,000 is spent in prior year. Otherwise reverts to $395 p.a.
  • Offer expires: 31 March 2019

Find out more or apply →

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Citi are offering up to 310,000 bonus Rewards points and reduced first-year annual fee of $195 for new cardholders of the Citi Rewards Signature credit card until 31 March, equivalent to 155,000 Velocity Points or 120,000 KrisFlyer miles if transferred out of Citi Rewards.

The bonus points are split into chunks of 15,000 points for every month you spend at least $1,000 on the Visa for the first 20 months from approval and an additional 10,000 bonus points is also available if you signup for the Linked Diners Club Card. Note that applying for a linked Diner’s Club card will not create an additional credit enquiry, however as at 11 September 2018, Citibank advised that they have temporarily suspended issuing these cards due to their systems requiring upgrading. They could not give a specific date when this will be up and running again.

The bonus is only available for new cardholders who sign up for the Citi Rewards-linked card, although cardholders could also choose to earn Qantas Points without this bonus.

New to this offer (and likely to be an ongoing benefit) is the ability to reduce the succeeding annual fee by 50% if you are able to spend at least $4,000 per month or $48,000 per year on the Visa card.

As mentioned, the bonus points can be transferred to Velocity points at a ratio of 1:0.5 or 155,000 Velocity Points and below are some examples of how you can use them.

How you could use the bonus points from this card

All redemption figures shown are examples only and exclude accompanying taxes and fees. Points redemption price data is provided by a third-party, so inaccuracies may be present. Please check with the airline directly for a complete and accurate total redemption cost.

Citi Rewards Signature credit card: the basics

When you sign up for the Citi Rewards Signature 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 Details

CardCiti Rewards Signature Credit Card
Loyalty programCiti Rewards Program
Citi Rewards earn rate2 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 capCiti Rewards points are uncapped
Minimum credit limit$15,000
Earns points at ATONo
Travel benefitsPriority Pass lounge access and two included lounge visits
First Year Annual Fee$199
Regular Annual fee$395 p.a.
Overseas transaction fee3.40% of the converted amount
Minimum income requirement$75,000 p.a.

Effective Frequent Flyer Program Point Earn Rates

Frequent Flyer ProgramMajor restaurants,
hotels and major
airlines
Major petrol stations,
supermarkets and
national retailers
All other eligible spendInternational Spend
Qantas Points*1 point / $0.75 point / $0.5 point / $1 point / $
Velocity Points1 point / $0.75 point / $0.5 point / $1 point / $
Singapore Airlines KrisFlyer Miles0.8 mile / $0.6 point / $0.4 point / $0.8 point / $
Emirates Skyward0.8 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 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 Rewards Signature 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 the full guide to the Citi Rewards program here.

Citi Rewards transfer partners for the Rewards Signature Credit Card are low in number but high in quality:

  • Virgin Australia Velocity
  • Singapore Airlines KrisFlyer
  • Emirates Skywards

For Citi Signature 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.

You can redeem your Citi Rewards points for a ‘The Business’ seat on Virgin Australia

Citibank has recently amended the minimum number of Citi rewards points that can be transferred, and the change is a welcome one. Previously, the minimum number of points that could be transferred was 20,000, and points could only be transferred in blocks of 20,000 points thereafter.

The new requirements vary by frequent flyer 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$27 each.

Citi Signature Priority Pass pack

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.

Citi Apple Pay & Android Pay support

Citi cards supports Apple Pay & Android, meaning you can use this card on your smartphone for easier payments. Find out more in our guides for each of the compatible services.

Up to 310,000 Citi Rewards points—equivalent to 155,000 Velocity Points—plus reduced $195 first-year fee with Citi Rewards Signature credit card was last modified: September 12th, 2018 by Keith

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.

Summing up: the Citi Rewards Signature credit card

The Citi Rewards Signature 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.

Terms & conditions

Citi would also like us to include the following:

To be eligible to receive up to 300,000 bonus Points you must apply for a Citi Rewards Signature Credit Card by 31 March 2019. You will receive 15,000 bonus Points when you spend a minimum of $1,000 during each monthly statement cycle. A maximum of 300,000 bonus Points can be earned over the first 20 monthly statement cycles. If you do not meet the minimum spend for one monthly statement cycle, you forfeit the bonus Points for that monthly statement cycle, however you are still eligible for subsequent months 15,000 bonus Points if you meet the minimum spend within each monthly statement cycle during the promotional period. Cash Advances, Balance Transfers, Refunds, Chargebacks and Special Promotions do not contribute to the spend threshold. The bonus Points will be credited within 6 – 8 weeks of meeting the spend criteria for any given month. All rewards are subject to the Terms and Conditions of the Citibank Rewards Program. Please note that if you have a balance transfer, you will be charged interest on any spend that you make. This offer is valid until 31 March 2019. Post this advertised date; Citi reserves the right to continue, withdraw or change the offer at any time without notice.

Separate Diners Club Terms and Conditions apply to a Linked Diners Club Card as it is a separate credit facility from Diners Club that is paid through your Citi credit card.  Eligibility criteria apply including that you must be approved for an account that is eligible for a Linked Diners Club Card. Diners Club has appointed Citi to administer the Linked Diners Club Card. Any credit balance on the Linked Diners Club Card is not a deposit liability of Citi, or any other affiliate of Citi, is not a protected account and is not guaranteed.  

All rewards on your Linked Diners Club Card are subject to the Terms and Conditions of the Citibank Rewards Program and the Additional Rewards Terms – Linked Diners Club Card with Citi Prestige Credit Card and Citibank Rewards Credit Card – Signature. Eligible Transaction is defined in the Rewards Program Terms and Conditions and means any purchase excluding (but not limited to) cash advances, balance transfers, special promotions, BPAY payments, government related transactions and all other transactions set out within the definition. Please click here for the full definition of Eligible Transactions. Points do not expire while the card remains open and in good standing.

No International Transaction Fee is only applicable for transactions made on your Linked Diners Club Card; including on the amounts transferred to your Citi Credit Card. If you transact using your Citi Credit Card, an International Transaction Fee will be charged (where applicable).

Up to 310,000 Citi Rewards points—equivalent to 155,000 Velocity Points—plus reduced $195 first-year fee with Citi Rewards Signature credit card was last modified: September 12th, 2018 by Keith

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Comments Expand Comments

    • Hi Hendra

      The T&Cs do not specifically exclude current Citibank credit card holders from being eligible for the bonus points, however, it is always best to check with Citibank prior to applying to be certain. Their terms regarding the bonus points are as follows:

      To be eligible to receive up to 300,000 bonus Points you must apply for a Citi Rewards Signature Credit Card by 31 March 2019. You will receive 15,000 bonus Points when you spend a minimum of $1,000 during each monthly statement cycle. A maximum of 300,000 bonus Points can be earned over the first 20 monthly statement cycles. If you do not meet the minimum spend for one monthly statement cycle, you forfeit the bonus Points for that monthly statement cycle, however you are still eligible for subsequent months 15,000 bonus Points if you meet the minimum spend within each monthly statement cycle during the promotional period. Cash Advances, Balance Transfers, Refunds, Chargebacks and Special Promotions do not contribute to the spend threshold. The bonus Points will be credited within 6 – 8 weeks of meeting the spend criteria for any given month. All rewards are subject to the Terms and Conditions of the Citibank Rewards Program. Points do not expire while the card remains open and in good standing. Please note that if you have a balance transfer, you will be charged interest on any spend that you make. This offer is valid until 31 March 2019. Post this advertised date; Citi reserves the right to continue, withdraw or change the offer at any time without notice.

    • Hi Flying High

      I have confirmed with Citibank that applying for a linked Diner’s Club card will not create an additional credit enquiry, however as at 11 September, I was advised that they have temporarily suspended issuing these cards due to their systems requiring upgrading. Citibank could not give a specific date when this will be up and running again.

  1. rich leeman

    If you like being jerked around for months talking to indian call centres have numerous staff lie to ,not able to speak to any local person, then dealing with citi is the place for you, my saga started in dec last yr ,it took months to actually get them to accept me with a great credit rating,the worst banking experience of my life would not have bothered for the points 120000 citi points sounds great but it translates to 50 000QF ff points ,do yourself a favour don’t have ANYTHING TO DO WITH THEM if youre after points go to ANY other bank ,I have sent in an official complaint to the banking ombudsman about this dodgy bank

  2. Sam

    Hi Keith,
    Good article, but it looks like Citi may have devalued airlines transfer rates again; at Citi Rewards they show Velocity at 2.5:1 and Kris at 3:1 or am I missing something as at this transfer are the 120k bonus doesn’t really seem that great anymore.
    Thanks.

      • There hasn’t been a devaluation.

        The way the Citibank Rewards site is designed is that it shows the transfer rates that apply for the Citi Platinum card when you visit without logging in.

        However, when you log into the Citi Rewards site as a Citi Signature card holder, the correct transfer rates apply. These are:

        2.5 points = 1 Skywards mile
        2.5 points – 1 KrisFlyer mile
        2 points = 1 Velocity point

        I hope that clears it up.

  3. Hi Keith.

    Thanks for a great article about citi rewards.
    I just want to ask about the increased bonus of 120k. How much is it equal to Qantas points ? Also the same Q for citi infinite card ?

    Cheers.
    Hassan.

  4. CJ

    I had applied for Citi Signature Qantas card a month or so ago, after continual phone calls and supplying all of my information as in tax returns, accountant details etc they have today knocked me back and said to reapply in 3 months as I am a risk to them. I’m staggered as I have an excellent credit history, have never been late on a payment for anything, earn good money, own my house and I am able to travel regularly to overseas destinations. I just don’t get it. Admittedly I only wanted the 50000 Qantas points on offer, so will go elsewhere I guess. I have never had an issue with any other credit card providers. I often churn cards after two or so years as a safety thing as well as sign on bonuses.

  5. Let me get this straight, 150,000 points over 15 months at 10,000 Citi Rewards p/m and all you have to do is spend $1 a month min?!

    There has to be a catch… correct me if I’m wrong?

  6. Keith – I think this transfer option might have been here for some time, but I don’t think anyone has reported it. Citi Signature Rewards seem to let me transfer to Emirates Skyward Miles: “2.5 Rewards points for 1 Skywards Miles”. Not a great transfer rate, and not the best FFP, but another option nonetheless.

  7. Jeff

    Shame they are devaluing the program, but I suppose with a large number of the cards not bringing in any annual fee revenue, and the RBA cutting down on the merchant fees, it was inevitable this was going to happen.

    I think the cut in the FOREX earn rate will hurt more the cut in domestic spend.

    Still, it’s hard to find a Visa card that has a better earn rate than 0.75/$1, especially when factoring in the card is free.

    From the sounds of it bpay will also no longer earn points, so that’s something to be careful of. Best to set up direct debit or go to the service providers page and use their payment system.

  8. Andrew

    Hi Keith, did you notice the transfer rate to velocity and KrisFlyer decrease in March 2016 as well in the fine print? Dropping to 2:1 from the current 1.5:1

  9. charlie

    I called citi before I applied this card and been told that i can only choose either 60k points or $299 fee waive for life can only been ( YES, You can’t have both).

    I end up just take the fee waived.

    Or maybe I just got cheated by their representatives?

    • Keith Author

      Is this for Qantas Points or for Citi Rewards points that you’re looking for? The annual fee waiver on the Qantas Point offer is for first year only, if you were asking for waived for live then they may have been trying to get you in at that level, but with no points.

  10. SS

    Hi Keith, the $49 Qantas opt-in fee is annoying on this offer. Do you know if you have to call and request the opt-in like you do wit CBA? And is there any charge for additional cardholders?

    TIA

    • Keith Author

      I believe it’s applied as part of the signup process – you need to submit your QFF # I think to get this offer for the 60k points so given that, you’d then get charged the fee.

      AFAIK there’s no fee for additional cardholders on this account.

  11. Note that you do NOT earn any points when you pay your ATO bills with the Citibank card. I was about to sign up for them and found this important thing out prior. I went for the St George / Bank of Melbourne Altitude card instead for my non-Amex spend.

  12. Joel

    Hi Keith,

    I am looking for a non Amex card (for when Amex isn’t accepted) that I can transfer points to Krisflyer account, from what I can tell the Citibank cards are the only ones you can do that with is this correct?

    • Keith Author

      There’s no specified timing on the offer page, but from experience Citi Rewards points credit to the account instantly as soon as they are earned, so I would hope that would be at the end of the month that you meet the min spend criteria with the earn ‘x’ points every month offer, or with Qantas points they will sweep over mid month, so points from previous month should credit then. But check with Citi on the phone if this is really important to you.

  13. Dave

    Hi Keith
    I have the Virgin Money velocity flyer visa, which is issued by citibank, so would I be eligible for this introductory offer for the bonus points? As I noticed on the citibank website that it states that existing citibank credit card holders are not eligible to apply for this offer.

    • In my experience, you’re not eligible for a new product with Citibank if you previously were approved for any other Citibank credit product in the previous 6 months. However, not sure if they block you from applying altogether with Virgin Money / CB product crossovers so best to give them a call to check.

  14. lissthree

    Can anyone with this card tell me how long after the first spend the points will take to be credited to an account? This card may come in handy towards the end of the year when Im about to purchase seats if I find Im a bit short but don’t want to leave it too close: if they came within 2-3 mths that would be ok .

    • Ben

      I’ve had this card for 3 months and I was always suss about the rewards points system not being in effect. Earlier enquiries to customer service instructed me to be patient, but today I phoned up again and sure enough, I’m not registered. So it’s being investigated with an answer in 5 days or so. The guy (pretty sure he was offshore) was efficient and figured there was a problem straight away, so no point in grilling him. If I’m not rewarded with the sign up bonus and points that should have been accredited, I’ll be letting rip. I’ll give the onshore number (in a comment below) a call if need be.

      Also had an issue with the additional card holder having the wrong home address so wasn’t issued. Didn’t resolve that after a few calls. Just couldn’t be bothered to keep trying. Will try again if/when the rewards issue is resolved. The infamous Citibank customer service at work again…

      • Ben

        Finally got my points up and running, but had to call a few times to get the 60K points, which only came through today.

      • Geoff

        I’m glad you got your points. Citibank stiffed my wife for her 60,000 points and as a consolation credited her with 2,000 Citibank reward points. Card is about to be cancelled. Would not recommend Citibank credit cards.

  15. James

    I’ve had similar issues with Citibank customer service early last year. I believe this was because they had all their customer service representatives offshore. Fortunately they had someone locally contact me and resolved my issue and offered me either 5k or 10k (I cant remember exactly) in points for the trouble. They also said in future if I had any issues to contact Onshore Services on 02 8225 0000 or 02 8288 2291. They are open from 8am to 8pm EST. Hope this helps people with issues with Citibank customer service.

  16. Chris

    Hi all –

    I’d stay away from this card. I signed up online, and there was no option to credit the points to Qantas instead of Citibank rewards. I was a little suspect, so I rang them as my application was in process, and I was clearly told the 60k points would be credited to my qantas account (agreed to the extra fee and reiterated my qantas details). Two months later, over 8k spent on the card, repeat communication, and I receive an online message on the Citibank website saying I’m not eligible for the 60k qantas points, as they were credited to the Citibank rewards program. I’m still arguing with Citibank to get the points credited to my qantas FF, but it’s been a major hassle, and their representative has made no guarantee that they will credit the points to qantas.

    Keith – This Citibank deal is not as advertised. As you said in another reply above, the deal clearly states that the points can be credited to Citibank rewards or qantas. I wouldn’t be recommending Citibank products if they’re not holding up their end of the deal.

    • Sorry I missed this comment. Hope you get a resolution out of Citibank, it should be pretty clear cut but their customer service does leave a fair bit to be desired.

  17. Karl

    Just to let everyone know the 60K bonus points is only for their Citibank rewards and not transferable to Qantas points. I was about to sign up until they online chat lady told me this was the case.

    • Keith Author

      Hey Karl – you should argue this. The current offer page states:
      You have the choice of earning 60,000 Citibank reward points or 60,000 Qantas Frequent Flyer points (if you enrol in the Citibank Qantas Rewards Program for an additional annual fee of $49 at the time of application)

  18. Nelson

    Hi Keith,
    Still reading your Citibank card guide 🙂 so thanks!

    Just to let you know, I just received an email from Qantas, sign up to Commonwealth Bank Awards Card and get 40,000 QF points, and 50% off the annual fee for the first year.

    First Citibank, then ANZ, then Bankwest and now CBA, seems like QF is selling their points like hot cakes!

    • Keith Author

      Thanks for the tip on the CBA card, I’ll look it into it more detail. It is the season for sign up bonuses it seems… beginning of new financial year I can only assume means the bank’s marketing $$ have been topped up.

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  1. Citibank Prestige Visa Infinite - Ultimate Benefits Guide

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