Citi are offering up to 130,000 bonus Rewards points and reduced first-year annual fee of $199 for new cardholders of the Citi Rewards Signature credit card, equivalent to 65,000 Velocity Points or 52,000 KrisFlyer miles if transferred out of Citi Rewards.

A minimum spend requirement of $4,000 within the first 90 days is required to receive the 120,000 bonus Rewards Points. An additional 10,000 bonus points is also available if you signup for the Linked Diners Club card.

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.

As mentioned, the bonus points can be transferred to Velocity points at a ratio of 1:0.5 or 65,000 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 above exclude any accompanying taxes, fees and charges. Points redemption price data is provided by a third-party. For an exact total redemption cost, please consult with the airline directly.


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 our 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.

Virgin Australia A330 Business Seat

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

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.

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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.

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.

Up to 130,000 Citi Rewards points—equivalent to 65,000 Velocity Points—plus reduced $199 first-year fee with Citi Rewards Signature Visa was last modified: July 23rd, 2019 by Daniel Sciberras

Insurance

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:

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 Linked Diners Club Card Extra Terms Part 2. 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. 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 make an international transaction using your Citi Credit Card, an International Transaction Fee will be charged (where applicable).

Up to 130,000 Citi Rewards points—equivalent to 65,000 Velocity Points—plus reduced $199 first-year fee with Citi Rewards Signature Visa was last modified: July 23rd, 2019 by Daniel Sciberras