Citi Premier Credit Card

Offers a big 130,000 bonus points and a discounted $150 first-year annual fee. But make sure the benefits give you enough value to justify the annual fee after that.

The Citi Premier gives you up to 2 points per $1 spent, complimentary Priority Pass lounge membership and passes, a concierge service and exclusive Citi World Privileges. You'll get 130,000 bonus Citi Rewards points when you apply by 28 April 2022 and spend $4,000 on eligible purchases in the first 90 days from approval – enough for $450 worth of digital gift cards. It has a $150 annual fee in the first year, and in future years if you spend at least $48,000 for that year. Otherwise, a higher $300 annual fee applies.

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Amy Bradney-George

Last Updated Aug 2, 2021

130,000

Bonus points

21.49% p.a.

Purchase rate

Reward point

Per $ spent

$150 p.a.

Annual fee

for the first year ($300 p.a. thereafter)

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Details

Product Name	Citi Premier Card
Rewards program	Citi Rewards Program
Balance transfer rate	0% p.a. for 6 months
Balance transfer revert rate	Cash Advance Rate (22.24% p.a.)
Balance transfer limit	80% of available limit
Purchase rate	21.49% p.a.
Annual fee	$150 annual fee for the first year ($300 p.a. thereafter)
Interest-free period	Up to 55 days on purchases
Cash advance rate	22.24% p.a.
Min credit limit	$15,000
Max credit limit	$100,000
Card type	Mastercard
Foreign currency conversion fee	3.4%

Minimum income	$75,000
Available to temporary residents	No
Joint application	No

Pros

130,000 bonus points offer
Discounted $150 annual fee in the first year and each subsequent year when you spend $48,000 on eligible purchases or cash advances in the previous year
0% p.a. on balance transfers for 6 months, with no BT fee

Cons

The standard annual fee of $300 is relatively high
The earn rates are different across 3 categories

Rewards program	Citi Rewards Program
Bonus points	130,000
Rewards points per $ spent	1
Rewards points cap	200

Annual fee	$150 annual fee for the first year ($300 p.a. thereafter)
Minimum monthly repayment	2% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3.4%
Cash advance fee	3.5% or $3.50, whichever is greater
Overseas cash advance fee	5%
Additional cardholder fee	$0
Number of additional cardholders	4

Go to Citi's site More info

Review by

Amy Bradney-George

[email protected]

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

Re-launched in April 2021, the Citi Premier is a top-level credit card that offers flexible rewards points and has a generous bonus points offer. You could use 130,000 bonus Citi rewards points to get $450 worth of digital gift cards from brands including THE ICONIC, JB Hi-Fi, Bunnings Warehouse, Coles and Woolworths. Or, use points to pay for purchases you'd already planned to make. And, as another example, you could transfer them to Velocity Frequent Flyer and get 52,000 points for flights.

The Citi Premier is also packed with perks, including Priority Pass airport lounge access, complimentary insurance and a concierge. Considering these benefits, the $150 annual fee you pay in the first year is very competitive. After the first year, you can continue to pay a $150 annual fee if you spend at least $48,000 on purchases or cash advances in a year, which works out to $4,000 a month. If you don't spend that much, a higher $300 annual fee applies – so check how much you usually spend when you're comparing this card to other options.

How to apply

You can apply for the Citi Premier Credit Card online in 15 minutes and should receive a response within 60 seconds. Before you get started, make sure to check the eligibility requirements and organise the necessary information to complete the application.

Eligibility criteria

New cardholder. The bonus points offer is only available to new Citi customers.
Minimum income. Applicants must earn a minimum of $75,000 per year.

Residency. You must be an Australia citizen or permanent resident.
Credit history. You must have a good credit history with no evidence of defaults or bankruptcy to receive approval. You can get a free copy of your comprehensive credit report and score through Finder.
Age. You must be at least 18 years old to apply.
Eligible balance transfer debt. If you plan to take advantage of the balance transfer offer. You can transfer up to 80% of your credit limit from cards and personal loans not issued by Citi.

Required documents

Personal information. You’ll need to provide your full name, age, address and contact details.
Proof of identity. You'll need to confirm your identity with your Australian driver's licence, passport, Medicare card or birth certificate.
Income. You’ll be asked to include tax forms or current pay slips to confirm your current income.
Employment. This will include the name of your employer, your role and your employer's contact details.
Balance transfer information. If you want to transfer a balance to this card, you will need to provide the details of that account(s).

Card benefits

130,000 bonus Citi reward Points. You'll collect the bonus points when you apply for the Citi Premier card by 28 April 2022 and spend $4,000 on eligible purchases in the first 90 days from card approval. Eligible purchases cover most everyday transactions, including retail and supermarket shopping, food, coffee and fuel. Transactions that won't count towards the bonus points include cash advances, balance transfers, refunds and spending on a linked Diners Club card. The bonus points will be credited to your Citi Rewards Balance within 6-8 weeks of meeting the spend criteria.
Rewards program. You'll earn 2 points per $1 on eligible purchases made online in Australia or overseas, 2 points per $1 for eligible international spending and 1 point per $1 all other eligible spending in Australia. This means you'll earn points for most of your purchases, with an annual points cap of 200,000 points. But you won't earn points for transactions including cash advances, balance transfers, BPAY payments, transactions made when you're operating a business and government charges (including payments to the Australian Taxation Office).

Citi PayAll. You can earn 1 point per $1 spent with no points cap when you use Citi PayAll to pay your bills, including rent, property management fees and taxes. This service lets you use your Citi credit card to transfer funds to an Australian bank account, with the option to set up single or regular payments through the Citi Mobile App or online.
Complimentary Priority Pass Membership and 2 airport lounge visits per year. This card offers complimentary Priority Pass standard membership, with 2 airport lounge visits per year. Priority Pass gives you access to over 1,300 airport lounges worldwide. Within Australia, the Priority Pass is currently available at Adelaide, Canberra, Darwin, Brisbane International Airports, Sydney Kingsford Smith, Gold Coast Coolangatta and Melbourne. Learn more about the terms and conditions.
Complimentary travel insurance. Use your Citi Premier credit card to pay for eligible travel bookings and you can save on insurance costs with complimentary International Travel Insurance, Transit Accident Insurance and Interstate Flight Inconvenience Insurance. As with any insurance policy, make sure you read the terms and conditions (available via Citi) for full details so you can decide if it will give you enough cover for your travel plans.
Purchase cover. Items bought with your Citi Premier credit card are also protected by a complimentary Purchase Cover Insurance, Extended Warranty Insurance and a guaranteed pricing scheme.
Linked Diners Club Card. Citi Premier cardholders can also apply for a Linked Diners Club Card (LDCC) to take advantage of higher points earn rates. This card comes at no extra cost and offers 2 points per $1 spent on eligible purchases. Please note that separate Diners Club eligibility requirements and rewards terms and conditions apply for this card.
Complimentary mobile phone insurance. Use the Citi Premier Card or linked Diners Club Card to pay your monthly mobile plan and you'll get cover for accidental damage that affects the way your smartphone is supposed to work. You also get cover for theft when it's unavoidable. This complimentary insurance is underwritten by AIG Insurance and, as with any policy, it's a good idea to check the policy document for full details of what's covered and how to make a claim.
Mastercard benefits. With Mastercard Priceless Cities, you'll get access to exclusive entertainment, dining, travel and other lifestyle experiences in more than 40 cities around the world.
Mobile payment technology. With the Samsung Pay and Apple Pay smartphone apps, you can now easily make payments by tapping your phone or smart device at the contactless terminal.

Rates & fees

Annual fee. This card has a $150 annual fee in the first year and in future years if you spend $48,000 on eligible purchases or cash advances within that year. Otherwise, the annual fee is $300.
Interest rates. The purchase rate on this card is 21.49% p.a. and the cash advance rate is 22.24% p.a. (variable).

Balance transfer. Take advantage of 0% interest on balance transfers for 6 months with no balance transfer fee. At the end of the introductory period, the interest rate reverts to the variable cash advance rate, currently at 22.24% p.a. Note that any purchases you make won't be eligible for interest-free days when you have a balance transfer debt.
Interest-free days. The Citi Premier credit card offers up to 55 days interest-free on purchases, when you pay the balance in full by the due date on each statement. Please note that interest-free days do not apply while you are carrying a balance transfer debt.
Foreign transaction fees. If you use your Citi Premier Card to make a foreign transaction, the standard 3.4% international transaction fee will apply. If you use your Linked Diners Club Card to make a transaction in an overseas currency, the foreign transaction fee will be waived.
Additional cardholders. You can get up to 4 additional cardholders over the age of 16 for no extra cost. Note that you'll be responsible for managing the account and all charges that are added to it.

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70 Comments

Gary
January 9, 2019

What is the conversion rate if I would like to convert the Citi rewards point to Kris Flyer?

finder Customer Care

Jhez
January 11, 2019

Hello Gary,

Thank you for your comment.

The conversion is 1 Citi Mile to 1 KrisFlyer Mile (or 5 Citi Points to 2 KrisFlyer Miles).

Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

Regards,
Jhezelyn

Robert
June 18, 2017

How many Qantas points do I get for each Citi Reward Point? Do the rewards points change per $ spent after 30 June 17? Is there an international transaction fee for overseas purchases? I already have a Citibank Visa debit card – does this effect me in any way?

Jonathan
June 18, 2017

Hi Robert!

Your existing Citi Reward Points cannot be converted to Qantas. Qantas Points are earned in accordance with the Citibank Qantas Rewards Program and you need to contact them to switch you over.

Qantas point per dollar is:
1.5 point for all eligible International Spend;
1.5 point for selected domestic purchases made and booked directly from a range of major: restaurants and restaurant chains, hotel chains and airlines (flights only);
1 point for selected domestic purchases made at major: petrol outlets, supermarkets, and national retailers;
0.5 point everywhere else on domestic eligible transactions

As for the changes this year, we have a full list of how every Australian bank will change its rewards program for your guidance.

Hope this helps.

Cheers,
Jonathan

Lorraine
October 5, 2016

We are planning a 5 day (round trip) cruise from Fremantle WA and have paid for it on our Citibank signature card. Are we covered for complimentary travel insurance?

finder Customer Care

May
October 6, 2016

Hi Lorraine,

Thank you for your question.

Just to confirm, are you travelling outside of Australia? If so, with your Citi Signature Rewards Credit Card, you are covered for international travel insurance at no cost to you. Please feel free to read our Citibank complimentary insurance guide where you can find more details about the complimentary travel insurance attached to your Citi Signature Rewards Credit Card.

Hope this has helped.

Cheers,
May

Bernard
August 17, 2016

I am currently a citibank rewards cardholder – Can I apply for the signature card?

Chester
August 17, 2016

Hello Bernard,

Thanks for your question.

Yes you may as long as you meet the specific criteria set by the credit card issuer. Please note that you must have an annual income of $75,000 and your credit rating must be in good standing.

Required documents are:

Required documents

* Personal information. Your name, age, address, and contact details will be necessary to complete the application.
* Employment. Have your employer’s contact information ready.
* Income. Using tax forms or your current pay slips, you will need to disclose your current income.
* Proof of identity. Identifying documents include an Australian driver’s licence, passport, Medicare card or birth certificate.

You may also feel free to contact Citibank for more info.

I hope this helps

Cheers!
Chester

Trudy
August 9, 2016

Can the points be used for airlines affiliated with Qantas such as Emirates?

Ron
October 6, 2016

Why does the Qantas signature Card program Cost an extra $49 to sign up to (is this payable if you are already a Qantas FF member). Also if the conversion rate for the Citi Signature card to Qantas FF is 1:1, why is the bonus point sign on to Citi Qantas signature Card only 50,000 points instead of the 75,000 for the Citi Signature Rewards Credit Card.

finder Customer Care

May
November 4, 2016

Hi Ron,

Thank you for your question.

Just to confirm though that the Citi Qantas Signature Credit Card is different from the Citi Signature Rewards Credit Card so the rewards system and features of the two also vary.

With Citi Qantas Signature Credit Card, you really have to pay an additional annual fee of $49 to opt-in to the Citi Qantas Rewards program.

Once you are opt-in to the Qantas Rewards Program, you will earn 1 Qantas Point for every $1 spent on eligible purchases. Furthermore, the bonus points for Citi Qantas Signature Credit Card are only 50,000 bonus points, the 75,000 bonus points are only applicable to the Citi Signature Rewards Credit Card, not to the Citi Qantas Signature Credit Card.

Hope this has answered your question.

Cheers,
May

finder Customer Care

May
August 9, 2016

Hi Trudy,

Thanks for your inquiry.

Yes, Emirates airlines is a partner of Qantas and you can redeem for flights with Emirates using your Qantas points.

Cheers,
May

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