Balance Transfer Rate
for 6 months then 22.24%
Max Free Days
- Balance Transfers Available
- Free domestic travel insurance
- Free international travel insurance
- Free supplementary cards
- Purchase protection insurance
- Price guarantee
- Extended warranty
- Special events
- Partner discounts
- Airport lounge
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Balance Transfer Rate
Balance Transfer Rate
for 6 months then 22.24%
of the approved credit limit
Balance Transfer Fee
Foreign Exchange Fee
Estimated ATM Cost
Citi Rewards Program
Gift Card, Cash Back
|3 points for $1 spent||Mastercard||uncapped||eligible international transactions|
|3 points for $1 spent||Mastercard||uncapped||selected purchases from major: restaurants, hotels and airlines (flights only)|
|2 points for $1 spent||Mastercard||uncapped||selected purchases at major: petrol outlets, supermarkets and national retailers|
|1 point for $1 spent||Mastercard||uncapped||all other eligible transactions|
- FREE DOMESTIC TRAVEL INSURANCE Cover lasts for 14 days for domestic travel
- FREE INTERNATIONAL TRAVEL INSURANCE Available when you use your Card to pay for return international travel
- FREE SUPPLEMENTARY CARDS
- PURCHASE PROTECTION INSURANCE Covers up to $10,000 per item and $200,000 per year
- PRICE GUARANTEE If you purchase personal goods in Australia and then find the same product advertised later at a cheaper price within 60 days of purchase, from a store within 25km of the store where the item was purchased, you can claim back the difference if it is less than $500.
- EXTENDED WARRANTY
- SPECIAL EVENTS Each event will be subject to separate terms and conditions
- PARTNER DISCOUNTS
- AIRPORT LOUNGE Priority Pass membership with unlimited Priority Pass lounge access for you and a guest
Receive a complimentary bottle of wine every time you dine at a partner restaurant and pay with your Citi card.
Late Payment Fee of $30 each time we do not receive the Minimum Payment Due and any Overdue Amount by the payment due date, debited to your Account after the payment due date. The Minimum Payment Due, any Overdue Amount, and payment due date are detailed on your statement of account.
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Citibank Australia (Citi) is part of one of the world’s largest financial services organisations, Citigroup. Citigroup has a presence in over 100 countries and has been providing consumer finance to Australians since 1985.
The group’s culmination of global experience enables them to offer some of the world’s most innovative financial services including foreign currency deposits, credit cards, home loans, savings accounts, term deposits, insurance and transaction accounts.
Their customer services also extend to corporate, institutions and governments. Diners Club, Citi Smith Barney, Citi Investment Research and The Citi Private Bank are all esteemed brands operating under the Citi Australia umbrella.
Citi customers can reach customer support by contacting them via:
- Customer service (phone, email, branch)
- Mobile app
- Online banking
- Mobile banking staff
The Citi Prestige Mastercard card offers 150,000 bonus Points when you spend $5000 in the first 90 days from approval.
You can also earn up to 3 Points per dollar on eligible spending with major restaurants, hotel chains and airlines (flights only), which can be redeemed for travel, gift cards, cash back and merchandise.
You can have up to four additional cardholders for $0 with the Citi Prestige card, although each person needs to be at least 16 years old.
The credit card has Mastercard contactless for payments under $100, as well as Apple Pay and Samsung Pay for all purchases.
A range of other benefits are available to Citi Prestige Mastercard cardholders, including access to a personal concierge and exclusive tickets.
- One Complimentary Airport Transfer in selected cities in Australia up to $100
- Unlimited Priority Pass lounge access for you and a guest
- Uncapped earn rates
- Save with 0% p.a. for 6 months on balance transfers (reverts to cash advance rate). Please note, no interest-free days apply to retail purchases while you have a balance transfer.
- High annual fee
- High interest rate
- High overseas spending fee
Who is it good for?
The Citi Prestige card may be best suited to high income earners. To be eligible for the card you must earn more than $150,000 a year.
If you’re wanting a credit card with a high credit limit, there is provision for a limit of up to $100,000.
If you’re a frequent flyer, this credit card has many travel features that may appeal, and a rewards system that is compatible with a range of airline and hotel partners.
The credit card also gives one complimentary airport transfer in selected cities in Australia, capped at $100.
Unlimited complimentary lounge visits are for the primary cardholder only, who is allowed one guest per visit.
What RateCity says
The Citi Prestige card is a premium product with a premium price tag. For income earners with an annual salary above $150,000, it offers a wide range of benefits.
In addition to the rewards program, which gives cardholders uncapped earning potential, travel and entertainment perks make up the bulk of the card’s features.
The Complimentary International Travel Insurances offered by the card are similar to other credit card products in this category.
The Citi Prestige card qualifies you for membership in the Citibank Dining Program, where you receive a free bottle of wine when you dine at selected partner restaurants.
To be eligible for the Citi Prestige card you must be 18 years or older and an Australian resident. You must earn more than $150,000 a year and have a good credit rating. To apply you need to provide details of your employment, including evidence of gross income and monthly expenses. You also need to supply your driver's licence and a current Australian passport (if you have an overseas passport you must provide a copy of your visa).
Citi, founded in 1812 as the City Bank of New York, is the consumer division of financial services multinational Citigroup. Citi commenced consumer operations in Australia in 1985 and was the first foreign bank to be granted a banking licence. Citi is the largest international bank operating in Australia, and offers financial services including deposit accounts, foreign currency deposits and investments as well as credit cards, mortgages, insurance and charge cards.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
A credit card can be a useful financial tool, provided you understand the risks and can meet repayment obligations.
If you’re a credit card first-timer, review your options. Think about what kind of credit card would suit your lifestyle, and compare providers by fees, perks and repayments.
Once you’ve selected a card, it’s time to apply. Credit card applications can generally be completed in store, online or over the phone.
When you apply for a credit card for the first time, you must meet age, residency and income requirements. As proof, you must also provide documentation such as bank account statements.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card.
For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.
Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.
Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.
Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.
Think of credit cards as a short-term loan where you use the bank’s money to buy something up front and then pay for it later. Unlike a debit card which uses your own money to pay, a credit card essentially borrows the bank’s money to fund the purchase. When you apply for a credit card, the bank assesses your income and assigns you a credit limit based on what you can afford to pay back. At the end of each billing cycle, which is usually monthly, the bank will send you a statement showing the minimum amount you have to pay back, including any interest payable on the balance.
Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.
Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.
Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.
Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.
Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.