The Citi Prestige credit card with Qantas Rewards has a high annual fee, high interest rates and a moderately low number of interest-free days. The card also offers a high credit limit and a low late or missed payment fee.
This card can be used to earn Qantas Points on eligible transactions. The Citi Prestige receives 1.5 Qantas Points per $1 spend on all eligible international spend, as well as 1.5 Qantas Points for selected domestic purchases, such as restaurants and hotels. Card holders will also earn 1 Qantas Point per $1 spent on domestic purchases made at major supermarkets, national retailers and petrol stations. All other domestic eligible transactions will earn 0.5 Points per $1 spent. Opting into the Citi Qantas Rewards program will incur an additional annual fee.
- Four free additional cardholders
- Earns Qantas Points
- Complimentary travel insurance
- High annual fee
- Charges foreign transaction fees
- High interest rates
Who is it good for?
The Citi Prestige credit card with Qantas Rewards is best for high spenders looking to make the most of their Qantas Frequent Flyer membership. The card earns Qantas Points on both domestic and international purchases, allowing card holders to build their earnings and upgrade their Qantas status.
The Citi Prestige with Qantas Rewards has a high annual fee that may deter budget card holders. This card also charges an additional annual fee for the reward program. Customers who wish to minimise fees but maximise rewards would be better off with a credit card that charges no annual fee but offers a flexible reward scheme.
It’s important to note that because of the high interest rates, this card is suited to those who are confident about paying their bill in full every month.
What RateCity says
The Citi Prestige credit card may be a practical choice for customers who prioritise frequent flyer rewards. The card has a reasonable earn rate at 1.5 Qantas Points for select international and domestic purchases, as well as 1 Qantas Point per $1 spent at major retailers within Australia and 0.5 Points for every $1 spent on all other eligible domestic purchases. With this earn rate, card holders who spend high amounts on their Citi Prestige card will be able to collect a reasonably high number of Qantas Points per year.
However, the card charges a high annual fee that would not suit many potential card holders. There’s also an additional annual fee when you opt into Citi Qantas Rewards. If you want to earn Qantas Points but don’t want to pay high fees, there are credit cards with lower annual costs that offer a Qantas reward scheme.
Eligible applicants for the Citi Prestige credit card will be at least 18 years old and an Australian citizen or resident. You also must earn more than $150,000 per year. Citi offers a secure online application that takes only 15 minutes to complete. The application requires certain personal and financial information, including details about your employment and your accountant’s name and phone number if you are self-employed. You’ll also need to know your gross income and monthly expenses.
Citibank operates as a part of Citigroup, a leading financial services organisation. Citibank has provided financial services in Australia for over five decades and in 1985 was the first foreign bank to be granted a banking licence. Citibank is also the largest international bank in the country. While Citi is known for their credit cards, they also offer financial products such as home and personal loans, travel and credit card insurance, wealth management and bank accounts.