Electronic Wallet Service
|1 point for $1 spent||Visa||uncapped||selected purchases from major restaurants, hotels and airlines|
|0.75 points for $1 spent||Visa||uncapped||selected purchases at major petrol outlets, supermarkets and national retailers|
|0.5 points for $1 spent||Visa||Up to $20,000 monthly||all other eligible transactions|
- Free International Travel Insurance Available when you use your Card to pay for return international travel
- Free Supplementary Cards
- Purchase Protection 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 standard membership with up to two entries per year into Priority Pass lounges
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The Citi Qantas Signature credit card comes with a high interest rate and a high annual fee (although the fee is lower in the first year). It also has a moderate interest-free period and a moderately high minimum credit limit.
This card offers customers the potential to earn points for spending as part of the Qantas Frequent Flyer program. Earned points can be redeemed for rewards such as flights, upgrades and gift cards with Qantas and their partner airlines. Cardholders also receive a complimentary Priority Pass membership with two airport lounge visits per year.
Complimentary insurance offered with this card includes international travel insurance, interstate flight inconvenience insurance, purchase insurance and extended warranty insurance, among others.
Additionally, this card comes with an introductory 0 per cent balance transfer deal. Four supplementary cards are also allowed at no additional cost.
- Qantas Frequent Flyer program
- Complimentary insurances
- Four free additional cardholders
- High interest rate
- High annual fee
- High overseas spending fee
Who is it good for?
The Citi Qantas Signature card is appropriate for customers who travel a lot and have the ability to pay their card balance in full each month. Consistent spending on the card (especially with multiple cardholders) offers the potential to save money long-term by redeeming valuable rewards.
The Citi Qantas Signature card could also be suitable for people wanting to consolidate existing debt, although there are other cards available that offer a balance transfer deal for a longer period.
Conversely, those who struggle to pay off debt likely wouldn’t be a good fit for this card due to its high interest rate and fees – which increase the likelihood of accruing further debt. This card’s high overseas transaction fees also mean it’s not ideal for use while travelling or to make international purchases online.
What RateCity says
The Citi Qantas Signature card features all the standard benefits you might expect from a Qantas Frequent Flyer credit card – including the ability to earn points for spending and a range of complimentary insurances. However, it also comes with additional incentives such as limited airport lounge passes, a personal concierge service and a free bottle of wine when dining at participating restaurants.
And, unlike some other comparable rewards cards, it also comes with a balance transfer deal – which could be a drawcard for people looking to make the switch.
However, with a high interest rate and annual fee, there is a risk of building debt quickly with this card. As such, it’s important to consider if this is the right card for your circumstances and if you can afford to pay off your balance entirely at the end of each bill cycle.
To be eligible for the Citi Qantas Signature card, you must be at least 18 years old, an Australian permanent resident and earn at least $75,000 a year. You also need to be a Qantas Frequent Flyer member (you can sign up at the Qantas Frequent Flyer website). When applying, you will need to provide proof of ID and details about your work and finances (such as payslips and bank statements). Applications can be completed online or in-branch.
Citibank Australia is a subsidiary of Citigroup, one of the world’s largest financial services groups, headquartered in New York and with offices in over 100 countries. Citibank provides personal finance products such as credit cards, home loans, personal loans, savings accounts and bank accounts, as well as business, corporate and government finance products. Customers can take care of their banking in-branch, online, via phone or through the Citi Mobile app. Twenty-four-hour customer service is available via phone and online.
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