The Citi Signature Rewards card lets you earn up to 120,000 bonus points when you spend $4000 in the first 90 days from approval.
This card is associated with the Citi Rewards program, through which cardholders can earn points for eligible purchases. Points can be used on rewards like travel, gift cards, cashback, merchandise and more. Points can also be transferred to frequent flyer programs, including Virgin Australia Velocity and Singapore Airlines KrisFlyer.
There is a range of complimentary insurances included with this card, such as international travel insurance, interstate flight inconvenience insurance, purchase insurance and extended warranty insurance.
Additionally, cardholders receive a complimentary Priority Pass membership with two airport lounge visits per year and a free bottle of wine when dining at participating restaurants.
You can also apply for a Linked Diners Club Card and earn 10,000 bonus points when you make your first spend on this card. You’ll also earn an uncapped 2 points per dollar on eligible spending using this card.
The Citi Signature Rewards card features a high interest rate and a moderate number of interest-free days. It also has a moderately high minimum credit limit. Its moderately high annual fee reverts to a high annual fee after the first year.
- Citi Rewards program
- Complimentary insurances
- Four free additional cardholders
- High interest rate
- Moderately high annual fee
- High international spending fee
Who is it good for?
This card may be a good choice for people who spend frequently on their credit card and want the flexibility of a rewards program that offers both frequent flyer mileage and other rewards such as gift cards and merchandise.
The introductory 0 per cent balance transfer rate for 15 months with a 1% balance transfer fee on the Citi Signature Rewards card might also make this credit card appropriate for people looking to switch credit cards or transfer debt and pay it off interest-free.
Because this card comes with a high interest rate and a moderately high annual fee, it’s probably not the best option for those on a tight budget or people who aren’t always able to clear their balance every month.
The high international spending fees also mean it’s not the most cost-effective method of spending while travelling abroad.
What RateCity says
The Citi Signature Rewards card offers rewards-earning potential that is likely to appeal to a wide customer base. The 0% balance transfer deal for 15 months with a 1% balance transfer fee is also an added incentive if you’re thinking about making the switch.
While this card does have a high interest rate and a moderately high annual fee – which is typical of a rewards card – it also comes with additional benefits like limited airport lounge passes and a personal concierge service. The complimentary insurance coverage is also quite comprehensive in comparison to similar cards on the market.
However, the risk of accruing debt is increased with all high-rate cards – so it’s worth considering if you would be able to pay off your balance at the end of each bill cycle. If not, you might be better off doing some further research to see if you can find a card that offers better value for money.
To be eligible for the Citi Signature Rewards card, you need to be at least 18 years old, an Australian permanent resident and earn more than $75,000 a year. To apply, you will need to provide proof of identification and information about your work and finances (such as payslips and bank statements). Applications can be filled in online or at a Citi branch, and typically take around 15 minutes to complete.
Citibank Australia (Citi) is part of Citigroup, a major financial services organisation based in New York 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. Citi customers manage their banking in-branch, online, via phone or through the Citi Mobile app. Round-the-clock customer service is available via phone and online.
To earn 120,000 bonus Citi rewards Points, you must apply for a Citi Rewards Signature Credit Card by 31 January 2020, then spend $4,000 on your Citi Rewards Signature Credit Card within 90 days of approval. Cash Advances, Balance Transfers, Refunds, Chargebacks, Special Promotions and spend on a Linked Diners Club Card do not contribute to the spend threshold. The bonus Citi rewards Points will be credited within 6 - 8 weeks of meeting the spend criteria. All rewards are subject to the Terms and Conditions of the Citibank Rewards Program. Points do not expire while the card remains open and in good standing. Please note that if you have a balance transfer, you will be charged interest on any spend that you make. This offer is valid until 31 January 2020. Post this advertised date; Citi reserves the right to continue, withdraw or change the offer at any time without notice.
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 3. 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. Please click here for the full definition of Eligible Transactions. 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 transact using your Citi Credit Card, an International Transaction Fee will be charged (where applicable).