Citi Premier credit card

Our verdict: Citi’s Premier credit card offers you enough bonus points to get $450 worth of digital gift cards – which more than offsets the annual fee.

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. If you apply by 29 July 2021, you’ll get 130,000 bonus Citi Rewards points when you spend $4,000 on eligible purchases in the first 90 days from approval. Plus, a $150 annual fee in the first year.

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130,000

Bonus points

21.49% p.a.

Purchase rate

1

Reward point

Per $ spent

$150 p.a.

Annual fee

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

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Details

Product NameCiti Premier Card
Rewards programCiti Rewards Program
Balance transfer rate0% p.a. for 6 months
Balance transfer revert rateCash Advance Rate (22.24% p.a.)
Balance transfer limit80% of available limit
Purchase rate21.49% p.a.
Annual fee$150 annual fee for the first year ($300 p.a. thereafter)
Interest-free periodUp to 55 days on purchases
Cash advance rate22.24% p.a.
Min credit limit$15,000
Max credit limit$100,000
Card typeMastercard
Foreign currency conversion fee3.4%
Minimum income$75,000
Available to temporary residentsNo
Joint applicationNo

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 programCiti Rewards Program
Bonus points130,000
Rewards points per $ spent1
Rewards points cap200
Annual fee$150 annual fee for the first year ($300 p.a. thereafter)
Minimum monthly repayment2% of the closing balance or $30, whichever is greater
Late payment fee$30
Foreign currency conversion fee3.4%
Cash advance fee3.5% or $3.50, whichever is greater
Overseas cash advance fee5%
Additional cardholder fee$0
Number of additional cardholders4
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Review by


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.

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.

Card benefits

  • 130,000 bonus Citi reward Points. You'll collect the bonus points when you apply for the Citi Premier by 29 July 2021 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).

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).

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70 Comments

    Default Gravatar
    Gary
    January 9, 2019

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

      Avatarfinder 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

    Default Gravatar
    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?

      Default Gravatar
      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

    Default Gravatar
    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?

      Avatarfinder 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

    Default Gravatar
    Bernard
    August 17, 2016

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

      Default Gravatar
      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

      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

    Default Gravatar
    Trudy
    August 9, 2016

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

      Default Gravatar
      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.

      Avatarfinder 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

      Avatarfinder 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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