Citi Prestige Card
Get rewarded with 200,000 bonus Points, hotel perks and unlimited airport lounge access with this ultra-premium credit card.
The Citi Prestige is a top-tier rewards card suited to frequent travellers and big spenders. When you apply by 31 January 2022 and spend $7,500 in the first 60 days, you will score 200,000 bonus Citi reward Points. You can also save with an introductory 0% p.a. balance transfer for the first 6 months with no balance transfer fee.
Per $ spent
|Product Name||Citi Prestige Card|
|Rewards program||Citi Rewards Program|
|Balance transfer rate||0% p.a. for 6 months|
|Balance transfer revert rate||Cash Advance Rate (22.24% p.a.)|
|Balance transfer limit||80% of available limit|
|Purchase rate||21.49% p.a.|
|Interest-free period||Up to 44 days on purchases|
|Cash advance rate||22.24% p.a.|
|Min credit limit||$30,000|
|Max credit limit||$100,000|
|Foreign currency conversion fee||3.4%|
|Available to temporary residents||No|
- 200,000 bonus points when you spend $7,500 in the first 60 days
- 0% p.a. for 6 months on balance transfers with no balance transfer fee
- Unlimited access to over 1,300 airport lounges through Priority Pass
- Airport transfer service and 4th night free hotel promotion
- The $700 annual fee and 21.49% p.a. purchase interest rate are very high, even for a premium card.
- There are only 44 days interest-free on purchases as opposed to most cards that offer up to 55 days.
|Rewards program||Citi Rewards Program|
|Rewards points per $ spent||1|
|Minimum monthly repayment||2% of the closing balance or $30, whichever is greater|
|Late payment fee||$30|
|Foreign currency conversion fee||3.4%|
|Cash advance fee||3.5% or $3.50, whichever is greater|
|Overseas cash advance fee||$5|
|Additional cardholder fee||$0|
|Number of additional cardholders||4|
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.
How to apply
If you meet the eligibility requirements and have all your documents and details ready, you can apply for the Citi Prestige online in around 15 minutes.
- Minimum income. You must earn more than $150,000 per year to apply for this card.
- Residency. You must be an Australian citizen or permanent resident.
- Eligible balance transfer debt. If you plan to take advantage of the balance transfer offer, Citi allows you to transfer up to 80% of your available credit limit from accounts not issued by Citi.
- Age. You must be at least 18 years old to apply.
- Personal details. This includes your full name, email address, date of birth, marital status, number of dependents, residential address and contact number. You will also need to provide a valid form of ID, such as your driver's licence, passport or Medicare card details.
- Employment details. This covers your current job title, salary and your employer's contact details (or accountant's details if you're self-employed). You'll also need to provide supporting documents to verify your income, such as recent payslips or tax assessment notices from the ATO.
- Financial details. You'll need to provide details of any other forms of income, savings and other assets such as investment properties. You also need to share details about any existing liabilities or debts – including loans and credit cards – as well as estimates of your regular, household expenses.
- Balance transfer details. If you are going to transfer a balance to the Citi Prestige you will need to provide the details of the account(s) from which you're transferring.
- 200,000 bonus points. When you apply by 31 January 2022 and spend $7,500 in the first 60 days, you'll be rewarded with 200,000 bonus Citi reward Points. The bonus points will be credited to your account within 8 weeks of the spend requirement being met.
- Earn rates. The Citi Prestige earns 3 Points per $1 spent for all eligible international spend and selected domestic purchases made and booked directly from a range of major restaurants, hotel chains and airlines (flights only), 2 Points per $1 spent for selected domestic purchases made at major petrol outlets, supermarkets and national retailers and 1 Point per $1 spent on all other eligible domestic transactions.
- Rewards and frequent flyer options. You can transfer your points to a range of frequent flyer program partners, including Virgin Australia Velocity Frequent Flyer, Singapore Airlines KrisFlyer and Emirates Skywards. You can also redeem points for travel, gift cards, cashback or merchandise through the Citi Rewards Program.
- Balance transfer. Transfer an existing account balance to the Citi Prestige and save with 0% interest for the first 6 months (reverts to the cash advance rate after the introductory period).
- Priority Pass airport lounge access. Enjoy unlimited airport lounge access for you and a guest with a complimentary Priority Pass. You can relax pre-flight at over 1,300 lounges in more than 600 cities worldwide with this flexible membership. In Australia, you can get Priority Pass lounge access at Adelaide, Brisbane, Cairns, Coolangatta, Darwin, Melbourne and Sydney airports. Find out more about the terms and conditions.
- Fourth night free. When you book through the Citi Prestige Concierge at least 48 hours (but not more than 6 months) in advance and stay a minimum of four consecutive nights at available hotels, you can enjoy one night free. The value of the free night is calculated as the average nightly room rate for the four-night stay and does not include taxes or additional fees.
- Complimentary mobile phone insurance. Use the Citi Prestige Card or linked Diners Club Card to pay your monthly mobile plan and you'll get cover for accidental damage that affects the way your smartphone is supposed to work. You also get cover for theft when it's unavoidable. This complimentary insurance is underwritten by AIG Insurance and, as with any policy, it's a good idea to check the policy document for full details of what's covered and how to make a claim.
- Airport transfer service. Receive a complimentary, one-way airport transfer to or from select cities in Australia (up to a maximum of $100).
- Linked Diners Club Card. Citi Prestige cardholders can also apply for a Linked Diners Club Card (LDCC) to take advantage of higher points earn rates. This card comes at no extra cost and offers 2 points per $1 spent on eligible purchases. Please note that separate Diners Club eligibility requirements and rewards terms and conditions apply to this card.
- Mastercard benefits. With Mastercard Priceless Cities, you’ll get access to exclusive entertainment, dining, travel and other lifestyle experiences in more than 40 cities around the world.
- Mobile payment technology. You can make contactless payments using your qualifying device once you enable Samsung Pay or Apple Pay.
Rates & fees
- Annual fee. The perks of the Citi Prestige come at the cost of the $700 annual fee.
- Interest rates. This card charges a purchase rate of 21.49% p.a. and a cash advance rate of 22.24% p.a.
- Interest-free days. If you pay the full amount owed by the due date on each statement, you'll enjoy up to 44 days interest-free on purchases. Note that interest-free days aren't available if you carry debt from a balance transfer or for any cash advance transactions.
- Foreign transaction fees. If you use your Citi Prestige card to make a foreign transaction, the standard 3.4% fee will apply. If you use a Linked Diners Club Card, the foreign transaction fee will be waived.
- Balance transfer. You can transfer an existing account balance to the Citi Prestige and save with 0% interest for the first 6 months (reverts to the cash advance rate after the introductory period).
- Additional card. You can add up to 4 supplementary cards without any extra fees.