Citi Prestige Card Review – Rates and Details

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Designed for big spenders, receive 150,000 bonus points, a free hotel stay and unlimited airport lounge access with the Citi Prestige.

The Citi Prestige Card is an ultra-premium card which provides cardholders luxurious lifestyle opportunities. With the Citi Rewards Program, you can redeem rewards Points for travel, gift cards, cashback, merchandise and more, or transfer them to a selection of frequent flyer programs. You will receive a complimentary one-way airport transfer to or from selected airports twice per year in the Asia Pacific. Plus enjoy unlimited airport lounge access for you and a guest with a complimentary Priority Pass.

The card charges a $700 annual fee and has a minimum income requirement of $150,000 p.a. New cardholders will receive 150,000 bonus points when they apply and spend $3,000 in the first 90 days of card approval. If you're looking for a card with bonus points, perks and a lower annual fee, consider the Citi Platinum Card.

Product NameCiti Prestige Card
Rewards ProgramCiti Rewards Program
Balance transfer rate (p.a.)0% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)20.99% p.a.
Annual fee$700 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 44 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$30,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$100,000
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.4% of transaction value
Complimentary Travel InsuranceYes
Minimum Income$150,000
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationNo
Annual fee$700 p.a.
Minimum Monthly Repayment2% or $30 (whichever is greater)
Late Payment Fee$10
Cash Advance Fee3.5% of transaction amount or $3.50
Overseas Cash Advance Fee$5
Foreign Currency Conversion Fee
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You'll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.4%
of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0
Number of Additional Cardholders4

Pros

  • Receive 150,000 bonus points when spend $3,000 on your card within the first 90 days of card approval.
  • Enjoy 0% p.a. balance transfer rate for the first 6 months (reverts to the cash advance rate thereafter).
  • Earn up to 3 reward Points per $1 spent on eligible purchases with the Citi Rewards Program (see full earn rates below).

Cons

  • You have to pay an additional $49 to earn Qantas Frequent Flyer points.
  • If you pay your account in full every month, you can only enjoy up to 44 days interest-free on purchases as opposed to most cards that offer up to 55 days.
Rewards ProgramCiti Rewards Program
Bonus Points150,000 bonus points
Rewards Points per $ spent (VISA/MC)3
Rewards Points per $ (VISA/MC) CapUncapped

Citi Prestige Card review

The Citi Prestige Card is a premium card which provides cardholders with extra features to get more value when paying on plastic. Designed with travellers in mind, the card offers comprehensive international travel insurance and transit accident insurance, complimentary hotel stays and unlimited airport lounge access.

This card provides competitive benefits in the category of ultra-premium credit cards. The reward programs provide an earning rate of up to 3 points for every $1 spent on eligible domestic spend. The travel options include multiple airline partners, Qantas Frequent Flyer points, flight upgrades, free flights, hotel stays and more.

However, with the very high price tag of $700 p.a., the Citi Prestige is designed for customers who spend enough on credit to take full advantage of these perks. The minimum income requirement is $150,000 per year to apply for this card.

Benefits of the Citi Prestige Card

  • Bonus Points. Cardholders will receive 150,000 bonus rewards Points when they apply and spend $3,000 within 90 days from card approval. 150,000 bonus Points are worth 75,000 Velocity Points.
  • Reward program. You can earn 3 Points per $1 spent for all eligible international spend, 3 Points per $1 spent for 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 everywhere else on domestic eligible transactions. Points can be redeemed for travel, gift cards, cashback, merchandise or transferred to select frequent flyer programs.
  • Qantas Frequent Flyer points. This card can also be used to earn Qantas Points at a rate of 1.5 points per $1 on eligible international spend and select domestic purchases, 1 point per $1 spent at select major supermarkets, petrol outlets and national retailers and 0.5 points per $1 on eligible domestic transactions elsewhere. An additional fee of $49 p.a. is charged for this benefit.
  • Airport transfer service. Receive a complimentary one-way airport transfer to or from select airports twice per year in the Asia Pacific.
  • Exclusive benefits. Tee off around the world with three complimentary green fees at participating golf clubs each year. You will also enjoy exclusive access to events in Australia before they’re released to the general public with Visa Front Line Access.
  • Priority Pass. Enjoy unlimited airport lounge access for you and a guest with a complimentary Priority Pass. Priority Pass is currently available at Cairns, Darwin and Brisbane International Airports and Sydney Kingsford Smith. Find out more about the terms and conditions
  • Complimentary hotel stay. Cardholders get one complimentary night stay per year at of the premium partner hotels.
  • Mobile payment technology. You can make contactless payments using your qualifying device once you enable Samsung Pay or Apple Pay, whichever's applicable to you.

Citi Prestige Card features

  • Annual fee. This card has an annual fee of $700.
  • Balance transfer. Customers will receive 0% p.a. for 6 months on balance transfers (reverts to cash advance rate).
  • Additional card. You can add up to 4 supplementary cards without any extra fees.
  • High credit limit. This card has a very high credit limit of $100,000. This can cover almost any purchases which we make on a day-to-day basis.

How to apply for Citi Prestige Card

If you’re interested in applying for the Citi Prestige Card, just complete online application form. Customers who currently hold a Citi Select card will be reissued with a new Citi Prestige Card, so there is no need to apply. Before applying, make sure that you meet the following eligibility requirements

Eligibility criteria

  • You must be at least 18 years of age.
  • You must have good credit rating.
  • You must be a permanent resident of Australia or a recent permanent Australian resident (within 12 months).
  • You must have a minimum income of $150,000 p.a.

Required documents

  • Details about your employment which includes employment status, primary occupation and employer’s contact details
  • If the applicant is self-employed they need to provide accountant’s name, name of the accounting firm and contact phone number
  • For balance transfers, further details about the current account are also needed

Frequently asked questions

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Credit Cards Comparison

Rates last updated July 15th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
Westpac Low Rate Card
13.49% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
NAB Low Fee Platinum Card - Exclusive Amazon Offer
19.74% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$90 p.a.
finder Exclusive: Take advantage of 10% cashback with amazon.com.au for 12 months (capped at $25 per month).
American Express Westpac Altitude Platinum Bundle - Exclusive Offer
20.24% p.a.
$0 p.a. annual fee for the first year ($199 p.a. thereafter)
$0 first year annual fee & up to 90,000 bonus Altitude Pts when you meet T&C with this Visa (issued by Westpac) & Amex (issued & serviced by Amex).
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
20.74% p.a.
0% p.a. for 18 months
$99 p.a. annual fee for the first year ($129 p.a. thereafter)
finder Exclusive: Receive a long 18-month, 0% p.a., no fee balance transfer and earn Suncorp Rewards Points or Qantas Points per $1 spent.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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