Citi Prestige Card

Last updated: 1 April 2020

Get rewarded with 100,000 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're approved as a new customer and spend $7,500 in the first 60 days, you will score 100,000 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.

Coming at the cost of a $700 annual fee and a 21.49% purchase interest rate, the Citi Prestige is packed with perks. In addition to the bonus points and balance transfer offer, you can reward yourself with hotel perks and unlimited airport lounge access with a complimentary Priority Pass membership.

100,000

Bonus points

21.49% p.a.

Purchase rate

Reward point

Per $ spent (Visa/Mastercard)

$700 p.a.

Annual fee

Details

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 balance
Purchase rate (p.a.)	21.49% p.a.
Annual fee	$700 p.a.
Interest free period	44 days
Cash advance rate (p.a.)	22.24% p.a.
Min credit limit	$30,000
Max credit limit	$100,000
Card type	Mastercard
Foreign currency conversion fee (Visa/Mastercard)	3.4%
Complimentary travel insurance	Yes

Minimum Income	$150,000
Minimum age	18 years of age
Available to temporary residents	No
Joint application	No

Pros

100,000 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

Cons

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
Bonus Points	100,000 bonus points
Rewards Points per $ spent (Visa/Mastercard)	1

Annual fee	$700 p.a.
Minimum monthly repayment	2% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee (Visa/Mastercard)	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

Expert review

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy is an editor and writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.

Expert review

The Citi Prestige card has one of the largest bonus points on the market. To give you an idea of the potential rewards, you could exchange 100,000 Points for 40,000 Velocity Points. This card also boasts unlimited airport lounge access at over 1,300 lounges through Priority Pass and your fourth night free at select hotels.

The Prestige is only available to applicants with a minimum annual income of $150,000 and comes at the cost of a $700 annual fee. If you're looking for a card with a lot of perks but without the weighty annual fee, you could consider the Citi Rewards Platinum card as well.

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.

Eligibility criteria

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.

Required documents

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.

Card benefits

100,000 bonus points. When you apply by 30 June 2020 and spend $7,500 in the first 60 days, you'll be rewarded with 100,000 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. 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).
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.
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.

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2 Comments

Lenny
September 4, 2018

Are you aware how the $150k income requirement is determined/assessed? If your household income meets that, would it be sufficient? Or does it need to be individually? If individually, if your recent fortnightly pay shows the correct amount say would that suffice?

Reply
- finder Customer Care
  
  Jhez
  September 4, 2018
  
  Hello Lenny,
  
  Thank you for your comment.
  
  Yes, Citi Prestige has set their income requirement to $150,000 p.a. Your income is an important eligibility requirement that the issuer will use to assess your ability to repay. You will have to provide information about your current income, spending habits and any existing debts to help the credit card issuer determine whether or not you can manage more credit.
  
  It is more likely to assess you individually, hence, better to lay all your possible income. You may want to check our article about income requirements to get more idea.
  
  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
  
  Reply

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