Citi Rewards Platinum Credit Card

Information verified correct on December 7th, 2016
Citi Rewards Platinum Card - Cashback Offer Find out more Go to site

Don't worry, by clicking "Go to site" this won't leave a mark on your credit file. An enquiry will only appear on your file once you have submitted a credit card application.

What happens when I click Go to site?
  • Clicking Go to site will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>

Save money with a reduced annual fee, a low balance transfer offer and a $250 cashback offer when you apply and get approved for the Citi Rewards Platinum Card.

The Citi Rewards Platinum Card lets you save on regular credit card costs while earning rewards points as you spend. With a reduced annual fee for the first year and a 0% p.a. balance transfer offer for 12 months, you can manage your debts for a portion of the regular cost.

This card also features a rewards program and complimentary insurance. Plus, if you apply and get approved, you can also enjoy a $250 cashback offer when you meet the spend requirement within 60 days of card approval.

Product NameCiti Rewards Platinum Card - Cashback Offer
Rewards ProgramCitibank Rewards Program
Balance transfer rate (p.a.)0% p.a. for 12 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.
Offer end date17 February 2017
Annual fee$99 p.a. annual fee for the first year ($199 p.a. thereafter)
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 55 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.
$6,000
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
Minimum Monthly Repayment2% or $30 whichever is greater
Minimum Income$35,000
Card TypeVisa
Late Payment Fee$10
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.
3.3% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover6 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$35,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
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.
$6,000
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
Annual Fee$99 p.a. annual fee for the first year ($199 p.a. thereafter)
Minimum Repayment2% or $30 whichever is greater
Late Payment Fee$10
Over Limit Fee$0
Cash Advance Fee3.5% of transaction amount
Overseas Cash Advance Fee$5
Overseas Emergency Replacement$0
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$5
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.
3.3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$90 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • This card allows you to enjoy a reduced annual fee of $99 on the first year, then a discounted $199 annual fee for the life of the card.
  • This card has balance transfer offer of 0% p.a. for 12 months.
  • This card comes with a personal budgeting tool that allows you to keep track of purchases and plan your spending.
  • The overseas reward points on this card are uncapped.
  • You can stay protected with a complimentary travel insurance.

Cons

  • Even for as platinum credit card, an annual fee of $199 is fairly high.
  • Additional card holders come at a cost of $90 each.
  • When the balance transfer period expires, the interest charged on any outstanding balance will be charged at the higher, cash advance rate of interest.
Rewards ProgramCitibank Rewards Program
Rewards Points per $ (VISA/MC)1.25
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) Cap10,000
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

Citi Rewards Platinum Credit Card review

The Citi Rewards Platinum Card could be a worthwhile option if you’re looking to save on costs while earning rewards as you spend. For the first year of the card, you can enjoy a 0% p.a. balance transfer offer and a reduced annual fee of $99 ($199 thereafter). You’ll also earn 1.25 Citi Rewards points per $1 spent on eligible purchases, which can be redeemed for rewards such as travel, merchandise and cash back. Plus, you can shop and travel with convenience thanks to complimentary international travel insurance and purchase cover insurance.

Benefits of the Citi Rewards Platinum Credit Card

Some of the benefits you can expect from this card include:

  • Cashback offer. Spend $250 on eligible payWave purchases within 60 days of card approval and you’ll receive $250 cash back. Offer ends 17 February 2017.
  • Reduced annual fee. You’ll be billed a $99 annual fee in the first year, then a discounted $199 annual fee for the life of the card. Please note that additional cardholders will be charged $90 per card.
  • Balance transfer offer. If you apply and are approved before 17 February 2017, you can consolidate your debts with a balance transfer offer of 0% p.a. for 12 months. This reverts to the standard cash advance rate of 21.74% p.a. at the end of the introductory offer.
  • Rewards program. You’ll earn 1.25 Citi Rewards points per $1 spent on eligible purchases in Australia (up to $150,000 per statement period) and 1.25 points per $1 spent on eligible purchases overseas (uncapped).
  • Complimentary travel insurance. When you use your card to purchase your overseas travel ticket, you and your eligible spouse and children can take advantage of complimentary travel insurance provided by Allianz.

Features of the Citi Rewards Platinum Credit Card

  • Interest rate. This card charges a 20.99% p.a. on purchases.
  • Interest-free days. If you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days.
  • Cash advance rate. Cash advances, such as ATM withdrawals, will collect an interest rate of 21.74% p.a.
  • Purchase cover insurance. Get coverage against theft, loss or damage for up to 90 days on eligible purchases made with your credit card.
  • Citi Dining Program. You’ll enjoy a free bottle of wine every time you dine at hundreds of participating restaurants with the Citibank Dining Program.
  • Samsung Pay. If you have a Samsung device, you can use your phone to make contactless payments of up to $100 with your mobile phone.

How to apply for the Citi Rewards Platinum Credit Card

If you’ve compared your options and decided you’d like to apply for the Citi Rewards Platinum Credit Card, you can apply for the card by clicking on the "Go to Site" button. Make sure you meet the following eligibility requirements and have the relevant documents on hand before you begin your application.

Application criteria

To apply for this card, you must:

  • Be 18 years of age or older
  • Have a good credit rating
  • Be an Australian citizen or recent permanent Australian resident (within 12 months)
  • Have an email address

Required information

Make sure you have the following information and documents handy before applying:

  • You have to provide your contact details, previous address, drivers licence.
  • You’ll need to provide proof of income and employment such as payslips. You’ll also be required to submit your employer’s details and accountant’s details if self-employed.
  • You have to provide proof of assets and liabilities.
  • For balance transfers, you’ll need to provide the name on the account, type of card/account, card/account number, amount being transferred and the issuing organisation's name and address.

The Citi Rewards Platinum Credit Card could be a suitable option for cardholders looking to consolidate their debts, earn rewards or save on card costs. As this isn’t the only platinum rewards card on the market, you can your options before you apply to make sure you find the right card for you.

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Credit Cards Comparison

Rates last updated December 7th, 2016
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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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