Citi Rewards Platinum Credit Card – Balance Transfer Offer

Take advantage of 0% interest on balance transfers for 26 months and a $0 annual fee in the first year with this Citi Rewards Platinum offer.

The Citi Rewards Platinum Credit Card offers a range of premium features, including dining perks, rewards that can also be converted to frequent flyer points and complimentary insurance covers. Apply for this card by 31 May 2019 to receive a 0% p.a. interest rate on balance transfers for the first 26 months with a 1.5% balance transfer fee and a $0 first year annual fee.

If you’re not in the market for a balance transfer and would prefer an introductory bonus points offer, check out Finder’s exclusive 100,000 bonus point offer.

Product NameCiti Rewards Platinum Credit Card - Balance Transfer Offer
Rewards ProgramCiti Rewards Program
Balance transfer rate0% p.a. for 26 months with 1.5% balance transfer fee
Balance transfer revert rate
The interest rate that will apply to any remaining balance after the balance transfer term 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 date31 May 2019
Annual fee$0 p.a. annual fee for the first year ($199 p.a. thereafter)
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure.
$6,000
Max credit limit
This is the maximum credit limit available on this card and you can apply for increases after the account has been opened. This credit limit may not be issued to you immediately upon application.
$100,000
Card TypeVisa
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa 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$35,000
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationNo
Annual fee$0 p.a. annual fee for the first year ($199 p.a. thereafter)
Minimum Monthly Repayment2% of the closing balance or $30, whichever is greater
Late Payment Fee$30
Foreign Currency Conversion Fee (VISA)
Charged when you make a transaction that is converted by Visa 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
Cash Advance Fee3.5% of transaction amount or $3.50
Overseas Cash Advance Fee$5
Gambling Transactions AllowedNo
Additional Cardholder Fee$90
Number of Additional Cardholders4

Pros

  • 0% interest rate on balance transfers for 26 months.
  • $0 annual fee for the first year.
  • Earn Citi Rewards Points that can be redeemed through Citi or converted to frequent flyer points, including Velocity.
  • Stay protected with complimentary travel insurance.

Cons

  • Even for a platinum credit card, a standard annual fee of $199 is quite high.
  • The balance transfer offer charges a one-time 1.5% fee.
  • Additional cardholders come at a cost of $90 each.
Rewards ProgramCiti Rewards Program
Rewards Points per $ spent (VISA/MC)1
Rewards Points per $ (VISA/MC) Cap10,000

Benefits of the Citi Rewards Platinum Credit Card

  • Long-term balance transfer. Apply for this offer before 31 May 2019 to get a 0% p.a. interest rate for 26 months on balances transferred. You must elect to transfer a balance at the time you apply for the credit card to be eligible for this offer. Do take note that a 1.5% balance transfer fee applies. Any unpaid balance transfer debt remaining at the end of the promotional period will be charged at the cash advance rate of interest, currently 21.74% p.a.
  • Transfer personal loan debt. Citi is one of the few providers that allow you to transfer the balance of a personal loan to a credit card. Line of credit accounts can also be included in a balance transfer to the Citi Rewards Platinum Credit Card.
  • $0 first year annual fee. This Citi Rewards Platinum Credit Card offers a $0 annual fee for the first year ($199 p.a. thereafter).
  • Earn Citi reward Points. This card offers 1 Citi reward Point per dollar spent for eligible domestic and international spend. There is a domestic spend points cap of $10,000 per statement period, but no cap for eligible international spend. Points can be redeemed for a variety of merchandise or experiences, converted to frequent flyer miles with Emirates Skyward Miles, Velocity Frequent Flyer and Singapore Airlines KrisFlyer and more.
  • Pay with Points. You can choose to redeem your points for eligible purchases and get a statement credit back on your account, or choose to convert them to cashback.
  • Complimentary travel insurance. Purchase your overseas travel tickets with this card and you and your family can be covered for medical expenses, trip cancellation due to unexpected circumstances, loss or theft of personal items and more.
  • Other complimentary insurances. This card also gives you access to purchase protection insurance that protects you against loss, theft or damage to a covered item purchased with the card. You'll also get an extended warranty cover for eligible items and a guaranteed pricing scheme that refunds the difference in price if you use the Citi Rewards Platinum Credit Card to purchase an eligible item and you see it on sale for less somewhere else.
  • Mobile payment technology. With the Samsung Pay and Apple Pay mobile apps, you can now easily make payments by simply tapping your phone at the contactless terminal.

Features of the Citi Rewards Platinum Credit Card

Here are the fees and features you should consider when comparing the Citi Rewards Platinum Credit Card.

  • Balance transfer limit. Citi allows you to transfer up to 80% of your approved credit limit.
  • Purchase rate. This card has a variable purchase rate of 20.99% p.a.
  • Interest-free days. If you pay your balance in full by the due date on each statement, you can get up to 55 days interest-free on purchases. You will not get interest-free days while you carry debt from a balance transfer.
  • Cash advance rate. This card has a variable cash advance rate of 21.74% p.a. Note that this rate will also apply to any balance transfer amount that remains at the end of the balance transfer introductory period.
  • Additional cardholders. You can add up to 4 additional cardholders to the account for a $90 annual fee per additional card.
  • Fraud protection. Citi utilises Fraudshield technology to monitor your account for any suspicious activity. Citi and Visa also offer zero liability for fraudulent transactions.
  • Visa benefits. Access to Visa benefits like Visa Frontline Access, which gives you cheap seats to the hottest tickets in town. This account is also Visa PayWave enabled.

How to apply for the Citi Rewards Platinum Credit Card

If you would like to apply for the Citi Rewards Platinum Credit Card, you can do so using the "Go to Site" button on this page. The application should only take 10 – 15 minutes to complete and Citi will contact you to verify the status of your application within moments of submitting the online form. Please refer to the following eligibility criteria before you apply:

Eligibility criteria

  • You must be 18 years of age or older.
  • You must have a good credit rating.
  • You must earn more than $35,000
  • You must be a citizen or permanent resident of Australia.

Required documents

If you meet the criteria for this card, you can start the application process. Make sure you have the following details and documents handy:

  • Personal information. You have to provide your contact details, residential address, email address and driver's licence number.
  • Employment information. You'll need to provide proof of employment such as payslips. You'll also be required to submit your employer's details, or your accountant's details if you're self-employed.
  • Financial information. You have to provide proof of assets and liabilities. As well as your primary income, this could include income from any investments or shares, as well as savings accounts. You'll also need to provide details of any existing debts and loans such as mortgages, plus regular expenses such as rent, groceries and household bills.

The Citi Rewards Platinum Credit Card is a premium product that provides a competitive points earn rate on purchases and includes a long 0% p.a. balance transfer offer. However, the standard annual fee of $199 is higher than some other platinum cards, so make sure you compare a range of products to help you find an option that suits your needs.

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2 Responses

  1. Default Gravatar
    SupritaMarch 27, 2019

    If I apply for this card and get approved, how long do I have to do a balance transfer?

    • finder Customer Care
      JhezelynMarch 27, 2019Staff

      Hello Suprita,

      Thank you for your comment.

      If you’re interested to get a 0% p.a. interest rate for 26 months for this card, this applies to balances transferred with this offer at point of application. Your total balance transfers may not exceed 80% of your credit limit.

      If you did the balance transfer after the application, you will not qualify for the offer, unfortunately.

      Regards,
      Jhezelyn

Credit Cards Comparison

Rates last updated April 23rd, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
HSBC Platinum Credit Card
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
0% p.a. for 22 months on balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Earn 20,000 bonus Velocity Points and save with an ongoing $50 p.a. annual fee. Plus, receive a $129 Virgin Australia Gift Voucher each year.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

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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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