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Citi Prestige Credit Card – Rates and Fees

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Receive 70,000 bonus points and get one card with access to two reward systems: the Citi Prestige credit card lets you choose how to spend your points.

When you have the power of the Prestige card you get to choose between the Citi Rewards Program or the Citi Qantas Rewards Program—both offering you ways to make the most from your spending habits. The Citi Rewards Program will give you 3 rewards points per dollar spent with no limit or give you 3 points per dollar when you use your card for international purchases, including online.

This credit card also offers a balance transfer offer of 0% p.a. for 6 months, allowing you transfer and repay your existing credit card debt interest free.

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.
Offer end date31 August 2017
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
Minimum Monthly Repayment2% or $30 whichever is greater
Minimum Income$150,000
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.
3.4% of transaction value
Complimentary Travel InsuranceYes
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$150,000
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.
$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
Annual Fee$700 p.a.
Minimum Repayment2% or $30 whichever is greater
Late Payment Fee$10
Over Limit Fee$0
Cash Advance Fee3.5% of transaction amount or $3.50
Overseas Cash Advance 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.
3.4% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes

Pros

  • Receive 70,000 bonus points when you first spend on your card within the first three months of card approval. Offer ends on 31 August 2017.
  • Enjoy 0% p.a. balance transfer rate for the first 6 months (reverts to the cash advance rate thereafter).
  • Earn up to 3 rewards 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 Points on Sign-up70,000
Rewards Points per $ (VISA/MC)3
Rewards Points per $ (VISA/MC) CapUncapped
Points ExpiryNever

Citi Prestige Credit Card review

The unique perks that come with the Citi Rewards program make the Citi Prestige credit card a competitive offering. You are allowed access to a full range of airlines and hotels, or if you prefer, book your trip with the online booking service and find deals that save you even more. Citi Rewards will even allow you to pay with your points. With access to the Visa Luxury Hotel Collection, you're invited to spend the night at any of the unbelievable 900 luxury hotels in their collection. Enjoy a glass of free wine with dinner when you dine with the Citibank Dining Program.

Rewards Program

If you'd prefer a more travel-focused program, check out the features of Qantas Rewards:

  • Citi Qantas rewards - Every dollar spent on your card is rewarded with a Qantas Frequent Flyer Point which will be automatically transferred to your Qantas Frequent Flyer club every month.
  • Qantas Frequent Flyer store - Qantas also has a Frequent Flyer store online where you can trade your rewards in for products or vouchers.
  • Priority Pass membership - Gives you access to 800 domestic and international airport lounges worldwide. You can also bring 1 guest per visit who can gain access for a fee. Wait for flights in comfort with your unlimited access to the airport lounge.

Features of the Citi Prestige Credit Card

      • Interest rate for purchases. This card comes with an interest rate of 20.99% p.a. on purchases.
      • Interest rate for cash advances. The interest rate of 21.74% p.a. will be charged on cash advances.
      • Interest free period. You get up to 44 days to pay for your purchase before interest starts accumulating.
      • Credit limit. $100,000 is the maximum amount of credit offered.
      • Annual fee. The annual maintenance fee for this card is $700
      • Additional card fee. You are allowed up to 4 supplementary cards at no additional cost. You are still responsible for the purchases made on those cards.
      • Statement frequency. You will receive a statement either online or in the mail every month.
      • Late payment fee. If the total minimum payment due is not received by its due date, $10 will be charged, and will be charged again every seven days until a payment is made.

How to apply for the Citi Prestige Credit Card

If you like the idea of choosing the rewards program that suits you, click 'Go to site' and be transferred to the secure application form.

Eligibility criteria

      • Age. You must be at least 18 years of age.
      • Income. Your earnings must be at least $150,000.
      • Credit history. You must have a good credit rating.
      • Resident Status. You must be an Australian permanent resident or citizen.

Required documents

      • Contact details. Proof of your residence
      • Proof of employment. Proof of your current employment along with contact information of your employer
      • Proof of income. This should include your total gross salary plus any other sources of income.
      • Expenses. Proof of your share of monthly expenses, including rental payments and utilities
      • Identity proof. A copy of your driver's license (front and back)

If being able to choose your rewards is important to you, then the Citi Select credit card should be a considerable option on your short list. Compare it with the other reward programs being offered to pick the one that fits with your lifestyle the best.

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4 Responses

  1. Default Gravatar
    JohnDecember 11, 2013

    Please advise what travel insurance cover is available when you hold a Platinum MasterCard to travel Internationally, and what is required from myself, or my travel agent to comply with the insurance company’s records.

    Thank you.

    John.

    • Staff
      JacobDecember 11, 2013Staff

      Hi John.

      Thanks for your question.

      I have sent the Citibank description of insurance cover policy document to your email, please have a good read through this PDF before you purchase flights etc. You can find a detailed description of cover in this document.

      You’re covered for three months from the date of your departure from Australia if you charge the entire cost of a return overseas travel ticket to your card (not including taxes or airport or travel agent charges). You’re also covered if you pay for your flight with your Citi Rewards or Citi Qantas Points.

      I hope this helps.

  2. Default Gravatar
    brianAugust 8, 2013

    i have a Citi select credit card.I was looking at getting another card that i can use for different transactions. I want to keep the transactions separate but pay the same way as per direct debit from my bank. can i get a Citi select card with a different number

    thanks Brian

    • Staff
      ShirleyAugust 8, 2013Staff

      Hi Brian,

      Thanks for your comment.

      Yes this is possible, but you will need to have held your current CitiSelect card for 9 months or longer.

      Cheers,
      Shirley

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