Citi Select Credit Card – Australia’s First Visa Signature Credit Card

Information verified correct on December 7th, 2016

Review of Australia's first Visa Signature Credit Card - the Citi Select credit card

The Visa Signature program is launching its first card in the form of the Citi Select Credit Card. This card lives up to the title select on several levels. The rewards offered by this card are select in that they have the ability to be tailored to individual cardholder desires. it is also select in the sheer volume of points that cardholders are able to earn, at a rate of two points for each dollar spent you can build up a nice stockpile of points to use with the Citi Rewards partners. But, points are not the only select benefit of owning this particular credit card, delve a little deeper and you will find a world of benefits that gives you more then you ever expected from a credit card.

You may also be interested in the Citibank Rewards Credit Card – Signature Card which offers a host of signatures benefits with a lower annual fee.

Citi Select Credit Card

  • Finances. Most people do not think of their credit card when they think of big financial investments, but the Citi Select Credit Card changes that thinking. Owners of this card will have access to Citigold financial advisers who can assist them with big investments. In addition, cardholders get preferred rates on Citi mortgages and term deposits.
  • Lifestyle. If you enjoy the finer things in life having the best and most luxurious experiences is surely important to you. Cit meets this need through the Visa Signature Bespoke Event Program. It opens the door to customised experiences and the best seats in the house at a vast array of events.
  • Luxury Travel. Owners of this card undoubtedly like to travel. Part of meeting this need comes in the redemption of points within the Citi Rewards program. Cardholders can choose to use their points with any of the prestigious Citi Partners that include airlines, hotels, and other travel rewards. Or, for those customers loyal to Qantas, is an option to join the Citi Qantas Rewards program. This allows you to have all of your points directly deposited to your Qantas Frequent Flyer account. In addition to earn loads of points you will also be able to relax in luxury while you travel with access to over 600 VIP airport lounges no matter which airline you are travelling on or which class ticket you have purchased.

To apply for the Citi Select Credit Card you must be an Australian resident over the age of 18 with a good credit file. The minimum income requirement is $120,000 per annum and comes with a $700 annual fee. These are big numbers because this card is intended for big spenders. For those who want luxury that is customised to their taste it is well worth the cost.

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Minimum Income$120,000
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.
$15,000
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%
Late Payment Fee$10
Over Limit Fee$0
Cash Advance Fee3.5% of transaction amount or $3.50
Overseas Cash Advance Fee$5
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$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • Travel benefits such as Citi Rewards point redemption for multiple airlines.
  • Complimentary interstate and international travel insurances.

Cons

  • This card has a minimum income requirement $120,000. This is high and the applicants they ar trying to attract is reflected in the high annual fee of $700 p.a. too.
  • An outstanding amount that has been brought over to this card using a balance transfer and not paid off will be charged at the cash advance rate of interest.
  • The 20.74% p.a. interest rate of purchases and the 21.24% p.a. cash advance rate of interest are quite high.
Rewards ProgramCitibank Rewards Program
Bonus Points on Sign-up60,000
Rewards Points per $ (VISA/MC)2
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) CapUncapped
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever
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2 Responses to Citi Select Credit Card – Australia’s First Visa Signature Credit Card

  1. Default Gravatar
    alan | April 3, 2012

    Does the deal which expires March 31, 2012 still exist
    ?

    • Staff
      Jeremy | April 27, 2012

      Hi,

      Sorry the offer you are referring to expired on the 31st of March. Cheers.

      Jeremy

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Rates last updated December 7th, 2016
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HSBC Platinum Qantas Credit Card
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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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