Citi Rewards Credit Card – Platinum Card

Information verified correct on December 3rd, 2016
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Pay a reduced annual fee in the first year and enjoy a host of complimentary insurance covers plus a long term balance transfer offer with the Citi Rewards Platinum credit card.

The Citi Rewards Platinum credit card is a premium product that offers a variety of features to help you get more value from your credit card. With a reduced annual fee, 0% p.a. balance transfer offer for 24 months and complimentary insurance offers, there are plenty of ways to save on credit card costs while earning points with the Citi Rewards Platinum credit card.

Product NameCiti Rewards Credit Card - Platinum Card
Rewards ProgramCitibank Rewards Program
Balance transfer rate (p.a.)0% p.a. for 24 months with 1.5% balance transfer fee
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 March 2017
Annual fee$199 p.a. annual fee for the first year ($249 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.
3.4% 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$199 p.a. annual fee for the first year ($249 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
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$90 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • Enjoy a reduced annual fee of $199 on the first year, which reverts back to the standard $249 thereafter.
  • Benefit from a balance transfer offer of 0% p.a. for 24 months.
  • This card comes with a personal budgeting tool that allows you to keep track of purchases and plan your spending.
  • You can stay protected with a complimentary travel insurance.

Cons

  • Even for as platinum credit card, an annual fee of $249 is fairly high.
  • Additional cardholders 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) Cap12,500
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

Citi Rewards Credit Card – Platinum Card review

Earn 1.25 Citi Reward Points per $1 spent in Australia up to $10,000 per statement period, which you can redeem these points for travel rewards, gift cards and flexible airline transfer options.

If you’re looking to consolidate a debt, you can also save on interest with a 0% p.a. balance transfer rate for 24 months. If you’re using the card for purchases, you can also save with up to 55 interest-free days when you pay your balance in full. You’ll also benefit from a range of complimentary travel and purchase protection insurances.

Benefits and Features of Citi Rewards Credit Card – Platinum Card

  • Rewards program. As well as the bonus points offer, you'll also earn 1.25 Citi Reward Points per spent in Australia, up to $10,000 per statement period. You can redeem these reward points for travel perks and gift cards, or use them for transfers to partnered frequent flyer programs.
  • Reduced annual fee. You can take advantage of a reduced annual fee of $199 for the first year, reverting to $249 p.a. thereafter.
  • Higher credit limit. Customers can get a credit limit of up to $100,000, depending on their individual application.
  • Balance transfer offer. Enjoy a balance transfer rate of 0% p.a. for 24 months - bundle your other credit card balances and transfer them to your Citi Rewards Credit Card – Platinum Card. This offer ends on 17 March 2017.
  • 24/7 Personal Concierge Service. Any assistance, information or service you need will be available to you at any time.
  • Complimentary international travel insurance. Do you travel frequently? If so, every time you purchase your tickets with Citibank Platinum, you'll be covered for medical, unexpected expenses, trip cancellation, and personal loss/liability.
  • Samsung Pay eligibility. Register your phone to Samsung Pay and you can easily make payments by tapping your phone on a contactless terminal. Learn more here.

Features of the Citi Rewards Credit Card - Platinum Card

  • Cash advance rate. When you withdraw cash from this card, interest is charged at the rate of 21.74% p.a.
  • Purchase rate. Purchases will be charged at 20.99% p.a. If you pay your monthly balance in full by the statement date you can receive up to 55 interest-free days.
  • Additional cardholders. This card supports up to 4 for a fee of $90 for each cardholder.

How to apply for the Citi Rewards Credit Card - Platinum Card

If you would like to apply for this card, please complete and submit the secure online application. Before applying you will need to ensure that you meet the following criteria:

Eligibility criteria

  • Minimum age. Cardholders must be at least 18 years old.
  • Minimum income requirement. You'll need to have a minimum annual income of at least $35,000
  • Credit history. Your credit history must be in good standing to receive approval.
  • Residency. You must be a permanent Australian resident.
  • Contact details. You need to supply an email address that you check regularly.

Required documents

  • Personal details and contact details
  • Information about your job and you may need to submit a letter from your employer declaring your income
  • Information about your personal income and expenses
  • Your specified maximum credit limit (if you do not wish to choose one, leave this field blank)

The whole application should take about 10-15 minutes to complete. You will receive a response in 60 seconds and you may be required to submit documents to your local Citibank Branch. After this step has been completed, you'll typically receive your card within 1-2 weeks. Your PIN is sent separately for security reasons.

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25 Responses to Citi Rewards Credit Card – Platinum Card

  1. Default Gravatar
    Ben | November 20, 2016

    I have an existing Citibank Signature card. If I apply for a Citibank platinum visa, will I be eligible to get the bonus of up to 150,000 bonus reward points?

    • Staff
      Harold | November 23, 2016

      Hello Ben,

      Given you’ve met the eligibility criteria listed below you are eligible for this card. However, you may need to clarify your current situation with the bank if they will allow you to avail another card with them.

      Eligibility criteria:
      - Minimum age. Cardholders must be at least 18 years old.
      - Minimum income requirement. You’ll need to have a minimum annual income of at least $35,000
      - Credit history. Your credit history must be in good standing to receive approval.
      - Residency. You must be a permanent Australian resident.
      - Contact details. You need to supply an email address that you check regularly.

      I hope this information has helped.

      Cheers,
      Harold

  2. Default Gravatar
    Alan | November 19, 2016

    Hi,

    Can you tell me what the conversion rate of the Citibank Rewards points to frequent flyer prorgams like Virgin Velocity points?

    Alan

    • Staff
      Jason | November 19, 2016

      Hi Alan,

      Thank you for your enquiry,

      Please click this link for the conversion or transfer rates of Citi Rewards Points to Virgin Velocity points and other qualified frequent flyer programs. Please note that the transfer rate may depend on the Citibank card that you have.

      Cheers,
      Jason

  3. Default Gravatar
    John | November 16, 2016

    What is the conversion rate of the bonus points when transferring them to Qantas frequent flyer points?

    • Staff
      Harold | November 16, 2016

      Hello John,

      Thank you for your question.

      For your reference you may want to check this article for your proper guidance.

      I hope this information has helped.

      Cheers,
      Harold

  4. Default Gravatar
    Shashi | November 8, 2016

    1. Can points be earned on international purchases? 2.Is there international conversion fee on transactions? 3. Is 1 city reward point equivalent to 1 frequent flyer point?

    • Staff
      Anndy | November 8, 2016

      Hi Shashi,

      Thanks for your questions.

      With Citibank Rewards Credit Card – Platinum Card, you can earn 1.25 Citi Reward Points per $1 spent in Australia, with a cap of $10,000 per statement period and 1.25 points per $1 spent overseas (uncapped).

      If you use this card overseas, there will be a currency conversion fee of 3.4% of transaction value.

      For transferring your points to a frequent flyer program, you can refer to this link for the conversion rates.

      Cheers,
      Anndy

  5. Default Gravatar
    Ross | August 30, 2011

    I would like to start paying my suppliers buy credit card on the 29th of each month, when would i have to pay my credit card back? Eg: how many days from the purchase date:

    and with the rewards program what do you mean 2 up to 2012 Partners.

    Thanks & Regards Ross Torr

  6. Default Gravatar
    Ricardo | August 27, 2011

    For the Platinum card, what rate do the accrued points transfer to the SQ FF scheme? i.e. for every $1,000 I spend on my Citi Platinum card, how many points do I get in my SQ account?

    • Staff
      Jeremy | August 31, 2011

      Hi Ricardo

      Thanks for your comment

      Citibank Gold and Platinum Cardholders can redeem Citi Reward points for KrisFlyer miles at a rate of 1.5 Citi Reward points to 1 KrisFlyer mile.

      Cheers

      Jeremy

  7. Default Gravatar
    Lesta | August 16, 2011

    Can you clarify the Points per dollar ratio ? When in 2012 does it change , and what to ?
    Can I use these points to transfer to Velocity ?? At what rate ?
    Cheers…

    • Staff
      Jacob | August 20, 2012

      Hi Lesta. Thanks for the question. Cardholders earn 1.25 points per $1 spent on purchases in Australia and up to 3 points per $1 spent on international purchases. Cheers.

  8. Default Gravatar
    kanishk | July 28, 2011

    Hi Can I upgrade my clear platinum card to a normal platinum card and still be entitled to 1.5% bal transfer rate? – Thank you

    • Staff
      Jeremy | August 2, 2011

      Hi Kanishk

      Thanks for your question.

      If you are an existing Citi Credit Card customer, you must have held your current Citi account for at least 9 months before you can apply for another credit card.

      Cheers

      Jeremy

  9. Default Gravatar
    Carrington | July 21, 2011

    If you’re an existing Qantas frequent flyer membership can you add your membership number to this card?

    • Staff
      Jeremy | July 21, 2011

      Hi Carrington

      In order to use this Citibank Platinum Card with the Qantas Frequent Flyer rewards program, you will need to opt in to Citi Qantas Rewards.

      Yes – you can add your existing membership to the card. You will need to advise your Qantas Frequent Flyer membership number to Citibank in order to earn points under that account.

      It’s also important to note that Qantas Frequent Flyer Points may only be credited to a Qantas Frequent Flyer membership account in the Account holder’s name.

      Cheers

      Jeremy

  10. Default Gravatar
    Matt | July 18, 2011

    Can you balance transfer with this card from a car loan?

    • Staff
      Jeremy | July 19, 2011

      Hi Matt

      Citibank allows you to transfer the balance of existing credit cards or personal loans (including car loans) to a Citibank credit card.

      Cheers

      Jeremy

Credit Cards Comparison

Rates last updated December 3rd, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* 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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