Citi Rewards Classic Credit Card

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Repay your existing debt with 0% interest on balance transfers for 15 months and save with a $49 first year annual fee.

You can both reduce costs and earn points as you spend with the Citi Rewards Classic. You’ll save with a discounted annual fee for the first year and will also get 5% cashback on retail purchases for the first 90 days.

0% p.a.

Balance transfer rate

for 15 months with 1.5% balance transfer fee

20.99% p.a.

Purchase rate

1

Reward point

Per $ spent (Visa/Mastercard)

$49 p.a.

Annual fee

for the first year ($99 p.a. thereafter)


Details

Product NameCiti Rewards Classic Credit Card
Rewards ProgramCiti Rewards Program
Balance Transfer Rate0% p.a. for 15 months with 1.5% balance transfer fee
Balance Transfer Revert RateCash Advance Rate (21.74% p.a.)
Balance Transfer Limit80% of available balance
Purchase Rate20.99% p.a.
Annual Fee$49 for the first year ($99 thereafter)
Interest Free Period55 days
Cash Advance Rate21.74% p.a.
Minimum Credit Limit$2,000
Maximum Credit Limit$100,000
Card TypeVisa
Foreign Currency Conversion Fee (Visa/Mastercard)3.4% of transaction value
Complimentary Travel InsuranceNo
Minimum Income$25,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Joint ApplicationNo

Pros

  • Get 0% for 15 months on balance transfers.
  • Pay a discounted annual fee of $49 in the first year.
  • Receive up to $50 cashback on eligible spend in the first 90 days
  • Complimentary purchase cover insurance.

Cons

  • The purchase interest rate of 20.99% p.a. is high.
  • There is a one-time 1.5% balance transfer fee. When the balance transfer period expires, the interest charged on any outstanding balance will be charged at the cash advance rate.
Rewards ProgramCiti Rewards Program
Rewards Points per $ spent (Visa/Mastercard)1
Annual Fee$49 for the first year ($99 thereafter)
Minimum Monthly Repayment2% of the closing balance or $30, whichever is greater
Late Payment Fee$30
Foreign Currency Conversion Fee (Visa/Mastercard)3.4% of transaction value
Cash Advance Fee3.5% or $3.50, whichever is greater
Overseas Cash Advance Fee$5
Additional Cardholder Fee$15
Number of Additional Cardholders4

Expert review

Sally McMullen

Review by


Sally McMullen is Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.

Expert review

Suited to those who are looking to consolidate a modest amount of existing debt while being rewarded for their spending, the Citi Rewards Classic offers a mid-term balance transfer and rewards points per $1 spent.

How to apply

You can apply for the Citi Rewards Classic Credit Card online and complete the application within 15 minutes. You should receive a response within 60 seconds. Before you get started, make sure you meet the eligibility criteria and have the necessary documents ready.

Eligibility criteria

  • Income. Applicants must earn more than $25,000 p.a.
  • Eligible balance transfer debt. If you plan to take advantage of the balance transfer offer, Citi allows you to transfer up to 80% of your available credit limit from credit cards, store cards, lines of credit and personal loans not issued by Citi.

Card benefits

  • 0% p.a. balance transfer offer. Take advantage of a 0% p.a. interest rate on balances transferred to this card for the first 15 months (with a one-time 1.5% balance transfer fee). Any balance remaining at the end of the introductory period collects interest at the cash advance rate, currently 21.74% p.a.
  • Discounted first year annual fee. Save with a discounted annual fee of $49 for the first year. The standard fee of $99 p.a. will be charged in subsequent years.

Rates & fees

  • Annual fee. Outside of any promotions, this credit card charges an annual fee of $99.
  • Purchase interest rate. This card charges a 20.99% p.a. purchase interest rate. If you pay your balance in full by the end of the statement period, you can save with up to 55 interest-free days. You won't be eligible for these interest-free days if you're paying off a balance transfer.

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78 Comments

  1. Default Gravatar
    William
    July 20, 2016

    Hello

    Just wondering when the 70,000 points get paid out? Is it once $3000 is spent on the card or once you’ve repaid $3000 on the Citi rewards card?

    Having a hard time trying to find out in the terms and conditions.

    Cheers

    • AvatarStaff
      May
      July 20, 2016

      Hi William,

      Thanks for your inquiry,

      Just to confirm that you’ve come through to finder.com.au we are an Australian financial comparison website and general information service and we do not represent Citibank or any credit card company we feature on our site.

      As stated in the T&Cs, Citibank will award points for all eligible transactions debited to your account during the Statement Period. Your rewards balance will appear on your Account statement. For your reference, I’ve sent the Citibank rewards T&Cs to your email.

      Also, with Citi Rewards Card Classic, you will actually receive the maximum annual cap of 60,000 rewards points – this is through earning 1 point per $1 spent on eligible domestic purchases (up to $5,000 per statement period).

      The 70,000 points, meanwhile, is actually for the Citi Qantas Signature Credit Card – you will receive 70,000 bonus Qantas Points when you spend $3,000 or more within the first 90 days from card approval.

      I hope this has answered your question.

      Cheers,
      May

  2. Default Gravatar
    Dennis
    July 6, 2016

    Your tables show the rewards earn rate per $ spend by card type but NOT the conversion rate in transferring accumulated points to airline programs. This is surely the burning issue with card rewards programs now and not including this detail is devaluing the usefulness of your site. Pls fix.

    • AvatarStaff
      Dee
      July 21, 2016

      Hi Dennis,

      Thanks for your comment.

      If you would like to transfer your credit card rewards points to a frequent flyer program, you can refer to this page for the conversion details.

      Cheers,
      Anndy

  3. Default Gravatar
    Jason
    July 5, 2016

    Hi there i am running a business http://secureacom.com.au and am in the market for a new business credit card, we need to have the GST breakdown for each transaction recorded in the statement does the Citi Rewards Classic Credit Card do this??

    • Default Gravatar
      Chester
      July 12, 2016

      Hello Jason,

      The answer is yes. Your Citi Rewards Classic Credit Card offers a complete breakdown of the charges made on your credit card. Once your billing cycle has been completed, a bank statement will be generated and sent to you via email (for paperless) or via your physical billing address provided.

      Hope this helps.

      Cheers!
      Chester

  4. Default Gravatar
    Grace
    March 6, 2016

    Is it possible to balance transfer from personal loan to Citibank
    classic credit card to take advantage of the 18months 0% interest?

    • AvatarStaff
      Sharon
      March 7, 2016

      Hi Grace,

      Thanks for your inquiry.

      Yes, you can apply for this card. Transferring balance from a personal loan to a credit card is accepted by Citi. You may also refer to the eligibility requirements before submitting your application for the card.

      For more information, you refer to this page

      Cheers,

      Sharon

    • AvatarStaff
      Jonathan
      March 7, 2016

      Hi Grace, thanks for your inquiry!

      You cant transfer personal loans to Citibank credit cards.

      Cheers,

      Jonathan

  5. Default Gravatar
    zoe
    November 24, 2015

    Is there a minimum time period for classic card account eg min 2 yrs?

    • AvatarStaff
      Jonathan
      November 25, 2015

      Hi Zoe, thanks for your inquiry!

      There is no minimum term to hold this credit card.

      Cheers,

      Jonathan

  6. Default Gravatar
    Brittney
    November 4, 2015

    Can I apply for this and receive the promotional balance transfer rate if I already have a transaction account with Citibank, but not a credit card? Or is it only for people who have never conducted business with Citibank before?

    • AvatarStaff
      Sharon
      November 5, 2015

      Hi Brittney,

      Thanks for you inquiry.

      Yes you can apply for the Citi Rewards Classic credit card and take advantage to the promotional offers. As long as you meet the eligibility requirements and earn the minimum income requirement, then you should have no trouble applying for this card.

      Cheers,

      Sharon

  7. Default Gravatar
    Alex
    October 29, 2015

    What is the balance transfer fee? I can find the balance transfer rate of 0%, but would like to know what other fees are involved when I transfer the balance.

    Thank you

    • AvatarStaff
      Debbie
      October 29, 2015

      Hi Alex,

      Thank you for your inquiry.
      For Citi Classic, there is no additional fee when you transfer your balances. Please note that after the promotional offer expires, it will revert to the standard cash advance rate.

      To compare other balance transfer credit cards, please check this page.
      I hope this helps.

      Cheers,
      Debbie

  8. Default Gravatar
    Janice
    October 27, 2015

    I have Coles credit card and I would like to know if I can balance transfer this credit card to Citibank card

    • AvatarStaff
      Debbie
      October 27, 2015

      Hi Janice,
      Thank you for your inquiry.
      Yes, you can transfer your balances from a Coles credit card to a Citibank credit card. As long as you meet the application criteria you will be eligible to apply for this card.

      If you like to compare other offers from Citibank, please refer to our comparison page.
      I hope this helps.

      Cheers,
      Debbie

  9. Default Gravatar
    Dean
    October 19, 2015

    Hello CCF,

    Just a quick question for you. We run a business https://mrtelco.com and wondering if this credit card will display the GST portion of each transaction on the actual statement?
    Cheers

    • AvatarStaff
      Jonathan
      October 26, 2015

      Hi Dean, thanks for your inquiry!

      Unfortunately Citi credit card statements do not display the GST portion of each transaction on the statement.

      Cheers,

      Jonathan

  10. Default Gravatar
    Lily
    September 8, 2015

    Hi there,
    Can you please let me know if I can transfer 100% of the balance of my credit card to a Citibank 0% interest card or if there is a limit of how much I can transfer?
    Thanks

    • AvatarStaff
      Sally
      September 8, 2015

      Hi Lily,

      Thanks for you inquiry.

      The maximum balance that you can transfer should not exceed 80% of your approved credit limit. The maximum credit limit allowed for the Citi Rewards Classic card is $100,000. As a result, you would be allowed to balance transfer up to $80,000 if approved for the maximum credit limit.

      I hope this has helped.

      Cheers,

      Sally

    • Default Gravatar
      Lily
      September 8, 2015

      Thanks Sally, definitely helps. I thought the limit it was a percentage of what I own in my current credit card. Glad to know it is not.
      Many thanks
      Lily

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