Citi Rewards Credit Card – Platinum Card

Information verified correct on December 9th, 2016
Citi Rewards Credit Card - Platinum Card Find out more Go to site

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Take advantage of 0% p.a. on balance transfers for 24 months, a reduced annual fee of $199 in the first year and complimentary insurances with the Citi Rewards Platinum.

The Citi Rewards Platinum Credit Card offers a range of premium features, including rewards, complimentary extras and introductory offers for new customers. Apply for this card before the 17 March 2017 and you can get an introductory 0% p.a. on balance transfers for the first 24 months.

In addition to this competitive balance transfer offer, this card gives you access to perks including up to six months complimentary international travel insurance, a personal concierge service and access to the Citi Dining Program. It has a reduced annual fee of $199 on the first year ($249 thereafter).

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

The Citi Rewards Platinum is a premium product that offers value through both introductory and ongoing features. This card earns 1.25 points per $1 spent on eligible purchases. These points can then be redeemed for a wide range of rewards through the Citi Rewards Program, including travel, merchandise, cash back and frequent flyer points.

In addition to earning points, this card offers complimentary international travel insurance and purchase protection insurance, a personal concierge service and exclusive entertainment and shopping offers. It also offers a reduced annual fee of $199 in the first year ($249 p.a. thereafter).

Benefits of the Citi Rewards Platinum Credit Card

  • 0% p.a. for 24 months balance transfer offer. Apply for the Citi Rewards Platinum Card before 17 March 2017 to get 0% p.a. for 24 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. At the end of the 24-month introductory period, any unpaid balance from the balance transfer promotional period will be charged at the cash advance rate of interest, currently 21.74% p.a.
  • Transfer personal loan debt. Citibank 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 Credit Card - Platinum.
  • Earn Citi Reward Points. This card offers 1.25 Citi Reward Points per dollar spent for domestic and international purchases. There is a domestic points cap of $10,000 per statement period (making the annual cap of 150,000 points), but no cap for international purchases. Note that a currency conversion fee applies to all transactions made overseas or with an international retailer online.
  • Eligible for Samsung Pay. With the Samsung Pay smartphone app, you can now easily make payments by simply tapping your phone on the contactless terminal. Learn more here.
  • Complimentary travel insurance. Purchase your overseas travel tickets with this card and you and your family may 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, extended warranty cover for eligible items, and a guaranteed pricing scheme that refunds the difference in price if you use the Citi Rewards Platinum to purchase an eligible item and you see it on sale for less somewhere else. Refer to the complimentary insurance terms and conditions documents on the Citi website for full eligibility requirements and terms and conditions of these insurance policies.

Features of the Citi Rewards Credit Card - Platinum Card

Here are the features you should consider when looking at the Citi Rewards Platinum Credit Card.

  • Balance transfer limit. Citi allows you to transfer up to 80% of your credit limit. For example, if you apply for the Citi Rewards Credit Card - Platinum, and you’re approved for a credit limit of $10,000, you can transfer up to $8,000 from other cards and accounts.
  • Annual fee. The Citi Rewards Platinum has a reduced annual fee of $199 for the first year ($249 thereafter).
  • Purchase rate. This card has a standard variable purchase rate of
  • 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.
  • Cash advance rate. This card has a standard 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. Citibank utilises Fraudshield technology to monitor your account for any suspicious activity. Citibank 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 Credit Card – Platinum

If you would like to apply for the Citi Rewards Credit Card - Platinum, you can do so using the "Go to Site" button on this page. The application should only take 10 – 15 minutes to complete and Citibank 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:

Application criteria

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

Required information

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 Credit Card - Platinum 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 $249 p.a. 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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282 Responses to Citi Rewards Credit Card – Platinum Card

  1. Default Gravatar
    Leong | October 30, 2016

    I received a Rewards card to replace my Platinum card. Citibank downgrade my card from Platinum to Rewards card?

    • Staff
      May | October 30, 2016

      Hi Leong,

      Thanks for your inquiry. Please note that you’ve reached finder.com.au, not actually Citibank.

      If your new Platinum card is the one featured above, Citibank may not have downgraded your card, instead, they have upgraded it to a Platinum card with “Rewards” plus platinum benefits. I suggest that you verify with Citibank directly about your new credit card to be sure.

      Cheers,
      May

  2. Default Gravatar
    ashleigh | October 16, 2016

    Hi there. I’m wishing to apply for a balance transfer but am worried I won’t have the relevant documents as I can’t produce bank statements. I’ve been paid by cheque/cash this whole time. What can I do? What other documents do I need?

    • Staff
      May | November 4, 2016

      Hi Ashleigh,

      Thank you for your inquiry.

      Credit card companies usually differ when it comes to application eligibility criteria and requirements. If you do not have bank statements, you may be able to ask your employer to issue you a certificate of employment where your salary is stated so this can serve as your proof of income. I also suggest that you contact the bank first before you submit your application to ensure you have the complete list of documents they require.

      Hope this helps.

      Cheers,
      May

  3. Default Gravatar
    | September 19, 2016

    What are the rewards available to me

    • Staff
      Sally | September 20, 2016

      Hi Robin,

      Thanks for your question.

      The rewards you’re available to redeem will depend on your points balance. You can check this by logging into your Citi Rewards online account.

      Depending on how many points you have, you could redeem them for flight discounts with partnered airlines, travel deals and merchandise (including electronics, computers and tablets, homewares, jewellery and more) from the online store. You can compare the rewards that are available on the Citi Rewards website.

      I hope this has helped.

      Cheers,

      Sally

  4. Default Gravatar
    | September 12, 2016

    Can Citi bank platinum card points be transferred to Air New Zealand and if so how many Citi point to a Air New Zealand point?

    • Staff
      Anndy | September 13, 2016

      Hi Apu,

      Thanks for your question.
      Unfortunately, you can’t transfer your Citi Rewards Platinum points to Air New Zealand frequent flyer points. You can only transfer your rewards points to Emirates Skywards, Singapore Airlines KrisFlyer and Virgin Australia Velocity.

      Cheers,
      Anndy

  5. Default Gravatar
    gc1 | August 30, 2016

    Does Citi bank allow transfers from an existing Citi bank card balance to this offer?

  6. Default Gravatar
    APN_Adelaide | August 23, 2016

    Hi
    is it possible to move a ST george unsecured personal loan 15 k and Gem visa 7k into a single card.24 months 0% repayment looks really interesting
    or will it be cheaper to take loans from some credit unions to repay (if you take in consideration of balance transfer fee and annual fee of a credit card)?

    cheers

    • Staff
      May | August 23, 2016

      Hi APN_Adelaide,

      Thank you for your question. As finder.com.au is a comparative financial service, we can’t actually recommend one specific card or banking product to our users as the best option depends entirely on your own financial situation.

      Yes, Citibank actually accepts personal loan and credit card balance transfer, however, please note that the total amount you can transfer to a new single credit card should not exceed the credit limit you’ll be approved for. For the Citi Rewards Credit Card, you can only transfer a balance that is 80% of available credit limit.

      If you want to know your other options for transferring your personal loans and credit card balance, please feel free to check this page.

      I hope this helps.

      Cheers,
      May

  7. Default Gravatar
    Saba | August 12, 2016

    Hi can i make a transfer balance of $6000 with citi rewards credit card-Platinum card to nab credit card.

    • Staff
      May | August 13, 2016

      Hi Saba,

      Thank you for your inquiry.

      To apply for a balance transfer, you have to go through the process of applying for the credit card. You can compare your NAB credit card options on this page. Before you request for the BT and submit your credit card application to NAB, make sure to review the criteria and requirements.

      Please also note that the total amount you can transfer to a new card should not exceed your approved credit limit.

      Hope this helps.

      Cheers,
      May

  8. Default Gravatar
    sarah | June 20, 2016

    when i transfer a balance to a new credit card, am i essentially closing down the original credit card account?

    • Staff
      Anndy | June 20, 2016

      Hi Sarah,

      Thanks for your comment.

      When you do a balance transfer, that does not automatically close your old credit card. Balance transfer just allows you to move your balance from an old card to the new one. If you’d like to close your old credit card after a successful balance transfer, you can find some helpful tips on how to do it on this page.

      I hope this helps.

      Cheers,
      Anndy

  9. Default Gravatar
    Chris | June 14, 2016

    Hi,

    does this mean you can also transfer a secured loan to this type of card also??

    • Staff
      Anndy | June 14, 2016

      Hi Chris,

      Thanks for your comment.

      With Citi Rewards Credit Card – Platinum Card, you can transfer your personal loan and line of credit balance to it. Please note that you must elect to transfer a balance at the time you apply for this credit card to be eligible for the 0% p.a. for 24 months balance transfer offer.

      Cheers,
      Anndy

  10. Default Gravatar
    Karen | June 2, 2016

    WE have a 4.5% loan on our original account and then we have just had a cash advance we would like to pay off quickly .
    Will the amounts being paid come directly of the high interest amount 21% cash advance ?

    • Staff
      May | June 10, 2016

      Hi Karen,

      Thanks for your inquiry.

      Sorry for the delayed reply. Generally, credit card issuers tend to charge different interest rates for purchases and cash advances. So the interest you’ll be paying for your cash advance is separate from the 4.5% loan interest you have on the card.

      When you use your credit card to make a cash advance, your card will automatically charge you a fee (typically varies in between 1.5% to 4%) and interest, which is usually very high, normally 20% p.a. or more.

      Whilst you have an easy access to cash with your card, you might as well be aware of the costs it charges, so it’s in your most interest to try and repay the money as soon as possible.

      Cheers,
      May

Credit Cards Comparison

Rates last updated December 9th, 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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