In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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Citi Premier Card – Velocity Points Offer

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Citi Premier Card - Velocity Points Offer
Terms and conditions apply
Bonus points
100,000
Purchase rate
21.49% p.a.
Reward point per $ spent
1
Annual fee
$300 p.a.

Our verdict

Offers 100,000 bonus Velocity Points, airport lounge access and complimentary insurance. But make sure the benefits give you enough value to justify the annual fee.

The Citi Premier is a top-level credit card that offers flexible rewards points and has a generous bonus points offer. You could use 100,000 bonus Velocity Points for a one-way business class flight from Brisbane to Los Angeles (95,500 points plus fees and taxes), with points to spare. If you’re more interested in cash rewards right now, you could use these Velocity Points to get $500 worth of Coles Group & Myer gift cards (97,040 points for five $100 gift cards).

Pros

  • 100,000 bonus Velocity Points
  • Higher rate of 2 Citi Rewards Points per $1 on eligible international spend and purchases made online in Australia or overseas
  • Complimentary Priority Pass membership and 2 airport lounge visits per year
  • Complimentary travel insurance
  • Reduced $150 annual fee from second year on if you spend at least $48,000 in each year

Cons

  • High $300 annual fee in the first year and in future years, unless you meet the spend requirements
  • High 3.4% foreign transaction fee
  • You will not be eligible for interest-free days on retail purchases while you have a balance transfer

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

This Citi Premier credit card offer gives you a way to boost your frequent flyer point balance, with 100,000 bonus Velocity Points when you apply and are approved and spend $8,000 on eligible purchases in the first 3 months from approval. It charges a $300 annual fee in the first year, but you can get a $150 annual fee in future years if you spend at least $48,000 per year. Keep this in mind when you’re weighing up the card’s features to decide if it’s worth it for you.

Details

Product details

Product Name Citi Premier Card - Velocity Points Offer
Balance transfer limit 80% of available limit
Purchase rate p.a. 21.49%
Interest-free period Up to 55 days on purchases
Cash advance rate p.a. 22.24%
Min credit limit $10,000
Max credit limit $100,000
Card type Mastercard

Eligibility

Available to temporary residents No
Minimum income $75,000
Joint application No

Rewards

Rewards program Velocity Frequent Flyer
Bonus points 100,000
Rewards points per $ spent 1
Rewards points cap 200,000

Fees

Annual fee $300
Minimum monthly repayment 2% of the closing balance or $30, whichever is greater
Late payment fee $30
Foreign currency conversion fee 3.4%
Cash advance fee 3.5% or $3.50, whichever is greater
Overseas cash advance fee 5%
Additional cardholder fee $0
Number of additional cardholders 4
On 1 June 2022, Citi's consumer banking business was acquired by NAB. Citi credit cards are still available for application and will have the Citi brand. However, the contract for these cards is now with NAB.

How to apply

You can apply for the Citi Premier Credit Card online in 10 minutes and should receive a response within 60 seconds. Before you get started, make sure to check the eligibility requirements and organise the necessary information to complete the application.

Eligibility criteria

  • New cardholder. The bonus Velocity Points offer is only available to new Citi customers.
  • Residency. You must be an Australian citizen or permanent resident.

Card benefits

  • 100,000 bonus Velocity Points. You'll collect the bonus points when you apply and are approved for the Citi Premier card and spend $8,000 on eligible purchases in the first 3 months from card approval. Eligible purchases cover most everyday transactions, including retail and supermarket shopping, food, coffee and fuel. Transactions that won't count towards the bonus points include cash advances, balance transfers, and refunds. The bonus points will be credited to your Velocity Frequent Flyer account within 6-8 weeks of meeting the spend criteria.
  • Rewards program. You'll earn 2 Citi reward Points per $1 on eligible purchases made online in Australia or overseas, 2 points per $1 on eligible international spending and 1 point per $1 on all other eligible spending in Australia. This means you'll earn points for most of your purchases, with an annual points cap of 200,000 points. But you won't earn points for transactions including cash advances, balance transfers, BPAY payments, transactions made when you're operating a business and government charges (including payments to the Australian Taxation Office). Learn more about Citi Rewards in Finder's guide.

Rates & fees

  • Annual fee. This card has a $300 annual fee in the first year. After that, a $150 annual fee is charged if you spend $48,000 on eligible purchases or cash advances within that year. Otherwise, the annual fee is $300.
  • Interest rates. The purchase rate on this card is 21.49% p.a. and the cash advance rate is 22.24% p.a. (variable).

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Amy Finder

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