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.
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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.
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 be charged interest on retail purchases while you have a balance transfer
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 $25, 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.
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Amy Finder
Editor
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