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Our verdict

Offers up to 200,000 bonus points and $150 first-year annual fee, but make sure the benefits give you enough value to justify its annual fee after that.

The Citi Premier is a top-level credit card that offers flexible rewards points and has a generous bonus points offer. If you earn the full 200,000 bonus points on offer, you could redeem them for $950 worth of digital gift cards from brands including THE ICONIC, JB Hi-Fi, Bunnings Warehouse, Coles and Woolworths ($50 gift cards start from 10,500 points). You can also transfer them to Velocity Frequent Flyer, Singapore Airlines KrisFlyer, Emirates and Flybuys, pay with points and shop with other partners.

The Citi Premier is packed with other perks, too. This includes Priority Pass airport lounge access, complimentary insurance and a concierge. Considering these benefits, the $150 annual fee you pay in the first year is very competitive. After the first year, you can continue to pay a $150 annual fee if you spend at least $48,000 on purchases or cash advances in a year, which works out to $7,000 a month. If you don't spend that much, a higher $300 annual fee applies – so check how much you usually spend when you're comparing this card to other options.

Pros

Up to 200,000 bonus points offer
Annual fee of $150 in the first year and in each subsequent year when you meet the spend requirement
Complimentary Priority Pass membership and 2 airport lounge visits per year
Complimentary travel insurance

Cons

The standard annual fee of $300 is relatively high
Earns a different number of points per $1 depending on the spending category
High 3.4% foreign transaction fee

The Citi Premier gives you up to 2 points per $1 spent, complimentary Priority Pass lounge membership and passes and a concierge service. It also offers 150,000 bonus Citi Rewards points when you apply and spend $7,000 on eligible purchases in the first 3 months from approval – enough for $700 worth of digital gift cards. Plus another 50,000 bonus points when you keep the card open for at least a year. Its annual fee is $150 in the first year, and in future years if you spend at least $48,000 for that year. Otherwise, a higher $300 annual fee applies.

Details

Product details

Product Name	Citi Premier Card
Balance transfer rate p.a.	0% for 6 months, then 22.24%
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	Citi Rewards Program
Bonus points	200,000
Rewards points per $ spent	1
Rewards points cap	200,000

Fees

Annual fee	$150 first year ($300 after)
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.

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 points offer is only available to new Citi customers.
Residency. You must be an Australia citizen or permanent resident.

Credit history. You must have a good credit history with no evidence of defaults or bankruptcy to receive approval. You can get a free copy of your comprehensive credit report and score through Finder.
Age. You must be at least 18 years old to apply.
Eligible balance transfer debt. If you plan to take advantage of the balance transfer offer. You can transfer up to 80% of your credit limit from cards and personal loans not issued under the Citi brand.

Required documents

Personal information. You’ll need to provide your full name, age, address and contact details.
Proof of identity. You'll need to confirm your identity with your Australian driver's licence, passport, Medicare card or birth certificate.
Income. You’ll be asked to include tax forms or current pay slips to confirm your current income.
Employment. This will include the name of your employer, your role and your employer's contact details.
Balance transfer information. If you want to transfer a balance to this card, you will need to provide the details of that account(s).

Card benefits

Up to 200,000 bonus Citi reward Points. You'll collect 150,000 bonus points when you apply for the Citi Premier card and spend $7,000 on eligible purchases in the first 3 months from card approval. You'll earn another 50,000 bonus points if you keep the card active for the second year, making you earn a total of 200,000 bonus points. Eligible purchases cover most everyday transactions but not cash advances, balance transfers, and refunds. The bonus points will be credited to your Citi Rewards Balance within 6-8 weeks of meeting the spend criteria.
Rewards program. You'll earn 2 points per $1 on eligible purchases made online in Australia or overseas, 2 points per $1 for eligible international spending and 1 point per $1 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).

Citi PayAll. You can earn 1 point per $1 spent with no points cap when you use Citi PayAll to pay your bills, including rent, property management fees and taxes. This service lets you use your Citi credit card to transfer funds to an Australian bank account, with the option to set up single or regular payments through the Citi Mobile App or online.
Complimentary Priority Pass Membership and 2 airport lounge visits per year. This card offers complimentary Priority Pass standard membership, with 2 airport lounge visits per year. Priority Pass gives you access to over 1,500 airport lounges worldwide. Within Australia, the Priority Pass is currently available at Adelaide, Canberra, Darwin, Brisbane International Airports, Sydney Kingsford Smith, Gold Coast Coolangatta and Melbourne. Learn more about the terms and conditions.
Complimentary travel insurance. Use your Citi Premier credit card to pay for eligible travel bookings and you can save on insurance costs with complimentary international travel insurance and domestic travel insurance. As with any insurance policy, make sure you read the terms and conditions (available via Citi) for full details so you can decide if it will give you enough cover for your travel plans.
Purchase insurances. Items bought with your Citi Premier credit card are also protected by a complimentary purchase protection insurance and extended warranty insurance.
Complimentary mobile phone insurance. If you use your Citi Premier card to pay for your phone on a contract, you can get cover for your eligible mobile phone or smartphone from accidental damage and theft for up to $1,000 per claim (up to $1,650 per year).
Luxury Escapes discount. Until 1 March 2025, you can get 10% off (up to $250) on Limited Time LUX Exclusive hotel offers when you pay with your Citi card through the Luxury Escapes website or app and use the promo code CITI10.
Mastercard benefits. With Mastercard Priceless Cities, you'll get access to exclusive entertainment, dining, travel and other lifestyle experiences in more than 40 cities around the world.
Mobile payment technology. With the Google Pay, Samsung Pay and Apple Pay smartphone apps, you can now easily make payments by tapping your phone or smart device at the contactless terminal.

Rates & fees

Annual fee. This card has a $150 annual fee in the first year and in future years 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).

Balance transfer. Take advantage of 0% interest on balance transfers for 6 months with no balance transfer fee. At the end of the introductory period, the interest rate reverts to the variable cash advance rate, currently at 22.24% p.a. Note that any purchases you make won't be eligible for interest-free days when you have a balance transfer debt.
Interest-free days. The Citi Premier credit card offers up to 55 days interest-free on purchases, when you pay the balance in full by the due date on each statement. Please note that interest-free days do not apply while you are carrying a balance transfer debt.
Foreign transaction fees. If you use your Citi Premier Card to make a foreign transaction, the standard 3.4% international transaction fee will apply.
Additional cardholders. You can get up to 4 additional cardholders over the age of 16 for no extra cost. Note that you'll be responsible for managing the account and all charges that are added to it.

Sources

Citi Premier Credit Card TMD

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Gary

January 09, 2019

What is the conversion rate if I would like to convert the Citi rewards point to Kris Flyer?

Jhezelyn Finder

January 10, 2019

Hello Gary,

Thank you for your comment.

The conversion is 1 Citi Mile to 1 KrisFlyer Mile (or 5 Citi Points to 2 KrisFlyer Miles).

Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

Regards,

Jhezelyn

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Robert

June 18, 2017

How many Qantas points do I get for each Citi Reward Point? Do the rewards points change per $ spent after 30 June 17? Is there an international transaction fee for overseas purchases? I already have a Citibank Visa debit card – does this effect me in any way?

Jonathan

June 18, 2017

Hi Robert!

Your existing Citi Reward Points cannot be converted to Qantas. Qantas Points are earned in accordance with the Citibank Qantas Rewards Program and you need to contact them to switch you over.

Qantas point per dollar is:

1.5 point for all eligible International Spend;

1.5 point for selected domestic purchases made and booked directly from a range of major: restaurants and restaurant chains, hotel chains and airlines (flights only);

1 point for selected domestic purchases made at major: petrol outlets, supermarkets, and national retailers;

0.5 point everywhere else on domestic eligible transactions

As for the changes this year, we have a full list of how every Australian bank will change its rewards program for your guidance.

Hope this helps.

Cheers,

Jonathan

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Lorraine

October 05, 2016

We are planning a 5 day (round trip) cruise from Fremantle WA and have paid for it on our Citibank signature card. Are we covered for complimentary travel insurance?

May Finder

October 06, 2016

Hi Lorraine,

Thank you for your question.

Just to confirm, are you travelling outside of Australia? If so, with your Citi Signature Rewards Credit Card, you are covered for international travel insurance at no cost to you. Please feel free to read our Citibank complimentary insurance guide where you can find more details about the complimentary travel insurance attached to your Citi Signature Rewards Credit Card.

Hope this has helped.

Cheers,

May

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Bernard Joffe

August 17, 2016

I am currently a citibank rewards cardholder – Can I apply for the signature card?

Chester

August 17, 2016

Hello Bernard,

Thanks for your question.

Yes you may as long as you meet the specific criteria set by the credit card issuer. Please note that you must have an annual income of $75,000 and your credit rating must be in good standing.

Required documents are:

Required documents

* Personal information. Your name, age, address, and contact details will be necessary to complete the application.

* Employment. Have your employer’s contact information ready.

* Income. Using tax forms or your current pay slips, you will need to disclose your current income.

* Proof of identity. Identifying documents include an Australian driver’s licence, passport, Medicare card or birth certificate.

You may also feel free to contact Citibank for more info.

I hope this helps

Cheers!

Chester

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Trudy

August 08, 2016

Can the points be used for airlines affiliated with Qantas such as Emirates?

Ron

October 06, 2016

Why does the Qantas signature Card program Cost an extra $49 to sign up to (is this payable if you are already a Qantas FF member). Also if the conversion rate for the Citi Signature card to Qantas FF is 1:1, why is the bonus point sign on to Citi Qantas signature Card only 50,000 points instead of the 75,000 for the Citi Signature Rewards Credit Card.

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May Finder

August 09, 2016

Hi Trudy,

Thanks for your inquiry.

Yes, Emirates airlines is a partner of Qantas and you can redeem for flights with Emirates using your Qantas points.

Cheers,

May

Citi Premier Credit Card

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