The Citi Rewards Credit Card earns 1 Citi Rewards Point per $1 on eligible spending, which you can transfer to Velocity Frequent Flyer points or redeem for gift cards and other rewards. It also offers 80,000 bonus Velocity Points when you apply and get approved, then spend $5,000 in the first 3 months from card approval. For those seeking a large credit limit, this card offers up to $100,000, subject to credit approval.
Citi Rewards Card – Velocity Points Offer
Terms and conditions apply
- Bonus points
- 80,000
- Purchase rate
- 21.49% p.a.
- Reward point per $ spent
- 1
- Annual fee
- $199 p.a.
Our verdict
No longer available
The Citi Rewards Card - Velocity Points Offer is no longer available for new applications. However, we’ve kept the information online for the benefit of existing customers and for those who are interested. Check out the current Velocity credit cards here.
Pros
-
80,000 bonus Velocity Points
-
1 Citi Rewards Point per $1 spent
-
0% p.a. on balance transfers for 6 months, with no BT fee
Cons
-
Relatively high 21.49% p.a. interest rate for purchases
-
3.4% foreign transaction fee
-
$90 additional cardholder fee
Details
Product details
| Product Name | Citi Rewards Card - Velocity Points Offer - DISCONTINUED |
| Balance transfer rate p.a. | 0% for 6 months, then 22.24% |
| Balance transfer limit | 80% of available limit |
| Purchase rate p.a. | Purchase rate p.a. 21.49% |
| Interest-free period | Up to 44 days on purchases |
| Cash advance rate p.a. | 22.24% |
| Min credit limit | $2,000 |
| Max credit limit | $100,000 |
| Card type | Mastercard |
Eligibility
| Available to temporary residents | No |
| Joint application | No |
Rewards
| Rewards program | Velocity Frequent Flyer |
| Bonus points | 80,000 |
| Rewards points per $ spent | 1 |
| Rewards points cap | 10,000 |
Fees
| Annual fee | Annual fee $199 |
| Minimum monthly repayment | 2% of the closing balance or $30, whichever is greater |
| Late payment fee | $30 |
| Foreign currency conversion fee | 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 | $90 |
| 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.
Our expert says
"The Luxury Escapes discount on this card has saved us a small fortune! We've used it to save 10% on accommodation in Melbourne, Sydney, and even on a package to Bali. We've saved around $800, which is 4 times the annual card fee – and we got free travel insurance for using the card too."
Your reviews
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Amy Finder
Editor
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Sarah Megginson Finder
July 17, 2024
Hi Will,
No, the balance transfer does not count towards the minimum spend. Other spending that doesn’t count includes cash advances, online gambling, interest charges, fees and any refunds.
It can be tricky doing a balance transfer and trying to meet a minimum spend at the same time, because the “spending” you do impact the balance transfer benefits (as you’ll pay interest on the spending if you don’t pay your balance in full each month).
Hope this helps!
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nick
October 06, 2023
Hi, I previously had the 70,000 Velocity bonus points over 2 years ago when I closed my account. would I still get them again if I opened another credit card account today?
This is what is on their web page.
Customers who have previously received or are entitled to receive the 70,000 Velocity Points will not be eligible to receive another 70,000 Velocity Points. To be eligible to receive 70,000 Velocity Points, you must apply for the Citi Rewards Card by 31 October 2023, then spend a minimum of $5,000 on eligible purchases using your new card within 90 days from approval. Eligible purchases exclude Cash Advances, Balance Transfers, Special Promotions, interest, fees, refunds,
kind regards Nick.
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Amy Bradney-George Finder
October 08, 2023
Hi Nick,
You will need to contact Citi directly for this enquiry. Finder is a review site and we’re not directly affiliated with the bank. The general enquiries contact number for Citi is 13 24 84. I hope this helps.
Ritika
February 20, 2023
Can I pay my rent using this credit card ? I pay my rent using bPay as of now.
Amy Bradney-George Finder
March 03, 2023
Hi Ritika,
If you have bank transfer details for your rental property, you could use Citi PayAll. It’s a feature similar to a bank transfer, so you do need the Australian bank account details (rather than BPAY). Otherwise, Finder’s guide on options for paying rent with a credit card may help. Just keep in mind that paying rent with a credit card usually attracts a payment fee or surcharge. There is also a risk of interest charges that could lead to serious debt.
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Will K
July 17, 2024
Does the balance being transferred count towards the 5k thats needed to be spent to qualify for the bonus points? So if we transferred 3k would we still need to spend 5k or just 2k?
Thanks