Citi Qantas Prestige Card – Review

Information verified correct on September 23rd, 2016
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Maximise your Qantas rewards with a competitive earn rate and 70,000 bonus Qantas Points on the Citi Qantas Prestige Credit Card.

The Citi Qantas Prestige Credit Card is a super-premium rewards option designed for high earners. It currently offers a bonus 70,000 Qantas Points when you apply by 30 September 2016 and spend $5,000 in the first 90 days from account activation. With this card, everyday purchases also earn 1 Qantas Point per dollar spent.

As well as reward points for your spending, this super-premium frequent flyer credit card offers access to exclusive airport lounges, complimentary accommodation at some of the world’s best hotels and comprehensive travel insurance for you and your family. Find out more, compare your options and apply for the Citi Qantas Prestige here.

Product NameCiti Qantas Prestige Credit Card
Rewards ProgramQantas Frequent Flyer
Balance transfer rate (p.a.)0% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Purchase rate (p.a.)20.99% p.a.
Offer end date30 September 2016
Annual fee$350 p.a. annual fee for the first year ($700 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 44 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.
$30,000
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
Minimum Income$150,000
Card TypeVisa
Late Payment Fee$10
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover6 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$150,000
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.
$30,000
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$350 p.a. annual fee for the first year ($700 p.a. thereafter)
Minimum Repayment2% or $30
Late Payment Fee$10
Over Limit Fee$40
Overseas Cash Advance Fee$5.00 per transaction
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Rewards ProgramQantas Frequent Flyer
Bonus Points on Sign-up70,000
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (VISA/MC) CapUncapped
Points ExpiryNever

Citi Qantas Prestige Credit Card review

As Citibank’s top-tier rewards credit card, the Citi Qantas Prestige delivers on travel benefits and premium perks. But with a $700 annual fee (halved in the first year), you’ll need to make sure the features outweigh the costs.

Eligible purchases on the Citi Qantas Prestige Credit Card are rewarded with a competitive 1 Qantas Point per dollar spent. The 70,000 sign up bonus Qantas Points is also a sweetener for new customers. Other travel benefits include complimentary international travel insurance, Priority Pass membership, a complimentary night in a Citibank partner hotel and VIP transfers at select Asia Pacific airports.

Benefits of the Citi Qantas Prestige Credit Card

  • Bonus sign-up Qantas Points. Spend $5,000 or more in the first 90 days and get a bonus 70,000 Qantas Points. Your points will be credited to your Qantas Frequent Flyer membership in six to eight weeks.
  • Earn Qantas Points. Get rewarded with 1 Qantas Point per dollar spent on eligible purchases using the Citi Qantas Prestige Card. Note that you need to opt-in to the Citi Qantas Rewards program to earn Qantas Points.
  • One complimentary night in a hotel. Citi Qantas Prestige cardholders get one complimentary night’s stay in a premium Citibank partner hotel. Partner hotels include the Tokyo Grand Pacific, Mercure Sydney and Sheraton Abu Dhabi.
  • Luxury airport transfer service. Arrive for your flight in style with a complimentary one-way luxury transfer to or from select Asia Pacific airports twice per year.
  • Complimentary Priority Pass membership. The Citi Qantas Prestige entitles you to unlimited visits to any Priority Pass lounge in the world. You can also bring a guest with you free of charge. Just activate your Citi Qantas Prestige Card to receive your Priority Pass membership.
  • Complimentary golf club green fees. Enjoy three complimentary green fees at participating golf clubs around the world each calendar year.
  • Balance transfers. Transfer your credit card debt to the Citi Prestige Card and pay 0% p.a. interest for 6 months. You can use up to 80% of credit limit of your available Citi Qantas Prestige Card credit limit towards a balance transfer, and you can transfer balances from up to 4 other non-Citi credit cards. At the end of the balance transfer promotional period, any remaining debt will accrue interest at the cash advance rate of 21.74% p.a.
  • Complimentary insurances. You and your family could be covered with international travel insurance for up to six months when you charge the cost of your return overseas travel ticket to your Citi Qantas Prestige Card. This card also offers interstate flight inconvenience insurance, transit accident insurance, purchase cover insurance and extended warranty insurance.
  • Interest-free days. This frequent flyer credit card offers up to 44 days interest-free on purchases when you pay your balance in full for every statement period. Cash advances and balance transfers are ineligible for interest-free days.

Features of the Citi Qantas Prestige Credit Card

  • Annual fee. The Citi Qantas Prestige Credit Card offers a reduced annual fee of $350 in the first year ($700 thereafter).
  • Citi Qantas Rewards fee. Citi Qantas Rewards has an annual program membership fee of $49.
  • Guaranteed pricing scheme. Get reimbursed up to $500 if you buy an eligible item with your card and find it at a lower price in another store within the same geographic area.
  • Purchases interest rate. The standard purchase rate for this card is 20.99% p.a. (variable).
  • Cash advances. Cash advance transactions are charged at 21.74% p.a. (variable).
  • Minimum repayment. You’re required to repay at least 2% of your Citi Qantas Prestige Card balance each month, whichever is higher.
  • Late payment fee. Citibank charges a $10 late payment fee if you fail to make the minimum repayment by the statement due date.
  • Visa premium credit card benefits. As a premium Visa credit card, the Citi Qantas Prestige gives you access to a range of exclusive benefits, including a 24/7 concierge service, lifestyle, travel and entertainment offers and pre-sale and preferential tickets through Visa Front Line Access.
  • Visa payWave. This card is also Visa payWave-enabled. Tap and go without the need for a PIN when you make purchases up to $100 in value.

How to apply for the Citi Qantas Prestige Credit Card

Apply via a secured online application for the Citi Qantas Prestige Card. The application should only take up to 15 minutes and you will receive a response about the status of your application within minutes of submitting the form to Citibank. Before applying, check that you meet the following eligibility requirements:

Eligibility requirements

  • Age. You must be 18 or older.
  • Residency. You must be an Australian resident or citizen.
  • Credit rating. You must have a good credit rating.
  • Minimum income. You must earn at least $150,000 p.a. to be eligible to apply for the Citi Qantas Prestige card.

Required information and documents

Speed up the application process by making sure you have the following information handy:

  • Income and assets. Enter your employer’s contact information, your pre-tax income and income from other assets. You’re also required to provide your last two pay slips or bank statements if you’re employed part- time or full- time. If you’re currently self-employed or a retiree, you’ll need to enter your account’s contact information.  You’re also required to provide your last two pay slips or bank statements if you’re employed part-time or full-time. If you’re self-employed or retired, You’ll also be asked to provide recent tax returns. These documents can be faxed or emailed to Citibank.
  • Expenses and liabilities. Provide details of your ongoing expenses and any liabilities, such as loan balances, mortgage payments, rent and everyday bills.
  • Balance transfer details. If you wish to transfer a balance to the Citi Qantas Prestige Card, enter the name of the account, the card number and the amount you want to transfer from each account.
  • Identification. If you’re a new customer, verify your identity with Citibank to complete the application. You can complete this step by entering your driver’s licence number or passport number. Foreign driver’s licences and passports are also accepted.

The Citi Qantas Prestige Card has one of the highest Qantas point earn rates on the market. But with an annual fee of $700, it is also one of the most expensive cards around. Make sure you consider a range of Qantas frequent flyer credit cards so you can find the card that will give you the right combination of features and benefits for the right price.

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Credit Cards Comparison

Rates last updated September 23rd, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
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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.
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* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.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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