Citi Prestige Credit Card – Rates and Fees

Information verified correct on October 29th, 2016
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Receive 70,000 bonus points and get one card with access to two reward systems: the Citibank Prestige credit card lets you choose how to spend your points.

When you have the power of the Prestige card you get to choose between the Citibank Rewards Program or the Citibank Qantas Rewards Program—both offering you ways to make the most from your spending habits. The Citibank Rewards Program will give you 2 rewards points per dollar spent with no limit or give you 5 points per dollar when you use your card for international purchases, including online.

This credit card also offers a balance transfer offer of 0% p.a. for 6 months, allowing you transfer and repay your existing credit card debt interest free.

Product NameCiti Prestige Card
Rewards ProgramCitibank Rewards Program
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 April 2017
Annual fee$700 p.a.
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.
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.
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.
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.
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.
Annual Fee$700 p.a.
Late Payment Fee$10
Over Limit Fee$0
Cash Advance Fee3.5% of the transaction amount
Overseas Cash Advance Fee$5
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes


  • Earn rewards points per $1 spent with the Citibank Rewards Program.
  • Earn Qantas Frequent Flyer points per $1 spent if you opt into the program for $49 p.a.
  • Priority Pass. Cardholders get access to 700 domestic and international airport lounges worldwide


  • You have to pay an additional $49 p.a. to earn Qantas Frequent Flyer points
Rewards ProgramCitibank Rewards Program
Bonus Points on Sign-up70,000
Rewards Points per $ (VISA/MC)2
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

The Citi Prestige Credit Card Review

The unique perks that come with the Citi Rewards program make the Citi Prestige credit card a competitive offering. You are allowed access to a full range of airlines and hotels, or if you prefer, book your trip with the online booking service and find deals that save you even more. Citi Rewards will even allow you to pay with your points. With access to the Visa Luxury Hotel Collection, you’re invited to spend the night at any of the unbelievable 900 luxury hotels in their collection. Enjoy a glass of free wine with dinner when you dine with the Citibank Dining Program.

Rewards Program

If you’d prefer a more travel-focused program, check out the features of Qantas Rewards:

  • Citibank Qantas rewards - Every dollar spent on your card is rewarded with a Qantas Frequent Flyer Point which will be automatically transferred to your Qantas Frequent Flyer club every month.
  • Qantas Frequent Flyer store - Qantas also has a Frequent Flyer store online where you can trade your rewards in for products or vouchers.
  • Priority Pass membership - Gives you access to 700 domestic and international airport lounges worldwide. You can also bring 1 guest per visit who can gain access for a fee. Wait for flights in comfort with your unlimited access to the airport lounge.

Features of the Citi Prestige Credit Card

    • Interest rate for purchases - This card comes with an interest rate of 20.99% p.a. on purchases.
    • Interest rate for cash advances - The interest rate of 21.74% p.a. will be charged on cash advances.
    • Interest free period - You get up to 44 days to pay for your purchase before interest starts accumulating.
    • Credit limit - $100,000 is the maximum amount of credit offered.
    • Annual fee - The annual maintenance fee for this card is $700
    • Additional card fee - You are allowed up to 4 supplementary cards at no additional cost. You are still responsible for the purchases made on those cards.
    • Statement frequency - You will receive a statement either online or in the mail every month.
    • Late payment fee - If the total minimum payment due is not received by its due date, $10 will be charged, and will be charged again every seven days until a payment is made.
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How to apply for the Citi Prestige Credit Card

If you like the idea of choosing the rewards program that suits you, click ‘Go to site’ and be transferred to the secure application form. In order to be considered for the Citi Prestige credit card you must meet the following eligibility requirements:

  • Age - You must be at least 18 years of age.
  • Income - Your earnings must be at least $150,000.
  • Credit history - You must have a good credit rating.
  • Resident Status - You must be an Australian permanent resident or citizen.

In order to complete the application process successfully, you should be able to provide the following documentation:

  • Contact details - Proof of your residence
  • Proof of employment - Proof of your current employment along with contact information of your employer
  • Proof of income - This should include your total gross salary plus any other sources of income.
  • Expenses - Proof of your share of monthly expenses, including rental payments and utilities
  • Identity proof - A copy of your driver’s license (front and back)

If being able to choose your rewards is important to you, then the Citibank Select credit card should be a considerable option on your short list. Compare it with the other reward programs being offered to pick the one that fits with your lifestyle the best.

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4 Responses to Citi Prestige Credit Card – Rates and Fees

  1. Default Gravatar
    John | December 11, 2013

    Please advise what travel insurance cover is available when you hold a Platinum MasterCard to travel Internationally, and what is required from myself, or my travel agent to comply with the insurance company’s records.

    Thank you.


    • Staff
      Jacob | December 11, 2013

      Hi John.

      Thanks for your question.

      I have sent the Citibank description of insurance cover policy document to your email, please have a good read through this PDF before you purchase flights etc. You can find a detailed description of cover in this document.

      You’re covered for three months from the date of your departure from Australia if you charge the entire cost of a return overseas travel ticket to your card (not including taxes or airport or travel agent charges). You’re also covered if you pay for your flight with your Citi Rewards or Citi Qantas Points.

      I hope this helps.

  2. Default Gravatar
    brian | August 8, 2013

    i have a Citi select credit card.I was looking at getting another card that i can use for different transactions. I want to keep the transactions separate but pay the same way as per direct debit from my bank. can i get a Citi select card with a different number

    thanks Brian

    • Staff
      Shirley | August 8, 2013

      Hi Brian,

      Thanks for your comment.

      Yes this is possible, but you will need to have held your current CitiSelect card for 9 months or longer.


Credit Cards Comparison

Rates last updated October 29th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
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.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards 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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