Citi Rewards Credit Card – Platinum Card

Information verified correct on July 26th, 2016
Citi Rewards Credit Card - Platinum Card Find out more Go to site

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Take advantage of 0% p.a. on balance transfers for 24 months and complimentary insurances.

Apply for the Citi Rewards Credit Card – Platinum Card before the 31 December 2016 to get 24 months at 0% p.a. on balance transfers.

The account offers up to six months complimentary international travel insurance and access to Citi cardholder benefits, like the CItibank Dining Program. Pay a reduced annual fee of $199 on the first year ($249 thereafter).

Product NameCiti Rewards Credit Card - Platinum Card
Rewards ProgramCitibank Rewards Program
Balance transfer rate (p.a.)0% p.a. for 24 months with 1.5% balance transfer fee
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)20.99% p.a.
Offer end date31 December 2016
Annual fee$199 p.a. annual fee for the first year ($249 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 55 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.
$6,000
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 whichever is greater
Minimum Income$35,000
Card TypeVisa
Late Payment Fee$10
Foreign Currency Conversion Fee (VISA)3.3% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover6 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$35,000
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.
$6,000
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$199 p.a. annual fee for the first year ($249 p.a. thereafter)
Minimum Repayment2% or $30 whichever is greater
Late Payment Fee$10
Over Limit Fee$40
Cash Advance Fee3.5% of transaction amount
Overseas Cash Advance Fee$5
Overseas Emergency Replacement$0
Overseas ATM Balance check$0
Overseas ATM Withdrawal Fee$5
Foreign Currency Conversion Fee (VISA)3.3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$90 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Pros
  • This card allows you to enjoy a reduced annual fee of $199 on the first year, which reverts back to the standard $249 thereafter.
  • This card has balance transfer offer of 0% p.a. for 24 months.
  • This card comes with a personal budgeting tool that allows you to keep track of purchases and plan your spending.
  • You can stay protected with a complimentary travel insurance.
Cons
  • Even for as platinum credit card, an annual fee of $249 is fairly high.
  • Additional card holders come at a cost of $90 each.
  • When the balance transfer period expires, the interest charged on any outstanding balance will be charged at the higher, cash advance rate of interest.
Rewards ProgramCitibank Rewards Program
Rewards Points per $ (VISA/MC)1.25
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) Cap12,500
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

Citi Rewards Credit Card – Platinum Card review

Get extended interest-free terms on balances you transfer with the Citi Rewards Credit Card – Platinum Card. Plus, enjoy complimentary insurance and Citi Reward Points when using this card on eligible purchases. The Citi Rewards Credit Card – Platinum Card has the third highest annual fee from the range of Citi rewards cards. The Citi Rewards Card – Classic Card has a lower annual fee; however, you’ll miss out on some of the platinum benefits. This Citi Rewards Credit Card – Platinum Card review outlines the features and benefits of the product and will give you information on how to apply.

Benefits of the Citi Rewards Credit Card

  • 0% p.a. for 24 months balance transfer offer. Apply for the Citi Rewards Platinum Card before 31 December 2016 to get 0% p.a. for 24 months on balances transferred. You must elect to transfer a balance at the time you apply for the credit card to be eligible for this offer. Do take note that a 1.5% balance transfer fee applies.
    Citi allows up to 80% of your credit limit to be used towards a balance transfer. For example, if you apply for the Citi Rewards Credit Card – Platinum Card, and you’re approved for a credit limit of $10,000, you can transfer up to $8,000 from other cards and accounts. At the end of the 24 month introductory period, any unpaid balance from the balance transfer promotional period will be charged at the cash advance rate of interest, currently 21.74% p.a.
  • Transfer personal loan debt. Citibank is one of the few providers that allow you to transfer the balance of a personal loan to a credit card. Line of credit accounts can also be included in a balance transfer to the Citi Rewards Credit Card – Platinum Card.
  • Earn Citi Reward Points. If you’re approved for the Citi Rewards Credit Card – Platinum Card, you get access to the Citibank Rewards Program. Use the card to make an eligible purchase and you’ll earn 1.25 Citi Reward Points per dollar spent up to $10,000 per statement period for domestic purchases (making the annual cap of 150,000 points), and uncapped international purchases. Make an eligible purchase overseas, like when you shop online, and you’ll earn 1.25 Citi Reward Points per dollar spent. A currency conversion fee will apply in this situation. You can use your points to book flights and holidays through the Citibank Travel Program. The Citibank Rewards Program also offers a number of non-flight rewards and experiences. Check the Citibank Rewards catalogue for a list of redemption options.
  • Eligible for Samsung Pay. With the Samsung Pay application, you can now easily make payments by simply tapping your phone on the contactless terminal and get 5% cash back on the first $500 purchase you make with your qualifying Samsung device. Learn more here.
  • Complimentary insurances. Get unlimited cover for hospital and medical expenses and cover for up to $16,000 for personal belongings while you’re away with complimentary travel and medical insurance offered through the Citi Rewards Credit Card – Platinum Card. Transit accident insurance covers you and your family if you’re injured or killed riding as a passenger in a vehicle outside of Australia. Purchase protection insurance protects cardholders against loss, theft or damage to a covered item purchased with their Citi card – anywhere in the world. Limits and conditions apply. Citibank’s guaranteed pricing scheme refunds the difference in price if you use your Citi Rewards Credit Card – Platinum Card to purchase an item and you see it on sale for less somewhere else.
  • Activating the travel insurance. To activate the complimentary international travel and medical insurance, just purchase the overseas travel ticket with your Citi Rewards Credit Card – Platinum Card. You can also activate the insurance if you use your frequent flyer points to purchase the ticket. A minimum of 15,000 Citi Reward Points must be converted to frequent flyer points to activate the cover. All cardholders are eligible for the complimentary international travel and medical insurance, but if a family is travelling together, different benefits are available to different parties. There are a number of benefits payable for certain events — check the terms and conditions for further information.

Features of the Citi Rewards Credit Card – Platinum Card

The Citi Rewards Credit Card – Platinum Card offers features including:

  • Balance transfer offer. Get 0% p.a. for 24 months on balances transferred. The interest rate reverts to the standard cash advance rate at the end of the introductory period. Transfer personal loans as well as credit card debt.
  • Annual fee. The Citi Rewards Credit Card – Platinum Card has a reduced annual fee of $199 on the first year ($249 thereafter).
  • Reward Points earnings. Earn 1.25 Citi Reward Points per eligible dollar spent in Australia and 1.25 points per eligible dollar spent overseas. You’ll also receive access to the Citibank Rewards Program, Citibank Dining Program and Citibank World Privileges.
  • Interest-free days. Get up to 55 days interest-free if you’re not carrying a balance from month to month.
  • Complimentary insurances. Complimentary international travel and medical insurance, transit accident insurance, purchase security insurance and best price guarantee insurance are all offered with this account.
  • Additional cardholders. Add up to 4 additional cardholders to the account for a $90 fee each. Earn Citi Rewards Point faster with more cardholders spending on the one account.
  • Fraud protection. Citibank and Visa offer no liability agreements if you can prove you were the victim of credit card fraud.
  • Visa benefits. Access to Visa benefits like Visa Frontline Access, which gives you cheap seats to the hottest tickets in town. This account is also Visa PayWave enabled.

How to apply for the Citi Rewards Credit Card – Platinum Card

If you would like to apply for the Citi Rewards Credit Card – Platinum Card, you can do so using the “Go to Site” button on this page. The application should only take 10 – 15 minutes to complete and Citibank will contact you to verify the status of your application within moments of submitting the online form. Please refer to the following eligibility criteria before you apply:

Application criteria

  • Be 18 years of age or older
  • Have a good credit rating
  • Earn more than $35,000 p.a.
  • Be a permanent Australian resident
  • Have an email address

Required information

  • You have to provide your contact details, previous address, drivers licence
  • You’ll need to provide proof of employment such as payslips. You’ll also be required to submit your employer’s details and accountant’s detail’s if self-employed
  • You have to provide proof of assets and liabilities
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268 Responses to Citi Rewards Credit Card – Platinum Card

  1. Default Gravatar
    sarah | June 20, 2016

    when i transfer a balance to a new credit card, am i essentially closing down the original credit card account?

    • Staff
      Anndy | June 20, 2016

      Hi Sarah,

      Thanks for your comment.

      When you do a balance transfer, that does not automatically close your old credit card. Balance transfer just allows you to move your balance from an old card to the new one. If you’d like to close your old credit card after a successful balance transfer, you can find some helpful tips on how to do it on this page.

      I hope this helps.

      Cheers,
      Anndy

  2. Default Gravatar
    Chris | June 14, 2016

    Hi,

    does this mean you can also transfer a secured loan to this type of card also??

    • Staff
      Anndy | June 14, 2016

      Hi Chris,

      Thanks for your comment.

      With Citi Rewards Credit Card – Platinum Card, you can transfer your personal loan and line of credit balance to it. Please note that you must elect to transfer a balance at the time you apply for this credit card to be eligible for the 0% p.a. for 24 months balance transfer offer.

      Cheers,
      Anndy

  3. Default Gravatar
    Karen | June 2, 2016

    WE have a 4.5% loan on our original account and then we have just had a cash advance we would like to pay off quickly .
    Will the amounts being paid come directly of the high interest amount 21% cash advance ?

    • Staff
      May | June 10, 2016

      Hi Karen,

      Thanks for your inquiry.

      Sorry for the delayed reply. Generally, credit card issuers tend to charge different interest rates for purchases and cash advances. So the interest you’ll be paying for your cash advance is separate from the 4.5% loan interest you have on the card.

      When you use your credit card to make a cash advance, your card will automatically charge you a fee (typically varies in between 1.5% to 4%) and interest, which is usually very high, normally 20% p.a. or more.

      Whilst you have an easy access to cash with your card, you might as well be aware of the costs it charges, so it’s in your most interest to try and repay the money as soon as possible.

      Cheers,
      May

  4. Default Gravatar
    Paul | February 15, 2016

    Hi all,
    Can you please advise if my rewards points are capped to 12500 per year using the platinum card ?.
    If so is 12500 Qantas frequent flyer point the max we can get per year ?
    Cheers Paul .

    • Staff
      Jonathan | February 15, 2016

      Hi Paul, thanks for your inquiry!

      The points cap is up to $10,000 per statement period for domestic purchases. You will earn 1.25 reward points per $1 spent, although no Qantas Points can be earned on a Citi Platinum credit card from 1 April, 2012. Only Signature or Citi Prestige cardholders are able to use this feature. You may like to compare other Citi credit cards and consider the Signature or Prestige credit cards.

      Cheers,

      Jonathan

  5. Default Gravatar
    Cam | December 28, 2015

    Hi, can existing customers that have previously balance transferred from another bank complete another transfer?
    And if so do I have to go through the same checks or can I just have my account updated?

    • Staff
      Sally | December 29, 2015

      Hi Cam,

      If you’re an existing customer, you may be unable to take advantage of any balance transfer offers that are only available to new cardholders.

      Also, you’ll need to complete and submit a balance transfer form again before you can complete the transfer.

      I hope this has helped.

      Cheers,

      Sally

  6. Default Gravatar
    brendon | September 22, 2015

    I am a kiwi living permanently in hervey bay australia for the last 4 years. I do not have a credit rating in australia I have a perfect credit rating in NZ.
    I plan on transferring $15,000 of credit card debit
    at 0% to citi bank for 24 months.
    I meet all other criteria.
    will this be a problem ?
    Regards Brendon

    • Staff
      Jonathan | September 23, 2015

      Hi Brendon, thanks for your inquiry!

      Your credit file contains information on credit accounts (any financial accounts which are current and open), personal details and credit applications. Providing that you meet the application criteria you will be eligible to apply for this card. As we are a comparison service, for any further clarification on your approval it would be best to contact Citi directly.

      Cheers,

      Jonathan

  7. Default Gravatar
    frank | September 16, 2015

    Hi, I understand that I can 1.25 points per dollar spent with a cap of 250,000 points per year. Could you please advise what the rate is to transfer points to Thai Airways.
    Thanks Frank

    • Staff
      Jonathan | September 17, 2015

      Hi Frank, thank you for your inquiry.

      Please note that you’ve come through finder.com.au, not Citibank. Unfortunately, you can’t convert Citibank Rewards to Thai Airways as this is not included on their affiliate programs.

      For a comparison of other frequent flyer credit cards, kindly check this page.

      I hope this helps.

      Cheers,

      Jonathan

  8. Default Gravatar
    john.lavery | August 27, 2015

    Does this card get you into airline lounges for example the Qantas club or other lounges overseas?

    • Staff
      Sally | August 27, 2015

      Hi John,

      Thanks for your question.

      Unfortunately, the Citi Rewards Credit Card – Platinum Card does not come with Airport Lounge Access. Please kindly refer to this page should you wish to compare credit cards with Free Airport Lounge Access.

      I hope this has helped.

      Cheers,

      Sally

  9. Default Gravatar
    Ben | August 9, 2015

    I have Virgin Money Credit card. Which is financed by Citi Financial Group.
    Am I eligible to apply for CiTi Reward Credit Card – Platinum to transfer balances from other Australian Credit Cards?

    • Staff
      Sally | August 10, 2015

      Hi Ben,

      Thanks for your inquiry. Yes, you can transfer a balance from Virgin Money to a new Citibank account.

      Kindly review the How to Apply section on our Citi Rewards Credit Card – Platinum review page.

      It contains a list of criteria and requirements that will determine whether you are eligible for the CiTi Rewards Credit Card – Platinum or not.

      And if you apply on or before the 10th of January 2016, you will enjoy a 0% p.a. interest rate on balance transfers good for 24 months.

      I hope this answers your question.

      Thanks,

      Sally

  10. Default Gravatar
    Dianne | July 10, 2015

    Can I upgrade to the platinum card from my Citi rewards and access the 24 month 0%. Actually I am not sure whether I already have the platinum card?

    • Staff
      Jonathan | July 13, 2015

      Hi Dianne, thanks for your inquiry!

      Unfortunately this balance transfer offer is only available to new cardholders. Please refer to the following link for more 0% balance transfer credit card offers.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated July 26th, 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
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
Citi Qantas Signature Credit Card
Earn up to 70,000 bonus Qantas Points on eligible spend, plus enjoy a 0% p.a. for 6 months offer on balance transfers.
20.99% p.a. 0% p.a. for 6 months $99 p.a. annual fee for the first year ($395 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.
9.99% p.a. $0 p.a. Go to site More info

* 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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