Citibank Rewards Credit Card – Signature Card
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Review: Citibank Rewards Credit Card – Signature Card
| Product Name | Citibank Rewards Credit Card – Signature Card | |
|---|---|---|
| Balance Transfer Rate | 1.5% p.a. for 15 months | |
| Interest Rate on Purchases | 20.99% p.a. | |
| Offer end date | 20 November 2013 | |
| Annual Fee | $199 p.a. annual fee for the first year ($395 p.a. thereafter) | |
| Interest Free Period | up to 55 days | |
| Interest Rate on Cash Advances | 21.74% p.a. | |
| Minimum 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.
|
$15,000 | |
| Max Credit Limit | $100,000 | |
| Minimum Monthly Repayment | 2% | |
| Credit Card Type | Visa | |
| Late Payment Fee | $10 | |
| Complimentary Travel Insurance | Yes | |
| Available to Temporary Residents | No | |
| Joint Application | No |
Live Big, Spend Bigger and Earn More
If the idea of getting access to a select number of premium airport lounger worldwide gets your heart pumping, then the new Signature Card from Citibank is bound to become your financial tool of choice when it gets released to the market.
Limited Time Bonus Points
Get Citibank Rewards Bonus Points when you join during the introductory period and rest assured your points never expire as long as your Citibank account remains open. You can use your points for travel, hotel bookings and even for a number of other things.
Concerned About Your Debt?
If your current credit card is riddled with debt then you can take advantage of the balance transfer deal offered with this card. It lasts for 15 months and you can plan your way back to living a debt-free life with the low interest rate of 1.5% p.a. for 15 months
How Many Rewards Points You Can Earn With the Signature Card
The new Signature card earns you the most bang for your buck. Basically the more you spend the more you earn and once you have a number of points you can cash them in for travels and accommodation and more.
- For ever $1 spent within Australia you earn VISA 4: International Purchases VISA 1.5: Domestic Purchases rewards points.
- If you spend money overseas you earn four bonus rewards points on every dollar.
- The Priority Pass™ membership is complimentary and allows you to access over 600 VIP airport lounges worldwide.
How Much Value Can You Get?
|
Benefits |
Signature |
|
Total value of extras |
$809 |
|
Minus annual card fee |
$395 |
|
Value after annual fee |
$414 |
Signature Card Features
The Citibank Signature Card is not cheap, but if you study the value proposition above you see that you actually get good value from using this card, provided you use it wisely as always.
- The annual card fee will set you back $199 p.a. annual fee for the first year ($395 p.a. thereafter)
- Supplementary cards are free
- Cash advance rate 21.74% p.a.
- Get up to 55 days of interest free shopping
- Standard interest rate 20.99% p.a.
Complimentary Purchase Cover Insurance - Lets you enjoy peace of mind. Get three months of complimentary insurance against theft, loss, and accidental damage for purchases made with your Signature card.
Complimentary Transit Accident Insurance and Complimentary International Travel Insurance – Travel with ease when you buy your tickets with the new Signature card. This cover includes trip cancellations, medical expenses, personal liability and loss or damage to personal items.
Emergency Card Replacement – You card is replaced within 24 hours in Australia and 48 hours if you are overseas.
Extended Warranty Insurance – Get up to 12 months additional warranty on personal items bought with your Signature card.
Read the Citibank Rewards Credit Card - Signature Card terms and conditions.
| Minimum Income | $75,000 | |
|---|---|---|
| Minimum Age | 18 years of age | |
| Available to Temporary Residents | No | |
| Credit Rating Requirement | 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. | $15,000 | |
| Max Credit Limit | $100,000 |
| Annual Fee | $199 p.a. annual fee for the first year ($395 p.a. thereafter) | |
|---|---|---|
| Minimum Repayment | 2% | |
| Late Payment Fee | $10 | |
| Over Limit Fee | $40 | |
| Foreign Currency Conversion Fee | 3% | |
| Gambling Transactions Allowed | No | |
| Additional Cardholder Fee | $0 | |
| Number of Additional Cardholders | 4 |
Pros
- You can earn 1.50 Rewards points per $1 spent which is more than the average 1 : 1 ratio which is standard across the market.
- An competitive 1.5% balance transfer rate for the first 15 months. This is a great option for people looking to consolidate their credit card debts and save on paying unnecessary interest.
- You get both complimentary transit accident insurance and complimentary travel insurance with this card.
Cons
- At the end of the balance transfer period, any amount you have not paid off will be charged at the cash advance rate of interest.
- An high annual fee of $395 (199 for first year) means you will have to use this card at every opportunity to make the rewards scheme cover the cost of the annual fee.
- There is a relatively high interest rate of 20.99% on purchases. Make sure you pay your account in full every month to take advantage of the interest free days on purchases.
Read the Citibank Rewards Credit Card - Signature Card terms and conditions.
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how do we obtain a priority pass membership we are going overseas in 9 weeks
Hi Judith
The Citibank Customer Service team can assist with this query if you are an existing cardholder
Cheers
Jeremy
How many rewards points for one Krisflyer mile??
Hi,
Thanks for the question. You can get1.5 rewards points per 1 Krisflyer mile. The minimum transfer is 15,000 Krisflyer miles.
Cheers
Jeremy
Hi this rewards program looks food at $1.00 = 1.5 points, when converted to velocity or Qantas what is the transfer rate, is it 1 for 1, Thanks
am existing citibank visa card and will be travelling last weekend of November 2012 to USA. could you please provide me the appropriate policy copy?
HI Amelia. Here’s the Citibank complimentary insurance terms and conditions PDF. Cheers,
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I have a citibank visa signature which has travel insurance included. we are going overseas next week. what paper work do we need to take. The holiday was booked with the card.
Hi Julie. Thanks for your question. The cover should be automatic provided you have met the eligibility requirements set out in the complimentary travel insurance product disclosure statement. Cheers.
Please clarify
•For ever $1 spent within Australia you earn VISA 4: International Purchases VISA 1.5: Domestic Purchases rewards points. Please explain as the Points earned for every $ in Aus is not clear
•If you spend money overseas you earn four bonus rewards points on every dollar.
•The Priority Pass™ membership is complimentary and allows you to access over 600 VIP airport lounges worldwide
Witch airline lounges are available and at what level – business or first class?
What is the advantage of this card over my existing Citibank Platinum card.
Hi Marek. Thanks for your question.
Earn 1.5 points for every dollar spent on eligible purchases in Australia. 4 points are earnt for every dollar spent on eligible international purchases. On top of this, when you shop with a Citibank bonus partner, you’re eligible for a further three points. According to the Citibank Rewards Credit Card terms and conditions: ‘Standard Membership includes one complimentary visit to a Priority Pass lounge and you will automatically receive a second complimentary visit which you may use by presenting your card at the lounge. The first two visits within each 12-month membership period are complimentary to the primary cardholder only, after which any additional visits by you and any visits by your guests will be charged directly to you by Priority Pass at their ordinary price. Unused visits cannot be carried forward to the following membership year. The total number of complimentary visits will be reset two at the beginning of each membership year while you remain a Signature cardholder. Please note that Priority Pass is not currently available at any Australian airport other than Melbourne International Airport.’
Thanks for your question.
Is there yearly or monthly points cap?
how many points can be earned in a year?
is there a point reduction when reached a level?
Hi Blake,
this is a great question.
There is no monthly or yearly points cap with the Citibank Rewards Credit Card – Signature. There is also no point reduction after reaching a certain level of points.
I hope this helps!
Marc.
Please note that Priority Pass is not currently available at any Australian airport other than Melbourne International Airport.’
Cairns international is a priority pass, “The Reef Lounge”
Hi Blake,
thanks for your comment.
This is absolutely correct. The Priority Pass is available at both Melbourne International Airport’s ‘United Club’ and Cairns International Airport’s ‘Reef Lounge’.
Marc.
I have this card,
It is really good, the priority pass is a good benefit, also the free travel insurance, unlimited frequent flyer points would be one of the only cards that do this. Most others cap out.
I had a bit of a bender weekend and citibank rang up to make sure that I hadn’t gotten my card stolen..
good service.
My wife & I are travelling to Bali for 2 weeks I have Signature Credit card & my wife has a supplementary card attached to mine.
Would the complementary Travel insurance be enough? Some of the travel has been booked with my card & some with my wife’s ? Regards, Ian Timewell
Hi Ian. Thanks for your question. According to Citibank, ‘Citibank Select and Citibank Rewards Credit Card – Signature Cardholders are eligible for International Travel Insurance, if their travel is for no more than six (6) consecutive months or less and when prior to leaving Australia their overseas travel ticket (but not taxes or airport or travel agent charges) was obtained by one of the following methods: Cost charged to a cardholder’s Card …. ‘ A cardholder is defined as either a primary or supplementary cardholder under the terms and conditions. So if your wife is travelling with you and you booked the return ticket on your, or her, card, you will be covered. Please check the terms and conditions for further information – I have sent them to your email. Jacob.
Hi, I’m looking for a card that I can be joint holder with my wife, also I’m looking for a good rewards program? My wife is the primary income earner and we have a combined income of $180k, introduction offer of 50,000 rewards sounds great, but the $700 or $350 annual fees does not. Please advise.
Hi Angelo. Thanks for your question. Citibank do not allow two people to be joint primary cardholders. Please check this page for information on credit cards that allow joint primary card holders. Once you’ve checked this page, please compare this information with cards that offer a rewards program. Jacob.