• long running

Citi Prestige Credit Card: 250,000 Citi Rewards Points ($10,000 Spend in 90 Days), 6 Months 0% Interest BT, $700 Annual Fee

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Citi Prestige Credit Card: 250,000 Citi Rewards Points ($10,000 Spend in 90 Days), 6 Months 0% Interest BT, $700 Annual Fee
Go to Deal
Pgreenslade on 29/10/2024 - 18:42 www1.citibank.com.au (2574 clicks)

I was looking for this deal on ozbargain, saw it was marked as expired, but actually it's active again.

Copying from last deal: https://www.ozbargain.com.au/node/866040

Same points bonus 250,000.

Key Points:
$700 annual fee
250,000 Citi Rewards Points when you spend $10,000 on eligible purchases within 90 days from approval.
Points redeemable for $1,250 in FlyBuys Dollars, $550 profit after annual fee.
$20,000 minimum credit limit, $100,000 maximum - although I applied for the max limit possible and was approved for the minimum, exactly $20,000 limit and told I can't apply for higher until 6 months in. Unsure if this was normal practice with Citi or specifically with me.
6 months interest free on balance transfers made within the first three months from approval (up to 80% of credit limit) with no balance transfer fee.

The $10,000 minimum spend can be met via Citi PayAll to yourself (for 0.95% fee).

Even with the reduced bonus points and erosion of other benefits over time I think this is still one of the best cards on offer at the moment:

bonus points yield $1,250 in FlyBuys Dollars (I normally buy 4% off Coles gift cards with a rewards card - ~1% extra value - so I value at 0.95 x $1,250 = $1,187.50)

The balance transfer can go into a bank account or mortgage offset so one could do this on activation and then 85-90 days in to get another 6 months of interest free (as the interest free period counts from the date of transfer when this is done within the first 3 months). on a 20k limit, an initial balance transfer of 80% ($16,000) with minimum repayments of 2% (and then restarting 3 months in) yields an average balance of around $15,000 over the nine months. In a mortgage offset of 6% this will save 9/12 x 0.06 x 15,000 = $675 in interest. In a savings account at 5.5% interest this yields $618.75 (before tax).

Using the mortgage example, with an annual fee of $795 (including PayAll fee) and main benefits of $1,862.50 this nets out to $1,067.50 which I think is pretty great for just one card. Plus premium benefits like unlimited priority pass, $100 Uber credit etc.

Keeping in mind if you can get a hold of a higher credit limit this becomes far more lucrative.

Financial Credit Card MasterCard Reward Points

Related Stores

Citibank Australia
Citibank Australia

Comments

      • Johnx on 05/11/2024 - 15:51

        Yeah but using it like he/she does is what made AMEX ban the credits and make it lounge only

    • 6079 Smith on 30/10/2024 - 08:46
      +1

      It never occurred to me that I could buy a hoodie. Well done!
      I cancelled the card on Thursday about my PP account still seems to be active so might see how much more I can get from it.

      • a1234my on 30/10/2024 - 13:24

        Please report back how long will the PP membership die out. TIA

        • 6079 Smith on 30/10/2024 - 17:32
          +1

          End date on the PP card is 11 Nov which must be 12 months from when I activated it, I assume as long as the card shows in the app it works

        • Jj456 on 07/11/2024 - 19:22
          +1

          Mine died a few days after cancelling

        • 6079 Smith on 14/11/2024 - 15:55
          +3

          Citi Prestige Cancelled - 24th Oct
          Priority Pass Card 'expired" - 11th Nov
          Priority Pass Card "renewed" for another 12 months - 12th November
          PP Card used to purchase terrible schnitty roll at ADL - 14th Nov

          • a1234my on 14/11/2024 - 17:29

            @6079 Smith: Wow. Long live

          • CodeXD on 14/11/2024 - 17:48

            @6079 Smith: Did you get any bonuses for renewing? Any reason in particular for cancelling and then renewing a month later?

            • 6079 Smith on 14/11/2024 - 18:20
              +2

              @CodeXD: I didn’t renew, PriorityPass just did it automatically. Citi card is well and truly cancelled.

    • AG_ACT on 30/10/2024 - 08:55

      Can you officially use priority pass when you land, or are you just chancing it?

      • realaccount627465746 on 30/10/2024 - 10:28
        +3

        just need to have a boarding pass. every time i've used it they just ask for a flight number don't even sight a pass. doesn't mention prior to flight anywhere i doubt the stores care they get paid anyway, same reason they don't care about imaginary guests.

        can be an issue accessing them if they're after security depending where you get dumped out on arrival.

      • 6079 Smith on 30/10/2024 - 17:34
        +1

        I’ve found often the language, especially for Landside lounges or dining outlets, is “same day boarding pass required”
        Doesn’t say which direction

        • heytherehoney on 30/10/2024 - 20:58

          This is a good point - I've always assumed it had to be pre-travel so I've never tried it on landing (I get asked for a boarding pass 50% of the time I'd say). Worth a shot next time.

      • hotdish on 31/10/2024 - 16:35

        In your account (the app) it says unlimited visits…I've had this for two years, never had issues. It's not like I'm going to the airport with fake boarding passes … It doesn't say in the terms and conditions you can't use it on arrival.

    • cktftw on 30/10/2024 - 10:14

      What type of priority pass do you get with Amex Platinum?
      Same?

      • dealstacker on 31/10/2024 - 21:36

        Similar with the exception that you can’t use it for dining credit at restaurants. The AMEX does have another PP for one supplementary cardholder.

        • fozzie on 06/11/2024 - 23:19

          My understanding is that Amex also allows all the additional card holders to use the lounges.

    • CodeXD on 30/10/2024 - 13:33
      +1

      When I travel through Melbourne I stop by the brewery (Virgin terminal) and use my $76 on t shirts and hoodies lol.

      Is the brewery "stomping ground brewery and beer hall"? I googled Melbourne Airport Virgin terminal and got T3, and then checked my priority pass app for places in T3.

      I'm heading over to Melb over Christmas so would be a good chance to use PP more.

      • hotdish on 31/10/2024 - 16:19
        +4

        Yeah mate Stomping ground! Even when I fly with Qantas (different terminal), if I have time I'll walk over to the other terminal (15 mins) and use my $72 of credit there. They don't care what airline you're flying with - they don't care you're flying in another terminal. Priority pass just needs a valid flight that day. That's it.

        • CodeXD on 31/10/2024 - 17:51
          +1

          Cheers! Can't wait to stomp those grounds real good

          • timhn on 04/11/2024 - 08:33

            @CodeXD: Oh man, having the FFL premiere card and travel few times a year thu T3 but didn’t know about this. I usually save pp for international travels.

    • nightelves on 01/11/2024 - 05:43
      +2

      Are the hoodies any good at the brewery? Didn’t know you could get merch. That’s next level.

    • fozzie on 06/11/2024 - 23:21

      Why is it $72? I thought it was $36? Also any hacks for Sydney airport? Cheers

      • CodeXD on 06/11/2024 - 23:36

        $36 per person, so if you "bring a guest" then it is $36 x 2 = $72

        • fozzie on 06/11/2024 - 23:57

          Ahha do you get some random guests if travelling alone? lol

          • CodeXD on 07/11/2024 - 00:21
            +2

            @fozzie: When I'm ordering at eligible restaurant I just say ordering with a guest, they've never asked for proof.

            • fozzie on 07/11/2024 - 16:10

              @CodeXD: lol genius

              • CodeXD on 07/11/2024 - 16:52
                +1

                @fozzie: Having said that, don't be wasteful and order what you can eat, not just cos it is free.

                • fozzie on 07/11/2024 - 16:59
                  +1

                  @CodeXD: Not at all just curious how it worked. Anyway I hope in the future to use with family, but I might have a trip by myself after Xmas where I would like to make use of the pass.

    • HiDave on 16/11/2024 - 12:01
      +1

      Thank you @hotdish! Your post was my motivation to proceed!
      I got apporved :)

      Very happy especially after strangely beening denied by ANZ last month.

      If I see you at the airport, lunch is on me haha

    • Pooman91 on 22/11/2024 - 00:11

      Do they need to scan a boarding pass for the guest or could you just say your guest is in the toilet to get the additional $36 credit?

      • hotdish on 23/11/2024 - 08:11

        They just ask for a flight number and sometimes they ask to see your boarding pass. If I ever get pushback I just say my wife is changing diapers or some BS. I've never been knocked back. It's easy money for them.

        • yht on 23/11/2024 - 13:47

          Don't quite get it. Why would you need to say that you are bringing a guest, if you don't have ? You can use the credit for next one right ?

          • CodeXD on 23/11/2024 - 14:13
            +1

            @yht: If you go to a store, would you rather have $36 of free money to spend, or $72?

            • yht on 23/11/2024 - 16:26
              +1

              @CodeXD: But you only have 1 stomach

  • hiaaron on 30/10/2024 - 06:20
    +1

    I have this one. You can usually ask for a waiver of the annual fee, and then they halve it depending on your expenses over the year. It was great when Payall was free, you could earn lots of points that could easily offset the annual fee.

    • greenslade on 30/10/2024 - 10:18

      Interesting. I'm curious, when do you ask for the waiver? when you open the account, or when you negotiate to discuss closing the account, or just any time?

      • realaccount627465746 on 30/10/2024 - 10:45
        +2

        if you discuss closing it they can't negotiate, they just have to close it.

        when the anniversary is close then ring and ask about the fee and waiving it

        • nightelves on 01/11/2024 - 05:44

          Wow did not know you could do that either. I’ll definitely try that for next af.

        • Kibbelhs on 05/11/2024 - 11:36

          They charged me the fee in my first month's bill, how to waive it nearing anniversary?

        • CodeXD on 05/11/2024 - 11:41
          +2

          When I did this earlier this year, they told me that they cannot do anything before it has been charged. I had to call them after I see the annual fee charge in my account and then call them up for about waiving it. I got $350 back as 'good will' but they said they won't be able to do it a second time.

          Make sure you don't use the card after being charged the annual fee if you plan to close account if they don't provide any discount. This way you can say you've never used any benefits in the second year since being charged and get that full amount refunded.

    • muzzamo on 30/10/2024 - 10:52

      I was able to get it halved when going into my second year, but going into my third year they wouldn't budge. Called back several times etc. I've still got payall going so as you say for third year i will earn ~$1200 in gift cards to offset the annual fee.

      I've also used it for the luxury escapes 4th night free deal, it's ok although the inventory at luxuryescapes is often a bit dearer to begin with than going through hotels direct etc.

  • ellave on 30/10/2024 - 07:26
    +2

    What exactly is Payall? Is it just a cash advance but without the usual high cash advances fees??

    • h4lcyon on 30/10/2024 - 12:35
      +1

      Yeah basically cash advance, I think the fee is 1 or 2% now (used to be free)
      https://www1.citibank.com.au/offers-benefits/PayAll1

      • fozzie on 06/11/2024 - 23:27

        If you still earn points it would be worth it to use to get points at less then 1 c each then when you need them for travelling? So for example if I need 20.000 I could use PayPal and get 20.000 at $180? Is my calculation correct?

        • h4lcyon on 07/11/2024 - 13:07

          Let's do the mafs.

          Borrow = 20,000
          Upfront fee = $190 (0.95% * 20,000)
          Points = 20,000
          Point to dollar redemption rate (using gift cards) = ~$0.00479
          Value redeemable using 20,000 points = $95.8 ($0.00479 * 20000)

          Outcome = ~50% loss of value. Bank wins again.

          • fozzie on 07/11/2024 - 13:49
            +1

            @h4lcyon: Oh yes, makes sense cheers. 2 points are the equivalent of 0.5% off really while you pay 0.95.

          • realaccount627465746 on 16/11/2024 - 12:45

            @h4lcyon: $20k in the offset account for a month might save you $100 in interest making it just a waste of time rather than time and money

        • h4lcyon on 07/11/2024 - 13:08

          Also if you don't repay the borrow before statement is due you pay the 22% (or whatever the card rate is) on the outstanding balance.

  • retnup on 30/10/2024 - 07:59

    Any ideas if annual fee can actually get halved or waived upon request? And eligibility, what kind min salary would you require for this? Churning from ANZ black which I'll be closing soon and looking at next options

  • HuntnBrew on 30/10/2024 - 08:23

    Has anyone activated the travel insurance ? To be eligible you must have a return overseas travel ticket which means an air or cruise ticket departing from and returning to Australia. I have purchased single ticket overseas i,e oneway. If i purchase another single ticket back to Australia, i take it i am not eligible ?

    • 6079 Smith on 30/10/2024 - 08:49
      +2

      Generally they just mean you have a return date to Australia prior to leaving rather than it being an open ended trip, they don’t care if it’s on the same PNR or not

  • clause on 30/10/2024 - 08:55
    +1

    I've recently applied and currently holding the citi premier one, will I still be eligible for the bonus points if I apply for this card? Thanks!

    • realaccount627465746 on 30/10/2024 - 11:28
      +1

      yeah i've churned the premier twice while holding this card

  • UWK on 30/10/2024 - 09:26

    Sorry a stupid question because I never knew that BT could go towards your offset account.

    This Citi card offers:

    Citi Clear Credit Card
    0% p.a. | 28 Months on BT

    It has a minimum limit of 2k and upper limit of 100k. Would this card not be better for mortgage offset? Unless there is something special about the Citi Prestige Credit Card BT?

    • dealstacker on 30/10/2024 - 13:52
      +2

      That card has a 3% balance transfer fee.

  • vikaskamboj on 30/10/2024 - 09:37
    -1

    With current level of inflation 10k in 90 days is so doable.. they should raise their criteria for the card to be considered prestige 😄

  • cktftw on 30/10/2024 - 09:48

    Can anyone help confirm whether this card's points can be transferred to Cathay Pacific Asia Miles?
    Some websites say it does but Citi's website only lists 3 options (SQ, flybuys and Virgin)

    • h4lcyon on 30/10/2024 - 11:25
      +2

      Looks like it. Here is what I see in the portal for points transfer.
      https://ibb.co/yn8SbMr

      • cktftw on 30/10/2024 - 12:48
        +1

        Cheers

    • Kods on 31/10/2024 - 18:22

      Yes it does, I have been doing it for the last 2 years.

  • Davelovesdealz on 30/10/2024 - 10:25

    mmm - is the BT still 0% with spending on the card? How would I do the transfer on day one of owning the card and get the 250k points….

    • dealstacker on 30/10/2024 - 15:23

      The BT is 0% always, but spending with the BT is not. Payall would be charged interest from the date of payment. Best to do the payall first for $10,000 to get the bonus points. Once the payall goes through, pay it back and then do the balance transfer.

      • boq on 18/11/2024 - 08:23
        +1

        So minimum spend first to get the points, then apply for BT for 6months 0%?

  • neme on 30/10/2024 - 10:34

    Citi is the only institution that knocks me back and I can't figure why. I'm earning 150k+ annually and I pay an extremely discounted rent (family member owns the house) with no other high limit cards.
    I churn several cards every year, but so do most of you? 760 credit rating, though.

    • Homr on 30/10/2024 - 12:16

      how many is several? If you churn once every 2-3 months then you might have a problem.

      I got knocked back before when I churned within 3 months.

      • neme on 30/10/2024 - 12:45

        Yeah every 2 months or so. I'll wait a bit before applying for this one again then.

        • Homr on 30/10/2024 - 13:53
          +3

          Yeh every 2 months is too soon. i would aim for 4 churns max per year which is once every 3 months.

    • nightelves on 01/11/2024 - 05:47

      800+ credit score seems to be the sweet spot for Citi.

      • neme on 01/11/2024 - 10:44

        Yeah I find it hard to get there as I have very few bills in my name, and I churn a bit too much. I did get the Citi Ready Credit thing approved once, though

        • nightelves on 01/11/2024 - 10:50
          +1

          Sign up to Illion so you can track when credit cards gets closed or see if there's one that you have closed but have not been recorded. It's probably the best way to churn and get an idea if the banks will approve you or not.

    • Major Packer on 01/11/2024 - 12:06

      I make similar income, have a home loan, credit score 890+ and got approved

      • Vuvilicious on 14/11/2024 - 15:07

        Which credit score agency do you guys check against for the 800+? As I feel like it varies so much between equifax/experian and illion for me - with equifax being the lowest out of the 3

  • Drakesy on 30/10/2024 - 14:30
    -4

    WHY IS THIS GETTING UPVOTED?

    This is a trash deal imho.

    • dealstacker on 30/10/2024 - 15:25

      Churning this card yields over $1,000 profit in gift cards and interest through the points and balance transfer alone for anyone with a PPOR mortgage, and close to $1,000 for anyone else. Few cards come close to that

      • Drakesy on 30/10/2024 - 18:24
        -2

        ANZ, AMEX all have offers better than this and they don't require a spend of $10k.

        • dealstacker on 30/10/2024 - 22:00

          What cards are you referring to?

          The AMEX offers are all awful at the moment. Platinum is 150,000 points which is only worth $750 with an annual fee of $1,450, although it does come with other benefits which cannot be converted to an exact dollar amount. Even at higher offers of 300,000 for the platinum it barely breaks even with the annual fee.

          ANZ Rewards Black card offer is great netting approximately $600 after fees for the sign up bonus but it isn't better than the Prestige considering it nets $1,000. The required spend for the Prestige is effectively zero due to PayAll, detailed in the original post.

  • Trying2SaveABuck on 30/10/2024 - 14:44

    Someone want to explain balance transfers to me like im 5 y.o

    • dealstacker on 30/10/2024 - 15:38
      +4

      A balance transfer traditionally transfers a debt or 'balance' from one credit card to another. Banks offer promo periods of low or no interest and a small or no fee, for you to move your lucrative (for them) credit card debt from another bank (card A) to theirs (card B). Functionally this occurs by the new bank paying out the balance of card A, and then charging that to card B. If you have credit card debt this can save you thousands in interest. However, because the bank is just paying whatever sum of money you ask to card A (you don't need to prove you actually have any credit card debt/balance) you can give yourself interest free cash by requesting one to a card without any debt to put card A into a credit (surplus) balance, then get that credit balance refunded to you in cash. You can then earn interest in a savings account or home loan offset with this. Citi is attractive in particular because they uniquely offer the balance transfer funds to be sent to a BSB and account number directly, negating the need for a card A.

      Considerations for balance transfers with other cards:

      they can come with either interest (usually 0-3%) or one off establishment fees (usually 0-3%)

      Some cards require closure for the credit balance to be paid back to you, like ANZ. So ANZ would not be an ideal card A if you wanted to keep it open.

      Some banks like NAB are picky with who they abalone transfer to. for example they will not balance transfer from AMEX cards.

  • bp1984 on 30/10/2024 - 16:00

    international transaction fee of 3.4%??? 🙀

    • h4lcyon on 30/10/2024 - 16:04

      This is a card you only use locally, there are other cards better suited for international transactions.

      • bp1984 on 30/10/2024 - 16:04

        yes makes sense

  • Major Packer on 30/10/2024 - 18:23

    Do you earn the 250,000 Citi Rewards Points in the second year? If not, can anyone share strategies to get $700 back if I only travel and use the PP a couple of times a year?

  • itzSTARSCREAM on 30/10/2024 - 21:22

    How long does it take for the bonus points to appear? First statement?

    • dealstacker on 30/10/2024 - 22:01
      +1

      First statement for me.

  • Major Packer on 30/10/2024 - 22:44

    Can the additional card holder also get PP?

    • dealstacker on 31/10/2024 - 08:02
      +1

      No

    • fozzie on 08/11/2024 - 16:04

      Only Amex platinium allows you

  • mengqing on 31/10/2024 - 23:27

    Anyone know if you can apply the card under a business?

  • b00tyman on 01/11/2024 - 11:28
    +1

    I had a prestige card previously <12months
    Would i be able to apply for this and be eligible for the bonus points?
    Couldnt see it in the T&C's like other bank cards stating minimum 12months

  • CaptainAwesome on 02/11/2024 - 16:48
    +1

    Is this ok to pay a tax bill to be eligible for the 10k spend?

    • twistedbow on 02/11/2024 - 21:36
      +1

      You can transfer to your bank account using payall which does count towards your minimum spending requirement.

  • twistedbow on 02/11/2024 - 21:35
    +1

    When using payall, don’t use it immediately you get the card. Put some generic spending like woolworths then use payall. My account got temporarily blocked because citi thought my account was hacked.

  • abu77 on 03/11/2024 - 08:45
    +1

    BT conditions makes this card very attractive, however had to warn you that the process is not straightforward.
    I got approved for 70k limit and it took me 3 weeks and 4 phone calls to finalize BT. Not sure if I want to do it again in 90 days to get full 3+6 months benefits or just keep it as is. Maybe not an issue with lower limits.

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