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Citibank Simplicity Platinum Credit Card - 5% Cashback on Visa Paywave Purchases (First 4 Months, Max. $500 Cashback), No Annual

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Citibank Simplicity Platinum Credit Card - 5% Cashback on Visa Paywave Purchases (First 4 Months, Max. $500 Cashback), No Annual
Go to Deal
Lchill on 01/12/2015 - 21:45 citibank.com.au (1975 clicks)
Last edited 05/03/2016 - 14:39 by 4 other users

A handy card to keep as a backup even after the 5% cashback ends. Can then be used to take advantage of generous Citibank balance transfer offers and cheque to self feature.

Note that although the minimum income requirement is quite low Citibank will call your employer to verify so no exaggeration or making it up.

5% cashback on Visa payWave purchases (up to $500 back over the first four months)
Up to 55 days interest free on purchases
Free wine when you dine with the Citibank Dining Program
VISA Platinum Privileges
Personal 24 Hour Concierge Services

Minimum Income Requirement $35,000
No annual fee, ever.

Insurance
Complimentary Transit Accident Insurance
Complimentary Purchase Cover Insurance
Complimentary Extended Warranty Insurance
Complimentary Guaranteed Pricing Scheme

Cashback Terms and conditions
5% cashback can be earned on payWave purchases under $100 made in Australia for four months from account approval, up to a total of $500 cash back. Charge backs, refunds or fraudulent transactions are not eligible to receive cashback. Cashback will be credited to the approved account within 8 weeks after the qualifying purchases have been made. Offer is available to customers who submit their application by 15 January 2016 and activate their account by 15th February 2016 by 29 April 2016 and activate their account by 29 May 2016.

Financial Credit Card

Related Stores

Citibank Australia
Citibank Australia

closed Comments

  • CyberMurning on 01/12/2015 - 21:50

    no point system/reward?

    • chill on 01/12/2015 - 21:53
      +8

      5% cash back is quite rewarding from past experiences.

      • Gavman on 01/12/2015 - 22:10
        +8

        four months is jack all.

        • DeafMutePretender on 01/12/2015 - 22:28
          +3

          Your maximum cash back over the 4 months is $500. To get that, you'd need to spend $10,000 over that period. You would need to spend an average of $83.33 a day, every day (using 120 days as "T").

        • renster72 on 01/12/2015 - 22:35
          +1

          easy to spend hard to pay back

        • [Deactivated] on 02/12/2015 - 07:28

          @DeafMutePretender:

          Regardless - PayWave bonuses from ING and other banks do not have this limit.

        • fleetoiler on 02/12/2015 - 08:58

          @Michegianni:
          …nor do those offers exist any more. ING and ME stopped offering the 5% a while ago (and unless you cheat, its only once per person per bank!). You're technically correct but I'm predicting that well has dried up for good ;-)

        • Scrooge McDuck on 02/12/2015 - 10:37
          +4

          four months is jack all.

          Post a better alternative…?

  • retiredfeline on 01/12/2015 - 21:55
    -1

    Is the cashback reported as interest and therefore taxable income? It was for the 3 month promo earlier this year.

    • lawyerz on 01/12/2015 - 22:05
      +3

      cashback is not revenue, but rather more of a discount on purchases. AFAIK, there is no tax liability on cashbacks.

      • retiredfeline on 01/12/2015 - 22:21

        Cashback is a marketing term. The litmus test is how it is reported on the statement. However you may be right as there doesn't have to be a savings account associated with it as it was in the 3 month promo where it was reported as interest (this from the T&C for that offer, look up the discussion on this promo back in June I think).

    • [Deactivated] on 01/12/2015 - 22:10
      +1

      it's not income, it's a 5% discount off your bill. You don't actually get any money/income per se.

    • Gotchas on 01/12/2015 - 22:30

      You wish
      Then all your purchases would be considered an interest deduction thus incurring a loss

      • retiredfeline on 01/12/2015 - 22:33

        Wrong conclusion. But maybe you came in late. I refer you to the T&C for Citibank's previous 5% promo where they specifically state that the cashback will be reported as income.

        • Gotchas on 01/12/2015 - 22:37

          Did they send you a statement of interest earned?
          Did you have to provide a TFN?
          Did they withhold 48.5% for not providing a TFN?

        • retiredfeline on 01/12/2015 - 22:42

          @Peanut money: Here's the relevant comment. https://www.ozbargain.com.au/node/179025#comment-2499705

          Yes, I do get a monthly statement for the Plus account and yes they did also notify me by SMS the amount of cashback I got for each of those 3 months.

        • Gotchas on 01/12/2015 - 22:47

          @greenpossum:
          I meant a year end tax statement.
          No one brings a bunch of sms's to their accountant to do their tax

        • retiredfeline on 01/12/2015 - 22:50

          @Peanut money: I said "also". I'm sure it will be there in my statements or the interest pre-fill but as it's in 15/16 FY, I don't have to look until next year and I don't mind it anyway since I have arranged to minimise my income for this year.

        • naira on 01/12/2015 - 23:01

          You will know if it is reported as income once you lodge your tax return. ATO system will automatically show that, if not then it is not reported.

        • retiredfeline on 01/12/2015 - 23:33

          @naira: I think people would like to know ahead of time if their cashback will be devalued by their marginal tax rate.

        • lawyerz on 01/12/2015 - 23:33

          @naira: I have been using ING's cashback for nearly 2 years now, it did not appear when I did my tax filing with ATO for FY15.

        • retiredfeline on 01/12/2015 - 23:34

          @lawyerz: But as I pointed out, Citibank's previous promo was arranged differently, they said so themselves in the T&C for it.

  • Make it so on 01/12/2015 - 22:07
    +1

    Pity it has currency conversion fees.

    • sween64 on 01/12/2015 - 22:21

      As opposed to CitiBank Plus?

      • Make it so on 01/12/2015 - 23:04
        +2

        As opposed to Bankwest's Zero platinum card (also without annual fee, but no rewards).
        I use my Citibank plus for overseas ATM withdrawals only.

        • sween64 on 02/12/2015 - 02:27

          I use 28 Degrees as my OS CC.

        • Make it so on 02/12/2015 - 12:45
          +1

          @sween64: I used to. But they cancelled the fee-free ATM withdrawal, and after that it offered no benefits over my Bankwest card, so I got rid of my 28 degrees and got a Citibank Plus card.
          The Bankwest Platinum comes with travel insurance. Because it has no currency conversion fees, it is good when you need to buy a plane ticket is overseas currency to be able to qualify for the travel insurance.

  • lawyerz on 01/12/2015 - 22:08
    +14

    Long time Citibank customer here, be warned their service is absolutely terrible, their online and mobile banking system/apps is useless, especially if you are used to NAB/CBA/ANZ.

    But, that being said, not many credit card have no annual fee and some sort of points/rewards, even if it is just for 4 months. Only reason why I'm still with them for AUD purchases that can't go on my ING.

    • rexii2300 on 01/12/2015 - 22:22
      +1

      ditto. I got roped into Citibank's 0% balance transfer once. Never again, took me about 3 months and probably a whole week of my time all up to sort out wrongly charged interest.

      • brettd on 01/12/2015 - 22:58

        Hi rexii,

        I'm in a similar situation right now with wrongly charged interest, how did you get out of it?

        • rexii2300 on 02/12/2015 - 16:10

          so my situation is when they sold me the 0% balance transfer, the sales rep said I can still use the card for purchases. So I did and got hit with massive interest. This rep also promised me that the balance transfer and my retail purchase will be counted separately on my monthly statement, which never happened. So I used that as my argument against them since their sales rep was basically lying to get me to sign up.

          You have to get your issue escalated to a manager, the normal phone reps are beyond hopeless.

        • brettd on 02/12/2015 - 21:22

          ah ok cheers for that, I'm in a similar situation as well though the interest basically offset the savings on my home loan, did they have a recording of when you signed up?

    • sween64 on 01/12/2015 - 22:22

      Their iOS app has been updated recently and is much better. No log in required to see balance and last five transactions (optional of course).

      • lawyerz on 01/12/2015 - 23:26
        +1

        So is the android app - it is much better than before but still pretty bad. It feels much because their old app was as if it was designed in a basement in 1990. Compare it with NAB/CBA/ANZ app, and the flaws really show.

        It keeps logging me out of the 'snapshot' mode and asks me to reactivate it again. Transactions takes days before it appears anywhere online / in-app, there's still noticeable lag navigating within the app between the menus.

    • T-man on 01/12/2015 - 22:49

      couldn't agree more, the only reason I am still using them because there are no ATM fees when withdrawing overseas and keep their visa debit card as a backup when travelling abroad.

    • cmyk on 02/12/2015 - 08:49
      +1

      Agree 100%. Terrible and frustrating process from application to activation. Took 5+ phone calls to get it sorted. Not intuitive or user friendly vs other banks.

    • pseudobacon on 02/12/2015 - 09:55

      Ditto again. Filled out an online application for a Signature card 3 months later they tell me I have to go to AusPost to get my ID verified. Thanks for letting me know Citibank

  • DeafMutePretender on 01/12/2015 - 22:23
    +6

    Cashback will be credited to the approved account within 8 weeks after the qualifying purchases have been made.

    I can tolerate ME Bank's weekly cashback, but 2 months? and the 5% only lasts for 4 months? and I have to go through the trouble of asking my employer/boss to answer a call on my behalf? I'll stick with ING thanks.

    • AzzaD on 03/12/2015 - 07:32

      I faked my employer's phone number and they still approved my application :)

  • SnakeDoctor on 01/12/2015 - 22:33
    +4

    ahh crap, not another card!
    Not a big fan of them calling my employer…

  • squeeb on 01/12/2015 - 22:37

    Four months is better than nothing. Ta.

  • T-man on 01/12/2015 - 22:55

    "Cashback will be credited to the approved account within 8 weeks after the qualifying purchases have been made."

    It isn't worth an enquiry on my credit file. Better to keep using 2% cashback with ING and look forward to applying their credit card that will be launched soon.

    • ltwo on 02/12/2015 - 00:46

      hope the ING CC comes out sooner rather than later. it's been making news since mid this year.

  • 28kb on 01/12/2015 - 23:04

    just in time.. I think my commonwealth is about to expire https://www.ozbargain.com.au/node/205149

  • Scrooge McDuck on 02/12/2015 - 10:41

    Note that although the minimum income requirement is quite low Citibank will call your employer to verify so no exaggeration or making it up.

    scotty, is 10 badges p.a. a realistic income?

    • retiredfeline on 02/12/2015 - 10:49

      I think they would rather know your eneloop income. :)

  • Willy Bargin on 03/12/2015 - 21:47

    it deal like this I like to thank ING for creating the a fair and better world / with out them we would have crappy and non existence marketing

    • DeafMutePretender on 03/12/2015 - 22:56
      +1

      ♪
      2%/5% cashback the world
      Make it a cheaper place
      For you and for me
      And the entire paywave master race
      There are bargains dying
      If you care enough
      For the competition from ING
      Make a better bargain
      For you and for me
      ♪

      Kudos to MJ. This musical inspiration comes from reading "fair and better world" and seeing a slash "/" as it if the post was lyrics.

  • [Deactivated] on 07/12/2015 - 15:30

    Citi is offering 5% paywave cashback on Citibank Plus as well, for 3 months if you deposit at least 2.5K per month.

    http://citibank.com.au/debit/

    • PissLUR on 07/12/2015 - 16:15

      Whatt?? as an existing customer, I was only offered 3%.

      Anyway, this is what puts me off.

      Month of purchase - Cash back credited
      December 2015 -February 2016
      January 2016 - March 2016
      February 2016 - April 2016

      • [Deactivated] on 07/12/2015 - 17:23

        I'm pretty sure it's 5% for everyone.

        • PissLUR on 07/12/2015 - 17:24

          well, its 3% for me.

        • [Deactivated] on 07/12/2015 - 17:27

          @PissLUR:

          You must be special. It says 5% right there on the page.

        • PissLUR on 07/12/2015 - 17:30

          @DainB:

          that page is for NEW customers and as I said earlier, I am an existing customer.

        • [Deactivated] on 07/12/2015 - 17:32

          @PissLUR:

          I've got email today for my existing account that had that link in it.

          However you might be right, it's not for everyone, but definitely not for NEW

          "This offer is only applicable to existing customers who are subject to a previous invitation."

        • [Deactivated] on 07/12/2015 - 17:37

          @PissLUR:

          My link is 2% better than yours.

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