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Citibank Platinum Card & Transaction Accout Free for Life Plus 18m 0% BT

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Went to the Citibank Pitt Street branch and the staff advised that if I open a everyday transaction account (Citibank Plus)in Branch this week, I'm eligible to apply for Citibank rewards platinum card fee free for life (usually $199 pa). The platinum rewards card is one of the best standalone Visa cards with a good points earning rate, also it currently comes with a bonus of 60000 points when you spend $5000 with in the first 90 days. The current promotion of 18 months 0% Balance transfer also applies where you get a Cheque to self.

I was pointed out that if you choose free for life, then you are not eligible for 60000 points. I wasn't aware as I didn't apply. Until someone can confirm that they were eligible for both, I'll remove the 60000 points from the deal!

The deal only applies when you sign up in branch and the promotion finishes this week.

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closed Comments

  • If you already have a points card with them can you get this card and accumulate the points?

    • +1

      I have 2 credit cards with Citibank and have successfully amalgamated/transfered my points into 1 account on several occasions over the years.

      Also for anyone curious about current points rates, around 18,000 Citibank Reward points gets you a $100 gift Visa/Mastercard, so you may be able to get around $300 worth of gift cards with this offer.

  • Deal is OK, but it's certainly not the case that the Platinum card is one of the best out there… indeed, the Signature (supposedly $395 p.a.), which I got fee free for life, has had its points devalued to quite a mediocre level, and is worth it only for the free Priority Pass, and the easy cash balance trasnfers they'll offer you when you threaten to cancel.

    • How were you able to get the Signature card fee free for life? I'm traveling for a year and am looking at cards that include complimentary Priority Pass membership.

      • +2

        They usually have some sort of promotion.

        https://www.ozbargain.com.au/search/node/citibank+signature

      • You only get two free Priority Pass entries per year, so if you are travelling all year, I wouldn't count on it.

        The ANZ FF Black is much better as there is no limit on the entries as long as you have a valid boarding pass.

        • Wait really? Unlimited PriorityPass entry as long as you have a boarding pass? That's quite special..

        • +1

          @illumination:
          Not PriorityPass just some airport lounge, google Veloce Lounge and Amex to find out.

        • Much of a muchness really.

          I used the PP lounge at BKK once. I got a tap on the shoulder to leave after 2.5 hours (apparently you can stay for only 2 hours).

          I recently used one of the lounges at Abu Dhabi which came with the ANZ FF Black (you get a choice of 3 in AUH). Stuffed myself with food for a few hours.

          Can't say I really noticed that much difference between the two lounges, except that I didn't get kicked out in AUH!

    • out of interest, what is the benefit of the cash balance transfer?

      • +3

        They give you a cheque for 80% of your credit limit. Pay it off over 12/18 months. Make interest off it. Free.

        • -2

          Nice, I have no reason to do that right now, but good to know.

          Might be worth having a conversation with them about the points situation.

      • +7

        I bought my car this way…. 0% interest loan - easily paid off in 18 months :)

        • +3

          I did the same.

        • Wow how did I miss this…Is this something that is readily available or do you have to 'threaten to cancel' to get it? edit: I see it in the card features page.

          How long does it take for a cheque to be mailed?

          cheers

        • @rend2688:

          From memory I had it within 5 days

        • @nafe:

          Thanks.

          Do you need to specifically request a cheque be sent or is that what they normally do with cash balance transfer?

        • @rend2688:

          You request it at the time of application I think, it's been a little while since I did it.

      • +1

        if you have credit cards where you're paying interest on, you can transfer onto this card and pay it off interest free for the x number of days.

        Alternatively you can ask for "cheque to self" . Which means they just give you the cash interest free for x number of days. You can leave it in an offset or mortgage account to save yourself paying interest and repay it back to the card before they start charing you interest.

        Basically … free money.

        • Quick note - I got the interest free cheque which I then put into my offset account so effectively reduced my mortgage payments (or rather increased the amount I was paying off my home loan each month). After the initial cold call from them it took 5 days for the cheque to arrive. That was good, but what I didn't realise was that - at least in my case - by electing to get the cheque, the credit card no longer was giving me 55 days interest free on retail purchases. I called up and complained as when I agreed to it this was not made clear to me, and they have reversed those charges. So I can't really complain about the service, but whilst I have this loan I need to treat my card as a debit card otherwise I will be charged interest.

          So a word of warning - it appears that the fine print on this deal varies - from the length of the loan, or the amount of interest you need to pay, or if you need to pay a small fee to establish the loan, or possibly other gotchas. I consider myself to be fairly hard to trick, but this one definitely caught me out.

      • +1

        Citibank is the only one where you can write a cheque to self for 80% of your credit limit. That is if your credit limit is $10000, you can write a cheque to yourself for $8000 for 18 months at 0% interest.

        • +2

          Wait, does that mean you can put the $8000 in your bank savings and accrue interest? If so, $$$$ profit!!!

        • @Padzyk: that is correct. However there is a one-off 1.5% BT fee

        • @mtfranklin: Where does it say that? I'm pretty sure there is no fee involved at all for the balance transfer. Source: I've done it myself… twice… on the Citibank Platinum.

  • +1

    "spend $5000 with in the first 90 days" would be a bit of a stretch..

    • My thoughts exactly.

      Can you Bpay from these cards? If So I could pay rent and get points…

      • you can bpay from any credit card that I have ever used. The question is whether the business you are dealing with allows bpay payment via credit cards and if they have an extra charge for it.

        • +1

          From a recent citibank email:
          Effective 18 March 2016, BPAY transactions will no longer be eligible to earn reward points.

        • @minski:

          Nooooo!!! could least still get the 60k before then I guess.

        • @minski: I missed the last part of DaTa comment. I was only answer the first part which is can you pay with BPay. The first post was asking about accruing $5000 spend in 90 days, so assumed that it was indicating that you could pay bills to make the $5000 target.

        • @minski:
          CBA platinum has done this a couple of years back

    • +2

      how many eneloops is that?

    • +1

      Half a helicopter ride from Geelong?

    • +3

      would be a bit of a stretch.

      Consider pre-paying your private health insurance for the next 12 months. If you have a family, that should get you more than half-way to the $5000 goal.

      Isn't it in April that the health insurers increase the rates? So you will also lock in the current rates for the next 12 months, for an extra saving. April is less than 90 days away.

  • Thanks OP.

    Googled the Brisbane branch.

    2.4 stars out of 15 Google reviews.

    • +2

      Citibank don't even have a branch in Adelaide so you're at least ahead there….

      • +1

        Yea 2.4 stars > 0 stars lol

  • Citi has been busy recently putting their rewards programs to the sword. My Citi Business Gold Visa QFF points transfer rate was halved as of March, that is in future I will receive half the QFF points I did previously for any given level of card expenditure. I'm looking for an alternative elsewhere no worse than 1:1 dollars:QFF points but most cards that still offer that rate (or better) have high annual fees. Or they're AMEX, with all the baggage that involves .. :-( .. !!

    • Only way to do well is get high sign up bonuses/fee waivers, and cancel (or threaten to) each year.

  • OP, is this branch specific or can I go to the mini underground branch in front of town hall station to apply?

  • will they still give you the free for life offer if I already have citibank plus account?

    • Just went to the Perth branch - they have the same offer and was looking just to get the credit card as I already have a transaction account as well.
      Basically said it would have to be a bundle package (both tran account and card), so they just did another 10 minute application for both another transaction account and the card at the same time …

      YMMV

      Wasn't too fussed - I will just close down one of the transaction accounts after the fact (if at all) - ultimately just wanted the card - but it can be done if you already have a tran account.

      • I may end up doing that and then transferring the points accross to my other credit card.

        So you can definitely open to Plus Transaction Accounts?

        Can you Transfer rewards points to another person?

      • Any confirmation on the end date of this promotion? I tried ringing through to the perth branch but was forwarded to some other rep, who seemed to think the promotion will still be going for a while yet

        • +1

          Ends on Friday

    • +6

      I'm tempted to neg this based on no actual comment just a vague blanket statement unrelated to the deal

      • +1

        I'm tempted

        This is getting quite serious!

  • +1

    Abit of a downer that this is happening…

    http://www.pointhacks.com.au/citi-rewards-velocity-krisflyer...

  • +1

    I find Citibank credit cards very useful for overseas travel insurance because they will give cover on one-way bookings (great for AirAsia flights)

    • Other credit cards don't cover one-way flights??
      I don't recall that being a criteria. The main criteria I tend to see is $500+ of your holiday expenses must be spent on the card to have the insurance activated.

      • +1

        criterion

        • +1

          Why did you reply? Now I can't edit my comment.

          (P.s. You're right and I am aware. But one of those cases where I rarely ever think of using it "properly" because no one ever does..)

      • At least some CC's specify "Return" and I have verified with Citibank that they cover "one way" with Papal payments (avoids Airasia credit card fee). Also no minimum - I usually only pay about $200 - $330 for my outwards flights. And so that is why I am very happy with Citibank CC travel insurance.

  • +1

    I went into both Pitt St and Park St branches today and was advised that you either have a choice between no annual fee or 60,000 points, not both. Can you confirm if you successfully qualified for both?

  • I went to the Perth branch today and was allowed to just fill up the application for the Platinum Rewards "No fee for life offer" right away. Already have got a transaction account that's 1 year old, but wasn't told to cancel and sign up again for it in order to qualify for the offer. In fact, the citibank staff member didn't even ask me if I had a citibank account! Apparently this offer ends on 15/1/16. Well, fingers crossed it gets approved. 3-7 business days they said.

  • Would love to hear if anyone was successful in applying for the no annual fee for life and also being eligible for the 60,000 rewards points after $5000 spend. I called and to be honest the response was (intentionally?) convoluted and I am not sure either way. I do get the impression that it is one or the other however.

  • +1

    Went to the Brisbane branch and was told that for private customers, balance transfer is 0% for 6 months - that's the only brochure they had. Finishes tomorrow.

    There is a similar offer for 18 months but only for corporate partners.can anyone post a copy of the brochure for this exact offer?