Citibank is currently offering 100,000 bonus Velocity Points on their Citi Rewards Credit Card, when you spend $3000 in the first 90 days of approval.
They are also offering a reduced annual fee of $99 for the first year ($199 thereafter).
You can earn up to 1 Citi reward point per $1 spent. (2.5 Citi reward points = 1 Velocity Point)
They say the minimum income required is $35,000.
It ended last month; guess this is another round
They extended it in the middle of June.
Great offer if you plan to cancel your card; $199 annual fee isn't worth keeping the card for due to the poor Velocity transfer rate.
Participated in the last round:
- applied for card May 12
- needed to verify income (payslip wasn't enough so had to send bank statement) and got 5000 Citi Rewards points for doing so within 24 hours (even though it wasn't in writing; pleasantly surprised)
- card sent out and met minimum spend early July, and got the 'give us your Velocity number' e-mail about three days after qualifying
- Got 100 000 points ten days later after submitting my Velocity number.
Would do it again (provided they're not like Westpac's 12 month and Amex's 18 month requirement)
There's no exclusion period so you're good to go again.
I still have the card haha need to rack up enough points for a $50 gift card before closing it.
Thinking of getting one. Can't find the exclusion period in the t&c but says 'New applications only'.
There's no exclusion period it's literally been said several times in here.
What do you mean by poor Velocity transfer rate?
Doesn't this offer give 100k velocity points?
Does this card revert to some kind of Citi Reward point after the initial 100k Velocity bonus?
You can earn up to 1 Citi reward point per $1 spent. (2.5 Citi reward points = 1 Velocity Point)
So this offer you get 100K Velocity points. But you don't earn Velocity points on this card. You earn Citi Reward points, which is 2.5 points for 1 Velocity point. i.e. 1 Velocity point is $2.50. Why would I keep this card when my Westpac Platinum Mastercard despite costing $50 more, has more benefits and a 0.5 Velocity point/dollar rate?
I see thanks for explaining. So it's only good for the initial 100k Velocity points.
I'm happy with my Citi card offers so far, inlcuding multiple $100 gift cards for fixing payment options, and monthly deliveroo $10 off, and $30 off from Kogan over $100, all those offers are within one year.
How are you getting those giftcard promos? I've yet to see one come through for me.
Via e-mail
Yes I do get those promo via email but never have the giftcards attached to them
@nightelves: Some offer may be targeted, and gift cards normally sent out after 12 weeks after fix payment option. The discount ones either comes with a code or credit back on transaction a few days after payment.
@nightelves: You could cancel the fix payment and pay in once.
For recent $100 gift card offer, there is only a one time fee of 0.9% and No interest, so I would just keep it as free loan.
@nightelves: But then you may not receive gift card.
It normally end up 70-80 profit, 20-30 is fees/interest
Churned this last round, honestly was one of the easiest experiences with Citibank i've had, yes i've had some shockers.
I think they've realised the bottleneck and are getting better.
velocity points within 10 days of closing and there were no exclusion periods which was nice (took out my previous citibank card 5 months prior).
So there isnt 12 month waiting period for this one? I did look through there terms and it didnt mention anything like that. I had this card earlier this year.
Doesn't seem to be
Whats 100k points worth in kangaroo dollars?
More economical would be selling the Velocity points at 0.75c/point on the OzB forums which would yield $750 dollar-bucks.
I don't see any conditions to restrict current Citi credit card holders to apply for this one?
Currently have the Qantas Premier Platinum credit card issued by Qantas Money/Citi.
Yes you can, different brand, although backend is same system.
You can also have coles, kogan, etc which are all citi white brand which may soon become nab white brand.
no luck with citi. I shall pass
Did Citibank remove the points/bonus points on government spend?
Because t&c says
“ Eligible purchases exclude Cash Advances, Balance Transfers, Special Promotions, interest, fees, refunds, Chargebacks and spend on a Linked Diners Club Card.”
Think this offer has been out a while now