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Citi Rewards Mastercard: 60,000 Bonus Velocity Points with $3,000 Spend in 90 Days, $0 First Year Fee (Save $149) @ Citibank

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So it appears that Citibank have revised their Citi Rewards Card with the Velocity bonus points offer, and it's now $0 annual fee for the first year ($149/year in subsequent years), but with 60 000 Velocity points instead of paying $99 for 100 000 Velocity points for the first year and $199/year after.

You need to spend $3000 within 90 days of approval. Once you have met this spend, Citibank will e-mail you asking for your Velocity membership number (you don't provide it at time of application). Here is my timeline from last year. The earn rate isn't great however, at 2.5 Citi Rewards points for 1 Velocity point.

Eligible purchases exclude Cash Advances, Balance Transfers, Special Promotions, interest, fees, refunds, Chargebacks and spend on a Linked Diners Club Card.

So you might be able to pay off your bills like electricity and rego and qualify for the spend, but not earn any points on said spend:

Eligible Transaction is defined in the Rewards Program Terms and Conditions and means any purchase excluding (but not limited to) Cash Advances, Balance Transfers, Special Promotions, BPAY payments, government related transactions and all other transactions set out within the full definition.

You need to earn a minimum of $35 000. The minimum credit card limit is $6000.

I just closed my account the other week as my annual fee was due soon; might wait until a few weeks before the promo ends to sign up again since there's allegedly no exclusion period (although there are also rumours that there's now an eight-month exclusion period) …

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closed Comments

  • +6

    60 000 Bonus Velocity Points

    300$ of gift cards

  • +1

    Has anyone not received their points because of the new exclusion period?

    • Is this in writing anywhere?

    • +1

      Have you applied for the card a second/third time and having trouble with receiving the points. If this is the case, there is a glitch in their system where if the email asking the velocity number is triggered once then it won't trigger the email for a few months. You better call their CS and raise a ticket with them.

  • Are Citibank credit cards easy to get approved?

    • That's kind of like asking how long a piece of string is. Everyone's circumstances are different. I had to send in my bank statements to get approval.

    • I applied for this deal on 04/03, followed up on 07/03 for payslips and got approved on 08/03. Their approved credit limit is absurd.

      • Absurd high or low?

        • +1

          Absurdly high for me. Monthly limit is close to half of my annual income…

      • Looks like that deal Vitawheat mentioned is back again?

        I am wondering
        -Citi rewards (that deal VITAWHEAT mentioned
        -St George Amplify rewards
        -ANZ Platinum / Black

        Anybody has good ideas?

    • +5

      Citi's approval team can be a bit fickle…. I was rejected for no clear reason. I have minimal debt, no dependents, mid six figure income, steady employment, an excellent credit rating, and have always paid my bills on time. I've held 4 credit cards in the last 5 years. Not sure wtf else I was to have/do to get approved.

      • Weird. I earn less than you, and have four other open credit cards with about a $20K limit (everything else you said I also have), and got approved once I sent more proof of my income in

        • Wait so you have 4 credit card with a 20k limit each or total?

          • @nightelves: Total. Lowest is $2K, highest is $10K.

            • @kerfuffle: Makes sense I'm probably about the same. Need to start cancelling a few once the points hits.

              • @nightelves: Looks like that deal Vitawheat mentioned is back again?

                I am wondering
                -Citi rewards (that deal VITAWHEAT mentioned
                -St George Amplify rewards
                -ANZ Platinum / Black

                Anybody has good ideas?

                @bucketHat, I have had same issues with no answer. Did you find out an answer at all?

    • Horrible, horrible experience. Approved for a stupid low amount not worth the fee. Got a message giving me 3 weeks to upload my earnings docs but they approved without anyway but based on half my income. Then spent 3 days of mucking around on phone explaining problem to at least 12 people and sending emails trying to get the balance fixed, which didn't happen as they wanted an official letterhead bank statement up to the current date, which is not achievable. There policy is not to let you know what is happening or reply to correspondence, but for you to keep ringing to ask result. Ended up having to cancel a useless card that will likely affect my credit history. I now think of Citibank as a payday lender rather than a potential banking partner.
      Previously I had 2 accounts previously, one they cancelled as not being used straight after they took the positive balance of around $200 out as the annual card fee.
      Ready credit they cancelled as I hadn't been using it and stole the positive balance around $30 out of the account. No way to resolve as no customer service.

  • Yeah still not sure of the exclusion period
    Its printed nowhere
    Sent an email in and got a useless 1 line response saying I didn't provide enough information and need to open an account…

  • +1

    Just note that they charge heaps for overseas transactions and late payments.

    • Late payments aren't a problem if you pay on time.

      As for overseas transactions, that's what the 28 Degrees card (or other similar cards is for). I can't imagine people would be holding onto this card for longer than a year. Purely a churning card for me.

      • +1

        Yes but sometimes it's not easy to know if it's an overseas transaction. An example of this is when I used this card to buy a phone on Banggood (selected AUD and charged in AUD) I was still slapped with a $15 overseas transaction charge.
        Sometimes buying products or services online you just don't know if they're using an Aussie based payment processor regardless of the currency.

        Also late payments do happen especially if via BPay, you can be half a day late because BPay isn't instant and be charged $15.

        • you can be half a day late because BPay isn't instant and be charged $15

          Surely in that case it should be when the payment is sent and not when it's received. Either way, send it earlier?

  • Google Pay supported or not? Maybe?

    • +1

      No (much to my chagrin)

  • How much is 60k Velocity points approx worth?

    • +2

      Depending on what you use it on but probably around $300-$500.

  • Would setting-up Citi Pay All would be considered as an approved purchases to achieve 3k spent or considered as a cash-advance ?
    TCs are quite vague on both the Citi credit card page and PayAll page.

    • +1

      I wouldn't risk it and stick to the usual stuff like groceries, etc.

      • Yes we never know with Citi.
        Now I need to close my Qantas Premier one first and apply to this one.

  • +1

    Enjoy the sms spam if you sign up for this

    • +3

      Thanks — I get lonely sometimes

  • +1

    +1 for Osaka avatar. How shallow and irrelevant of me. Oh, and for the deal. There — that’s better

    • +1

      Hahaha thanks! Such a good manga and anime.

  • what's the best way to spend velocity points if it's not for flying or accommodations?
    seems like the gift card selections are limited and most are physical gift cards.

    • Redeem for gift cards!
      I got some JB ones 2 years ago when I thought VA was about to collapse. Yes, they were physical cards.. But then again, no expiry..!

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