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Citi Prestige Credit Card: 300,000 Citi Rewards Points ($10,000 Spend in 90 Days), $350 First Year Fee (Save $350)

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Citi Prestige Credit Card: 300,000 Citi Rewards Points ($10,000 Spend in 90 Days), $350 First Year Fee (Save $350)
Go to Deal
RGV on 15/02/2023 - 18:55 www1.citibank.com.au (7003 clicks)
Last edited 16/02/2023 - 09:11 by 1 other user

Minimum spend increased from $7,500 in 60 days to $10,000 in 90days

Copied from Previous deal https://www.ozbargain.com.au/node/728311

Key Points:

$350 annual fee in the first year (save $350).
300,000 Citi Rewards Points when you spend $7,500 on eligible purchases within 60 days from approval.
Points redeemable for $1,500 in gift cards, $1,150 profit after annual fee. (According to rwrds(rwrds.com.au))
$20,000 minimum credit limit, $100,000 maximum.
Extra Perks:

4th Night Free: Enjoy your 4th night free when you stay four consecutive nights at a huge range of hotels.
Luxury Escapes: Enjoy 10% off Limited Time Lux Exclusive hotel offers (up to $500) and international tours (up to $250) until 1 March 2023.
Priority Pass: Unlimited complimentary access to over 1,200 Priority Pass lounges around the world for you and one guest.

According to comments, a minimum annual salary of $150,000 is required for applicants

Financial Credit Card MasterCard Reward Points

Related Stores

Citibank Australia
Citibank Australia
MasterCard AU
MasterCard AU
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closed Comments

  • BuyNowThinkLater on 15/02/2023 - 18:58
    +4

    Wowzers, $10k is steep

    • RNDM on 15/02/2023 - 19:05
      +13

      It's pretty much non-existent with the PayAll feature.

      I.e. you only need to transfer 10k out and 10k back, no actual 10k purchase required at all.

      • zozuc on 15/02/2023 - 19:19
        +1

        Can you please explain a bit more on this? Thanks

        • hawkeye93 on 15/02/2023 - 19:31
          +5

          Citi PayAll feature. Search for it here on Ozb and read it.

      • BuyNowThinkLater on 15/02/2023 - 21:28

        yeah, I need to read up on that payall thing. Seems like people jsut do it but won't you get blacklisted once they see the money is just rotating from you?

        • timhn on 19/02/2023 - 20:49

          If they got blacklisted, do you think the deal still active after runningnover 2 years?

        • hawkeye93 on 20/02/2023 - 19:17

          You can put whatever name to the bank account you transfer to, so how can they know it’s also yours?

          • whey4000 on 17/03/2023 - 19:58

            @hawkeye93: Once I do the payall when do i need to pay it back by to make sure I don't pay interest? Is it the next statement date?

            • hawkeye93 on 17/03/2023 - 22:30

              @whey4000: depends on payment due date of your statement. Better repay a few days before that.

      • macr0hard on 03/05/2023 - 17:25

        is payall counted towards minimum spend?

        • wangasm on 03/05/2023 - 17:41

          Yes

          • phonehome on 19/05/2023 - 17:27

            @wangasm: Edit: nevermind, my mistake! PayAll worked fine!

      • phonehome on 19/05/2023 - 17:30

        Edit: nevermind, my mistake! PayAll worked fine!

  • Big Deal on 15/02/2023 - 18:59

    Can i close existing and apply again? Min spend can be easily achieved by payall.

    • OzBestDeal on 16/02/2023 - 11:45

      12 months gap required I believe

      • thousandsuns on 16/02/2023 - 11:52
        +1

        It's 6 months for Citi.

        • OzBestDeal on 16/02/2023 - 11:56

          Good to know….
          Should've closed mine as soon as I got bonus points :(

          • thousandsuns on 16/02/2023 - 11:58
            +1

            @OzBestDeal: Also, don't spam too many applications or you'll get rejected anyway and have to wait another 6 months. I learnt that recently but then again I made full use of all my cards last year.

            • hawkeye93 on 20/02/2023 - 19:19

              @thousandsuns: How many applications did you make?

              • thousandsuns on 20/02/2023 - 19:37

                @hawkeye93: I was approved for every single card I applied for prior. I think I went through 3 x cc and 1 x refinace all in a space of 3 months.

        • R14 on 25/02/2023 - 04:39

          6 months gap for all type of credit card from Citi ?I had qantas premier card earlier and closed recently . Still eligible?

          Thanks

    • twistedbow on 01/03/2023 - 20:31

      no if you already have a prestige card. i checked with support via chat and was told there is 12 month stand down period like all other credit cards.

  • expatOz on 15/02/2023 - 19:05
    +2

    wow, the min spend is getting crazy high lately :|

  • belrose on 15/02/2023 - 19:06

    Still did not get my $600 back for apply pay Citi credit card

  • PaperplaneXXX on 15/02/2023 - 19:12
    +3

    this converts to 150 000 Velocity

  • wangasm on 15/02/2023 - 19:16
    +7

    Can refer to this spreadsheet I created if you want to see how much 300k points are worth.

    • arst on 17/02/2023 - 00:03

      How did you work out "$ per converted point"?

      • wangasm on 17/02/2023 - 00:20

        Flybuys themselves convert 2000 flybuys points to $10 flybuys dollars to spend in stores (Therefore equalling 0.5 cents per point)
        The airline points worth are somewhat documented/estimated online and I have also did some testing myself by looking at how much flights cost with cash versus how much they cost with points. For example, a $1000 flight that costs 50,000 airline points means each point is worth 2 cents. Obviously this can vary depending on the $ cost of a specific flight and route but it gives you a rough idea.

  • gembel on 15/02/2023 - 19:16

    Whats the conversion rate to krisflyer?

    • pman54 on 15/02/2023 - 19:23

      3:1

      • hawkeye93 on 15/02/2023 - 19:32
        +5

        For Citi Prestige, it’s 2.5:1

  • MrHappy8D on 15/02/2023 - 19:23
    +1

    Could anyone explain the PayAll strategy to meet the spending requirements? I'm not familiar with PayAll at all, just keep reading it mentioned. Thanks!

    • muzzamo on 15/02/2023 - 19:30
      +7

      It's pretty simple. Do a 10K payall transaction do your own bank account elsewhere (BSB + account number), then transfer it back. it counts towards your minimum spend, and also gives you 10K more points.

      • MrHappy8D on 15/02/2023 - 19:34

        Thanks! I assume PayAll is some type of feature in CitiBank or interface in your account that allows you send money or pay someone using your credit card as the source. Would there be additional charges or fees by doing this with a credit card? If not — that is actually crazy good for some quick points.

        • wangasm on 15/02/2023 - 19:51
          +1

          No fees at all until end of Oct this year, but you can set up scheduled transfers way beyond that (Assuming Citi doesn't remove them)
          Rabbit hole: https://www.ozbargain.com.au/node/610776

          • MrHappy8D on 15/02/2023 - 23:02

            @wangasm: Wow that's pretty incredible to use up until Oct. I've just moved to Australia and can't get approved for a credit card until I earn my first payslip — so I'll just have to wait!

          • balexa47 on 16/02/2023 - 10:49

            @wangasm: @wangasm I just signed up. Got an email confirming my application, with this statement 'A fee of 2% of the amount of the CitiPayAll payment is payable and is debited to your Account each time a Citi PayAll payment is made.'.

            I assume this 0% fee for PayAll is no longer available?

            • CodeXD on 16/02/2023 - 10:58
              +1

              @balexa47: Still available until Oct 2023.
              https://www1.citibank.com.au/offers-benefits/PayAll1

              To get started, set up single or regular Citi PayAll payments by transferring funds directly from your credit card account to the bank account of the payee held with an Australian financial institution. For all Citi PayAll payments set up between 1 April 2021 to 31 October 2023, the Citi PayAll fee will be reduced to 0%.

              Make sure you schedule them before Oct. You can even schedule them to start 2025

            • wangasm on 16/02/2023 - 11:57

              @balexa47: 2% is the standard fee they tell everyone. The 0% is the promo that's still going on

      • geshc on 15/02/2023 - 19:45

        cant i keep doing this for 10k points repeatedly then?

        • wangasm on 15/02/2023 - 19:48
          +1

          Limited to $20k in transfers per month. But yes you could get 20k points easily each month. Some even hold onto the funds to earn interest.

          • T1 on 15/02/2023 - 21:41
            +19

            @wangasm: Wife and I have a card each transferring $20k from each card every month to our mortgage offset, then back again before the statement is due.

            Saves us about $100 in interest a month, and also getting 20k velocity points a month as well.

            Setup scheduled payments and auto redemtion of velocity points, so its set and forget.

            • PaperplaneXXX on 15/02/2023 - 22:32

              @T1: WOW

            • wqepoi on 19/02/2023 - 12:19

              @T1: are you nervous you might get blacklisted?

            • VQLD on 22/02/2023 - 09:20

              @T1: From T&C :
              Can I use Citi PayAll to pay my mortgage or other debts/loan repayments?

              This product should not be extended to repaying other debt held, for business purposes, for the purpose of gambling, or in connection with unlawful activities, to invest in shares or other financial products or for cryptocurrency related transactions.

              • timhn on 22/02/2023 - 10:58

                @VQLD: You PayAll into a normal sv acc. What you after that sre your business.

            • spiinl on 12/05/2023 - 10:14

              @T1: Question for you.
              Can you change bank account after you schedule it? Reason is that setting up the transfer for 2 years to an offset account is too long. Will probably refinance more than twice in two years to earn some cashbacks.

              Do you setup a intermediary account to get around this?

              • CodeXD on 12/05/2023 - 10:44

                @spiinl:

                Can you change bank account after you schedule it?

                No, you will need to reschedule a new payall to send to a different account. If you do this after Oct 31st, it will trigger the 2%.

              • T1 on 12/05/2023 - 10:45

                @spiinl: Yeah, you cancel the schedule and create a new one to a different bank account. I think you have to wait a few days to setup a new schedule though.
                We only plan on having the cards for the first year to avoid the AF so I only setup the schedules for 12 months.

                Having a intermediary account might come in handy if Citi change the rules again on the max amount you can transfer each month. IIRC, that change didn't impact existing schedules already setup.

                • spiinl on 12/05/2023 - 10:57

                  @T1: I am more concern about them charging fees after October for new schedule. If change to a new offset account after, i will be slugged with the fees if i re-schedule.

      • kane1990 on 15/02/2023 - 20:15
        +1

        Have you actually done this? I pay my rent via PayAll but thought it would flag if you're sending money to a bank account in your own name (they all seem to require approval and would imagine this would be something they may decline)?

        • wangasm on 16/02/2023 - 00:06
          +2

          Yep, these 15 pages of comments say it all
          Legoman in particular has it down to an art
          They can't verify the name/owner of the destination account so you could really name it anything. (Just don't send it to a Citibank/NAB owned account)

          Also tip: If your rent allows payments via BPay, you can pay with your card via Beem which should net you bonus points (3 or 2 points per dollar) rather than the standard 1 point per dollar from PayAll. Can also do this with other bills.

      • thousandsuns on 16/02/2023 - 11:53
        +1

        Wait for them to fix this loophole now.

        • Gumbootboy on 16/02/2023 - 17:56

          It will cost 2% of the transfer amount after Oct. Could argue its not a loophole and more they are trying to lure people into using it while its free and then jack up the price.

          • thousandsuns on 16/02/2023 - 17:59

            @Gumbootboy: I suppose the 150k income requirements already make it difficult for most people to attain anyway. I want to go for this card in September. I hope the deal remains then.

            • Gumbootboy on 16/02/2023 - 18:16

              @thousandsuns: I've got this card. I had it from the previous deal, the req spend previously was 7.5k for the se points, which I thought was steep.

              This offer is valid until 31 May 2023. Post this advertised date; we reserve the right to continue, withdraw or change the offer at any time without notice.

              These are thr same T&Cs as the recent deal but it ended 31st Jan. It syaed up unt they replaced it with this one, so if you are lucky you'll have until mid June, then they may release a new offer (better or worse), or extend the same.

              • thousandsuns on 16/02/2023 - 18:20

                @Gumbootboy: The $350 annual fee isn't bad if they refund it. I would rather spend more instead of paying the annual fee, but I feel like they'll stop refunfing it in the future. At least right now people don't have to even worry about the annual fee.

                • wangasm on 16/02/2023 - 18:55

                  @thousandsuns: It's actually pretty hard to get the annual fee refunded right now due to the new NAB policy.
                  But the annual fee here doesn't mean anything anyway since it's offset from all the points you get. With the fee factored in, this card still remains one of the highest profit point bonuses you can get.

                  • thousandsuns on 16/02/2023 - 20:15

                    @wangasm: If you can't get a refund of the $350 annual fee, I wouldn't consider it as nothing. It is still $350 less in your pocket, no matter how much value you get back. So this deal is a lot better than the last one, obviously.

                    The issue is, however, it is a very high spend card and not everyone will get approved for it.

                • sareth on 19/04/2023 - 11:04

                  @thousandsuns: Can you explain how the $350 annual fee can be refunded?

                  • thousandsuns on 19/04/2023 - 11:39
                    +1

                    @sareth: Cancel card and ask for refund but that is not guranteed to work any more nowadays. Since you are getting the points already, they would likely decline the request.

                  • wangasm on 19/04/2023 - 18:34

                    @sareth: See here for refund steps (It's the same for Prestige) https://www.ozbargain.com.au/comment/13552991/redir
                    You need to meet your spend in the first month and stop using your card after the fee is charged

              • CodeXD on 16/02/2023 - 18:24

                @Gumbootboy: I think they were desperate previously so thry removed the minimum annual income criteria and A LOT of people applied.

                Now that they have customers, they've put it back up and will drastically limit the people who are now eligible.

      • ZeroRefrain on 19/05/2023 - 10:31

        If you regularly transfer large amounts of money to a personal BSB/Acc wouldn't that flag as suspicious transactions/income by ATO? Or how would they know it isn't your income?

        • CodeXD on 19/05/2023 - 10:38
          +1

          They might flag it but when you pay it off, you are also sending out a large amount. Banks can see that it was sent to credit card payment.

  • Boomer85 on 15/02/2023 - 20:03
    +3

    Good luck guys. I got declined but can't tell how.

    • PeppaCat on 15/02/2023 - 20:19
      +2

      me too. My salary is much higher than the requirements

      • qtmai on 15/02/2023 - 20:25

        Maybe too much debt or too many credit cards?

      • hawkeye93 on 20/02/2023 - 19:24

        Does not matter. It’s purely a game of luck.

    • snb9211 on 15/02/2023 - 20:25
      +1

      Citi bank seem to decline card churners. From want I can tell I've pretty much been black listed by them. I churn through cards with every other bank.

      • clubhonda on 15/02/2023 - 21:55
        +1

        I'm a card churner too but got approved. How many cards do you apply for in a year?

        • snb9211 on 15/02/2023 - 21:58

          Usually 4ish. I stick with Qantas points but sometimes throw a Kogan one in there. Never been approved for Citi bank, never been knocked back from any other bank.

          • diazepam on 15/02/2023 - 23:01

            @snb9211: Kogan is Citibank (NAB now) though

            • snb9211 on 16/02/2023 - 00:22

              @diazepam: Now I am confused haha. Never been approved for a proper Citibank or the Qantas citibank but got approved for Kogan. I think I've had 3 or 4 rejections from Citibank.

              • Banana on 16/02/2023 - 12:53
                +1

                @snb9211: Yeah I only ever got rejected by Citi, got approved for much higher card on similar debt but slightly lower income. Then I got rejected by Virgin Money, which was apparently because I had applied for Citi CC less than 6 months ago.

                • Shaneeo on 26/02/2023 - 19:15

                  @Banana: Glad to hear others have found the same with Citi. I also churn 4-5 cards per year and have done with every major company. Never had a single rejection except for Citi. Instant rejection the 2 times I have tried with Citi. Never bothered to call them thought to question. Will give this one a go, and if rejected again, will call and challenge. Worth a call for $1000 potential profit. My understanding is Citi is a very antiquated bank with outdated systems, so algorithm probably looking at credit enquires only, and doesn’t take into account the fact they are all now closed, and no liability any longer

                  • Banana on 26/02/2023 - 22:00

                    @Shaneeo: I wish I challenged Citi - wouldn't go and apply for Virgin Money a month later, had I been approved for Citi. I suspect they don't like serial churners. Let me know how you go.

                  • nadan on 27/02/2023 - 10:22

                    @Shaneeo: Don't apply if your last rejection was within three months, that is their threshold.

    • Boomer85 on 15/02/2023 - 22:58
      +1

      Hoping Amex charge card offer back to life.

    • askvictor on 01/03/2023 - 14:20

      I got declined, called to ask why (they didn't give a response, said they'd get back to me), then got accepted.

      • timhn on 01/03/2023 - 17:38

        What number did you called?

        • askvictor on 01/03/2023 - 17:54

          Can't remember, sorry

  • FFx0 on 15/02/2023 - 20:44
    +4

    Looks like there is a minimum income requirement of $150,000 per year.

    • wangasm on 15/02/2023 - 21:01
      +4

      Not true, others and myself have gotten approved with less than that. It seems very dependant on your credit history.

      • FFx0 on 15/02/2023 - 21:05
        +6

        The application form does not let me pass without putting annual salary $150k.

        Source: https://i.imgur.com/kIFtqCP.png

        • CodeXD on 15/02/2023 - 21:38
          +3

          I did a test application and I am getting the same error as you.

          They must have brought back the $150k criteria for this card. I applied for the exact same card less than a week ago without the $150k requirement.

        • wangasm on 15/02/2023 - 21:45

          Bummer! Seems they've sneakily brought it back

        • PoRKroLL on 17/02/2023 - 10:52
          +1

          Can confirm there shouldn't be a salary requirement on any of their credit cards now.

          I just had to apply through the phone and got approved the next day.

    • n0mad on 16/02/2023 - 14:00

      Ahh i'm awaiting approval from the 14th, i hope they don't reject me based on that. I'm less than $10 under $150k.

    • whapkaplit on 17/02/2023 - 20:05

      I got the card from the last deal and I don't earn anywhere near that.

  • Jayblesz on 15/02/2023 - 20:58
    +2

    Damn unlimited priority pass. If you travel this is a great deal. If only I had the required income T.T

    • nightelves on 20/02/2023 - 15:29

      Apparently no income requirement if you apply over the phone https://www.ozbargain.com.au/comment/13392356/redir

    • Nuggets on 21/02/2023 - 01:18

      Got about 6 lounge visits in plus a guest each time over the past 10 days in a short trip to Thailand. Already paid for itself.

      Arguably the dining credits at some domestic airports in Australia are even better as you get real food.

      • expatOz on 22/02/2023 - 21:26

        No dining credits at international lounges you mean?

      • socheap on 25/03/2023 - 10:49

        Domestic dining credit?

        • Nuggets on 25/03/2023 - 13:47

          At some airports lacking lounges, priority pass gives you $36 to spend and another $36 for a guest at select participating cafes or bars within the terminal.

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