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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)


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

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closed Comments

  • +4

    Wowzers, $10k is steep

    • +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.

      • +1

        Can you please explain a bit more on this? Thanks

        • +5

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

      • 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?

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

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

          • @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?

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

      • is payall counted towards minimum spend?

        • Yes

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

      • Edit: nevermind, my mistake! PayAll worked fine!

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

    • 12 months gap required I believe

      • +1

        It's 6 months for Citi.

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

          • +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.

            • @thousandsuns: How many applications did you make?

              • @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.

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


    • 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.

  • +2

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

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

  • +3

    this converts to 150 000 Velocity

  • +7

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

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

      • 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.

  • Whats the conversion rate to krisflyer?

    • 3:1

      • +5

        For Citi Prestige, it’s 2.5:1

  • +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!

    • +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.

      • 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.

        • +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

          • @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!

          • @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?

            • +1

              @balexa47: Still available until Oct 2023.

              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

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

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

        • +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.

          • +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.

            • @T1: WOW

            • @T1: are you nervous you might get blacklisted?

            • @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.

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

            • @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?

              • @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%.

              • @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.

                • @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.

      • +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)?

        • +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.

      • +1

        Wait for them to fix this loophole now.

        • 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.

          • @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.

            • @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.

              • @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.

                • @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.

                  • @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.

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

                  • +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.

                  • @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

              • @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.

      • 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?

        • +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.

  • +3

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

    • +2

      me too. My salary is much higher than the requirements

      • Maybe too much debt or too many credit cards?

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

    • +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.

      • +1

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

        • 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.

          • @snb9211: Kogan is Citibank (NAB now) though

            • @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.

              • +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.

                • @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

                  • @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.

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

    • +1

      Hoping Amex charge card offer back to life.

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

      • What number did you called?

        • Can't remember, sorry

  • +4

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

    • +4

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

      • +6

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

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

        • +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.

        • Bummer! Seems they've sneakily brought it back

        • +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.

    • 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.

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

  • +2

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

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

    • 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.

      • No dining credits at international lounges you mean?

      • Domestic dining credit?

        • 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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