Citi is offering up to 200,000 bonus Citi reward Points plus a discounted first year annual fee of $150 (usually $300 p.a.) for new cardholders of the Citi Premier credit card until 25 October 2023. This is currently equivalent to 100,000 Velocity Points or 80,000 KrisFlyer miles when transferred out of Citi Rewards.

The bonus is only available for new cardholders who are approved for the Citi Premier credit card and is split into two parts. The first 150,000 bonus Citi reward Points are to be received after spending a minimum of $7,000 on eligible purchases in the first 90 days from approval using your new Citi Premier credit card and an additional 50,000 bonus Citi reward Points if you keep your card over 12 months.

Cardholders can still enjoy a $150 annual fee in each subsequent year if they spend $48,000 on eligible purchases in the previous year.

The Citi Premier credit card earns up to 2 Citi reward Points per dollar on eligible spend and includes complimentary Priority Pass(TM) membership with two airport lounge visits each year, plus the ability to earn Citi reward Points and redeem them for a statement credit or transfer them to participating partners.

Digging into the benefits of the Citi Premier credit card

The Citi Premier Credit Card earns Points in the Citi Rewards program.

Card Details

CardCiti Premier Credit Card
Loyalty programCiti Rewards
Citi Rewards earn rate2 Citi reward Points per $1 spent on Eligible Transactions online or overseas
1 Citi reward Point per $1 spent on Eligible Transactions everywhere else
Points cap200,000 Citi reward Points over a 12-month period
Minimum credit limit$10,000
Earns points at ATONo
Travel benefitsPriority Pass(TM) membership and two complimentary airport lounge visits each year
Annual fee$150 for the first year and each subsequent year if you spend $48,000 on eligible purchases or cash advances in the previous year, otherwise $300 p.a. ongoing
Overseas transaction fee3.40% of the converted amount
Included insurancesPurchase Cover Insurance
International Travel Insurance
Extended Warranty Insurance
Mobile walletApple Pay, Google Pay and Samsung Pay

Citi Rewards transfer partners for the Premier Credit Card are low in number but high in quality:

Cardholders can transfer their Citi reward Points at the following rates.

Transferring to Velocity allows cardholders to redeem for flights on Virgin Australia.

Effective Frequent Flyer Program Point Earn Rates

Frequent Flyer ProgramAll other eligible spendEligible Transactions made online
and International Spend
Qantas Points*0.5 point / $1 point / $
Velocity Points0.5 point / $1 point / $
Singapore Airlines KrisFlyer miles0.4 point / $0.8 point / $
* Qantas Points are only earned through the Citi Premier Qantas Card

The minimum number of Citi reward Points required to make a transfer varies depending on the partner program.

  • Velocity Frequent Flyer – Minimum 2,000 points in 1-point increments
  • Singapore KrisFlyer – Minimum 20,000 points in 1-point increments
  • Flybuys – Minimum 2,000 points in 1-point increments

Any balance less than the minimum is ineligible to be transferred to frequent flyer programs until the minimum threshold is reached.

Priority Pass(TM)

The card also comes with Priority Pass(TM) airport lounge membership, currently valued at US$99 per year, and two included airport lounge visits currently valued at US$35 each.

If you are a cardholder, you will receive a welcome pack from Citi with a Priority Pass(TM) access code soon after receiving your card in the mail. The code then lets you sign up for the relevant membership from Priority Pass(TM).


Finally, you’ll also get a range of insurance, including the following:

  • Purchase Cover Insurance
  • International Travel Insurance
  • Extended Warranty Insurance

As per usual, you’ll need to read the PDS and assess if these insurances meet your individual needs and offer you substantial value.

This guide references some of the benefits of insurance policies provided with this card. You should read the PDS and obtain independent professional advice before obtaining this product.

Citi PayAll

Earn Citi reward Points on larger everyday expenses such as rent, taxes, education fees, property management fees, childcare and miscellaneous bills with Citi PayAll. Offers are subject to eligibility and are only available if your account is in good standing.

Apple Pay, Google Pay & Samsung Pay support

Citi cards support Apple Pay, Google Pay & Samsung Pay, meaning you can use this card on your smartphone for easier payments.

Summing up: the Citi Premier Credit Card

The Citi Premier credit card’s airline and loyalty partners are of a high quality and are among the largest in the Australian market. The Card also comes with additional benefits, such as complimentary Priority Pass(TM) membership and 2 airport lounge visits and complimentary insurance, making for a more comfortable journey in the future. Also, the ability to turbocharge your Points earned from Citi PayAll is another great feature.

The Card remains to be considered for high volumes of points earn outside of Qantas Frequent Flyer on a Mastercard or Visa so you’ll need to be using the card a lot on online and overseas spend to make the fee worthwhile, also note that points earn is capped at 200,000 Citi reward Points over a 12 month period.

Overall, this is a Card worth considering for those who like to diversify their Points earn and are looking for a mid-range annual fee card.

Important information

National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) (“NAB”) is the credit provider and issuer of Citi branded financial and credit products. NAB has acquired the business relating to these products from Citigroup Pty Ltd (ABN 88 004 325 080, AFSL and Australian Credit Licence 238098) (“Citi”) and has appointed Citi to provide transitional services.

Our/us/we means NAB unless the context otherwise requires it.

“Citi”, “Citibank”, “Citigroup”, the Arc design and all similar trade marks and derivations thereof are used temporarily under licence by NAB from Citigroup Inc. and related group entities.

Up to 200,000 bonus Citi reward Points with the Citi Premier Credit Card was last modified: August 17th, 2023 by Daniel Sciberras