Citi Premier Card Review: Maximizing Velocity Points and Rewards in Australia

### Citi Premier Card Review: Maximizing Velocity Points and Rewards in Australia

Unlocking exceptional Velocity Points and rich rewards in Australia is now easier than ever with the Citi Premier Card. This Citi Premier Card review dives deep into how you can make the most of the perks, from earning 100,000 bonus Velocity Points to enjoying complimentary lounge access and travel insurance. Whether you’re a frequent flyer or just love rewarding yourself, the Citi Premier credit card brings forth an array of benefits tailored to your needs.

Why Choose the Citi Premier Credit Card?

The Citi Premier Card stands out in the crowded landscape of high reward credit cards in Australia. Right off the bat, you'll be greeted with 100,000 bonus Velocity Points, which could net you a one-way business class flight from Brisbane to Los Angeles with points to spare. Alternatively, you can convert these points into $500 worth of Coles Group & Myer gift cards for immediate savings.

Moreover, this credit card is loaded with exclusive benefits such as Priority Pass airport lounge access, complimentary insurance, and a dedicated concierge service. However, do consider the high $300 annual fee in the first year, which can drop to $150 if you meet the required spend of $48,000 per year.

Key Features and Benefits

100,000 Bonus Velocity Points

When you apply and get approved for the Citi Premier card and spend $8,000 on eligible purchases within the first three months, you’ll be rewarded with 100,000 bonus Velocity Points. These can be redeemed for flights, gift cards, or shopping vouchers.

Citi Rewards Program

The Citi Premier Credit Card allows you to earn 2 Citi reward Points per $1 on eligible international spend and purchases made online in Australia or overseas. For all other eligible spending in Australia, you'll earn 1 point per $1, capped at 200,000 points annually.

Complimentary Lounge Access

Gain complimentary Priority Pass membership along with two annual airport lounge visits. This is a perfect perk for frequent travellers who enjoy a tranquil environment before their flight.

Comprehensive Travel Insurance

Use your Citi Premier credit card to book eligible travel, and enjoy complimentary international and domestic travel insurance, ensuring peace of mind while on the go. This also includes smartphone insurance offering up to $1,000 per claim for accidental damage or theft.

Additional Benefits

• Citi PayAll: Earn 1 point per $1 spent with no points cap through Citi PayAll, allowing you to cover bills like rent and taxes.
• Mastercard Benefits: Take advantage of Mastercard Priceless Cities for exclusive travel, dining, and lifestyle experiences.
• Mobile Payments: Seamlessly pay using Samsung Pay, Google Pay, and Apple Pay.

Reviewing the Costs

Annual Fee

The standard annual fee for the Citi Premier Credit Card is $300. However, if you spend $48,000 on eligible purchases or cash advances each year, the fee reduces to $150.

Interest Rates

The card carries a purchase rate of 21.49% p.a. and a cash advance rate of 22.24% p.a. These variable rates require disciplined monthly repayments to avoid high-interest costs.

Foreign Transaction Fees

A 3.4% foreign transaction fee applies to overseas purchases, which is relatively high and should be factored into your spending calculations.

Eligibility and Application Process

Eligibility Criteria

To qualify for the Citi Premier Credit Card, you must:

• Be at least 18 years old.
• Be an Australian citizen or permanent resident.
• Have a minimum income of $75,000 annually.
• Possess a good credit history with no defaults or bankruptcies.

Application Process

Applying for the Citi Premier Credit Card is simple. The online application takes about 10 minutes, with a decision usually provided within 60 seconds. Ensure you have necessary documents like proof of identity, personal information, income proof, and employment details.

Pros and Cons

| Pros | Cons | |——————————-|—————————–| | 100,000 bonus Velocity Points | High $300 annual fee unless spend requirements are met | | 2 Citi reward Points per $1 on international spend | 3.4% foreign transaction fee | | Complimentary Priority Pass and travel insurance | No interest-free days on retail purchases with balance transfers |

Final Thoughts

The Citi Premier Credit Card is a robust option for those who can leverage the high rewards and complimentary benefits like lounge access and travel insurance. However, carefully assess if your spending habits align with the card’s requirements to offset the high annual fee.

Unlock a world of benefits and maximize your rewards with the Citi Premier credit card, a top contender in Australia’s credit card market. With the right financial management, this card offers a rewarding experience both domestically and internationally. One of the most significant advantages of the Citi Premier Credit Card is its robust rewards system, which is particularly beneficial for frequent global travelers. The card’s international spending rewards allow cardholders to accrue points at a rapid pace, ensuring that every dollar spent works harder for you. This is especially useful for those who frequently make purchases abroad or shop online with international retailers. The benefit of earning 2 Citi reward Points per $1 on such expenses can quickly add up, making it one of the most appealing high reward credit cards available in Australia. Additionally, the Citi PayAll feature empowers cardholders to earn points on bill payments that would typically not be eligible for rewards, further maximizing the earning potential of this credit card.

Aside from the generous rewards and bonuses, the Citi Premier Card excels in providing peace of mind through its comprehensive suite of insurance products. Whether you are traveling for business or leisure, the card's complimentary travel insurance offers extensive coverage, including medical emergencies, trip cancellations, and delayed or lost luggage. The travel insurance is automatically activated when you make your travel purchases with the Citi Premier Credit Card, ensuring hassle-free protection. Furthermore, the smartphone insurance provides additional safeguard, making it a go-to choice not only for its high earning potential but also for the extensive security it provides to cardholders. Such benefits make this card a well-rounded option for those seeking both rewards and protection.

If you’re someone who values exclusive experiences and premium services, the Citi Premier Credit Card won’t disappoint. The inclusion of Citi Priority Pass and complimentary lounge access elevates your travel experience by providing a serene space to relax before your flights. These lounges often offer amenities such as Wi-Fi, refreshments, and comfortable seating, which can significantly enhance your travel experience. Moreover, the dedicated concierge service available to cardholders can assist you with a wide array of tasks, from booking dinner reservations at top restaurants to securing tickets for coveted events. While the costs and fees associated with the Citi Premier Credit Card are a consideration, the unparalleled benefits and services it offers can provide immense value, making it a standout choice in the crowded marketplace of high reward credit cards in Australia.

Are you curious to explore an entirely different kind of credit card that offers a unique set of benefits? Discover an option that might better suit your specific needs and lifestyle preferences.