Citi - Rewards Credit Card
Velocity offer
The Citi Rewards credit card has an introductory balance transfer rate of 0% for 6 months and a 0% balance transfer fee. This rate reverts to 22.24% p.a. after this time. There are 55 days interest-free on retail purchases, however, this does not apply if you have a balance transfer.
Earn Citi reward Points at a rate of 1 point per dollar spent on international transactions or online at an overseas merchant and 1 point per dollar spent on domestic transactions (the latter rate is capped at $10,000 per statement period).
80,000 Velocity Points when $5,000 is spent on eligible purchases within 90 days from card activation.
Annual Fee
$199 per year
Balance Transfer
0% for 6 months reverts to 22.24% p.a.
0% BT fee applies. No interest free days apply to retail purchases while you have a Balance Transfer
0% BT fee applies. No interest free days apply to retail purchases while you have a Balance Transfer
Purchase Rate
21.49% p.a.
Rewards Rate One
1 point(s) per AUD$1 On domestic spend up to $10,000 per statement
Details
Card Type
Mastercard
Minimum Repayment
2% or $30
per statement, whichever is greater
Interest Free Period
up to 55
days
Minimum Credit Limit
$2,000
Maximum Credit Limit
$100,000
Fees
Annual Fee
$199
per year
Late Payment Fee
$30
per statement
Cash Advance Fee
3.50% or $3.50
per transaction, whichever is greater
Additional Card Holder Fee
$90
Additional Card Holder Cap
up to 4
additional holders
Rates
Purchase Rate
21.49% p.a.
Cash Advance Rate
22.24% p.a.
Balance Transfer
Balance Transfer
0% for 6 months
reverts to 22.24% p.a.
0% BT fee applies. No interest free days apply to retail purchases while you have a Balance Transfer
0% BT fee applies. No interest free days apply to retail purchases while you have a Balance Transfer
Balance Transfer Limit
80%
of credit limit
Balance Transfer Fee
0%
per transaction
Transfer Interest Free Days
No
Overseas Spending
Foreign Currency Conversion Fee
3.40%
per transaction
Overseas Cash Advance Fee
3.40%
per transaction
Eligibility
Minimum Age
18
years old
Temporary Residents
No
Joint Application
No
Rewards
Program
Velocity Frequent Flyer
Types
Hotel, Cashback, Travel
Bonus
80,000 bonus points
Reward Rates
Rewards Rate One
1 point(s) per AUD$1
On domestic spend up to $10,000 per statement
Rewards Rate Two
1 point(s) per AUD$1
On international spend
Perks
Complimentary Travel Insurance
Yes
Airport Lounge Access
No
Who is the product designed for?
The target market for the Product is individuals who:
- are seeking a line of credit facility for everyday spending to earn up to 1 Reward Points per dollar on certain purchases and make use of complimentary insurances
- meet eligibility criteria and serviceability requirements for the Product
- are unlikely to hold substantial balances for prolonged periods except to take advantage of reduced interest rates and/or instalment repayments on a Fixed Payment Option or a Balance Transfer (including holding a Balance Transfer for longer than the period during which a reduced interest rate applies)
Visit Citi to view Target Market Determination Effective From: 2023-09-30.
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