Citi - Premier Credit Card
Velocity offer
The Citi Premier Credit Card has an annual fee of $150. However, in the first year this will be reduced to $300. This fee will remain at $300 provided $48,000 was spent on eligible purchases or cash advances in the previous year. If not then it will revert to the aforementioned fee.
New cardholders can receive a bonus 110,000 points if $8,000 is spent on eligible purchases within 90 days of approval. This card also earns Velocity points at a rate of 2 point per dollar spent domestically (online only) and internationally. With any other domestic transactions, 2 points is earned per dollar spent.
Earns Velocity Points at a rate of 2 point per dollar spent domestically (online only) and internationally.
Annual Fee
$300 for the first year reverts to $150 per year thereafter
Cash Advance Rate
22.24% p.a.
Purchase Rate
21.49% p.a.
Rewards Rate One
2 point(s) per AUD$1 On online spend up to 200,000 point(s) per year
Details
Card Type
Mastercard
Minimum Repayment
2% or $25
per statement, whichever is greater
Interest Free Period
up to 44
days
Minimum Credit Limit
$10,000
Maximum Credit Limit
$100,000
Fees
Annual Fee
$300 for the first year
reverts to $150 per year thereafter
Late Payment Fee
$30
per statement
Cash Advance Fee
3.50% or $3.50
per transaction, whichever is greater
Additional Card Holder Fee
$0
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
22.24% p.a.
Overseas Spending
Foreign Currency Conversion Fee
3.40%
per transaction
Overseas Cash Advance Fee
3.40%
per transaction
Eligibility
Minimum Age
18
years old
Rewards
Program
Velocity Frequent Flyer
Types
Reward Points, Hotels
Bonus
110,000 bonus points
Reward Rates
Rewards Rate One
2 point(s) per AUD$1
On online spend up to 200,000 point(s) per year
Rewards Rate Two
2 point(s) per AUD$1
On international spend up to 200,000 point(s) per year
Perks
Complimentary Travel Insurance
Yes
Airport Lounge Access
Yes
Who is the product designed for?
This product has been designed for individuals who:
- are seeking a line of credit facility for everyday spending to earn up to 2 Rewards Points per dollar on certain purchases and the ability to access complimentary insurances and Product benefits;
- meet eligibility criteria and serviceability requirements for the Product; and
- 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: 2024-09-09.
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