Citi Prestige Card Review
The Citi Prestige Card is a rewards credit card offered by Citi. This credit card rewards cardholders on their local as well as overseas purchases in ThankYousm Points. For every S$1 spent overseas, the cardholder will earn 5 ThankYousm Points and for every S$1 spent locally, the cardholder will earn 3.25 ThankYousm Points. Card members also have the option to convert their ThankYousm Points to miles, where 5 ThankYousm Points = 2 air miles and 3.25 ThankYousm Points = 1.3 miles.
Citi also offers card members with an annual “Relationship Bonus” based on the relationship they share with the bank.
Stay pampered everyday with this credit card as it offers a concierge service 24 hours a day to cater to all lifestyle and travel needs. The card also offers additional benefits including complimentary airport transfers in limousines, unlimited airport lounge access to numerous VIP airport lounges across the world, golf privileges through the Citi Prestige Concierge and much more. With shopping privileges, card members will earn additional ThankYousm Points when they spend at Club21.
Apply for this credit card and receive 62,500 ThankYousm Points (equivalent to 25,000 miles) or a Tablet worth S$498. Renewing the Citi Prestige Card membership will offer an additional 62,500 ThankYousm Points as an annual renewal bonus.
Features of Citi Prestige Card
- The card comes with a renewal bonus annually. Paying the annual fee each year will enable cardholders receive 62,500 ThankYousm Points (which can be converted to 25,000 miles) on every renewal.
- Its supplementary cards are free for life and can be easily acquired at no additional cost.
- The card comes with the Gourmet Pleasures programme which gives cardholders access to a wide range of dining deals at the best restaurants across Singapore.
Benefits with Citi Prestige Card
- The card offers unlimited airport lounge access. Cardholders can get a Priority Pass access to hundreds of exclusive airport lounges across the globe without having to pay any membership or lounge pass fee.
- The card comes equipped with a concierge service that is open round the clock. The concierge assists in making hotel bookings, travel reservations, dining reservations and more.
- When cardholders book a minimum stay of 4 nights at any hotel, they can get a complementary extension of 1 night. Cardholders must make use of the Citi Concierge Service to access this offer.
- The card allows cardholders to pay the outstanding balance on the card by scheduling automatic deductions from their bank accounts every month.
- The card offers complimentary one-way airport limousine transfer up to 8 times a year. This is limited to 4 limo transfers in a calendar quarter for principal cardmembers only. Cardmembers can enjoy this benefit if they spend an equivalent of S$1,500 in foreign currency on retail transactions per calendar quarter.
- The cardholder can enjoy golfing privileges as well. Benefits can be obtained using the Citi Prestige Concierge Service.
- Under the exclusive Club21 benefit, card members can earn 10 ThankYousm Points with every S$1 spent at Club21 boutiques. This offer includes only participating boutiques.
- In the event that a card member loses their credit card overseas, Citi will issue them with a replacement card generally within 48 hours anywhere in the world. The bank will also provide emergency cash depending on the available credit limit.
Citi Prestige Card Promotions
Expedia: Citi cardholders can enjoy a discount of 15% when they use their card to carry out bookings on Expedia. Bookings need to be made before 31 December 2017 for stays until 31 March 2018.
Lazada: New Lazada customers can earn 20% discount by using the promocode CITILAZ20. Existing customers can enjoy 8% off on purchases made through their desktop using the promocode OFFICIALCITI and 12% off when they purchase through the app by using the code OFFICIALCITIUP. On Lazada express, existing customers can get S$6 off on a minimum spend of S$60 through their desktop (promocode - EXPRESSCITI) and S$6 off on a minimum spend of S$30 when they purchase through the app (promocode - EXPRESSCITIUP).
Citi is a leading banking institution not just in Singapore but globally as well. The bank offers an array of banking products and services. Their credit card offerings are a popular choice in Singapore. The bank offers a wide range of credit cards that cater to different consumers.
Joining perks/benefits of Citi Prestige Card
Apply for the Citi Prestige Card and choose between the following welcome gifts:
- 62,500 ThankYousm Points (= 25,000 miles) OR
- Tablet worth S$498
Note that the annual fee for this credit card is non-waivable.
Citi Prestige Card Rewards Program
- The card earns ThankYousm Points on every eligible expense charged to the card. The ThankYousm Points that can be earned are unlimited and does not come with any cap.
- ThankYousm Points can be redeemed either as cash rebates or miles, and can even be redeemed instantly at select merchant outlets in Singapore and overseas.
- Cardholders get an additional annual bonus (in the form ThankYousm Points based on retail card purchases made annually) depending on the relationship they share with the bank. For Citigold or Citigold Private Clients, the annual relationship bonus given is 15% if they complete a tenure of 0 to 5 years, 20% if they complete tenures of 6 to 10 years, and a 30% bonus if they complete a tenure of over 10 years.
Insurance Benefits with Citi Prestige Card
- When cardholders charge the complete cost of the air tickets to their card, they will receive complimentary travel insurance with a cover of up to S$1 million for themselves and up to S$50,000 for their dependent child.
- The policy also offers a host of medical benefits that covers the cardholder under various circumstances while travelling overseas. Cardholders can get reimbursement of medical expenses (pre-listed events/conditions) for up to S$50,000 and reimbursement of up to S$25,000 for any dependent child travelling with them. The policy also gives them S$100,000 cover in case of emergency medical evacuations and S$50,000 for repatriation.
- Travel inconveniences such as baggage delay, baggage loss, missed flight, delayed flight, etc. are also insured.
- The card also offers purchase protection for items purchased using this Citi card in case of accidental damage and/or theft within a period of 30 days from the purchase date.
Citi Prestige Card Fees and Charges
|Type of fee
|Supplementary card fee
||Free for life
|Late payment charges
|Cash advance fee
||The higher of 6% of the withdrawn amount OR S$15
|Interest on cash advance
Citi Prestige Card Foreign Currencies Transactions Charges
The card charges a fee for transactions carried out in foreign currencies. For transactions carried out in US dollar (USD), the amount is converted directly into Singapore dollar (SGD). For transactions carried out in any other foreign currency, it is first converted into USD and then into SGD.
- Conversions are subject to a foreign exchange rate. This rate is the prevailing exchange rate at the time of posting of the transaction which is not necessarily the same as the date of transaction. Transactions on the Citi Prestige Card are charged by MasterCard and an administrative fee of up to 2.8% will hold applicable.
- For transactions made using DCC or Dynamic Currency Conversion, the transaction amount is subject to a conversion fee charged by the ATM or merchant at the rate of of 1% charged on the converted Singapore Dollar amount by MasterCard.
- An administrative fee of 1% is charged by MasterCard on those transactions that are carried out in Singaporean Dollars but made overseas.
How to Apply for the Citi Prestige Card?
Interested applicants can apply for the Citi Prestige Card directly on Bankbazaar.sg easily by providing the necessary personal and financial details.
Citi Prestige Card Eligibility
- The card can be applied for by Singaporean citizens, Permanent Residents and foreign nationals.
- The minimum age of the principal cardholder is 21 years and the supplementary cardholder must be 18 years old.
- The minimum annual income required to be eligible for this card is S$120,000.
Documents Required to Apply for the Citi Prestige Card
For salaried employees:
- A copy of the applicant’s NRIC – both front and back and
- A copy of the applicant’s most recent computerised payslip or
- A copy of the applicant’s most recent Income Tax Notice of Assessment (NOA) or
- A copy of the applicant’s CPF statement for the most recent 12 months
For self-employed applicants:
- A copy of the applicant’s NRIC – both front and back and
- A copy of the applicant’s Income Tax NOA for the last 2 years and
- A copy of the applicant’s bank statements for the last 3 months
For foreign applicants:
- A copy of the applicant’s Passport, both front and back, along with their Work Permit and
- A copy of the applicant’s telephone bill, utility bill, or/bank statement to serve as residential address proof containing their name and address and
- A copy of the applicant’s most recent Income Tax NOA and
- A copy of the applicant’s most recent computerised salary slip
Citi Prestige Card Interest Rates
The prevailing interest rate on card transactions on the Citi Prestige Card is 26% p.a. The interest rate for cash withdrawals is 26.9% p.a. Cardholders can enjoy a promotional retail interest rate on card transactions at 20% p.a. and an interest rate of 20.9% p.a. on cash withdrawals if they maintain their accounts in good standing. This can be attained through timely and full payments.
Failure to maintain the account in good standing will result in a penalty interest rate being charged. The rate will be increased to 29% for card transactions and 29.9% for cash withdrawals. When cardholders begin to clear out payments on their card balances and do not have any overdue amount in the present month and for 2 months in the previous 6 months, then the interest rate is reverted to the prevailing rate of 26% p.a. on retail transactions and 26.9% p.a. on cash advances.
Any payments not made in full will result in interest being calculated on total unpaid transactions. Interest is calculated on a daily basis from the date of transaction until the date of repayment.
Citi Prestige Card Bill Repayments
The minimum payment amount for the Citi Prestige Card is based on the outstanding balance of the card and can be either of the following:
- 1% of the current balance + 1% of outstanding unbilled instalment amounts + interest charges inclusive of service charges on instalment/recurring payments + any late payment charges (if applicable) + any amount exceeding the credit limit (if applicable) or S$50, depending on whichever of the two is higher.
- If the outstanding balance on the card is under S$50, the minimum payment is equal to the total outstanding amount.
Cardholders are given a grace period of 25 days for repayments. Repayments can be made by way of cheque, interbank GIRO, or online banking. If payments are being made at a Citi branch, cardholders can use the Cash Deposit Machine or the Express cheque deposit box.
What should you do if your Citi Prestige Card is Lost/Stolen?
Cardholders who have lost their card, or have had it misplaced or stolen, must report it to Citi immediately or upon the discovery of the fact. Failure to do so will result in the cardholder being completely liable for any fraudulent transaction carried out on their card.
However, if they notify Citi on time, provide all the statutory documents the bank might require, and convince Citi that the loss or theft did not take place due to negligence on their part, then the maximum liability of the cardholder is limited to S$100. If, in the meanwhile, the cardholder finds their card after they have notified Citi, they are advised to cut the card in half and wait for the replacement card to be issued.
Reporting Lost/Stolen Credit Cards
Cardholders must ensure that they keep their card safe at all times and not disclose their PIN to anybody. In the event they lose their credit card or have it stolen, they must immediately, or at the earliest, report the loss or theft to the bank. The quickest way to report the loss of a Citi credit card is through the Citi Mobile App. Cardholders can also request for a replacement of their card through the app. However, if the cardholder does not have a Citi Online account, they can call the bank on the CitiPhone banking number available 24/7 to report the loss/theft.