As interesting as its name sounds, read on as we take a look at what this card offers and how you can make use of its features. We will also review the card later to help you understand whether it makes sense for you to apply for it or not.
Every eligible transaction you make on clothes, bags, and shoes will earn you 10x rewards which are given in the form of 10 ThankYouSM Points or 4 Citi Miles for each S$1 you spend. You also get the same rate of rewards when you shop at department stores or when you spend on online shopping purchases in Singapore or globally. You can earn a maximum of 10,000 Citi ThankYouSM Points each month across all categories put together. There’s no minimum amount that you need to spend to get these rewards. Also, once you reach this maximum limit every month, you can continue earning rewards at the rate of 1 point for every dollar spent.
Take a look at the following illustration to get a clearer idea about this:
|Spend Category||Monthly Spend||Citi ThankYouSM Points Rate||Citi ThankYou PointsSM Earned per Month|
|Overseas & Local Shopping||S$200||10x||2,000|
|Department Store Spends||S$550||10x||5,050*|
|Other Spends (such as dining, etc.)||S$500||1x||500|
*Although the total number of points you’ve actually earned is 11,000, it will be restricted to 10,550 ThankYouSM Points (the first S$1,000 at 10x and the remaining S$550 at 1x) as per the monthly limit set by the bank. This means that you can earn up to 120,000 ThankYouSM Points every year at 10x and from there on at 1x for every additional spend.
The rewards you earn as you spend on this credit card can help you get further discounts on your future purchases. You can also redeem them to get cash rebates, offset purchases on the spot when you shop, exchange them for merchandise from the Citi ThankYouSM Rewards programme, or redeem them for discounts with more than 900 airlines and 300,000 hotels around the world. Spoilt for choice? We think so.
We feel it does make sense for you to apply for this card. There are a ton of credit cards in Singapore that offer a wide range of rewards. But this shopping credit card manages to make a stand of its own in a fiercely competitive world. Take a look at how it makes a case for itself:
This is probably one of the best features of this card. You get to earn ThankYouSM Points when you shop not just in Singapore, but when you’re travelling overseas as well. Want to get discounts or other offers when you’re on a holiday? All you have to do is to check the local offers that are available in the place where you’re vacationing. It’s that simple.
However, do keep in mind that you need to check to see if the particular outlet or establishment you buy from falls under the Merchant Category Code (MCC) specific to it. This may take some time and effort, but it just may be worth it, considering that you are likely to save money. Check with the bank for more information on what MCCs apply to this credit card.
A card that rewards you both at home and abroad? Sounds too good to be true, but it is.
If your main spends relate to fashion shopping and departmental store purchases, then having this credit card in your wallet would be a good choice.
Say you spend S$500 a month on shopping at your local department store. At 10x Rewards, that makes it 5,000 Citi ThankYouSM Points on just one category every month. What’s more, you stand to get this same rate when you’re on a holiday and want to buy something from the local department store there.
Now, you can redeem the ThankYouSM Points you accumulate over a period of time for various rewards and discounts. For example, let’s say you spend S$10,000 in transactions that qualify for 10x Rewards. That will give you 100,000 Citi ThankYouSM Points. You can redeem 81,000 of these points to get a S$200 voucher from ASA Holidays.
Prefer something smaller? With 8,400 of your accumulated points, you can get a S$20 voucher at [email protected] Or redeem 2,100 Citi ThankYouSM Points for a voucher from Food Republic valued at S$5.
The other categories that you can redeem these points in include entertainment, retail shopping, groceries, and electronics. Considering that you can accumulate up to 120,000 ThankYouSM Points every year and that they remain valid for up to 5 years (60 months), you’re looking at a potential goldmine of rewards.
For many card users, having to meet the minimum spend criterion in order to get the specified rewards is not a very desirable condition. Because, this means that if a purchase does not meet this minimum amount, you won’t get any reward.
With the Citi Rewards Card, you don’t have to worry about that. Since it doesn’t require you to fulfil such minimum amounts, you get rewards for every transaction.
True, this credit card comes with the annual fee waived for the first year. But from the second year, you’ll have to start paying it. See if you will be able to get enough rewards annually to cover the costs of the card.
If you choose to redeem the ThankYouSM Points for cash rebates from Citi, you can get them at the rate of 4,200 points for S$10. That means you get S$200 when you redeem 84,000 points. Considering that the card costs S$192.60 p.a. S$200 will definitely cover the card fee. Moreover, you can still have more points left to redeem since you can accumulate up to 120,000 points every year.
You could also choose to redeem them for other benefits that may be of more value to you.
Now, let’s take a look at how much this card will cost you per year and the other costs associated with using it:
|Annual fee for the primary card||S$192.60|
|Annual fee for the supplementary card||S$96.30|
|Interest rate on cash advance||26.9% p.a.|
|Interest rate on purchases||26.9% p.a.|
|Overseas transaction fees||2.8% of the transaction amount|
|Cash advance fee||6% of the withdrawn amount (minimum S$15)|
|Late payment fee||S$100|
If you feel this card offers you what you’re looking for, you can apply for it if you fulfil the following income criteria:
You can also check out our applications page to find out if you’re eligible to apply for this card.
This card lets you earn up to 10,000 Citi ThankYouSM Points every month, making it 120,000 points in a year. But how does it fare when compared with other rewards cards in Singapore? Let’s find out by making a few comparisons.
The OCBC Titanium Rewards Card, just like the Citi Rewards Card, gives you 10x rewards (OCBC$) for every S$1 you spend on eligible categories. These include clothes, bags, and shoes, and spends at department stores. In addition, this card also gives you the same rate of rewards when you buy electronic goods and gadgets, and children’s & babies’ clothes. The card also offers 10x OCBC$ on purchases made at merchants such as Alibaba, Lazada, Shopee, Mustafa Centre, and many more. Also, you get e-commerce protection which covers you with up to US$200 p.a. for non-delivery of your purchases or delivery of defective products. So the OCBC Titanium Rewards card rewards you in more categories than the Citi Rewards Card, and if your shopping preferences are as variegated, the former would be a better choice. The rewards earning cap is also similar at 120,000 points; however, the OCBC$ expire in 2 years from accumulation, which is way less than what Citi gives you.
Designed especially for women, the DBS Woman's World Mastercard rewards you with 10 DBS Points for every S$5 you spend on online purchases (up to S$2,000 every month). This is unlike the Citi Rewards Card which gives you a higher reward rate of 10 Citi ThankYouSM Points for every S$1 spent on it – five times more than what DBS offers. The Woman’s World card also gives you 3 DBS Points for every S$5 charged on overseas transactions and 1 DBS Point for each S$5 spent on all other purchases. With regard to redeeming the points earned on both these cards, an example may help you decide. Citi gives you a fuel voucher worth S$5 from Shell for 2,100 points, whereas, 2,600 points from DBS will get you a S$40 voucher from Esso.
The UOB Preferred Platinum Visa Card also gives you 10x rewards when you make purchases online or via contactless payment options at physical stores. In other words, for every S$5 you spend on eligible transactions, you will get UNI$10 – this is just one-fifth of that of the Citi Rewards Card. There is a cap of UNI$2,000 per month after which you can continue earning UNI$1 for every 5 dollars spent. In contrast, with Citi you can earn up to 10,000 points every month. The Citi Rewards Card is a good option if you love shopping for your fashion needs online and at department stores. Earn rewards when you use the card to update your wardrobe.
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