Citi shoots to the top of rewards card bonus point offers: here’s how it stacks up
This week, credit card heavyweight Citi announced a set of new bonus point offers on some of its rewards credit cards - including a 150,000 point offer on the Citi Prestige card, the highest around at the moment.
Recent Citi research showed that travel is popular with Aussie rewards lovers, with around 40% redeeming their rewards points with an airline. Citi also shared insights that showed bonus point offers were the most attractive incentive to spenders in the market for a new credit card, with 40% going for an offer of 100,000 points.
The new Citi offers give spenders a chance to bag those sought after bonus points, with offers beginning at 100,000 points, which could net Platinum cardholders 5 free domestic flights between Sydney and Melbourne. The higher 150,000 bonus points on offer with the Citi Prestige card could mean up to 9 free flights for cardholders.
Citi’s new bonus point offers
| Card | Bonus points(when you spend $3,000 in first 90 days) | Annual fee | Points required for Sydney to Melbourne flight | How many flights can you redeem? |
|---|---|---|---|---|
| Citi Prestige | 150,000 | $700 | 15,600 | 9 |
| Citi Signature | 120,000 | $197 in the first year($395 after) | 15,600 | 7 |
| Citi Platinum | 100,000 | $49 in the first year($149 after) | 19,500 | 5 |
The three Citi bonus offers join other rewards card royalty such as Westpac, NAB and American Express, which has two cards offering the same 100,000 points as the Citi Platinum.
| Card | Bonus points | Annual fee | Points required for Sydney to Melbourne flight | How many flights can you redeem? |
|---|---|---|---|---|
| American Express Qantas Ultimate Card | 100,000 (when you apply online, are approved and spend $1,500 within the first 3 months) | $450 | 10,400 | 9 |
| American Express Explorer Credit Card | 100,000 (when you apply online by 2 October 2017, are approved and spend $1,500 within the first 3 months) | $395 | 8,000 | 12 |
| NAB Qantas Rewards Signature Card | 90,000 (when you spend $4,000 within 60 days) | $395 | 8,000 | 11 |
| Westpac Altitude Black (Qantas) | 80,000 (when you spend at least $5,000 within 90 days) | $195 in the first year ($395 after) | 8,000 | 10 |
| Westpac Altitude Black (Rewards) | 80,000 (when you spend at least $5,000 within 90 days) | $195 in the first year ($395 after) | 15,600 | 5 |
But it’s not all about the points earn, Mozo Director Kirsty Lamont reminded spenders. Other freebies, like complimentary insurance covers or a concierge service which add value above and beyond rewards points also factor into a rewards card’s value.
“If you’re a frequent traveller, being able to score free flights is definitely a bonus. But so are other things like complimentary travel insurance, access to airport lounges or deals on accommodation,” Lamont said.
“And for regular spenders, things like purchase protection insurance, the points earn rate at your favourite shops and how many redemption options you have access to can also be important when it comes to choosing the right rewards card.”
For example, Citi, which offers complimentary extended warranty, purchase protection and a concierge service on all three of the above cards, also recently upped the versatility of its rewards offerings, by adding Amazon.com to the list of options for spenders to pay with points.
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On the other hand, cardholders should keep a close eye on factors that may put a dent in the value of their plastic, such as the annual fee, points caps and expiry dates. The amount of points required to redeem particular rewards is also something to keep an eye on.
“Spenders need to weigh up the bonus points on offer against things like annual fees and redemption rates to make sure they’re getting the best deal,” said Lamont.
If that sounds like a lot to take in, then why not head over to Mozo’s Rewards Revealer tool and let us do the hard work for you. Just plug in a few details about how you use your rewards card and what kind of freebies you’re after, and we’ll compare 118 rewards credit cards to find the ones that might suit you.
Please note: Net value based on value of rewards on offer, minus card annual fee. Calculated using annual fee in the first year.
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