Citi Rewards Credit Card (Balance Transfer)

21.49% p.a.

0% p.a. for 26 months and then 22.24% p.a. (1.50% balance transfer fee)

$149 $49 in the first year

Citi Rewards Program

Citi Rewards Credit Card (Balance Transfer)

21.49% p.a.

0% p.a. for 26 months and then 22.24% p.a. (1.50% balance transfer fee)

$149 $49 in the first year

Citi Rewards Program

Mozo Review   Citi Rewards Credit Card (Balance Transfer) Review

Last updated: 20 January 2020.

What's hot:
  • 0% p.a. balance transfer rate for 26 months (1.5% BT fee)

  • $49 annual fee in the first year ($149 after)

  • 1 point per dollar on Visa, up to $10,000 per month

What's not:
  • High 21.49% purchase rate

  • High 22.24% cash advance rate

Mozo snapshot:

Looking to blast away debt? Choose the balance transfer offer with the Citi Rewards card and you’ll get a leisurely 26 months interest free to pay off transferred balances (1.5% BT fee applies), plus pay a discounted annual fee of $49 in the first year while you’re getting a handle on your debt ($149 afterwards).

Key features:

By choosing the Citi Rewards Balance Transfer Offer you can snag 26 months of 0% p.a. interest to pay off existing debts. Just keep in mind that leftover balances after this period will start attracting interest at a revert rate of 22.24% and there is a 1.50% BT fee to consider. And it's important to note that you won't have interest free days on new retail purchases while you have a balance transfer.

And, as if that wasn’t enough, you’ll pay a discounted annual fee of $49 in the first year of having this card, giving you some extra breathing room to manage your existing debt. After the first year, the annual fee rises to $149.

On regular spending, you’ll get up to 55 interest free days, plus earn 1 point per $1 spent, up to $10,000 a month. The card can be linked to Apple Pay and Samsung Pay, plus it comes with perks like a free concierge service, complimentary travel insurance, extended warranty, purchase protection and a free bottle of wine when you dine with the Citi Dining Program.

If you’re more of a rewards lover, check out the Citi Rewards Bonus Points offer.

Who it's good for:

This card is a great pick for anyone looking to clear existing credit card debt, then have a premium piece of plastic in their wallet for future spending.

Any catches?

The annual fee will jump to $149 after the first year so if you’ve been sold on having a low annual fee, know it’s going up. Plus, keep in mind that while you’re taking advantage of a balance transfer offer, you won’t get any interest-free days on your regular spending.

Rewards program details

Rates and fees information correct as at 29 February 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
What your points get you

Fly Sydney to London return

299,000 points

Fly Sydney to Melbourne one-way

19,500 points

$100 Giftcard

22,300 points

$100 Cash

40,000 points

Points earning

1 point per dollar on Visa, up to $10,000 per month

Rewards scheme

Transfer points to a range of airline programs or redeem your points for travel, cashback, gift cards, retail rewards and shopping gift cards.

You can redeem flights via Velocity, Singapore Krisflyer, or Emirates Skywards.

Points uncapped for eligible international purchases.

Instant discounts via Citi World Privileges

Value of rewards points

Spend $40,000 (Visa)

Spend $22,300 (Visa)

Spend $19,500 (Visa)

Spend $299,000 (Visa)

at $10,000 monthly

Never

How do we calculate the rewards?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,

  • figure out how many flights or gift cards or cashback credits you could get for those points,

  • work out what that's actually worth to you,

  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.

  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.

  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.

  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.

  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.

  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.

  • Shopping rewards are based on $100 gift cards from a major national department store.

  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

Close

Rate and fee details

Rates
  • 21.49% p.a.

  • none

  • 0% p.a. for 26 months and then 22.24% p.a. (1.50% balance transfer fee)

  • yes

  • 22.24% p.a.

  • 55

Fees
  • $149.00

  • $49 in the first 1 year

  • none

  • none

  • $30.00

  • 3.5%, min $3.50

  • 3.40%

  • $0.00

  • $7.00

  • $90.00

Features
  • $30.00

  • 2.0

  • 4

  • none

Payment options

Apple Pay, Samsung Pay

Rewards privileges

Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection

Other benefits

Free wine every time you dine with the Citibank Dining Program when you pay with your Citi Credit Card.

Customer Reviews

How are Citi credit cards rated by the Mozo community?

Overall customer rating
5.2/10

Based on 1266 Citi credit card reviews

Price
4.8/10
Features
5.5/10
Customer service
5.0/10
Convenience
5.0/10
Trust
5.2/10

Latest reviews of Citi Rewards Credit Card (Balance Transfer)

  • Overall 1/10
    Surprise fees

    I only joined because of a "no annual fee" for lifetime offer. If you are very careful it is alright. I thought I was, but even so, I have lost hundreds of dollars from unexpected fees. The last foreign currency transaction costed me $35 on top of the transaction itself.

    Read full review

    I only joined because of a "no annual fee" for lifetime offer. If you are very careful it is alright. I thought I was, but even so, I have lost hundreds of dollars from unexpected fees. The last foreign currency transaction costed me $35 on top of the transaction itself.

    Price
    1/10
    Features
    2/10
    Customer service
    2/10
    Convenience
    8/10
    Trust
    0/10
    Less
    Aximili, Victoria reviewed about 4 years ago
  • Overall 7/10
    Great customer service

    Have been with this bank for quite a few years. Points are great if you know how to use them. Fees are ok as long as you pay in time.

    Read full review

    Have been with this bank for quite a few years. Points are great if you know how to use them. Fees are ok as long as you pay in time.

    Price
    7/10
    Features
    6/10
    Customer service
    7/10
    Convenience
    3/10
    Trust
    5/10
    Less
    Lee, Victoria reviewed over 4 years ago
  • Overall 5/10
    Interest rate is high

    Very ordinary.

    Read full review

    Very ordinary.

    Price
    4/10
    Features
    5/10
    Customer service
    4/10
    Convenience
    7/10
    Trust
    5/10
    Less
    David, New South Wales reviewed over 4 years ago
  • Overall 8/10
    Excellent customer service and great rewards

    I like this bank because if a transaction comes from a merchant not previously used by me I get a call immediately to verify it was me. They are extremely understanding and sympathetic for late payments and reverse late payment fees and interest.

    Read full review

    I like this bank because if a transaction comes from a merchant not previously used by me I get a call immediately to verify it was me. They are extremely understanding and sympathetic for late payments and reverse late payment fees and interest.

    Price
    6/10
    Features
    7/10
    Customer service
    9/10
    Convenience
    7/10
    Trust
    8/10
    Less
    Miriana, New South Wales reviewed over 4 years ago
  • Overall 3/10
    Ridiculously inflated interest rates

    With the current interest rates at record lows, credit cards at over 21% is at extortion levels, they are legal loan sharks. They should be made to re configure their rates in keeping with the current environment. I pay my account out in full every month so it does not affect me like it would with others less fortunate than me.

    Read full review

    With the current interest rates at record lows, credit cards at over 21% is at extortion levels, they are legal loan sharks. They should be made to re configure their rates in keeping with the current environment. I pay my account out in full every month so it does not affect me like it would with others less fortunate than me.

    Price
    0/10
    Features
    3/10
    Customer service
    5/10
    Convenience
    8/10
    Trust
    8/10
    Less
    David, New South Wales reviewed almost 5 years ago
Citi

About Citi

Citi is the consumer banking arm of Citigroup, one of the world's biggest financial institutions. Citi was the first foreign bank to be granted a banking licence to operate in Australia. Citi is now the largest international bank in the country, serving millions of Australians with credit cards, mortgages, deposit accounts, charge cards and more.

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