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Offers 0% interest on purchases and balance transfers for the first 15 months, with a $199 annual fee.

This offer on the Citi Rewards Card gives you a way to save, with 0% interest for 15 months on new purchases and existing balances you transfer from other cards or personal loans (as long as they’re not issued by Citi). This type of interest-free offer can be useful for people who want to pay off a card but also have to make new purchases. Plus, you’ll earn 1 point per $1 for any eligible spending – with a cap of $10,000 per statement period for eligible spending in Australia (there’s no cap overseas).

But at the end of the introductory period, the interest rate for purchases goes to 21.49% p.a. and the interest rate for any remaining balance transfer debt goes to 22.24% p.a. So you’ll usually get the most value from this offer by paying off what you owe during the introductory period.

Pros

0% p.a. on purchases and balance transfers for the first 15 months, with no BT fee
Earns 1 point per $1 spent
Complimentary travel and purchase protection insurance

Cons

High 21.49% p.a. interest rate for purchases after the introductory period
22.24% p.a. cash advance rate applies to any remaining balance transfer after the introductory period

The Citi Rewards Card earns 1 point per $1 on your eligible spending and comes with perks including complimentary mobile phone insurance and purchase protection insurance. With this introductory offer, you’ll get 0% interest on both purchases and balance transfers for the first 15 months when you apply and get approved for this card. But remember to factor in the interest rates that apply to purchases and balance transfers after the first 15 months, as they are on the higher end of the scale for credit cards.

Details

Product details

Product Name	Citi Rewards Card - Purchase and Balance Transfer Offer
Balance transfer rate p.a.	0% for 15 months, then 22.24%
Balance transfer limit	80% of available limit
Purchase rate p.a.	Purchase rate p.a. 0% for 15 months, then 21.49%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	22.24%
Min credit limit	$2,000
Max credit limit	$100,000
Card type	Mastercard

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Rewards program	Citi Rewards Program
Bonus points	N/A
Rewards points per $ spent	1
Rewards points cap	10,000

Fees

Annual fee	Annual fee $199
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	Foreign currency conversion fee 3.4%
Cash advance fee	3.5% or $3.50, whichever is greater
Overseas cash advance fee	$5
Additional cardholder fee	$90
Number of additional cardholders	4

On 1 June 2022, Citi's consumer banking business was acquired by NAB. Citi credit cards are still available for application and will have the Citi brand. However, the contract for these cards is now with NAB.

How to apply

You can apply for this Citi Rewards Card offer online in around 10 minutes and you should receive a response in 60 seconds. Before you start the application, make sure you meet the eligibility requirements and have the necessary information on hand.

Eligibility criteria

Residency. You must be an Australian citizen or permanent resident.
Credit history. This card is only available to people with a good credit score and a history free of defaults and bankruptcy. You can get a free copy of your comprehensive credit report and score through Finder.

Balance transfer debt. Balances can be transferred up to 80% of your credit limit from Australian store cards, personal loans and credit cards not issued under the Citi brand.
Minimum age. You must be at least 18 years of age to apply for a credit card in Australia.

Required documents

Personal information. Personal details such as your full name and contact details including your email address, home address and phone number.
Employment. Information about your job including your role and employer's contact details. You may also need to submit a letter from your employer declaring your income.
Financial details. You'll be asked to provide information about your income, liabilities and expenses.
Balance transfer information. If you want to take advantage of the balance transfer offer, you'll need to provide the details of those accounts.

Card benefits

0% interest on purchases for 15 months. Get a 0% interest rate for purchases you make in the first 15 months when you apply and get approved for this card.
0% p.a. balance transfer offer. Pay 0% p.a. interest for the first 15 months on balance transfers, with no balance transfer fee when you apply and get approved for this card. At the end of the introductory period, any unpaid balance will be charged at the variable cash advance rate, currently 22.24% p.a. Please note that purchases will not be eligible for interest-free days while you have a balance transfer.

Citi Rewards. This card earns 1 Citi Rewards point per $1 on eligible spending in Australia and internationally. There is a spend cap of $10,000 per statement period for Australian spending, but no cap for eligible international spend. The Citi Rewards Program offers a wide range of ways to use your points, including transfers to three frequent flyer programs (Velocity Frequent Flyer, Singapore Airlines KrisFlyer and flybuys), as well as travel, gift cards and cashback available through the Citi Rewards store.
Transfer personal loan debt. Citi is one of the few providers that allow you to transfer the balance of a personal loan to a credit card. Line of credit accounts can also be included in a balance transfer to the Citi Rewards card.
Complimentary travel insurance. Purchase your overseas travel tickets with this card and you and your family can be covered for medical expenses, trip cancellation due to unexpected circumstances, loss or theft of personal items and more.
Other complimentary insurances. This card also gives you access to extended warranty cover for eligible items and purchase protection insurance that protects you against loss, theft or damage to a covered item purchased with the card.
Complimentary Wrapd VIP membership. Receive a one-year complimentary VIP membership and get access to exclusive discounts, cashback deals and more from Wrapd. This is redeemable until 30 September 2024.
Luxury Escapes discount. Until 1 March 2025, you can get 10% off (up to $250) on Limited Time LUX Exclusive hotel offers when you pay with your Citi card through the Luxury Escapes website or app and use the promo code CITI10.
Mobile payment compatibility. Make payments by tapping your eligible smart device at a contactless terminal when you add this card to the Apple Pay, Google Pay or Samsung Pay wallets.
Complimentary mobile phone insurance. If you use your Citi Rewards card to pay for your phone on a contract, you can get cover for your eligible mobile phone or smartphone from accidental damage and theft for up to $1,000 per claim (up to $1,650 per year).

Rates & fees

Annual fee. This card charges a standard annual fee of $199.
Purchase interest rate. The variable interest rate for purchases is 21.49% p.a. This is higher than the average standard credit card interest rate in Australia, which is currently 20.16%.

Interest-free days. If you pay your balance in full by the due date on each statement, you can get up to 55 days interest-free on purchases. You will not be eligible for interest-free days while you carry debt from a balance transfer.
Cash advances. This card charges a variable cash advance rate of 22.24% p.a. You will also be charged a one-time fee of 3.5% of transaction amount or $3.50 (whichever is higher) on domestic transactions, and $5 on overseas cash advances.
Foreign transaction fees. If you use your Citi Rewards Card for transactions in a foreign currency, the standard 3.4% fee will apply.
Additional cardholders. You can add up to 4 additional cardholders to the account for a $90 annual fee per additional card.
Credit limits. You can request a credit limit from $2,000 up to $100,000. The credit limit you're approved for will depend on the lending criteria and your financial history.

Sources

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Amy Finder

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Rich Bryant

January 15, 2024

I dont fully understand what the 55 days on purchase means? does that mean the interest free component is only 55 days and not 12 months on all new purchases?

Sarah Megginson Finder

January 30, 2024

Hi Rich, the 55 days interest free applies to purchases made after the 12-month 0% interest rate period expires.

Rocky

November 23, 2023

Am I correct to say that 55days interest free is not applicable during 12months interest free on retail purchase?

Amy Bradney-George Finder

December 07, 2023

Hi Rocky,

Yes, that’s correct. With the current offer, there would be 0% interest on retail purchases for 12 months anyway. Keep in mind that you would need to pay at least the minimum amount listed on each statement by the due date during the promotional period. I hope that helps.

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October 11, 2023

Link to apply?

Sarah Megginson Finder

October 13, 2023

Hi Rajat, we don’t currently offer this product through Finder, so you can contact them directly to apply.

Greg

August 22, 2023

Where this card says interest free on retail purchases, what is defined as a retail purchase? If I use the card to pay an invoice, would that be considered eligible for the interest free period, or is that considered a cash withdrawal?

Amy Bradney-George Finder

August 25, 2023

Hi Greg,

Here is the definition from Citi’s terms and conditions: “retail purchase means a transaction (including a Citi PayAll payment) other than a cash advance or special promotion, as determined by us at our discretion.” As it sounds like you have a specific invoice and payment in mind, you could call Citi on 13 24 84 to check whether it would be considered a purchase. I hope this helps.

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Stephanie

July 04, 2023

Hi there,

Would you be able to elaborate on this further: ” You will not be eligible for interest-free days while you carry debt from a balance transfer.” Does this mean if I have balance transfers of say $1000 to this credit card, whilst that amount hasn’t been paid off then the 55 days of interest free would not apply? If so, say I purchase something on the 1st of July, when will I need to pay this off by to avoid penalty and late fees?

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Elizabeth Barry Finder

July 12, 2023

Hi Stephanie,

Thanks for your question.

Interest-free days do not refer to penalties or late fees, it just refers to interest that can be charged to the balance on your card. If you pay off your balance in full each statement period you can have up to 55 days interest-free on purchases.

However, if you are carrying a debt from a balance transfer on this card month to month you will not be able to take advantage of interest-free days on purchases.

This article provides a good explanation of interest-free days and how they work.

You would need the balance transfer repaid in full before you can start taking advantage of interest-free days on purchases.

I hope this helps,

Elizabeth

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Citi Rewards Card – Purchase and Balance Transfer Offer

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