BestCreditCards.sg's Review of Citibank Rewards Card VISA
|Highlights||Credit Card Feature|
|Things We Like||10 Reward Points for every $1 spent on shopping locally and overseas|
|Our Least Favourite||Cap on 10X points you can earn each year|
|Our Verdict||Rewarding card for shopaholics who shop in-store and online|
- *NEW* PayAll feature: Earn miles/reward points (depending on card type) when you pay your tax, rent, condominium management fee, school fee or electricity bill with Citi PayAll on the Citi Mobile® App.
- Redeem your points from an amazing range of merchandise from across the globe or for the perfect holiday through Citi ThankYousm Rewards.
- Indulge in exclusive shopping and online shopping deals
- Save up to 14% on fuel at Esso and Shell.
- Enjoy complimentary travel insurance and hence peace of mind for you and your loved ones when you charge your airfare to your Citi Rewards Card.
- Indulge in gastronomic adventures with Citibank Gourmet Pleasures
- Intro Interest p.a.
Transfer your outstanding balances on any other bank's credit card or credit line to Citibank at 0% nominal interest rate for 3/6/12 months with an upfront service fee from 1.58%. Eligible for new Citibank customers who apply for Citibank Ready Credit account with minimum $500 loan
- Annual Fee
$192.60 waived the first year
- Minimum Income
S$30,000 per annum (Singaporeans and PRs); S$42,000 per annum (Foreigners)
- Standard Interest p.a.
Citibank Rewards Card VISA is one of the top credit cards in Singapore for those who love to shop. It has a very flexible rewards programme which allows cardholders to redeem reward points for not only air miles but also shopping vouchers, dining vouchers and rebates, allowing you to earn as you spend! While most shoppers would benefit from the Citi Rewards programme, those with a soft spot for buying clothes, shoes and handbags would benefit the most. Here we'll explain why as we review Citibank Rewards Card VISA.
Things We Like About Citibank Rewards Card VISA
The annual fee is waived the first year. This card has an annual fee of $192.60, waived the first year. The supplementary card's annual fee of $96.30 (including GST) for up to 2 cards is also waived the first year.
Earn 10 Reward Points or 4 Miles for every $1 spent on shopping locally and overseas, and all your online purchases (except travel-related transactions)! These points will be earned when you shop. This is valid for local shopping as well as overseas shopping - so earning points doesn't end when you go on holiday. You can also earn 10X Rewards on your online purchases, with the exception of travel-related transactions, determined by Merchant Category Codes (MCC). Every $1 spent on these purchases lets you earn 10 Citi Dollars (rewards points), the maximum amount of Citi Dollars cardholders can earn from 10X Rewards is 120,000 per year, capped at 10,000 Points per statement month. After the cap is reached, you can continue to earn 1X Reward for every S$1 spent. Terms and Conditions apply.
Earn 1 Reward Point for every other $1 spent. You earn 1 Reward Point for every $1 spent on all other purchases you make. So just using this card to pay for the everyday facts of life will help you chalk up rewards towards things you want. Loans and cash transfers don't apply (obviously), but for every actual purchase of goods and services you charge to this card, you will earn rewards.
Enjoy a varied rewards programme. The Citi rewards programme is very flexible indeed. You can redeem your Reward Points for miles on your preferred frequent flyer programme, for shopping or dining vouchers online, or even for cashback. There's even an option to redeem your points for cashback via SMS.
Citi privileges. As a Citi cardholder, you'll enjoy perks such as dining deals from Citibank Gourmet Pleasures, which helps you get more delicious food and good times for your money.
Petrol savings. When you use this card to pay, you get up to 14% savings on fuel at Esso and Shell.
You get instant rebates. When you use this card to pay at over 300 merchant outlets in Singapore, you get an instant Citi Rebate, which can be as high as 10% at some merchants.
You benefit from free travel insurance. When you use this card to pay for travel bookings, you get these insurance coverages on a complimentary basis:
Accidental death and permanent disablement insurance (for accidents on common carriers). You can get a benefit of up to $1,000,000 each for you and your accompanying spouse, and $50,000 for accompanying children.
Medical and accidental dental expenses incurred while on a covered trip outside Singapore. This covers up to $40,000 of unforeseeable medical expenses and dental work needed due to an accident.
Emergency medical evacuation and repatriation. If you have to be transported back to Singapore or to another country in order to receive proper medical care, you can get up to $100,000 of emergency evacuation expenses covered, plus coverage for up to $50,000 of repatriation expenses.
Baggage loss coverage. If your baggage is lost by an airline or other common carrier, you can claim up to $500 per piece of luggage, up to a maximum of $1000 total.
Baggage delay coverage. If your airline doesn't get your luggage to your destination on time, you can get up to $200.00 per 8-hours consecutive delay, up to a maximum of $500 for total luggage.
Flight delay coverage. If you're left stranded in an airport waiting for a delayed flight, you can claim $100 for every 8-hours of consecutive delay, up to a $500 max.
Trip cancellation coverage. If you are forced to cancel a trip due to eligible, unforeseen circumstances, you can claim up to $500 coverage for your non-refundable tickets and hotel bookings.
Trip interruption. If your trip is interrupted by a medical situation and you are forced to spend a minimum of 5 consecutive days of hospitalization overseas, you can claim up to $500 coverage.
Visa Checkout is a digital payment service which makes your online shopping a lot easier because you don't have to tap in your credit card information every time you make a purchase. This service isn't accepted at all online merchants, but you can use it at most of the big stores.
Visa Deals. Just using this Visa credit card to pay lets you get special deals at some merchants. A Golden Village offer lets you get 4 tickets for the price of 3 when you pay with your Visa card. In our opinion, you don't get as many deals with Visa as you do with MasterCard.
0% interest rate on transferred debts for 3, 6 or 12 months. When you apply for this card you can also apply (via hotline or in person) to transfer debt from another bank's credit card or credit line to Citibank. You can enjoy a 0% interest rate on debts you transfer for the first 3, 6 or 12 months. Upfront service fees of 1.58% for 3 months, 2.5% for 6 months or 5.50% for 12 months apply, but if you are paying an average 24% interest rate per annum for your debts, you can save a lot. The amount of debt you transfer must be less than 90% of your Citibank line of credit. After the 3, 6 or 12 month introductory 0% interest period, you will pay the regular 26% interest per annum for any remaining debt. This is a huge benefit, as you can pay off your debt for up to 12 months without having to pay more interest.
Visa payWave. This technology lets you make contactless payments at many big-name stores and fast food locations. If you're a tech buff or just like to shave a couple of seconds off each card payment you make, you'll probably enjoy this perk.
Our Least Favourite Things About Citibank Rewards Card VISA
The cap on 10X points you can earn each year. The 10X you earn in certain categories are a great way to earn rewards fast. But sadly, they are capped at 120,000 per card anniversary year. If you don't spend more than $12,000 on shopping and online purchases each year, that won't be an issue, but big spenders may feel the squeeze. After hitting the 120,000 point cap, you will still earn 1 point per $1 spent.
Foreign currency transaction fees. This is a great card for shopping online from stores in Singapore, but when you shop at online stores outside of Singapore, you will pay foreign currency transaction fees totaling 3.25% of the amount you spend. Most credit cards in Singapore charge the same, but CIMB has recently added a waiver of the 1.5% admin fee for foreign transactions made using CIMB Visa Signature. That CIMB card also lets you earn 10% cashback when you shop online in foreign currencies. If you do a lot of online shopping from merchants outside of Singapore, consider using that card for that part of your online shopping.
How Other Cards Compare With Citibank Rewards Card VISA
|Intro APR:||Transfer your outstanding balances on any other bank's credit card or credit line to Citibank at 0% nominal interest rate for 3/6/12 months with an upfront service fee from 1.58%. Eligible for new Citibank customers who apply for Citibank Ready Credit account with minimum $500 loan|
|Regular APR:||26% p.a.|
|Annual Fee:||$192.60 waived the first year|
|Regular APR:||24.99% p.a.|
|Annual Fee:||S$53.50 (inclusive of GST)|
|Intro APR:||2.50% p.a. for 6 months on balance transfers or 4.88% p.a. for 12 months on balance transfers both with a processing fee of $88|
|Regular APR:||25.9% p.a.|
|Annual Fee:||S$150 waived for the first 2 years|
Citibank Rewards Card VISA gives you higher rewards for fashion shopping than any other credit card in Singapore at this time.
Overall, Citibank Rewards Card VISA is a great credit card to use when you shop online or in-store. This certainly isn't a card for tight-wads looking to save on basic expenses. Instead, this credit card will reward those of you who really love shopping, scoring deals and getting more for your money. The solid travel insurance you get make this a good card to use for travel bookings as well.
If you are a shopaholic and want to get rewarded for your spending, Citibank Rewards Card VISA can be one of the best shopping partners you could hope to find.See more Citibank credit cards.