Yahoo Finance Citi Rewards Credit Card Review 2024—Accumulate Points for Miles, Cash Rebates and More
If you shop a lot, buy groceries for the whole family, dine out often and take rides everywhere, the Citi Rewards Credit Card may be the most worth it for you.
Its main draw is points accumulation which can be converted into frequent flyer miles or cash rebates. It offers 10X rewards points or $1 for 4 miles for online purchases across several categories such as online groceries, food delivery, ride-hailing, and offline purchases in department stores and several fashion brands.
Let’s dig in to see what else this card offers.
Citi Rewards Credit Card—MoneySmart Review 2024
 Overall: ★★★☆☆ (3.5/5) | |||||
Pros—What we like | Cons—What we don’t like | ||||
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Citi Rewards Card | |||||
Category | Our rating | The deets | |||
Earn rates: Cashback | ★★★★☆ |
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Earn categories | ★★★★☆ | ||||
Annual fees and charges | ★★★★☆ |
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Accessibility | ★★★☆☆ |
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Extras/periphery rewards | ★★★☆☆ |
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Sign-up bonus | ★★★☆☆ | Receive 40,000 bonus Citi ThankYouSM Points with a minimum spend of S$800 in the first 2 months | |||
See our credit card ranking rubric to find out how we rank credit cards.
Citi Rewards Card: Summary
The Citi Rewards Card by Citibank has been around for quite a few years and is one of the bank’s main cards for those who wish to rack up points in the Citi Rewards Programme.
The card lets you earn Citi Rewards points (which can also be exchanged for miles) when you shop online and offline, take Grab or Gojek rides or spend on online food or grocery delivery.
The Citi Rewards Card is a reliable option for building points within Citi’s Rewards Programme. It lets you earn points, which can be converted to miles on all sorts of purchases including—online shopping, offline sprees, Grab/Gojek rides, and even online food and grocery deliveries. Swipe it for everyday spending and watch those points pile up—pretty satisfying.
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Citi Rewards Card
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Valid until 21 Apr 2024
More Details
Rewards Features
Redeem rewards points across multiple categories via the Citi Mobile® App for dining and shopping vouchers, Pay with Points, cash rebates, and more
Annual Interest Rate and Fees
Annual Interest Rate |
|---|
S$196.20 (incl. 9% GST) |
S$98.10 (incl. 9% GST) |
Available |
1% plus 1% of any outstanding unbilled instalment amounts plus interest charges plus late payment charge or S$50, whichever is higher |
25 days |
Minimum Income Requirements
Singaporean/PR Minimum Income |
|---|
S$42,000 |
Documents Required
SG Citizens or PRs |
|---|
6 months |
6 months |
With Full Name and Address |
Wireless Payment
MasterCard PayPass |
|---|
Card Association
Citi Rewards Card—How does it work?
The Citi Rewards Card offers rewards points when you spend with a base earn rate of: 1X point per $1 spent. You can earn up to 10X points (equivalent to 4 miles) for spending on certain items.
Here’s what you can spend on to get that sweet, sweet 10X point earn rate:
Online purchases, including:
Groceries (e.g. NTUC FairPrice, Cold Storage, Redmart)
Food delivery (e.g. Deliveroo, Foodpanda)
Ride hailing (e.g. Grab, Gojek)
Offline in-store purchases
Department stores
Men’s, women’s and children’s clothing stores
Sports and riding apparel stores
Shoe stores
Miscellaneous apparel and accessory shops
Luggage and leather goods stores
The 10X Rewards comprise:
1X base point for every $1 spent
9X bonus points for every $1 spent
Here’s an example:
Category | Points eligible | Amount spent (S$) | Base points earned | Bonus points earned |
Department Stores | 10X | 800.99 | 800 x 1 = 800 | 800 x 9 = 7,200 |
Shoe stores | 10X | 550.24 | 550 x 1 = 550 | 550 x 9 = 4,950 |
Total | 1,350 | 9,000* | ||
Bonus points are capped at 9,000 per statement month, so that’s the maximum amount you’ll get even though 7,200 + 4,950 = 12,150.
However, with the base and bonus points, you’ll earn a total of 10,350 points.
For any spending that does not qualify for the 10X rewards points, you receive the base earn rate of 1X reward point for every $1 spent.
Unfortunately, mobile wallet and travel-related transactions do not earn 10X points. This includes airlines, car rental agencies, travel accommodations, passenger transport and railways, cruises, travel agencies, and other travel-related purchases. So if you’re thinking of racking up points on big-ticket travel purchases, you’re out of luck.
Another benefit is free travel insurance when you buy and pay for your airfare with the Citi Rewards Card.
The card also gives you discounts—up to 14%—at Esso and Shell:
5% Esso station discount + 5% Esso Smiles discount + 4% Citi Card discount
5% Shell site discount + 5% Shell GO+ discount + 4% Citi Card discount = Total of 14% savings effectively
Most types of spending should be eligible for at least the 1X point earn rate, but there are some categories in which you cannot earn any points, according to the terms and conditions. They are:
annual fees, interest charges, late payment charges, GST, cash advances, installment/easy/extended/equal payment plans, preferred payment plans, balance transfers, cash advances, quasi-cash transactions, fees and charges
funds transfers using the card
Bill payment
educational institutions
payments to government institutions and services including fines, taxes, postal services, parking
insurance
financial institutions
non-profit organisations
betting or gambling
top-ups to payment service providers, prepaid cards or prepaid accounts
transit-related transactions
Citi Rewards Card | |
Annual Fee | $196.20 |
Annual Fee Waiver | Available |
Supplementary Card Annual Fee | $98.10 (waived for first year) |
Interest Free Period | 25 days |
Annual Interest Rate | 27.9% |
Late Payment Fee | Determined by Citibank |
Minimum Monthly Repayment | 1% plus 1% of any outstanding unbilled installment amounts plus interest charges plus late payment charge or S$50, whichever is higher |
Foreign Currency Transaction Fee | 3.25% |
Cash Advance Transaction Fee | 8% or $15, whichever is higher |
Overlimit Fee | $40 |
Minimum Income | $30,000 (Singaporean/PR) / $42,000 (non-Singaporean) |
Card Association | Mastercard |
Contactless Payment | MasterCard PayPass, Apple Pay, Samsung Pay, Google Pay, Citi Pay |
Should I get the Citi Rewards Card?
So scoring those sweet 10X points sounds pretty awesome, especially if you’re the type who’s always grabbing new threads, hopping into cabs, or feasting at home. This card’s a real winner for those who constantly find themselves picking up the tab for the fam—whether you’re ordering in during movie nights or when you’re organising those Lululemon hauls with your yoga crew.
Your points can then be converted to miles (10X points = 4 miles), or redeem them for vouchers, products or cash rebates. Check out Citibank’s website to find out the whole range of redemptions available.
But here’s the deal: to max out at 9X bonus points, you have to stick to spending no more than $1,000 per month on the statement. Anything over, and you’re missing out on extra rewards. If you’re regularly hitting that limit and then some, it might be worth looking into adding another card to your wallet for even more goodies. That might sound a little troublesome for the lazy folks who want to go all in for a single card.
Now, onto the not-so-great part: this card doesn’t give you any points for your travel expenses. Yeah, that’s kind of a bummer if you’re a globe-trotter. If you’re all about those travel adventures, it might be time to find a card that’s got your back no matter where you roam.
Citi Rewards Card sign-up promo
Sign up for the Citi Rewards Card and get a welcome gift of 40,000 bonus Citi ThankYou Points when you spend $800 in the first 2 months.
If you sign up on MoneySmart’s website, you also get exclusive MoneySmart promotions not available elsewhere. Check back for new promos as they are subject to change.
Alternatives to the Citi Rewards Card
If you’re still not too sure about the Citi Rewards Card, here are a couple of alternatives to consider:
HSBC Revolution Card
10X rewards points (equivalent to 4 air miles or 2.5% Cashback) for every S$1 spent online or via contactless payments
1X reward point for every $1 spent on all other categories
MoneySmart Exclusive
Earn up to 4 miles per S$1 | Instant Activation*
HSBC Revolution Credit Card
MoneySmart Exclusive:
Get a Hinomi Q1 Ergonomic Chair (worth S$499) or a Samsung 27-inch Smart Monitor M5 (worth S$432) or an Apple AirPods 3rd Gen + S$50 Cash (worth S$313.80) or S$150 Cash via PayNow when you apply and spend a min. of S$500 from Card Account Opening Date to the end of the following calendar month. T&Cs apply.
Valid until 21 Apr 2024
More Details
Key Features
10X Reward points (equivalent to 4 miles or 2.5% Cashback) on online purchases and contactless payments.
1X Reward point for all other types of spending.
No min. spend required.
No annual fee
Receive complimentary access to ENTERTAINER with HSBC app, with over 1,000 1-for-1 deals on dining, lifestyle and travel worldwide.
Cap of 10,000 rewards points per calendar month on eligible purchases. Other terms apply.
Annual Interest Rate and Fees
Annual Interest Rate |
|---|
S$0 |
S$0 |
3% or S$50, whichever is greater |
20 days |
Minimum Income Requirements
Singaporean/PR Minimum Income |
|---|
S$40,000 |
Wireless Payment
Visa Contactless |
|---|
Card Association
Standard Chartered Rewards+ Credit Card
10X rewards points (equivalent to 4 air miles) for every S$1 spent in foreign currency
5X rewards points for every S$1 spent locally
1X reward point for every $1 spent on all other categories
MoneySmart Exclusive
Earn up to 10X Rewards Points
Standard Chartered Rewards+ Credit Card
MoneySmart Exclusive:
Get a Sony LinkBuds S Earbuds (worth S$309) or a Lenovo Tab M10 Gen 3 (worth S$299.01) or up to S$230 Cash via PayNow when you apply and meet the relevant spend criteria! T&Cs apply.
Valid until 21 Apr 2024
More Details
Key Features
10X Rewards Points per S$1 spent in foreign currency, including online spends
5X Rewards Points per S$1 spent in Singapore Dollars for local dining transactions
1X Rewards Points per S$1 on all other spends
1 year annual fee waiver, no minimum spend required
At MoneySmart, we strive to keep our information accurate and up to date. This information may be different from what you see when you visit a financial institution, service provider, or specific product site. MoneySmart shall not be liable to compensate the Customer should the information is not as updated as our Partner.
Annual Interest Rate and Fees
Annual Interest Rate |
|---|
S$196.20 |
N/A |
Available |
S$50 OR 1% of principal / interest, fees & charges / overlimit amount / past due amount, whichever is higher |
Minimum Income Requirements
Singaporean/PR Minimum Income |
|---|
S$60,000 |
Wireless Payment
Visa Contactless |
|---|
Card Association
It all depends on your spending habits and what types of categories you are most likely to spend on, so you can use the right card to get the most number of points.
However, if you are more interested in the points to be converted to miles, it may be more worth it getting an air miles credit card with a good earn rate. Plus, many also offer pretty good welcome bonuses!
What is your favourite credit card sign-up promotion? Share your recommendations in the comments!
The post Citi Rewards Credit Card Review 2024—Accumulate Points for Miles, Cash Rebates and More appeared first on the MoneySmart blog.
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Original article: Citi Rewards Credit Card Review 2024—Accumulate Points for Miles, Cash Rebates and More.
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