Citibank Select Card Rewards transfer rate to Velocity/Kris/Asiamiles?

[Ozvirginuk]

Hi Everyone,

I'm currently going through my annual assessment of "do I still keep my Amex Platinum for a $900 fee, or do I switch to someone else?"

Well, I'm starting to get very over Qantas, and so potentially not all that bothered about being able to transfer to QF anymore, so thought, what's the best card to get Velocity points (and have options for other programs if I wish) without a $900 price tag. I stumbled across the Citi Select Card, and at face value it looks really good. Lower Fee, tick. A range of reward partners, tick, and 2 reward points per $, or 5 per $ overseas. Wow this seem great. So that transfers into $5000 a month spend = 10,000 rewards = 10,000 Velocity points right??

I've looked at a couple of other threads on this board which indicate that the rate is actually 1.5 Citi Rewards to 1 velocity point, but I simply cannot access this info on the Citi website. If it is the case, then I would just stick with Amex and I get 1.5 points per $ and a 1:1 transfer rate to velocity and Krisflyer.

Can anyone confirm (enlighten me) as to whether this is still correct?

Cheers
Ozvirginuk

 

[ermen]

Hi Everyone,

I'm currently going through my annual assessment of "do I still keep my Amex Platinum for a $900 fee, or do I switch to someone else?"


Can anyone confirm (enlighten me) as to whether this is still correct?

Cheers
Ozvirginuk

Hi, is as follows:

Singapore Airlines KrisFlyer
Citibank cardholders can transfer points to Singapore Airlines KrisFlyer program at:
1.5 Citibank reward points = 1 KrisFlyer Mile, and redemptions must be in multiples of 15,000 Citibank reward points.

Velocity Rewards
Citibank Cardholders can transfer points to Velocity Rewards at:
1.5 Citibank reward points = 1 Velocity Point, and redemptions must be in multiples of 15,000 Citibank reward points.

Asia Miles:
Citibank Select Cardholders can transfer points to Asia Miles at:
2 Citibank reward points = 1 Mile, and redemptions must be in multiples of 5,000 Citibank reward points.


If u r a CitiGold (A$100k+ parked with them) customer, I believe you can get the Citi Select Card for $350

 

[Ozvirginuk]

Hi, is as follows:

Singapore Airlines KrisFlyer
Citibank cardholders can transfer points to Singapore Airlines KrisFlyer program at:
1.5 Citibank reward points = 1 KrisFlyer Mile, and redemptions must be in multiples of 15,000 Citibank reward points.

Velocity Rewards
Citibank Cardholders can transfer points to Velocity Rewards at:
1.5 Citibank reward points = 1 Velocity Point, and redemptions must be in multiples of 15,000 Citibank reward points.

Asia Miles:
Citibank Select Cardholders can transfer points to Asia Miles at:
2 Citibank reward points = 1 Mile, and redemptions must be in multiples of 5,000 Citibank reward points.


If u r a CitiGold (A$100k+ parked with them) customer, I believe you can get the Citi Select Card for $350

Thanks Ermen.

That's really useful. On that basis, the base transfer rate works out at $1 = 1.33 velocity points. On Amex Platinum it works out $1 = 1.5 points, so I think I'll stick with them for another year, although maybe I can get them to do a fee reduction.
Cheers
Oz

 

[ermen]

Thanks Ermen.

I'll stick with them for another year, although maybe I can get them to do a fee reduction.
Cheers
Oz

I called up and got the fee reduced to $450. They were rather reluctant and said I could only do it this once. The standard discount is to $600 I think.

 

[Citibank Australia]

Hi everyone, and thanks for your post Ozvirginuk, it’s Citibank Australia here. We saw your post on this thread and thought we could add some information to help answer your questions around the Citi Select Credit Card.

Some of the features of the Citibank Select Credit Card include:

• Intro offer of 50,000 bonus Citibank reward points when new cardholders spend on the card
• Earn 2 points per $1 spent with Citibank Rewards or 1 QFF point with Qantas Rewards, plus the benefits of unlimited points with no expiry
• Earn 5 points per $1 spent with Citibank Rewards on eligible international purchases including online shopping on international websites
• Unlimited airport lounge access for you and a guest with Priority Pass™ membership
• A complimentary bottle of wine when you dine at participating restaurants with the Citibank Dining Program and use your card to pay
• One complimentary hotel stay per year from a selection of over 50 premium hotels worldwide, booked through Citibank Travel Program
• Unlimited complimentary airport transfers, when you book your international business or first class flights through the Citibank Travel Program

For further info, visit citibank.com.au/citiselect

Thanks, Citibank Australia

 

[trippin_the_rift]

Hi everyone, and thanks for your post Ozvirginuk, it’s Citibank Australia here. We saw your post on this thread and thought we could add some information to help answer your questions around the Citi Select Credit Card.

Some of the features of the Citibank Select Credit Card include:

• Intro offer of 50,000 bonus Citibank reward points when new cardholders spend on the card

Thanks, Citibank Australia

Hi Citibank!

Wat what point do you plan to introduce a loyalty scheme for cardholders who have a proven track record of spend? We all know that you gamble on new customers keeping the card for years - but what about those who have done that? What incentive is there to stay with Citibank, or at least not to re-churn back to a new card specifically to get signup bonuses?

 

[Kimster]

Hi everyone, and thanks for your post Ozvirginuk, it’s Citibank Australia here. We saw your post on this thread and thought we could add some information to help answer your questions around the Citi Select Credit Card.

Some of the features of the Citibank Select Credit Card include:

• Intro offer of 50,000 bonus Citibank reward points when new cardholders spend on the card
• Earn 2 points per $1 spent with Citibank Rewards or 1 QFF point with Qantas Rewards, plus the benefits of unlimited points with no expiry
• Earn 5 points per $1 spent with Citibank Rewards on eligible international purchases including online shopping on international websites
• Unlimited airport lounge access for you and a guest with Priority Pass™ membership
• A complimentary bottle of wine when you dine at participating restaurants with the Citibank Dining Program and use your card to pay
• One complimentary hotel stay per year from a selection of over 50 premium hotels worldwide, booked through Citibank Travel Program
• Unlimited complimentary airport transfers, when you book your international business or first class flights through the Citibank Travel Program

For further info, visit citibank.com.au/citiselect

Thanks, Citibank Australia

So much so for using forums to promote your card uptake - It will be great if the range of benefits promised are actualy delivered. I have a Select card and have made at least 8-10 calls to your customer centre to avail the bonus points and priority pass membership. All I have got so far is promises of getting back and nothing has happened so far. Now that I am just back from holidays without having had access to lounges and/or bonus points - I am thinking of letting the card go. I already withdrew my 100K+ when the promised calls from customer centre did not eventuate.

 

[R36snowbound]

I hold both a Citibank select visa signature card and an Amex card.

I also am the only person I know who paid the full $700 citibank fee and received no bonus points for signing up for the select card. I had the platinum citibank card and was offered the upgrade...what a goose am I!

To date, I am extremely dissastisfied with Citibank service and general call centre / concierge operation.

My average spend is in excess of $15,000 per month and when I call Citibank to complain, I get zero customer satisfaction and not treated as aholder of a premium product.

My advice; Amex can be a pain in the bum to use at times but their concierge service and general customer service is far superior than Citibank.

As I told the Citibank employee on the telephone, when you are charging $700 p.a for a credit card, you need to provide a service that competes with other high priced credit cards...... They have a lot to learn.

I have also heard a rumour that in March, the points conversion rate from citibank to krisflyer will change......to the card holders disadvantage of course. On the telephone, citibank told me yes its being discussed but no decision has been made.

Perhaps citibank can update this forum on this?

If the conversion rate does change, I for one will be calling and canceling my card.

 

[cove]

We have both Select cards and they work well after a rocky start. The QF card produces 1 true point per dollar spend and the SQ version produces 1.333 true points to Kris Flyer per dollar spend.
You can work to get a fair credit limit and the BPay gets into your account very quickly.
For us it works sweetly as it is a Visa so you can pay nearly every account on this card.

 

[burmans]

Some of the features of the Citibank Select Credit Card include:

• Intro offer of 50,000 bonus Citibank reward points when new cardholders spend on the card

Thanks, Citibank Australia

Sorry Citibank Australia, but 50K not enough to tempt me across to Signature/Select, try harder. 80K might just work!!

 

[cove]

I am pleased Citibank is watching as they can improve our experience with our cards.

 

[thehound]

Cove, I think that some replying from CitiBank rather than just watching would be even better. But we're all very used to not getting any straight answers from their customer service...

If I was the public relations rep for a company reviewing the comments on these posts, I'd go to management and say "you know what guys, we're getting mauled out there in the court of public opinion from our customers, and we need to do better." One can only hope.

 

[cove]

I guess our family is a success story with Citi Select seeing both cards have two commas on the redeemed points section.
i have even tested the high points earning rate on a couple of US Dollar retail purchases and yes I did get 3.33 points per dollar to Kris and the net cost for getting those points was about 1% due to the currency conversion being a tad over 3%.
It is all good for us in Select land and the annual fee is not something we would negotiate.

 

[cove]

When I have referred friends to Citi Select I am careful to tell them to treat it as a challenge. Prepare them for the worst to get them to the best is pretty much how I describe it.
The results are the best in town once you get thru the obstacle course which involves applying and getting accepted. The 1.333 true points per dollar on a Visa to Kris Flyer is worth the struggle.
Visa is so widely accepted it is very easy to use.
On Kris Flyer you can have 5 plus yourself for points redemptions and that means anyone can be nominated into those 5 spots.

 

[exp1k]

With the Citibank card you get more points than with Amex for international purchases.

I always thought Citibank charges higher conversion fees than Amex, so I did a direct comparison.
I bought the same item twice, 5 minutes apart, in US Dollars. One I paid with my Citibank credit card and the other one with my Amex charge card.
The Australian Dollar amount I was charged on my Amex was 3% more than what Citibank charged!!!

This is unacceptable and I think I will from now on make most of my international purchases with the Citibank card.
More points for less fees.

 

[Ozvirginuk]

With the Citibank card you get more points than with Amex for international purchases.

I always thought Citibank charges higher conversion fees than Amex, so I did a direct comparison.
I bought the same item twice, 5 minutes apart, in US Dollars. One I paid with my Citibank credit card and the other one with my Amex charge card.
The Australian Dollar amount I was charged on my Amex was 3% more than what Citibank charged!!!

This is unacceptable and I think I will from now on make most of my international purchases with the Citibank card.
More points for less fees.

This is extremely interesting. I think the whole currency conversion thing is a total scam at best. Especially when there are cards our there that don't charge anything. I recently purchased an air ticket on my Amex Charge card and the fees were over $400.... Luckily I saved thousands by doing it in NZD, but still not happy. I think I'm going to consider using my Citi Visa when I head overseas this year. Anyone else experienced similar stories?

 

[cove]

Yes Citi was cheaper for me too. My pain threshold to earn a frequent flyer point is currently 1 cent/ 1% per real point earned.
In America I have an American issued Gold American Express Premier Rewards card plus the Australian issued 28 Degees card both of which are winners.
For England I just use the 28 Degees card as I haven't stayed there long enough to work a points earning card.
If you feel that you are being robbed just use the 28 Degrees card!

 

[ermen]

I have the Citibank Select card and pay $350 p.a. for it (apparently because I am a CitiGold client as well) and the sole reason I have it is because it has somewhat superior points earnings (especially without the cap) - so any movement in the Kris Flyer conversion rate will obviously cause me (and others) to reassess...

IMHO, the $700 p.a. for the Citi Select card is not worth the benefits - especially when compared to the AMEX Plat Charge (which can usually be had for $600 p.a. easily)... however given my high spend, the no points cap and 1.333 KF points per $ spend makes maybe $350 p.a. tolerable...

My experience with Citibank is below average. They have a good frontend with their flashy branches (Hunter / Pitt St Syd), but the back end is really bad - nothing seems to talk to nothing... and even trying to do an FX conversion took like 15mins+. And what irks me is that everytime I want to do something, it usualy has to go through my RM which I feel is so inefficient

That said, once you are sorted, and if most of your day to day trades are "plain vanilla", they are OK to deal with. Like as cove said, once you are setup, everything is relatively smooth and the card has a good points earnings system to quelle your pain!

 

[thehound]

Citi charge 3.3% forex fees for overseas use of their Visa cards, whilst Amex charge 3%. If people are getting cheaper final amounts on their Citi Visas, the Amex exchange rate must be worse than the Visa rate.

I for one am just finishing an overseas trip and have put almost $20k through my Amex, not my CitiBusiness Gold. I guess that's the price I'm willing to pay for Kris points and interest free credit.

 

[cove]

In my case I prefer to hang on to the $600 to $700 real money or alternatively use Citi Select for 3.33 real points times the $20,000 spend so that would produce about 66,666 Kris Flyer miles.
The free credit days is an interesting concept!