Citi launching new Signature card

[Foreigner]

From my calculations it's $1 = 1.33 KF points

$1 AUD = 2 CitiRewards (CR)
1.5 CR = 1 KF

so
$0.5 AUD = 1 CR = 0.667 KF
so
$1 AUD = 2 CR = 1.33

Your arithmetic is correct.

This is what SQ / Westpac card reward is:

• Singapore Airlines Westpac Platinum American Express ® Card earn
  - 1.5 KrisFlyer miles per $1 spent on purchases with merchants located within or outside Australia1
• Singapore Airlines Westpac Platinum Visa ® Card earn 1
  - 1.5 KrisFlyer miles for every $1 spent on purchases with merchants located outside of Australia1
  - 1 KrisFlyer miles for every $1 spent on purchases with merchants located within Australia1

Westpac looks better with Amex but not as good as Citibank's card with Visa used domestically. That's how I read it.

Westpac's this co-branded card links all points to SQ alone. Cost is $125 in year 1, thereafter $250. But some, including myself, have been able to negotiate fee to be zero'd in second year.

 

[ZeroPoint]

Westpac looks better with Amex but not as good as Citibank's card with Visa used domestically. That's how I read it.

Westpac's this co-branded card links all points to SQ alone.

And because it's a Visa, the surcharge is usually less (or waived) compared to the Amex. It goes towards CitiRewards, which doesn't have an expiry date, so you can just transfer the points over when you need to. I think it's quite a good card overall, the only downer is the annual fee.

Has anyone gotten anywhere with getting it waived/reduced?

 

[trippin_the_rift]

If customers see value, they may consider signing up on the card. One plus is that of Priority Pass, with cardholder and one guest fee-free. With Priority Pass attached to Amex platinum chargecard, only cardholder gets privilege but guests pay (@ about USD32 each, if I recall).

Westpac / SQ had up to 20000 points, 50% off fee for first year, both AMEX and Visa cards so that made is attractive for me.

Myself and a friend used the Virgin Blue lounge today with the free PP from Amex. No issue getting 2 people in.... neither of us were flying Virgin!

 

[oz_mark]

Myself and a friend used the Virgin Blue lounge today with the free PP from Amex. No issue getting 2 people in.... neither of us were flying Virgin!

SHoudln't be an issue getting in, though if there were two of you, you may find a charge for the second person on your Amex card!

 

[Foreigner]

Myself and a friend used the Virgin Blue lounge today with the free PP from Amex. No issue getting 2 people in.... neither of us were flying Virgin!

Did they get you to sign a chit? If so, just check your next Amex statement. Or, log in to the PP online account and you may see a charge noted for the second pax. I was surprised to see a charge, two occasions when I was accompanied into the Virgin lounge.

On another occasion in the Sydney lounge, the front desk agent wasn't bothered to issue a chit. So no record of my visit.

And yes, you needn't be flying with Virgin (or flying at all) when using PP with Virgin.

 

[ZeroPoint]

I tried applying online today, and guess what, it doesn't work!

I fill in my details (twice using chrome and IE) and hit submit and just takes me to a blank page.

Well done Citi

 

[mitchy123]

Its funny how citi seem to try to come up with new ideas, without actually getting core existing products and services right......

 

[crowman28]

And because it's a Visa, the surcharge is usually less (or waived) compared to the Amex. It goes towards CitiRewards, which doesn't have an expiry date, so you can just transfer the points over when you need to. I think it's quite a good card overall, the only downer is the annual fee.

Has anyone gotten anywhere with getting it waived/reduced?

I thought the points are transferred to your nominated frequent flyer programme each month, and hence if you are with SQ, your points will still expire in 3 years time.

 

[ZeroPoint]

I thought the points are transferred to your nominated frequent flyer programme each month, and hence if you are with SQ, your points will still expire in 3 years time.

Nope, you choose when you want to transfer over the points if you stick with CitiRewards. If you don't transfer it stays as CitiReward points.

The direct transfer is only if you opt for Qantas rewards.

 

[an*g-bne]

Was asked to upgrade from Plat to Select last week, for a reduced fee of $350. It's possible that the fee reduction is only available to Citigold customers though - I didn't think to ask. Haven't accepted the offer yet - actually came on here to find out what the general views of others were, and from reading the posts before, I'm inclined not to upgrade

 

[cove]

Following up on the Citibank advertisement in the Financial Review magazine I applied tonight for a $700 a year Citi Select Visa card for the Mrs with me being the secondary card holder.
After reading up on the web site I believe we will get QF points at the rate of one per dollar on VISA which is as good as Kris Visa for SQ points.
If you visit citibank.com.au/afr or call 1300 129 560 they can discuss the 999 rules and regulations that apply and include a proof of $120,000 income to qualify.
Currently no points capping so the application went email and fax as that seems to be a
real winner for big users.

 

[trippin_the_rift]

So biggest 'benefit' is unlimited points at 1:1 ?

How much spend do you think one needs to push through to make it worthwhile? Keeping in mind everyone has an amex so you obviously wouldnt put 100% of transactions through the citi select...

 

[Stephen65]

My thinking too. At least 80% of my spend is on Amex at 1.5:1 and the rest I put through my Citi Platinum visa card at 1:1.

If this card was 1.5:1 for visa spend it might dethrone the Amex but at the moment Amex plus the much cheaper Platinum card have me covered.

 

[cove]

I have been looking for the absolute cheapest way to get about 6 or 8 million points by paying all of the BAS and other taxes so our group can swan around the world in style. Eight million points will cost $52,000 on Visa less a tax credit for a net $27,000 or thereabouts.
If my math skills are intact it takes 360,000 to go Perth to the US in J to the east and F to the west coast of the US so that is about $1,500 including taxes for a $20,000 retail fare.
It is just a game to put smiles on faces every time a tax bill comes our way each month.
I still use Amex Ultimate or KRIS flyer Amex at a higher cost of 0.83 versus 0.65cents per point if the points jar is emptying faster than it is being refilled.

 

[trippin_the_rift]

ATO payments are limited to $50k per transaction.

6-8m is a lot of payments - make sure you outsource it to the PA ;-)

 

[cove]

$250,000 per phone call now in 5 lots of $50,000.
Yes we have learnt to share at our office.
With staff we ensure they go to a business destination to avoid Fringe Benefits Tax getting triggered.Fortunately we trade globally so that is quite OK.

 

[Foreigner]

In the fine print:

18. Actual credit limit will be assigned based on Citi's credit criteria subject to confirmation that you earn a minimum of $120,000 p.a. and subject to your credit rating. Credit limit is up to $30,000 at point of initiation. Over time, credit limit may increase up to $100,000, if you satisfy Citi's credit criteria.

 

[cove]

As long as the Citi card can be put into a big credit balance by 21st of each month you don't really need a large credit card limit to pay a BAS tax bill that you had to pay anyway.
If that bill is $250,000 and your credit limit is $30,000 you just park the funds in your card then do the telephone call.
I am still waiting on that card answer from last week.

 

[cove]

Dont you just love the fine print!
If it is too little to read in its original print you really do need to hit the 200% key.
Banks and trust are not used in one sentence now.

 

[Foreigner]

Dont you just love the fine print!
If it is too little to read in its original print you really do need to hit the 200% key.
Banks and trust are not used in one sentence now.

I am amazed with the vagueness:

"Over time, credit limit may increase..."