FINALLY! - Citi launching Citi Prestige with Visa Infinite

after application, i need to send through information such as payslip etc, which then got approved in a few days.

Actually, they were chasing me for proof of "other income", but then they approved it before i manage to send it to them, weird.
 
what's the magic statement to get a fee waiver?

best i could do after 25 mins on the phone just now including 2 transfers higher up the line ended up with an offer of $350 (i.e. 1/2 the fee) and 15K points. last year i got $350 fee + 20K points. Fairly disappointed that I got the generic Manila service team rather than someone in Australia.

my WBC alt black is also up at the moment, and i'm seriously contemplating ditching one or the other if i can't get a fee waiver.
 
My Prestige renewal is coming up. Last year I got half price. Don't recall a points offer. It's a keeper for me so happy to get some sort of concession. I also have altitude black and haven't had any trouble getting fee waivers even though don't use it anymore.
 
Hey guys,

Looking to upgrade to a Prestige from my free-for-life Signature. Trying to justify the $700 fee, seems unlikely Citi will do me any favours with respect to that. Not overly interested in the various value-added benefits, however the increased points earn rate IS quite interesting. Keen to get a view on the numbers I've ran:

- I currently put through approx $160k/year in international spent - at 4x points which is great.
- On Prestige, earn rate is 5x on the $, so that would equate to an additional 160,000 points per year. Which is effectively approx 107k VA or KF points.
- So effectively $700 to buy those 107k points - @ approx $0.0065 per point.

Seems to me like it's worthwhile - any views?

EDIT: Also seems like 160k citi points are worth almost $900 in gift cards.. might have answered my own q.. :)

P
 
Last edited:
petejay said:
Hey guys,

Looking to upgrade to a Prestige from my free-for-life Signature. Trying to justify the $700 fee, seems unlikely Citi will do me any favours with respect to that. Not overly interested in the various value-added benefits, however the increased points earn rate IS quite interesting. Keen to get a view on the numbers I've ran:

- I currently put through approx $160k/year in international spent - at 4x points which is great.
- On Prestige, earn rate is 5x on the $, so that would equate to an additional 160,000 points per year. Which is effectively approx 107k VA or KF points.
- So effectively $700 to buy those 107k points - @ approx $0.0065 per point.

Seems to me like it's worthwhile - any views?

EDIT: Also seems like 160k citi points are worth almost $900 in gift cards.. might have answered my own q.. :)

P
Click to expand...

You did.

Also, don't forget the earn rate from domestic spend is slightly higher too.
 
petejay said:
Hey guys,

Looking to upgrade to a Prestige from my free-for-life Signature. Trying to justify the $700 fee, seems unlikely Citi will do me any favours with respect to that. Not overly interested in the various value-added benefits, however the increased points earn rate IS quite interesting. Keen to get a view on the numbers I've ran:

- I currently put through approx $160k/year in international spent - at 4x points which is great.
- On Prestige, earn rate is 5x on the $, so that would equate to an additional 160,000 points per year. Which is effectively approx 107k VA or KF points.
- So effectively $700 to buy those 107k points - @ approx $0.0065 per point.

Seems to me like it's worthwhile - any views?

EDIT: Also seems like 160k citi points are worth almost $900 in gift cards.. might have answered my own q.. :)

P
Click to expand...

don't forget about the 3% odd overseas transaction charge on this card, it'd be fee free for say a bankwest platinum master. that's $5k saving right there
 
if you put through ~160K/year you might also be in the running for a reduced fee to $350... there's been a few described incidents of this.

petejay said:
Hey guys,

Looking to upgrade to a Prestige from my free-for-life Signature. Trying to justify the $700 fee, seems unlikely Citi will do me any favours with respect to that. Not overly interested in the various value-added benefits, however the increased points earn rate IS quite interesting. Keen to get a view on the numbers I've ran:

- I currently put through approx $160k/year in international spent - at 4x points which is great.
- On Prestige, earn rate is 5x on the $, so that would equate to an additional 160,000 points per year. Which is effectively approx 107k VA or KF points.
- So effectively $700 to buy those 107k points - @ approx $0.0065 per point.

Seems to me like it's worthwhile - any views?

EDIT: Also seems like 160k citi points are worth almost $900 in gift cards.. might have answered my own q.. :)

P
Click to expand...
 
villemus said:
don't forget about the 3% odd overseas transaction charge on this card, it'd be fee free for say a bankwest platinum master. that's $5k saving right there
Click to expand...
$5,440 for 533,333 SQ/VA points or $0 for 160,000 QF points...I'd still take the SQ miles!
 
Kimster said:
Had a quick look CE on Bankwest website. Indeed it says no foreign/international exc fee. Good find Beta4me
Click to expand...

But what is the actual exchange rate used (compared with, say, citi debit visa)?

Is any arbitrage built in?
 

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