Credit Cards

Citi PremierMiles Visa Card – MoneySmart Review 2020

citi premiermiles

The Citi PremierMiles Visa Card has been in the spotlight for the longest time: It’s considered one of the most popular Citibank credit cards, and once upon a time, some even regarded it as the best miles credit card in Singapore.

Why? Citi PremierMiles Visa Card has one of the best sign-up bonuses in town. Earning miles on an air miles credit card takes a painfully long time, and one way to work around that is to get a credit card with a big sign-up bonus so you can get a sizeable bump in your miles.

You can still get 40,000 Citi Miles when you apply, pay the annual fee and spend a minimum of $9,000 for the first 3 months.

Is the Citi PremierMiles still worth getting? Let’s find out.

 

Citi PremierMiles Visa Card essential information

Citi PremierMiles Visa Card
Annual fee & waiver $192.60
Supplementary annual fee Complimentary
Interest free period 25 days
Annual interest rate 26.90%
Late payment fee $100
Minimum monthly repayment 1% or $50, whichever is higher
Foreign currency transaction fee 3.00%
Cash advance transaction fee 6% or $15, whichever is higher
Overlimit fee $40
Minimum income $30,000 (Singaporean) / $42,000 (non-Singaporean)
Card association Visa
Wireless payment Visa payWave, Samsung Pay, Citi Pay

 

How the Citi PremierMiles Visa Card works

Last year, the Citi PremierMiles was a top pick for air miles because of its huge welcome bonus of 42,000 miles with $10,000 spend. For those with big expenses like home renovations or family vacations coming up, it made total sense to get this credit card. Sadly, this offer expired as of 28 Feb 2018 and has been replaced by other slightly lousier – but still quite attractive – welcome promotions.

Get S$300 Cash via PayNow
Citibank logo
Local Spend
S$1 = Up to 1.2 Miles
All Foreign Currency Spend including Retail and Online
S$1 = 2 Miles
Selected Online Hotel and Flight bookings
S$1 = Up to 10 Miles
MoneySmart Exclusive: Valid till 2020-02-29.
Get S$300 Cash via PayNow! Applies to new to bank customers..
  • Get 37,300 Citi Miles when you apply, pay annual fee and spend min. S$9,000 for the first 3 months

For 1 October 2019, If you spend at least $9,000 within your first 3 months of card approval, you will get a total of 40,000 miles (valid until 31 Jan 2020).

The caveat? It’s for new Citibank customers only, and you need to pay for your first year’s annual fee ($192.60) to qualify.

Those who are already banking with Citibank, you’ll get 23,000 Citi Miles if you can still hit $7,500 within 3 months. Not too bad. That’s 10,000 welcome Citi Miles, $9,000 for spending $7,500 locally, and 4,000 bonus Citi Miles (assuming local spend, valid until 31 Sep 2019). You’ll also receive Kaligo e-voucher worth $100.

Welcome promotions aside, the Citi PremierMiles Visa Card standard miles accrual rate is $1 = 1.2 Citi Miles (local spend) and $1 = 2 Citi Miles (foreign currency spend).

Citi Miles never expire, so you can slowly earn your air tickets. Citi Miles are 1:1 with 12 airlines & frequent flyer programmes (including KrisFlyer, Asia Miles and more), but do note that there is a $25 conversion fee each time you want to convert them to airline miles.

 

Who should use the Citi PremierMiles Visa Card?

With the new update in September 2019, The Citi PremierMiles Visa Card is fantastic for big spenders.

The local spend earn rate is now $1 to 1.5 miles if you hit a minimum of $3,000 per statement month, but if not, it’s $1 to 1.2 miles.

Both the overseas and local earn rates lose to its biggest competitor the UOB PRVI Miles Card ($1 = 2.4 miles for foreign currency spend, and $1 = 1.4 miles for local spend, no minimum).

That said, you may get quite a bit of utility out of the Citi PremierMiles Card if you make most (if not all) your bookings via travel aggregators Agoda and Expedia

That’s thanks to the current travel promotions and bonus earn rates:

  • Hotel bookings on Agoda: 8% off and $1 = 7 miles until 31 Sep 2019
  • Hotel bookings on Expedia: 10% off until 31 Dec 2019

The Citi PremierMiles Card also comes with free Priority Pass membership (on application basis, 2x airport lounge visits per year) and complimentary travel accident insurance of up to $1,000,000 coverage.

 

Alternatives to the Citi PremierMiles Visa Card

I mentioned earlier that the Citi PremierMiles has poorer earn rates than its main competitor, the UOB PRVI Miles Card. Let’s compare it against similar credit cards on the market:

UOB PRVI Miles Card – Much better earn rates than the Citi PremierMiles, at $1 = 1.4 miles (local) and 2.4 miles (overseas), hence a better credit card for day-to-day use. It also has a competitive travel booking promotion with $1 = 10 miles (Agoda, Expedia, UOB Travel).

UOB logo
Local Spend
S$1 = 1.4 Miles
Overseas Spend
S$1 = 2.4 Miles
Selected Online Hotel and Flight bookings
S$1 = 10 Miles
  • Earn up to 3miles per S$1 spend on Klook bookings (Exclusive to UOB Prvi Miles Cards only)

American Express KrisFlyer Ascend – Poorer overall earn rates than the Citi PremierMiles Visa Card, but has bonus accrual for Grab rides ($1 = 3.2 miles). The welcome bonus is also less attractive: You only get 38,500 KrisFlyer miles for spending $10,000 within 3 months.

But, if you spend $1, use it on a Grab ride, approve 2 supplementary cards and successfully refer a friend, you can get up to 49,500 KrisFlyer miles until 30 Sep 2019.

Get up to 39,500 bonus KrisFlyer Miles
American Express logo
Local Spend
S$1 = 1.2 Miles
Overseas Spend
S$1 = 2 Miles
Grab rides
S$1 = 3.2 Miles
MoneySmart Exclusive: Valid till 2020-02-29.
Get up to 39,500 KrisFlyer miles when you apply via MoneySmart only. .

Maybank Horizon Visa Signature Card – With high bonus earn rates ($1 = 3.2 miles) on local dining, petrol and taxis, it’s hard to beat this one for getting miles on your daily expenses. There is a $300 minimum spend, which is reasonably low. Bonus earnings are capped at 30,000 TREATS points ($3,750 expenditure cap).

All in all, the Citi PremierMiles Visa Card has a decent welcome bonus, but that’s about it. Its main spend category for bonus miles is travel booking sites, but even for those, you’re better off with the UOB PRIVI Miles card’s more attractive earn rates.

If you want to earn miles while swiping for day-to-day stuff like meals and transport instead, then the Maybank Horizon Visa Signature is a much, much better choice.

Maybank logo
on Dining, Petrol, Taxi and Hotel Bookings at Agoda
S$1 = 8X Points
on Air Tickets, Travel Packages and Foreign Currency Spend
S$1 = 5X Points
Rewards to Miles Conversion for Selected Airline Partners
1 Point = 0.5 miles

 

Related articles

Best Citibank Credit Cards in Singapore – Credit Card Reviews 

The Best Air Miles Credit Cards in Singapore

Cashback vs Air Miles vs Rewards – Which credit card is best for you?

Tags: