Citibank Rewards Card – MoneySmart Review 2020

The Citibank Rewards Card is one of the more attractive credit cards in Singapore for shopaholics, offering 10X rewards points (or $1 = 4 miles) when you shop online (excluding travel-related transactions). You can use it for certain offline purchases as well.

If you’re a serious digital native who regularly takes Grab, orders food from online delivery services, shop online, this arrangement should sound heavenly to you because the points you get from online shopping can be converted into frequent flyer miles or… even MORE shopping vouchers!

Let’s see how attractive this card really is:

 

Citibank Rewards Card terms & conditions

Citi Rewards Card
Annual fee & waiver	$192.60 (waived for 1 year)
Supplementary annual fee	$96.30
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	3.25%
Cash advance transaction fee	6% or $15, whichever is higher
Overlimit fee	$40
Minimum income	$30,000 (Singaporean/PR) / $42,000 (non-Singaporean)
Card association	Mastercard
Wireless payment	MasterCard PayPass, Samsung Pay, Citi Pay

Receive 30,000 Citi ThankYou Points when you spend $3,000 in the first 3 months. How’s that for a welcome gift?

How the Citi Rewards Card works

The card’s main strength is its generous miles conversion rate. You get 10X rewards points, the equivalent of $1 = 4 miles, for all online spend (excluding travel-related purchases) and shopping spend at selected departmental, retail and online stores. Also, note that $1 spent = 1 Rewards point (all other spend). No minimum spend required, no cap.

The 10X Rewards are capped at 10,000 points per statement month.

 

What can you redeem from the Citibank rewards catalogue?

Your points expire in about 5 years, but don’t forget to redeem them for rewards from the Citibank rewards catalogue. Log in to your account to find out how many points you’ve earned and when they are expiring. 

Here are some highlights from the Citibank rewards catalogue, and how much you’d have to spend in the bonus shopping categories to get them:

Reward	Points needed to redeem	Amount spent on 10X categories
$7 Food Republic voucher	2,120 points	$212
$10 Courts voucher	3,190 points	$319
Philips kettle (HD4646)	14,370 points	$1,437
$50 Harvey Norman voucher	15,940 points	$1,594
Polar M430 watch	76,220 points	$7,622

Citi’s rewards catalogue is actually one of the best in Singapore, as it has loads of items such as watches, toys, jewellery and food in addition to the usual miles and vouchers.

Citibank Rewards Card promotions

Zalora

• 26% off storewide with no min. spend for all Citi Cards, including sale items (discount capped at $40). Promo Code: CITINEW2020. For new to ZALORA Citi Cardmembers and valid till 31 December 2020.

• 15% off storewide with a min. spend of $100 for all Citi Cards, including sale items. Promo Code: CITI2020. For existing ZALORA Citi Cardmembers and valid till 31 December 2020.

Deliveroo

• $4 off first 3 orders with min. spend of $25. Promo code: CITINEW. For new customers and valid till 31 December 2020.

Alternatives to Citibank Rewards Card

The Citi Rewards Credit Card is a strong card, but it’s not the best. When it comes to shopping, it’s important to first figure out where you are going to be shopping most and then match the right card to maximise the benefits you get from the points multiplier.

Let’s have a look at how the Citi Rewards Card compares to similar cards for shoppers:

OCBC Titanium Card – Very similar to the Citibank Rewards Card in that it gives you 10X rewards points (4 miles) per dollar spent on the same merchant categories, plus electronics and kids’ wear. It also includes giants like Taobao, Amazon and Best Denki, where it’s super easy to make huge purchases that rack up points. Similarly capped at 120,000 points for a one year period so you needn’t worry about bursting a monthly cap.

UOB Preferred Platinum Visa Card – Much less snazzy looking than the Citi Rewards card, but a good card nonetheless. It gives you UNI$10 per $5 when you make selected online transactions and contactless transactions.

HSBC Revolution Credit Card – Get 10x Reward points when you shop online, order food delivery or make travel bookings, and make payments via Visa payWave and Apply Pay. There’s no annual fee, no cap and no minimum spend at all.

What is your favourite credit card to use for online shopping? Share your recommendations in the comments!