Citibank Rewards Card – MoneySmart Review 2020

Citi Rewards Card Review

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). 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 First 2 supp cards free for 1 year, subsequently $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 3.0%
Cash advance transaction fee 6% or $15, whichever is higher
Overlimit fee $40
Minimum income $30,000 (Singaporean) / $42,000 (non-Singaporean)
Card association Mastercard (from 30 Mar 2020, previously Visa)
Wireless payment Mastercard PayPass, Samsung Pay, Citi Pay

 

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). 

While it used to be a card aimed at fashion categories, since April 2019, they offer 10X rewards points on all online purchases (excluding travel-related purchases).

You also enjoy discounts of up to 20% with some popular shops like Love and Bravery, and Prego.

Note that there’s a cap of 10,000 points per statement month

Citibank logo
on Online Spend*
S$1= 10X Points
on Shopping Spend
S$1= 10X Points
on All Other Spend
S$1 = 1 Point
Promotion: Get S$200 Cash via PayNow when you apply and spend! Applicable to new-to-bank cardholders only. Valid till 14 Jul 2020.

 

What can you redeem from the Citibank rewards catalogue?

Your points expire in 5 years, after which you can redeem them for rewards from the Citibank rewards catalogue.

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 foodrepublic voucher 2,,120 points $212
$10 Courts voucher 3,190 points $319
Eurospace Induction Cooker  18,130 points $1,813
$50 Harvey Norman voucher 15,940 points $1,594
Bose Bluetooth Sports Headphones 82,400 points $8,240

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

 

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.

OCBC logo
on Online, Offline, Local and Overseas spend
S$1 = 10 OCBC$
with 18,000 OCBC$
S$50 Titanium cash
Rewards to Miles Conversion
10 OCBC$ = 4 Miles

UOB Preferred Platinum Visa Card – Much less snazzy looking than the Citi Rewards card, but a good card nonetheless. It gives you 10X rewards (equivalent to 4 miles) when you spend online and when you make contactless payment using payWave or your mobile phone.

UOB logo
MoneySmart Exclusive
on Online Shopping, Entertainment & Contactless Payments
S$5 = 10X UNI$
on All Other Spend
S$5 = 1X UNI$
Rewards to Miles Conversion
1 UNI$ = 2 Miles
MoneySmart Exclusive: Get up to S$60 Grab Vouchers! Valid till 31 Jul 2020.

HSBC Revolution Credit Card Get 5x rewards (equivalent to 2 air miles) every $1 spent on online transactions, local dining and entertainment. This includes not just shopping but air tickets, movie tickets, insurance premiums, etc. This card is nowhere near as generous as Citi Rewards, but there’s no cap and no minimum spend at all.

HSBC logo
on Online, Dining and Entertainment
S$1= 5X Points
on All Other Spend
S$1= 1X Point
Rewards to Miles Conversion for Selected Airline Partners
1 Point = 0.4 Miles

Still keen on the Citibank Rewards Card? If this is your first Citibank card, you can get $200 NTUC FairPrice or CapitaLand vouchers just for signing up through MoneySmart.

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

 

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