The Citibank Prestige Credit Card is one of a number of Citibank cards reviewed and is available in Singapore
About the Card
The Citibank Prestige Credit Card is issued by Citibank in Singapore. The card is for higher income earners and is best used in conjunction with Citigold relationships. The credit card earns you Citi Dollars which can be converted into Citi miles and those into a number of different airlines partners including Singapore Airlines KrisFlyer and Malaysia Airlines Enrich.
There is a good sign-up bonus for the card of 25,000 Miles or a Leica camera or iPad Air 2. The Miles sign-up bonus is one of the highest in Singapore.
There are lots of ancillary benefits that come with the Citibank Prestige credit card, but these are the headlines:
- Unlimited Priority Pass Membership
- Limousine Transfer (after $S500 spend on air tickets or hotels)
- Various Hotel discounts and benefits
- Rebates at selected merchants including Four Seasons and Ritz-Carlton
- Personal Protection benefits including travel insurance
What is the Annual Fee?
The annual fee for this card is very high at $S535 and you have to pay if you want to be entitled to the welcome gift (25,000 Miles).
Bonus for Renewal?
Upon renewal of annual membership you will receive 25,000 Citi Miles, at a cost of S$535 (or 2.1 cents per Mile)
What Do You Earn per $1?
You earn in Citi Dollars and these convert into miles which can then be converted into your airline program miles on a 1-1 basis.
- 5 Citi Dollars = 2 Citi Miles = 2 airline miles for every $1 spent overseas
- 3.5 Citi Dollars = 1.4 Citi Miles = 1.4 airline miles for every $1 spent locally
What you earn over a year can then be multiplied by a percentage depending on the relationship that you have with Citibank. Those with a Citigold relationship can receive a 15% straight away on the Citi Dollars they earn (which again can be converted into Citi Miles)
What is a Point Worth?
Citibank has a number of different airline programs of which are partners:
- Asia Miles
- Royal Orchid Plus
- Executive Club
- Infinity MileageLands
- Garuda Frequent Flyer
- Etihad Guest
There are also a number of other hotel and experience partners. Note that a $S25 charge is levied for each transfer from Citi Miles to your preferred program, and you’ll need at least to transfer a minimum of 500 Miles.
How Does this Compare?
The earning rate for this card is good, but not exceptional. Note I don’t have this card myself so I can’t say how transactions track etc, if you have experience with it please leave a comment to help others!
- Sign up bonus – 8/10
- On-going Spend – 6/10
I’ve given a high score for the sign-up bonus as it’s the third highest in the Singapore market (Singapore Airlines Ascend American Express Credit Card is higher as well as the Platinum Reserve Amex), and in addition to that the unlimited Priority Pass membership as well as the ancillary perks means that you are getting a lot for signing up. However there are two major drawbacks; the high earning requirement (S$120,00) and the high fee S$535 – but there is no minimum spend requirement, so you are effectively buying the miles and priority pass membership.
The on-going earning is good for both local and overseas spend but it isn’t the best. But the bonus for renewing your membership at 25,000 miles is the best available (in terms of quantity) and again you are effectively buying those miles at 2.1 cents per mile which is cheap.
If you are looking similar earning rates, lower fees and unlimited lounge access then I would go for the ANZ Travel Visa Signature card.
If you would like to know more on the card, it is on the Citibank website here
What do you think of this card? Too Expensive?