In August 2023, the Citi Prestige Card launched a welcome offer of 71,000 miles to cardholders who paid the annual fee and spent S$1,000in local currency &S$1,000in foreign currency within two months of approval.
While this offer was extended a few times, it was eventually replaced in March 2024 by a smaller bonus of 50,000 mileswith S$2,000 spend (in any currency).This offer, originally available for applications by 31 May 2024,has now been extended till 30 September 2024.
Given the S$545 annual fee, you’re paying 1.09 cents per mile– a competitive price in and of itself, though obviously inferior to the previous promotion (0.76 cents per mile).
Citi Prestige 50,000 miles welcome offer
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| Apply here |
| T&Cs |
The latest Citi Prestige Card welcome offer is valid for applications submitted between 1 June to 30 September 2024, with approval received within 30 days of application.
New Citi Prestige Cardholders can earn up to 125,000 bonus ThankYou points (equivalent to 50,000 miles) by completing the following:
| TY Points | Miles | |
| Pay S$545 annual fee | 62,500 | 25,000 |
| Spend S$2,000 during qualifying period | 62,500 | 25,000 |
| 125,000 | 50,000 |
This offer is valid for anyone who has not cancelled a principal Citi Prestige Card in the past 12 months. In other words, you are eligible even if you currently hold another Citi card at the time of application.
Don’t forget that the bonus points are awarded on top of the regular base earn rate, so all in all you’ll receive at least 52,600 miles,broken down into:
- 25,000 bonus miles for paying the S$545 annual fee
- 25,000 bonus miles for meeting S$2,000 minimum spend
- 2,600 base miles for spending S$2,000 in local currency (if foreign currency, then 4,000 miles)
When must the qualifying spend be met?
The S$2,000 minimum qualifying spend must be made within the first two months from approval, defined as the period starting from approval date till the end of the second calendar month after that.
For example, if the card is approved on 15 June 2024, the qualifying period runs from 15 June 2024 to 31 August 2024.
In other words, you actually have 2-3 months to hit the minimum spend, and should apply as early in the month as possible to maximise your time
What counts as qualifying spend?
The S$2,000 qualifying spend can be met by any combination of local or overseas qualifying spend.
Qualifying spend refers to any online or offline retail transactions, excludingthe following:
| ❌ Qualifying Spend Exclusions |
| (i) any Equal Payment Plan (EPP) purchases, (ii) refunded/disputed/unauthorised/fraudulent retail purchases, (iii) Quick Cash and other instalment loans, (iv) Citi PayLite/Citi Flexibill/cash advance/quasi-cash transactions/balance transfers/annual card membership fees/interest/goods and services taxes, (v) bill payments made using the Eligible Card as a source of funds, (vi) late payment fees and (vii) any other form of service/ miscellaneous fees (vii) Citi PayAll transactions where the customer is not charged the Citi PayAll service fee |
For avoidance of doubt,Amaze transactions will count toward qualifying spend (with a handful of exceptions for transit).
Citi PayAll will also count towards qualifying spend, provided the 2.6% admin fee is paid. The following payments are currently supported:
| 💰 Citi PayAll: Supported Payments | |
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For a complete guide of how to use Citi PayAll, refer to my detailed guide below.
Citi PayAll Complete Guide: How to pay bills and earn miles
Citi PayAll is currently running an offer for income tax season, which offers 2 mpd on tax transactions and 1.6 mpd on non-tax transactions, subject to a minimum spend of S$5,000 on non-tax transactions and capped at S$150,000 across all Citi PayAll categories.
To illustrate how this works, suppose you spend S$5,000 on non-tax payments, and S$5,000 on tax payments during the promotion period:
- You will earn 18,000 miles (S$5,000 x 2 mpd + S$5,000 x 1.6 mpd)
- You will pay an admin fee of S$260 (S$10,000 x 2.6%)
- The cost per mile is therefore S$260/18,000 miles =1.44 cents
For more details on this promotion, refer to the post below.
Citi PayAll offer: 2 mpd on tax payments, 1.6 mpd on non-tax payments
When will the miles be credited?
Bonus points will be credited within three calendar months from the end of the qualifying spend period.
For example, if your card is approved in June 2024, your qualifying spend period ends 31 August 2024 and the points will be credited by 30 November 2024.
Terms and conditions
The T&Cs of the Citi Prestige welcome offer can be found here.
What can you do with ThankYou points?
ThankYou points earned on the Citi Prestige Card never expire, and can be transferred to a total of 11 different transfer partners at the ratios below.
| Partner | Transfer Ratio (ThankYou Points ➤ Miles) |
 | 25,000 ➤ 10,000 |
 | 25,000 ➤ 10,000 |
 | 25,000 ➤ 10,000 |
 | 25,000 ➤ 10,000 |
 | 25,000 ➤ 10,000 |
 | 25,000 ➤ 10,000 |
 | 25,000 ➤ 10,000 |
 | 25,000 ➤ 10,000 |
 | 25,000 ➤ 10,000 |
 | 25,000 ➤ 10,000 |
 | 25,000 ➤ 10,000 |
Transfers cost a flat S$27.25, regardless of the number of points converted.
Citibank does not pool points across cards, so if you have both a Citi Prestige and Citi Rewards, for example, you’ll need to pay two conversion fees.
Overview: Citi Prestige Card
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| Apply Here | |||
| Income Req. | S$120,000 p.a. | Points Validity | No expiry |
| Annual Fee | S$545 | Min. Transfer | 25,000 TY points (10,000 miles) |
| FCY Fee | 3.25% | Transfer Fee | S$27.25 |
| Local Earn | 1.3 mpd | Points Pool? | No |
| FCY Earn | 2 mpd | Lounge Access? | Yes |
| Special Earn | N/A | Airport Limo? | Yes |
| Cardholder Terms and Conditions | |||
The Citi Prestige Card earns 1.3 mpd on local transactions and 2 mpd on foreign currency transactions, which can be further buffed through a “relationship bonus” described below.
| 👫 Relationship Bonus | ||||||||
The Citi Prestige card features a “relationship bonus”which awards 5-30% more points depending on your tenure with Citibank, and whether you have Citigold status. Contrary to popular belief, a 5% bonus does not mean you earn 1.3 * 1.05 = 1.37 mpd. Instead, the relationship bonus percentage is applied to your overall dollar spend amount to derive bonus points. For example, if you spend S$10,000 in a year with a 5% bonus, you get 5% * 10,000= 500 bonus points, or a paltry 200 miles. The bump in mpd is a mere 0.02! Here’s how much you can earn on local/overseas spending with the relationship bonus:
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Cardholders enjoy perks like unlimited lounge access (+1 guest), and complimentary airport limo transfers with a minimum spend of S$12,000 per calendar quarter. They will also receive the 4th night free on any hotel booking made through the Citi Prestige concierge, so there’s definitely ways to recover your annual fee.
Other perks include 1-for-1 dining offers at high-end restaurants in Singapore, complimentary golf games, and complimentary travel insurance when using the card to pay for air tickets (or taxes and surcharges on award tickets).
| Accidental Death | S$1,000,000 |
| Medical Expenses | S$50,000 |
| Travel Inconvenience | Flight Delay: S$400 Baggage Delay: S$400 Lost Baggage: S$1,000 |
| Policy Wording | |
For a review of the Citi Prestige Card, be sure to check out the post below.
Review: Citi Prestige Card
I’ve also done an update to the annual $120K credit card showdown piece, which benchmarks the Citi Prestige to other competitors in its segment like the HSBC Visa Infinite and OCBC VOYAGE.
2024 Edition: The $120K Credit Card Showdown
Conclusion
Citibank has extended the Citi Prestige Card’s 50,000 miles welcome offer till 30 September 2024.
At 1.09 cents per mile,it’s a decent offer in and of itself, and that figure will come down once you adjust it for the value of other perks like lounge access and 4NF.
This offer is valid for both new and existing Citi cardholders, though if you’re the former I’d strongly advise you to sign up for either the Citi PremierMiles Card or Citi Rewards Card first, in order to enjoy the new-to-bank bonuses on those cards. You can then apply for a Citi Prestige Card and enjoy the same bonus a new customer would.
