Citi has improved the sign-up bonus for its PremierMiles card from 26,500 miles to 34,200 miles, which has featured an offer for new customers since October 2019. The latest deal is valid for applications made by 31st January 2021. This allows you to buy miles for just 0.56 cents each, a very competitive rate, provided you have S$9,000 spending to make in the first three months.
This time there are two sign-up offers, depending on whether you wish to pay the first year annual fee or not.
This new deal gives brand new customers, and former Citi cardholders who have now exceeded 12 months without one of the bank’s credit cards, the opportunity to secure a 34,200-mile sign-up bonus with a spend of S$9,000 in the first three months.
Here are the full details of the sign-up bonus options for the Citi PremierMiles card, for applications by 31st January 2021.
The main offer – 34,200 miles bonus:
Provided you don’t currently hold a Citi credit card and haven’t held one in the last 12 months, you’ll be eligible for a bonus of 34,200 miles, subject to having S$9,000 of spending to do from the approval date until the end of the third full calendar month, not including the calendar month of card approval.
For example, if you are approved for the card on 7th November 2020, the qualifying spend period is from that date until 28th February 2021 (three full calendar months from 1st December 2020).
It is subject to payment of the annual fee, which is S$192.60.
Bonus miles are awarded within two months of meeting the spend criteria.
As you can see you’ll get the remainder of the month in which your card was approved plus three full calendar months thereafter to meet the spend threshold.Pro Tip: Get approved towards the beginning of the month to give yourself almost four months to meet the spend threshold.
Citi promotes this 34,200 miles bonus as a 45,000 miles one, because they include the miles you would earn anyway for spending S$9,000 locally at the 1.2 miles per dollar rate.
Here’s how the bank outlines the offer:
Those 10,800 miles aren’t part of the bonus because you would receive them if you spent that amount on the card without a sign-up bonus even running, and we think you should be earning more than that anyway with a card like the UOB PRVI Miles (1.4 mpd on local spend).
45,000 miles is the total you will receive, but 34,200 miles is the bonus.
Cost per mile is the annual fee (S$192.60) divided by the bonus (34,200) = 0.56 cents each. Full terms and conditions for the main sign-up offer can be found here.
Offer 2 – 13,200 miles bonus:
If you’re still new to Citi credit cards but prefer not to pay the annual fee (first year fee waiver), and will spend at least S$4,000 from card approval to the end of the third full calendar month following the month card approval (as defined above), you will earn a 13,200 miles bonus.
Again Citi includes the miles you would earn anyway for spending S$4,000 on this card, even if a sign-up bonus didn’t exist, and so promotes it as an 18,000 miles bonus.
The terms and conditions for Offer 2 can be found here.
Citi Miles are very flexible
One of the best things about Citi Miles (and Citi ThankYou points) in Singapore is the wide range of transfer partners compared with other bank loyalty points.
You can transfer your miles into 11 different frequent flyer programmes and on the hotel side into IHG points.
|Citi Miles credit to the following loyalty schemes:|
For a full list of which credit card loyalty points balances transfer into which frequent flyer programmes or hotel loyalty schemes in Singapore, check out our comprehensive guide here. It also gives examples of some of the alliance and partner airline redemptions you can achieve that you might not have considered before.
As you can see from the table above, Citi gives you a wide range of flight redemption options including oneworld and SkyTeam carriers.
For example we’ve used Citi Miles transferred into British Airways Avios points to fly Qantas A380 First Class and Qatar’s amazing Qsuite.
Frankfurt to Doha on board the Qatar Qsuite cost us just 37,500 Avios points, transferred from 37,500 Citi Miles. That’s good value for a flight of this length – roughly equivalent to flying from Singapore to Osaka. Read our full review of the experience here.
Our card review
We updated our full review of the Citi PremierMiles card today in light of the sign-up bonus extension. Read the full review here if you’re considering this card, as it goes into a lot more depth on the other features, to help you decide if it’s the right product for you.
Top sign-up bonuses
We’ve also updated our Top Credit Card Sign-up Bonuses page to reflect the extension of this offer from Citi.
There you can check out how this deal stacks up against all the other sign-up bonuses currently on the market in Singapore.
The competitive sign-up bonus for Citi’s PremierMiles card has had a great boost this month, with 34,200 miles now on offer for applications by 31st January 2021.
It’s the equivalent of buying miles for 0.56 cents each, for those with S$9,000 spend to make in the first three months.
You may now qualify having cancelled your last Citi credit card more than 12 months ago (if you cancelled in January 2020 or before that for example, you’re now either eligible for the bonus again, or will be during this promotion).
Citi continues to be generous with this offer, also offering a 13,200 bonus miles option for those who don’t want to pay the annual fee.
Annual fee: $192.60/yr (first year free)
(Cover Photo: Shutterstock)
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