Citi has a new bonus miles offer for its Prestige card running between now and the end of October 2022, allowing you to net 48,000 bonus miles for payment of the annual fee and with a minimum spend of S$800 in the first two months, provided you’re not currently a primary Citi cardholder.
Previously the Citi Prestige card was offering a 40,000 miles sign-up bonus with the same S$800 minimum spend required, however that has been superseded by this offer.
This updated deal allows you to effectively ‘buy’ a very useful stash of 48,000 miles for 1.11 cents each, even if you put no value on the card’s other perks, like unlimited lounge access and airport limo transfers.
The spend requirement of S$800 in the first two months is also very modest, and can even include Citi PayAll transactions.
Here are the full details of the latest Citi Prestige card sign-up bonus, for applications by 31st October 2022.
Provided you don’t currently hold a Citi credit card as the primary cardholder and haven’t held a Citi Prestige card in the 12 months before application, you’ll be eligible for a bonus of 48,000 miles, subject to having S$800 of spending to make from the approval date until the end of the second full calendar month.
For example, if you are approved for the card on 7th August 2022, the qualifying spend period is from that date until 31st October 2022 (two full calendar months from 1st September 2022).
It is subject to payment of the annual fee, which is S$535. Your card must be approved within 30 days of the application date.Pro Tip: Try to get approved towards the beginning of the month to give yourself almost three months to meet the spend threshold.
Here’s how Citi outlines the offer:
Citi ThankYou Points (TYPs) transfer to airline miles including KrisFlyer, Asia Miles and Avios, at a 2.5:1 ratio, so 120,000 TYPs is equivalent to 48,000 miles.
Remember the Citi Prestige card earns 1.3 mpd for local transactions, so you will also earn 1,040 miles for the minimum S$800 spend itself, for a total earning of 49,040 miles, though these extra 1,040 miles aren’t part of the bonus – since you would receive them anyway without any offer running.
Cost per mile is the annual fee (S$535) divided by the bonus (48,000) = 1.11 cents each.Important! If you do not meet the minimum spend requirement (S$800) within the qualifying spend period, no bonus miles will be awarded.
Full terms and conditions for the sign-up offer can be found here.
With this sign-up offer you’ll have to make sure your minimum S$800 spend falls under eligible categories, which Citi defines as:
Any retail transactions (including internet purchases) which do not arise from:
- Annual fees, interest charges, late payment charges, GST, cash advances, instalment / easy / extended / equal payment plans, preferred payment plans, balance transfers, cash advances, quasi-cash transactions, all fees charged by Citibank or third party, miscellaneous charges imposed by Citibank (unless otherwise stated in writing by Citibank)
- Funds transfers using the card as source of funds
- Bill payments (including via Citibank Online or via any other channel or agent)
- Payments to educational institutions
- Payments to government institutions and services (including but not limited to court cases, fines, bail and bonds, tax payment, postal services, parking lots and garages, intra-government purchases)
- Payments to insurance companies (sales, underwriting, and premiums)
- Payments to financial institutions (including banks and brokerages)
- Payments to non-profit organisations
- Betting or gambling (including lottery tickets, casino gaming chips, off-track betting, and wagers at race tracks) through any channel
- Top-ups or payment of funds to payment service providers, prepaid cards and any prepaid accounts
- Transit-related transactions
- Transactions performed at establishments/businesses/merchants that fall within an excluded Merchant Category or a merchant that has been excluded by the bank, as sent out in www.citibank.com.sg/rwdexcl (this list of excluded Merchant Categories or merchants may be updated from time to time)
Citi PayAll transactions are counted towards the minimum spend, with regular offers to buy miles at competitive rates. Although there is no deal running at the moment, special offers can mean buying miles for as little as 0.8 cents each, so keep an eye out for upcoming deals.
That could make a rental payment, income tax bill or insurance payment a perfect way to meet the S$800 minimum spend under this bonus miles earning offer, if you don’t have any other spend coming up.
When are the bonus miles credited?
Bonus miles are awarded in the form of 120,000 Citi ThankYou Points within three months of the end of the qualifying spend period.
- Card approved: 7th August 2022
- Spend period: 7th August – 31st October 2022
- Bonus miles awarded: By 31st January 2023
Bear in mind there is a S$26.75 fee each time you transfer Citi ThankYou Points to airline miles, and unfortunately the points do not pool with those accrued on other Citi cards.
Citi Prestige benefits
The Citi Prestige card earns 1.3 mpd for local transactions (SGD) and 2 mpd for overseas spend (FCY), however there is also a “relationship bonus”, which offers small boost based on your banking tenure as a Citi customer.
Long-time Citi customers with Citigold status get the best rates here of up to 1.42 mpd locally and 2.12 mpd for FCY spend.
The card also comes with some other perks, and although they’ve largely been useless during COVID-19, with travel back on the agenda they are once again nice value propositions you may consider worth having:
- Unlimited Priority Pass lounge access, plus one guest
- Fourth night free when you book a consecutive four-night+ stay at any hotel or resort
- 25,000 miles on renewal when you pay the annual fee
- Two complimentary limo rides to or from Changi Airport per quarter, with a minimum spend of S$12,000 in the same quarter
Citi TYP are very flexible
One of the best things about Citi ThankYou Points (and Citi Miles) in Singapore is the wide range of transfer partners compared with other bank loyalty points.
You can transfer your miles into 10 different frequent flyer programmes and into IHG points.