Citi has extended its competitive bonus miles offer for the popular PremierMiles card, now allowing you to score 30,000 bonus miles with payment of the annual fee and a minimum spend of only S$800 in the first two months, for applications through to the end of March 2023.
The excellent deal is the equivalent of buying miles for just 0.65 cents each, a highly competitive rate, provided you have a relatively modest spend coming up in the next few months.
To be eligible, you’ll have to be a new-to-bank customer who therefore isn’t currently a primary Citi credit card holder, or you must have cancelled your last card with the bank more than 12 months ago.
There continue to be two sign-up offers for new customers, depending on whether you wish to pay the first year annual fee or not.
30,000 bonus miles when you spend
Here are the full details of the sign-up bonus options for the Citi PremierMiles card, now running for applications by 31st March 2023.
The main offer – 30,000 miles bonus:
Provided you don’t currently hold a Citi credit card as the primary cardholder and haven’t held one in the 12 months before application, you’ll be eligible for a bonus of 20,000 miles, subject to having S$800 of spending to make from the approval date until the end of the second full calendar month, plus a further 10,000 miles for payment of the annual fee.
For example, if you are approved for the card on 17th January 2023, the qualifying spend period is from that date until 31st March 2023 (two full calendar months from 1st February 2023).
Remember this offer is subject to payment of the annual fee, which is S$194.40. Your card must be approved within 30 days of the application date.
10,000 bonus miles are credited immediately on payment of the annual fee, while the remaining 20,000 bonus miles are awarded within three months of meeting the spend criteria.Pro Tip: Try to get approved towards the beginning of a month to give yourself almost three months to meet the spend threshold.
Here’s how the bank outlines the offer:
Remember you will also earn 10,000 miles for paying the first year annual fee and 960 miles for the S$800 spend itself, assuming eligible local transactions on your card, for a total earning of 30,960 miles, though the extra 960 miles aren’t part of the total bonus since you would receive them anyway without any offer running.
Cost per mile is the annual fee (S$194.40) divided by the bonus element (30,000 miles) = 0.65 cents each.
No annual fee offer – 8,000 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 also spend at least S$800 from card approval to the end of the second full calendar month following the month card approval (as defined above), you will earn an 8,000 miles bonus.
Including the 960 miles you’ll earn for the spend itself, under this offer you’re effectively earning 11.2 mpd for the first S$800 spend (8,960 total miles earned divided by S$800).
Personally we would go for the annual fee option, rather than this one, to unlock the much more generous bonus miles offer.
With these sign-up offers you’ll have to make sure your minimum spend (e.g. S$800 for the maximum bonus) 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)
Citi PayAll transactions are counted towards the minimum spend, with regular offers to buy miles at competitive rates. Special offers can mean buying miles for as little as 0.8 cents each, so keep an eye out for the latest 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.
You can even achieve the spend buying Cold Storage or NTUC vouchers for future shopping, if you don’t have any immediate expenses coming up.
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 10 different frequent flyer programmes and into IHG points.