Moneymax Reviews: How Rewarding Is a Citi Rewards Card?
Published: June 17, 2020 | Posted by: Ricky Publico | Credit Card
What’s the one thing first-time and veteran cardholders have in common? Their affinity for credit card rewards. One of the most popular rewards credit cards out there is the Citi Rewards Card. You could be searching for other cards, but Citibank’s reward-filled credit card has always been a good place to start.
Fortunately, Moneymax has you covered with the first edition of Moneymax Reviews, where we take an in-depth look at credit cards and other financial products in the Philippines. And the first product to go under the microscope? You guessed it—the Citi Rewards Card. Find out more in this Citi Rewards Card review.
Table of Contents
Citi Rewards Card Terms and Conditions
Every credit card comes with a set of terms and conditions, and the Citi Rewards Card is no different. It’s important to study them before applying for any credit card out there.
Citi Rewards Card Features
- Annual fee:
- PHP 2,500 for principal cardholders (free for the first year)
- PHP 1,250 for supplementary cardholders (free for the first year)
- Interest rate: 3.50%
- Minimum monthly income requirement:
- PHP 15,000 (for existing credit cardholders)
- PHP 20,833.33 (for new cardholders)
- Cash advance fee: PHP 500 per withdrawal or 3% of amount
- Monthly minimum due: PHP 500 or 1% of amount due
- Late payment fee: PHP 850
- Overlimit fee: PHP 750
- Foreigh transaction fee: 3.525% of amount
- Card replacement fee: PHP 400
Read more: Applying for a Rewards Credit Card? Read This First
What Rewards Can I Redeem with a Citi Rewards Card?
Right off the bat, you can eliminate the possibility of paying annual fees after the first year. Apply for a Citi Rewards Card today until July 31, 2020 and get rid of annual fees forever. Just spend at least PHP 20,000 using your card within 60 days of card receipt.
Citi Reward Card’s rewards program allows you to earn one (1) rewards point for every PHP 30 you spend, regardless of the spend category. You can then triple your rewards points if you use your Citi Rewards Card at shopping boutiques, department stores, and restaurants. Plus, your points have no cap and no expiry date, so that’s always a plus.
Here’s a glimpse of the exciting rewards you can redeem with a Citi Rewards Card.
| Rewards | Points Required |
|---|---|
| Cash Credit | PHP 1 = 15 Points |
| Annual Fee Waiver | 37,500 Points |
| Oakley Holbrook Backpack | 83,800 Points |
| Casio G Shock G100 Watch | 96,900 Points |
| AirPods Pro | 149,900 Points |
| Veho ZT-1 True Wireless Headphones | 207,000 Points |
| Apple Watch Series 5 | 271,500 Points |
| iPhone 11 | 533,300 Points |
You can also use your rewards points to book flights and hotels here and abroad. Just head down to Citibank’s rewards redemption page[1] and check all the possible rewards you can redeem.
Plus, you can use your rewards points to redeem cash credits. One (1) point is worth PHP 15, which means you’ll need 7,500 points to redeem a PHP 500 cash credit. You can then use this to pay for your credit balances or waive your annual fee for the year.
Read more: 7 Reasons to Get a Credit Card in the New Normal
What Perks Can I Enjoy with a Citi Rewards Card?
With the amount of rewards you can redeem with a Citi Rewards Card, you would think that it’s the only upside. While the rewards are what brings the most interest, the benefits of owning a Citibank credit card shouldn’t be ignored.
For instance, a Citi Rewards Card gives you access to exclusive promos with Citibank’s partner establishments in over 90 countries. You can also get up to 50% discounted deals at participating hotels, resorts, and airlines worldwide.
In addition, each Citibank credit card is eligible to avail Citi PayLite[2] Installment plans for purchases worth PHP 3,000 and above. Cardholders can choose from 3, 6, 9, 12, 18, and 24 monthly installments with 0% interest—perfect for big-ticket purchases. You can even use Citi PayLite for paying utility bills, medical expenses, and tuition fees.
Citibank also has a Citi Mobile App to manage everything related to your credit card. You can check your rewards points and air miles, redeem more rewards, manage your card settings, pay your credit balances, and other credit card-related transactions.
Interested in applying for a Citi Rewards Card? Here’s a quick view of the card’s features and fees.
However, if you think this isn’t the right credit card for you, read on below for alternatives you can consider. Keep on comparing to ensure you get a card that suits your budget and needs.
Read more: Swipe and Save: 10 Credit Cards with No Interest in the Philippines
Citi Rewards Card Alternatives
If you really want to own a Citi Rewards Card, you should probably apply for it before July 31, 2020. Skipping annual fees entirely is an understated perk that you should always capitalize. Otherwise, you’ll be paying the annual fee of PHP 2,500 after the first year. If you don’t want to pay any annual fees forever, try applying for a Citi Simplicity+ Card.
Make no mistake about it: the Citi Rewards Card is made for shoppers and rewards points hunters. But if you find Citibank’s rewards program lacking or you want to earn points quicker, try other rewards credit cards. For instance, both the HSBC Red Mastercard and the Metrobank Titanium Mastercardcan earn you one (1) rewards point for only PHP 20 spend.
You also won’t maximize the Citi Rewards Card’s benefits if you only shop for essentials. If that’s the case, try applying for a cashback credit card that can earn you rebates for every swipe. Try applying for a Citi Cash Back Card, a card that can earn you up to 6% rebate on groceries and up to 2% rebate on Meralco bills payments.
The Citi Rewards Card won’t earn you the most air miles either, although you can always pay for flights using your points. To earn the most air miles in the quickest way possible, try applying for an air miles credit card. Check out the HSBC Platinum Visa that will earn you 1 Asia Mile/Singapore Airlines Kris Flyer Mile per PHP 25 spend.
Read more: Cashback vs Rewards Credit Cards: Which Should You Get?
Final Thoughts
That concludes our Citi Rewards Card review! If you’re looking to make shopping more rewarding, then the Citi Rewards Card will help you do just that and more. With its wide range of rewards and other value-added perks, you should at least add this credit card at the top of your card options. Stay tuned for our next Moneymax Reviews!
Sources:
Ricky is the zaniest Senior Content Writer at Moneymax, with over five years of writing experience in the digital marketing industry. He is a huge fan of pro wrestling, smartphones, and binge-watching. Follow Ricky on LinkedIn.
