Citi Rewards Credit Card – Benefits, Fees & Eligibility

Introduction

The Citi Rewards Credit Card, issued by Citibank, is a mid-range credit card designed to offer lucrative reward opportunities, especially for shoppers. It provides up to 2,500 bonus Reward Points as a welcome benefit, offers 10x Reward Points on apparel and departmental store purchases, and allows cardholders to earn bonus Reward Points monthly by meeting spending thresholds.

Welcome Benefits

• Get 1,500 bonus Reward Points within 30 days of card activation on making the first transaction with the card.
• Receive an additional 1,000 bonus Reward Points on making a transaction of Rs. 1,000 within 60 days of card issuance.

Fees

• Joining Fee: Rs. 1,000 plus applicable taxes. This fee is complimentary for Citibank Suvidha account holders.
• Annual Fee: Rs. 1,000 plus applicable taxes. This fee is complimentary for Citibank Suvidha account holders.
• Spend-Based Waiver: The renewal fee can be waived off on spending Rs. 30,000 or more in the previous year.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% on all foreign currency spends.
• Interest Rates: 3.75% per month (equivalent to 45% per annum).
• Fuel Surcharge Waiver: A 1% fuel surcharge is waived off at all Indian Oil outlets for a minimum fuel transaction of Rs. 10.
• Cash Advance Charges: 2.5% of the amount withdrawn or Rs. 500, whichever is higher.

Rewards

• Earn 1 Reward Point for every Rs. 125 spent on most categories.
• Earn 10 Reward Points per Rs. 125 spent on apparel and departmental stores.
• The incremental reward points (additional 9x) under the 10x category are capped at 504 points per month, meaning the maximum additional points are earned on spending up to Rs. 7,000 in these categories per statement cycle.
• Get 300 bonus Reward Points on a minimum monthly spend of Rs. 30,000.
• Receive a discount of up to 20% on dining at partnered restaurants.
• Reward Points never expire.
• No Reward Points are earned on certain categories including fuel, educational institutions, government institutions, insurance, toll payments, and utility purchases.

Rewards Redemption Guide

• Reward Points can be redeemed against various categories including fuel at Indian Oil outlets, product catalog, Air Miles/InterMiles, and cashback.
• Redemption Value and Minimum Points:
  • Fuel at Indian Oil outlets: Re. 0.25 per Reward Point, with a minimum of 250 points required for redemption.
  • In-store shopping at partner brands/online shopping: Re. 0.30 per Reward Point, with a minimum of 250 points required for redemption.
  • Online travel site: Re. 0.25 per Reward Point, with a minimum of 250 points required for redemption.
  • Cashback: Re. 0.35 per Reward Point, with a minimum of 10,000 points required for redemption.
  • AirMile/InterMile: 0.75 InterMile per Reward Point, with a minimum of 100 points required for redemption.

Card Eligibility Criteria

• Age: Above 21 years.
• Income: Must have a stable source of income.
• Credit Score: A decent credit score of 750 or above is generally required.

Documents Required

• Identity Proof: PAN Card, Aadhar Card, Driving License, Voter’s Id, Passport, etc.
• Address Proof: Aadhar Card, Utility Bills of latest months, Passport, etc.
• Proof of Income: Latest audited ITR, or latest bank statements/salary slips.

Card Review

• The Citi Rewards Credit Card is highly recommended for individuals seeking a credit card with strong reward programs, particularly those who frequently shop at apparel and departmental stores.
• Pros: Offers exciting reward offers, points are redeemable across a wide array of categories and never expire, provides attractive welcome benefits, includes a renewal fee waiver, fuel surcharge waiver, and a monthly spend-based bonus.
• Who should apply: Anyone looking for a decent credit card with exciting advantages and good reward programs.

Important Product Details

• Up to 2,500 Reward Points as a welcome gift.
• Earn 1 Reward Point for every Rs. 125 spent.
• Earn 10x Reward Points on apparel and departmental stores.
• Receive 300 bonus Reward Points on spending Rs. 30,000 or more every month.
• The renewal fee can be waived off on spending Rs. 30,000 or more in the previous year.
• Enjoy a 1% fuel surcharge waiver on all fuel transactions at Indian Oil outlets.
• Reward Points never expire.
• The additional 9x Reward Points earned on departmental and apparel stores are capped at 504 Reward Points per statement cycle, which means the maximum benefit is achieved on spending up to Rs. 7,000 in these categories.
• No Reward Points are earned on fuel, educational institutions, government institutions, insurance, toll payments, and utility purchases.

Other Details

• How to Apply:
  • Applicants can visit the closest Citibank branch to apply offline.
  • Alternatively, apply online by visiting the Citibank website, selecting 'Apply Now', choosing the 'Citi Rewards Credit Card', and completing the required formalities with necessary documents.