Citibank Prestige Credit Card – Benefits, Fees & Eligibility

Introduction

The Citibank Prestige Credit Card is a super-premium travel and lifestyle credit card issued by Citibank, primarily aimed at high net-worth frequent fliers. It offers an exceptional reward redemption rate, particularly when transferring points to partner airlines' AirMiles programs, where 1 Reward Point equals 4 AirMiles. Key differentiating benefits include a substantial welcome gift from the Taj group or ITC hotels, a complimentary extra night stay at any hotel worldwide, and unlimited domestic and international lounge access through Priority Pass for both primary and add-on cardholders.

Welcome Benefits

• 2,500 bonus reward points.
• A benefit worth Rs. 10,000 from ITC hotels or the Taj group. This can be a single gift voucher worth Rs. 10,000 from the Taj group or four gift vouchers worth Rs. 2,500 each from ITC hotels.
• The vouchers can also be used for partial payments.
• Welcome benefits are posted within 60 days from the date of the first transaction made using the card.
• Cardholders receive these benefits every year upon card renewal.

Fees

• Joining Fee: Rs. 20,000 + GST
• Annual Fee: Rs. 20,000 + GST
• Spend-Based Waiver: Not applicable.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% (plus applicable taxes).
• Interest Rates: 3.75% per month or 45% annually.
• Fuel Surcharge Waiver: 1% fuel surcharge waived at authorised Indian Oil outlets.
• Cash Advance Charges: 2% of the withdrawn amount, subject to a minimum amount of Rs. 300.

Rewards

• Rewards Rate:
  • 1 Reward Point for every Rs. 100 on domestic spends.
  • 2 Reward Points for every Rs. 100 on international spends.
  • Reward points earned on the Citi Prestige credit card never expire.
  • Categories excluded for reward point earnings include Transportation & Tolls, Utilities, Insurance, Educational Institutions, and Government Institutions.
• Movies & Dining: Up to 50% off on movie ticket bookings on BookMyShow.
• Travel:
  • Unlimited complimentary airport lounge access worldwide through the Priority Pass for both primary and add-on cardholders.
  • Complimentary extra night at any hotel around the world when booking for a minimum of 4 nights. This is applicable only if the booking is done via Citibank’s concierge service.
    • For Visa variant cardholders, pay only for a 3-nights stay at the time of booking and get the 4th night’s stay complimentary.
    • For MasterCard variant cardholders, the amount spent for the 4th-night stay is credited as a statement credit within 2 billing cycles (no rebate is applicable at the time of booking).
  • Reward Points are transferable to partner airlines’ frequent flyer programs (1 Reward Point = 4 AirMiles).
  • Complimentary Taj Epicure Plus plan and InnerCircle Silver membership.
• Golf:
  • 4 complimentary rounds and 4 lessons of golf annually at over 15 premium golf destinations in India.
  • An additional golf lesson can be availed for every Rs. 50,000 spent with the card, post the initial 4 complimentary lessons.
• Insurance Benefits:
  • Air accident cover worth Rs. 5 crore.
  • Lost card protection worth Rs. 10,00,000.
  • Overseas medical insurance worth USD 50,000. This includes hospitalization expenses for illness and treatments overseas up to a maximum of USD 50,000 for a maximum of 30 days.
• Lifestyle: Citi concierge service for day-to-day tasks.

Rewards Redemption Guide

• Reward points can be redeemed for purchasing gift vouchers from popular brands and gadgets on the Citi Prestige Reward Catalog.
• Reward points can be transferred to partner airlines’ frequent flyer programs as AirMiles, with a conversion rate of 1 Reward Point = 4 Airmiles. Partner airlines include:
  • Air India
  • Eva Air
  • Singapore Airlines
  • British Airways InterMiles
  • Cathay Pacific Malaysia Airlines
  • Etihad Airways
  • Virgin Atlantic Thai Airways
  • Qantas Flying Blue (Air France and KLM)
  • Qatar Airways
  • Turkish Airlines
• Reward points can also be transferred to partner hotel loyalty programs:
  • 1 Reward Point = 1 Taj InnerCircle point.
  • 1 Reward Point = 4 IHG points.
• Citi Prestige reward points are redeemable for shopping via SMS.
• Reward points can be used to settle the card’s outstanding balance, where 1 Citi Prestige Reward Point = Re. 1.
• There is no expiry date for Citi Prestige reward points.

Card Eligibility Criteria

• Eligibility Rules:
  • Applicant's age must be 21 years or above.
  • Applicant's annual income must be at least Rs. 25,00,000.
  • Applicant should have a decent credit score.
• Documents Required:
  • PAN card.
  • Address proof (e.g., Aadhar card, Voter card, driving license).
  • Proof of income (last 3 salary slips for salaried applicants; last year’s ITR with audited financials for self-employed applicants).

Card Review

The Citibank Prestige Credit Card is considered a super-premium offering, particularly strong for travel rewards. While it carries a high annual fee of Rs. 20,000, its value proposition for frequent travelers is significant due to an excellent reward redemption rate on transferring points to partner airlines’ AirMiles programs (1 Reward Point = 4 Air Miles). Beyond travel, it offers a plethora of lifestyle privileges, including complimentary golf rounds, concierge services, and an extra night stay at hotels worldwide. However, potential drawbacks include a high foreign currency markup fee of 3.5% and a high annual interest rate of 45%. It is an ideal card for individuals seeking a top-notch travel experience and who are comfortable with its premium fee structure.

Important Product Details

• Welcome benefit of 2,500 bonus reward points at the time of joining.
• An annual benefit worth Rs. 10,000 from Taj group / ITC hotels every year.
• 1 reward point for every Rs. 100 on domestic spends.
• 2x reward points on international spends.
• Reward points are redeemable for gift vouchers and gadgets, and transferable to frequent flyer points, hotel loyalty programs, and many more categories.
• Complimentary Taj Epicure and Taj InnerCircle membership.
• Unlimited airport lounge access around the world with Priority Pass for primary as well as add-on card members.
• Citi concierge service for day-to-day tasks.
• Overseas medical insurance cover worth USD 50,000.
• Lost card protection worth Rs. 10 lakh.

Other Details

• Application Process: The card can be applied for online by visiting the card’s home page and selecting the "Get Citi Prestige Card" option, which redirects to an application form. Alternatively, one can apply offline by visiting a Citibank branch with all required documents and filling out a physical application form.
• Customer Care: Citibank’s 24x7 customer care number (CitiPhone) is available for emergency services, such as reporting a lost card. For general queries and assistance, the service is available from 9 AM through 7 PM (Monday - Saturday).
• Reward points earned on the Citi Prestige credit card never expire.
• Both primary and add-on card members receive complimentary airport lounge access with the Citi Prestige credit card.
• Reward points can be adjusted against the card’s statement balance, with 1 Citi Prestige Reward Point equaling Re. 1 in this case.
• The complimentary extra night stay at hotels across the world is provided for a minimum reservation period of 4 days and requires the booking to be done via Citibank’s concierge service.