Citibank Prestige Credit Card – Benefits, Fees & Eligibility

Citibank Prestige Credit Card

The Citibank Prestige Credit Card is a super-premium travel and lifestyle credit card designed for high net-worth frequent fliers. It offers excellent reward rates on retail purchases, with the highest redemption value achieved when transferring reward points to partner airlines’ AirMiles programs at a rate of 1 Reward Point = 4 AirMiles. Cardholders benefit from unparalleled travel advantages such as welcome gifts from the Taj group and ITC hotels, a complimentary extra night stay at hotels worldwide, and a complimentary Priority Pass membership providing unlimited domestic and international lounge access for both primary and add-on cardholders.

Welcome Benefits

• 2,500 bonus reward points are awarded.
• A benefit worth Rs. 10,000 is provided from ITC hotels or the Taj group.
• This annual benefit includes 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 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
• Renewal Fee: Rs. 20,000 + GST
• Spend-Based Waiver: N/A
• Rewards Redemption Fee: Nil
• Foreign Currency Markup: 3.5% (plus applicable taxes)
• Interest Rates: 3.75% per month or 45% annually
• Fuel Surcharge: 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• Cash Advance Charges: 2% of the withdrawn amount, subject to a minimum amount of Rs. 300.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

• Movies & Dining

  • Up to 50% off on movie ticket bookings on BookMyShow.

• Rewards Rate

  • 1 Reward Point for every Rs. 100 on domestic spends.
  • 2 Reward Points for every Rs. 100 on international spends.

• Travel

  • Unlimited complimentary airport lounge access worldwide through the Priority Pass, for both primary and add-on cardholders.
  • A complimentary extra night at any hotel around the world is offered when booking for a minimum of 4 nights. This is applicable only if the booking is done via Citibank’s concierge service.
  • For cardholders with the Visa variant, only a 3-nights stay payment is required at the time of booking, with the 4th night's stay complimentary.
  • For cardholders with the MasterCard variant, 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, with a conversion rate of 1 Reward Point = 4 AirMiles.
  • Complimentary Taj Epicure Plus plan and InnerCircle Silver membership.

• Domestic Lounge Access

  • Unlimited with Priority Pass for primary and add-on cardholders.

• International Lounge Access

  • Unlimited with Priority Pass for primary and add-on cardholders.

• 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 after 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.
  • The overseas medical insurance includes only hospitalization expenses for illness and treatments overseas up to a maximum of 30 days.

• Lifestyle

  • Access to 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 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.
• Reward points are redeemable for shopping via SMS.
• You can settle your card’s outstanding balance with Citi Prestige reward points, where 1 Reward Point = Re. 1.
• There is no expiry date for Citi Prestige reward points.
• Categories excluded for reward point earnings include: Transportation & Tolls, Utilities, Insurance, Educational Institutions, and Government Institutions.

Card Eligibility Criteria

• Eligibility Rules:
  • Age must be 21 years or above.
  • Annual income must be at least Rs. 25,00,000.
  • Applicant should have a decent credit score.
  • Only existing Citibank account holders can apply for their credit cards.
• Documents Required:
  • PAN card.
  • Address proof (e.g., Aadhar card, Voter card, driving license).
  • Proof of income (last 3 salary slips for salaried applicants and last year’s ITR with audited financials for self-employed individuals).

Card Review

The Citibank Prestige Credit Card is a strong contender for individuals willing to pay a high annual fee of Rs. 20,000 for exceptional travel rewards. Its standout feature is the excellent reward redemption rate when transferring points to partner airlines’ AirMiles programs (1 Reward Point = 4 Air Miles), making it highly valuable for frequent international travelers. Beyond travel, the card offers a variety of lifestyle privileges, including complimentary golf rounds, a dedicated concierge service, and an extra night stay at hotels worldwide. While the card offers top-notch travel experiences and benefits, potential drawbacks include a high foreign currency markup fee and a high-interest rate. This card is best suited for high net-worth individuals who prioritize premium travel and lifestyle experiences and can maximize its extensive reward and benefit 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 redeemable for gift vouchers and gadgets, transferable to frequent flyer points, hotel loyalty programs, and many more categories.
• Complimentary Taj Epicure Plus and Taj InnerCircle Silver 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 (hospitalization expenses for illness and treatments overseas up to a maximum of 30 days).
• Lost card protection worth Rs. 10 lakh.
• No expiry date for Citi Prestige reward points.
• 4 complimentary rounds and 4 lessons of golf annually.
• High Joining Fee: Rs. 20,000 + GST.
• High Renewal Fee: Rs. 20,000 + GST.
• High Foreign Currency Markup: 3.5% (plus applicable taxes).
• High Interest Rates: 3.75% per month or 45% annually.
• Cash Advance Charges: 2% of the withdrawn amount, subject to a minimum of Rs. 300.
• Reward point earnings are excluded for categories such as Transportation & Tolls, Utilities, Insurance, Educational Institutions, and Government Institutions.

Other Details

• Best Suited For: Travel.
• How to Apply: You can apply by visiting the card’s home page and selecting the "Get Citi Prestige Card" option to fill out an online form. Alternatively, you can apply offline by visiting your nearest 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 like reporting a lost card. For general queries and assistance, the service is available from 9 AM to 7 PM (Monday - Saturday).