Citi Prestige Review: A Premium Credit Card with Many Exclusive Privileges

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Citi Prestige Review: A Premium Credit Card with Many Exclusive Privileges

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Made for those who demand the highest levels of service at every step, the Citi Prestige Credit Card is a gateway to unique benefits and personalised privileges. It’s a premium credit card with a host of exclusive benefits on dining, travel, entertainment, etc. catering to the affluents.

Read our review to find out more about the Citi Prestige Credit Card.

Related: 6 Top Travel Credit Cards in Malaysia That Help You Save More

Earn unlimited Citi Rewards points

Here’s how you can earn rewards with this credit card:

  • Earn 2x Citi Rewards points when you spend the equivalent of RM1 in a foreign currency
  • Earn 1x Citi Rewards points when you spend RM1 locally

When it comes to earning reward points with a credit card, you’ll usually have to deal with a limit on the number of points you can earn in a month. You may even have to meet a minimum spend requirement to earn the requisite number of points.

But when you transact with the Citi Prestige Credit Card, you earn reward points on almost every Ringgit you spend. You can then redeem these points for instant rewards, lifestyle products, catalogue items, air miles, hotel loyalty points, or even offset previous purchases.

What’s better is that these reward points never expire!

Also, your points earning potential isn’t just limited to retail transactions made with this card. In fact, you can earn additional reward points as a relationship bonus based on your annual spend and the amount of time you’ve been with Citibank Malaysia. You stand to earn double the number of points if you’re a Citigold member!

Related: Top Petrol Credit Cards in Malaysia That Let Us Drive Around for Less

Other features of the card that you should know

The Citi Prestige Credit Card is more than just a rewards credit card that helps you earn points. Truth is that it’s great for travel, dining, and entertainment perks too. Here are some of the additional features and benefits of this card that you’d do well to know:

Travel perks

  • Get unlimited access to more than 800 VIP lounges in major airports around the world with Priority Pass membership
  • Get a complimentary night at any hotel of your choice with a minimum 4-consecutive-night stay. Click here for more information
  • Stay protected with complimentary travel insurance cover with personal accident benefit of up to US$1,000,000

Shopping benefits

  • Enjoy extended warranty of up to US$ 500 per occurrence on selected products bought in Malaysia
  • Eligible products bought using this card are protected to the tune of US$ 3,000 per occurrence up to 90 days
  • Online purchases made with this card are covered up to US$ 1,000 for every occurrence

Lifestyle privileges

  • Get an exclusive Citi Prestige Concierge to handle all your lifestyle requests in Malaysia and overseas
  • Enjoy exciting offers and privileges at more than 24,000 outlets in Malaysia and across the world with Citi World Privileges
  • Get invited to exclusive events like fashion shows, movie previews, music concerts, and shopping festivals
  • Get 24/7 assistance from a qualified Citi representative wherever you are with the Citi Prestige Priority Line

Related: VIDEO: How to Apply for a Credit Card on BBazaar Malaysia like a Breeze!

What does the complimentary insurance on this card include?

Here’s a list of insurance benefits that you’ll get with the Citi Prestige Credit Card:

  1. Travel accident cover – Up to US$ 1,000,000
  2. Travel medical cover – Up to US$ 1,000,000
  3. Daily in-hospital cash coverage – US$ 100 each day
  4. Trip delays – Up to US$ 900 for each trip
  5. Trip curtailment cover – Up to US$ 7,500
  6. Baggage loss – Up to US$ 3,000
  7. Baggage delay – Up to US$ 450
  8. Emergency medical evacuation – Up to US$ 2,000,000
  9. Wallet loss – Up to US$ 500
  10. Collision damage waiver for hire cars – Up to US$ 50,000 for every occurrence

Related: 5 Credit Cards That Give the Best Value for Overseas Spends

Are there any promotional offers?

Citi Prestige Review: A Premium Credit Card with Many Exclusive Privileges

Screengrab of Citi Prestige webpage

As a Citi Prestige Credit Card holder, you can enjoy exciting offers and privileges at over 24,000 participating merchant outlets in Malaysia and around the world with Citi World Privileges. Here are a couple of exclusive promotional offers that really do stand out:

  • Get 1-for-1 Gold Class tickets for movie screenings on weekends—Saturdays and Sundays—at selected Golden Screen Cinemas’ outlets. This offer is valid until 31 March 2019
  • Enjoy complimentary Wi-Fi access at more than 1 million hotspots around the world with a Boingo account. This offer is valid until 31 December 2018

Related: Infographic: 7 Credit Cards That Help You Save More on Grocery Spends

Does this card have any drawbacks?

Although the Citi Prestige Credit Card has been touted to be one of the best cards out there owing to the multitude of rewards and benefits on offer, it doesn’t mean that the card has no downsides.

To begin with, many consider its annual fee requirement of RM1,000 (with 0%GST) too steep. That said, some of its privileges, like the complimentary night stay for a 4-night booking and the travel insurance coverage, do make up for it. It actually depends upon the cardholder’s spending patterns to realise the full potential of this credit card.

Secondly, consider the reward points you can earn with this card. While you can earn unlimited reward points for overseas and local retail transactions, the number of points itself isn’t a lot, especially when you compare it with other cards that carry a similar annual fee.

For instance, the Alliance Bank Visa Infinite Credit Card costs RM800 (inclusive of 0% GST) annually and offers 5x Timeless Bonus Points for overseas spends and 2x TBPs for local transactions. You can then redeem TBPs with your chosen frequent flyer programme at the rate of 6000 TBPs for 1000 Enrich Miles, and 3000 TBPs for 1000 AirAsia BIG Points. Having said that, the other privileges that come with the Citi card does make it a useful asset to own.

Related: 5 Smart Tips to Ace the Credit Card Reward Points Game and Save on Travel Costs

Eligibility criteria

Minimum age requirement for the principal cardholder 21 years
Minimum age requirement for the supplementary cardholder 18 years
Annual income requirement RM200,000 p.a.

Documents required

Applicant type Required documents
Salaried professionals
  • A copy of MyKad (both sides)
  • Last 2 months’ pay slips, or
  • Latest EPF statement, and
  • Latest EA form, or
  • Latest BE form with tax payment receipt, or
  • Last 3 months’ bank statement
Self-employed individuals
  • A copy of MyKad (both sides)
  • A copy of the Business Registration form, and
  • Latest B form with tax payment receipt, or
  • Last 6 months’ bank statement
Salaried expatriates
  • A copy of Passport
  • Last 2 months’ pay slips, and
  • Letter of Employment, and
  • Work permit that is valid for 6 months or more at the time of application

Fees and charges

Annual fee (principal card) RM1,000 (with 0% GST)
Annual fee (supplementary card) Free for life
Retail interest rate 15% p.a. to 18% p.a. based on your repayment behaviour over the last 12 months
Cash advance interest rate 18% p.a
Cash advance fee Zero charges
Monthly repayment instalment 5% of the outstanding balance that’s subject to a minimum amount of RM50
Late payment charges Zero charges
Overseas transaction fee Overseas transactions made in foreign currencies will be converted into Malaysian Ringgit at the prevailing rate according to Mastercard International. There will be an additional 1% foreign exchange conversion markup fee charged by Citibank Malaysia

Related: Love Cashback? Here Are 5 Credit Cards You Must Check Out

Conclusion

To sum things up, the Citi Prestige Credit Card is a premium offering from Citibank Malaysia that’s loaded with exclusive travel perks, redeemable rewards, dining privileges, and entertainment bonuses. However, it does come at a price – a steep one at that! But if the spending requirements are in line with your lifestyle needs (if you’re a frequent overseas traveller, for example) the Citi Prestige Credit Card will prove to be a financial tool of convenience for you.

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Citi Prestige Card
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  • Earn 2 Citi Rewards points for every RM1 equivalent spent in foreign currencies

    Earn 1 Citi Rewards point for every RM1 spent locally on eligible transactions

    Complimentary night at any hotel you choose with a minimum stay of 4 consecutive nights

    Complimentary travel insurance cover with personal accident benefit of up to US$ 1 million

  • Minimum income – RM200,000 p.a

    Minimum age – 21 years old

    For Salaried Employees: A copy of MyKad (both sides), last 2 months’ pay slips, or latest EPF statement, and latest EA form, or latest BE form with tax payment receipt, or last 3 months’ bank statement

    For Self-Employed Professionals: A copy of MyKad (both sides), a copy of the Business Registration form, and latest B form with tax payment receipt, or last 6 months’ bank statement

    For Salaried Expatriates: A copy of Passport, last 2 months’ pay slips, and letter of Employment, and work permit that is valid for 6 months or more at the time of application

  • Annual fee: Principal card – RM1,000 (with 0% GST). Supplementary card – Free for life

    Interest rates: 15-18% p.a.

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All information provided in this article/blog, published on this website is strictly for general information purpose only. BBazaar does not provide any warranty about the authenticity and accuracy of such information. BBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Please visit the websites of respective banks/financial institutions for more details about products.

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