Citi Prestige Offer: 40,000 Miles Sign-up Gift

For a limited time, Citi is offering 40,000 miles (in the form of 100,000 ThankYou points) when you sign up for the Citi Prestige card, pay the compulsory annual fee, and spend S$800 in qualifying transactions. It’s a great deal for a great card, if you can meet the annual income requirements of S$120,000 (Citigold customers can qualify with at least S$30,000 income). The annual fee is significant too, but it’s well worth the price – more on that later.

Offer ends 30th June 2022. Extended to 31st July 2022

Please click each link to see the latest promo.

ActivityReward
Sign up with this link; annual fee of S$535 applies
Make minimum S$800 of qualifying spend within 2 months100,000 ThankYou Points (40,000 miles)
Optional: use PayAll to buy miles at 0.8 cents per mileFree limousine service if quarterly spend reaches S$12,000 (retail spend + PayAll transactions)
Existing Citi cardholders also qualify, unless you already own a Citi Prestige Card, or have cancelled one in the last 12 months. See terms and conditions.

During application, you might encounter an error if you apply as an existing customer. In that case, please make sure to tap the link again and apply as a new Citi card holder.

The usual sign-up reward is just 25,000 miles for paying the card’s annual fee. This offer is hence 15,000 bonus miles with an additional requirement of spending $800, which represents a staggering 18.75 bonus miles per dollar on top of the 1.3 mpd that this card earns. It’s been a while since we have seen a Citi Prestige offer, and with Covid-19 abating I think it’s an excellent time to consider this card.

What do you get for paying the annual fee?

Getting 25,000 miles from the S$535 annual fee works out to essentially buying each mile for 2.14 cents, and that is quite pricey, seeing as how I value miles to be between 1 to 1.5 cents each. With the bonus miles, you get 40,000 miles and hence the cost per mile is around 1.34 cents each; not the cheapest but also pretty fair depending on your own valuation of miles.

Furthermore, the annual fee pays for itself if you use the card’s features, and the headlining feature is really compelling: get your 4th night free when you book a minimum four-night stay at any hotel or resort through Citi Prestige Concierge.

Also, unlike Priority Pass memberships issued with lower tier cards like Citi PremierMiles or DBS Altitude that offers only 2 free lounge visits a year, Citi Prestige offers its cardmembers unlimited lounge visits, and one can even bring a guest for free.

If you use at least one of the features, the card’s annual fee is quite well worth paying for. Let’s not forget that 40,000 miles is at least $400 to $600 in value anyway, so your annual fee is already taken care of even without using much of the features.

PayAll + Limo service

Citi is having a concurrent promotion for Citi PayAll which allows you to buy miles at a really attractive price of 0.8 cents per mile. While this is open to other Citi points and miles cards, Citi Prestige cardholders get earn free limousine rides by using PayAll transactions. Cheap miles plus free limousine rides? Insane value.

Alternate promo

Instead of this offer, you can get Singsaver’s prevailing promotion for Citibank cards, but you will need to be a new-to-bank customer (i.e. no Citi cards at all, and have not cancelled any in the past 12 months).

My take is that if you don’t have an existing Citi card, you should apply for one of the other cards first as a new Citi cardholder, before getting the Citi Prestige card as your second Citi card to enjoy both offers.

Citi Prestige

Use code C04233289T

🔥 👍🏼

New or existing Citi Cardholders

Apply here with code C04233289T (if you get an error message signing up as an existing cardholder, try again as a new Citi cardholder)

Get 120,000 ThankYou points (48,000 miles) with payment of annual fee of S$535 and making minimum spend of S$800 within first 2 months. Read promo details (terms and conditions)

Until 31st October 2022

For new to Citi customers: I encourage you to apply for one of the other Citi Cards first before getting Citi Prestige. This way you enjoy both promos.

This promo works for existing Citi customers too.

Read the review here

Conclusion

If you intend to travel in the near-future, I think this card is a great addition for your travel plans. You get a chunk of miles to bolster your flights, and you can make great use of the complimentary hotel nights and lounge visits. With the pandemic situation abating, it’s quite the perfect time to get it.

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