Just as the name suggests, Citi Prestige MasterCard Card is a luxury credit card for those who can afford it. Although Citi Prestige MasterCard Credit Card comes with a high price tag, it is an excellent high-end travel rewards card that provides some awesome benefits worthy of the word prestige. We recommend this card especially for long-time banking customers of Citibank who have earned their Citigold status.
Pros of Citi Prestige Card
- 1.3 miles for every S$1 spent locally (2 miles/S$1 overseas), with the ability to boost your reward miles by up to 30% with a banking account with Citi
- Annual bonus of up to 25,000 miles when you pay the annual fee
- Various travel perks like SPG Gold Status, special benefits at Four Seasons and Ritz Carlton around the world, unlimited complimentary 4th night at any hotel and unlimited Airport Lounge VIP Access
- Other luxury perks like access to golf courses and discounts on yachts
Cons of Citi Prestige Card
- High annual fee of S$535 & annual income requirement of S$120,000
- Not as good as other luxury cards unless you are a Citigold customer
What makes the Citi Prestige MasterCard Credit Card stand out
First of all, this card is for only those who can afford it. Citi Prestige MasterCard Credit Card requires an annual income of S$120,000 to be eligible for application. Then, there is the S$535 annual fee, though Citibank helps to offset some of it with welcome awards of 25,000 miles (or a tablet worth S$548 or one night staycation at Sofitel Singapore Sentosa Resort). Given this high cost of ownership, we think Citi Prestige MasterCard Card makes sense for people who plan to spend in excess of S$3,000 per month on the card.
The first benefit you get for this high price tag is 2 miles for every $1 you spend overseas and $1.3 miles for every S$1 you spend locally. While this is one of the best flat rates available in Singapore, Citi Prestige MasterCard Credit Card does provide a bit lower mile awards than other luxury cards like Standard Chartered Visa Infinite Card. However, if you are already a banking customer of Citigroup, Citi Prestige MasterCard Credit Card will award you for your loyalty & increase your award rate accordingly. If you qualify as a Citigold customer, you can boost your award by up to 30%. This means that you could earn 1.5-1.7 miles for every S$1 you spend locally and 2.3-2.6 miles for every S$1 you spend overseas, just about highest flat rate mile award in the market.
|Tenure||0 - 5 years||6 - 10 years||> 10 years|
|Citigold / Citigold Private Client (at least S$250,000 with Citi)||15%||20%||30%|
|Non Citigold/ Citigold Private Client||5%||10%||15%|
According to our conservative analysis, we think you can more than make up for the high annual fee by spending more than S$3,000 monthly on your Citi Prestige MasterCard Credit Card. Even if you were redeeming all your miles for economy flights (about 1 cent per mile), you earn your annual fee back by spending S$36,000 per year (S$3,000 a month) on your local needs (1.5 miles per S$1 if you are Citigold member). If you spend more money abroad or if you redeem for business seats (about 3 to 6 cents per mile), then you will effectively have earned thousands of dollars.
Citi Prestige MasterCard Credit Card is all about rewarding loyalty. Besides aforementioned mile reward boost of 15-30%, you also receive 25,000 miles as a welcome gift as well as additional 25,000 miles annual renewal fee. Given that miles are worth somewhere between S$0.01 and S$0.08, paying S$0.02 per mile (S$535/25,000) is a great deal for anyone who can afford the money.
The rewards you earn using this card are called Citi Miles or Citi Dollars – they are among the best rewards available. 1 Citi miles is equivalent to 2.5 Citi Dollars. What makes the miles so valuable is the ability for Citi Premier Miles Card holders to transfer their miles to over 60 airlines and 8,000 hotel properties, including Singapore Airlines (KrifsFlyer, Star Alliance), Korean Air (SkyMiles, Skyteam) and Hilton Hotels (HHonors points). These credit cards perform the best for travelers who aren’t particularly loyal to one airline or hotel brand, and prefer to shop around for the best prices. This feature is what makes the Citi Premier Miles Card excellent for travelers who may have their loyalty spread across an array of different brands. You can pick and choose where to allocate them, depending on your vacation and trip needs.
And what are luxury cards without their luxurious perks? Other amazing perks include: Unlimited airport lounge VIP access, Unlimited complimentary night at any hotel after minimum of 4 consecutive night booking, a free and immediate SPG Gold status, special benefits and amenities at all Ritz-Carlton and Four Seasons hotels around the world, 8 complimentary one-way airport limousine transfers a year, and 10 Citi Dollars for S$1 spent on shopping and leisure at Club 21 boutiques (1 Citi dollar = 2 Citi miles). Citi Prestige MasterCard Credit Card also comes with Citi’s exclusive benefits like 10% rebate on petrol at Shell, and up to 10% rebate at over 700 merchant outlets including Burger King, Cold Storage and Starbucks.
Citi Prestige MasterCard Credit Card's Features and Benefits:
- Annual fee: S$535
- APR: 25%
- Annual income requirement: S$120,000 for locals and foreigners
- Earn 1.3 miles for S$1 spent locally
- Earn 2 miles for S$1 spent overseas
- Extra boost to your miles by up to 30% depending on your relationship with Citi
- Welcome gift of 25,000 miles or Tablet (worth S$548) or One night staycation at Sofitel SIngapore Sentosa Resort and Spa (worth up to S$838)
- Annual 25,000 miles for renewal bonus when you pay the annual fee
- Unlimited airport lounge VIP access
- Unlimited complimentary night at any hotel after minimum of 4 consecutive night booking
- Automatic and immediate SPG Gold status
- Special benefits and amenities at all Ritz-Carlton and Four Seasons hotels globally, like complimentary breakfasts, room upgrades, dining and spa credits, and welcome amenities
- 8 complimentary one-way airport limousine transfers eight every year
- 10 Citi Dollars (or 5 miles) for every dollar you spend at Club 21 boutiques Style Services
- Up to 10% rebate at over 700 merchant outlets including Burger King, Cold Storage, Shell and Starbucks
- Flexible convertibility to over 60 airlines & 8,000 hotel properties: 1 Citi Mile = 1 Mile on KrisFlyer, Asia Miles, Royal Orchid Plus, SkyMiles, Executive Club, Enrich, Infinity MileageLands, Garuda, Etihad, Qatar Airways, Qantas, Flying Blue; 1 Citi Mile = 1 IHG Rewards Club point; 1 Citi Mile = 1.5 Hilton HHonors points
- 15x Citi dollars, 6x Citi miles or 5% cash back at Expedia (31 July 2016)
How Does Citi Prestige MasterCard Credit Card Compare With Other Cards?
Compare Citi Prestige card with other cards in the market and learn how they are different. We assess this card's strengths and weaknesses against those of similar cards to help you evaluate which card is best for you.
Citi Prestige MasterCard vs Citi PremierMiles Visa Card
Citi PremierMiles Visa Card is essentially a more mass-market version of Citi Prestige MasterCard Card. While Citi PremierMiles Visa Card charges S$192.6 of annual fee, Citi Prestige MasterCard Card costs S$535 per year to use. Because of this difference, Citi Prestige MasterCard Card awards you 1.3 miles for your local spend vs 1.2 miles awarded by Citi PremierMiles Visa Card. Citi PremierMiles also lacks perks like SPG Gold Status.
Other things are more or less the same. Both cards reward you 10x miles for every dollar spent on travel and 2 miles for every dollar spent overseas. Citi PremierMiles Visa Card has a welcome bonus of 30,000 miles, while Citi Prestige MasterCard Card is giving out 25,000 miles of welcome award. So if you are looking for a decent travel card that doesn’t require a lot of spending and you don’t care much for perks, Citi PremierMiles Visa Card might be a better choice for you. If you like to travel in style and you have the budget to support a high level of expense, we think Citi Prestige MaterCard Card could be a better fit.
Citi Prestige MasterCard vs UOB PRVI Miles American Express Card
UOB PRVI Miles American Express Card is a great alternative for any luxury travel cards for those of you who care more about annual fee and earning miles than luxurious perks like free lounge access or flexible travel benefits. UOB PRVI Miles American Express Card provides top of the class mile rewards comparable to other luxury cards at less than half the cost of S$256.8 annual fee (waived for 1st year). Its travel mile award is actually better than other luxury cards at 6 miles per S$1 spent on travel booking. This card also provides global perks through American Express Selects.
The downside of this card, though, is that its miles expire every 2 years, whereas Citi Prestige MasterCard Credit Card’s miles never expire. Also, while Citi Prestige MasterCard Credit Card and Standard Chartered Visa Infinite Card provide a gold status for some of the biggest hotel chains in the world (SPG and HHilton memberships), UOB PRVI Miles Card lags on this front, though you do receive some very limited hotel benefits. Lastly, Citi Prestige MasterCard Credit Card definitely has a richer bonus loyalty program that awards 25,000 miles every time you pay your annual fee to renew, as opposed to UOB PRVI Miles Card that requires you to spend S$50,000 a year (over S$4,000 a month) to earn bonus 20,000 miles, a hefty budget for most people.
If you don’t mind the annual fee, Citi Prestige MasterCard Credit Card could provide a faster way to rack up your miles. If you travel very frequently and would rather save on annual fee than enjoy luxurious but unnecessary perks, UOB PRVI Miles Card could be a better choice than Citi Prestige MasterCard Card.
Citi Prestige MasterCard vs Standard Chartered Visa Infinite
Standard Chartered Visa Infinite Credit Card is another luxury travel cards we have reviewed with its own set of luxurious benefits. First of all, your choice should depend on who you bank with. If you bank with Citi, you might find it more beneficial to use Citi Prestige MasterCard Card, and vice versa. Otherwise, the main difference between the two cards is that Standard Chartered Visa Infinite Credit Card awards you 1.4 miles for your local spend and 3 miles your overseas spend, higher than what Citi Prestige MasterCard Card’s 1.3 and 2 miles, respectively. While two cards seem to have similar annual fees (S$535 for Citi Prestige MasterCard Credit Card, S$588.5 for SC Visa Infinite Credit Card), the Citi Prestige MasterCard Credit Card is a slightly cheaper option.
Given this, we think Standard Chartered Visa Infinite Credit Card suits frequent business travelers more so than Citi Prestige Card. For example, miles used for short haul to long haul business class tickets are valued somewhere around S$0.03 to S$0.06. If you spend S$5,000-S$10,000 overseas per year, you can more than make up for the difference in annual fee difference. Otherwise, Citi Prestige MasterCard Card could be more suitable for a casual but affluent traveler.
Citi Prestige MasterCard vs OCBC Voyage Card
OCBC Voyage Card is the latest addition to the luxury travel card market. OCBC Voyage Card's annual fee is actually the lowest in the "luxury" card market at S$488 vs other cards charging easily more than S$500.. One of the biggest differences between the two cards, in our opinion, is the mile reward focused on travel vs. dining. OCBC Voyage Card provides a much easier way of redeeming miles via its anytime, anywhere, and any flight redemption program. Most mile award programs have specific flights blacked out and require you to book in weeks or months in advance. We think this is a key feature that is extremely valuable for young professionals who may not have visibility into their schedule weeks in advance. If you have unpredictable schedules and want to enjoy sporadic trips abroad, OCBC Voyage may be the best card in the market.
Also, OCBC Voyage awards 2.3 miles for S$1 spent in local dining and S$1 spent overseas. So if your expense is concentrated around dining out, OCBC Voyage can earn miles faster for you than Citi Prestige MasterCard Card will. However, if you are looking for a more versatile and well-rounded luxury travel card to use on all your expenses, Citi Prestige MasterCard Card could be a better fit for you since OCBC Voyage only gives you 1 mile for expenses outside of local dining, very low level compared to other luxury cards’ 1.2-1.4 miles per S$1 spent locally.
Citi Prestige MasterCard vs HSBC Infinite
HSBC Infinite Visa Card is actually one of the best travel cards in Singapore. You can earn up to 1.5 miles for $S1 of local expense, up to 2.5 miles for overseas expense, a long list of luxurious perks and even a 35,000-miles welcome gift for new customers. With luxury perks on par with those offered by other cards, it costs S$650 a year in annual fees, or S$488 for Citi Premier customers (if you are a Citi Premier customer, this is a great deal). However, this card is given out on an invitation basis only. If you do get invited though, we highly recommend that you sign up.
Citi Prestige MasterCard vs American Express Platinum
American Express Platinum card is a very basic card from American Express. Though the annual fee of S$321 is waived for the first year, there aren’t many extraordinary benefits associated with the card. Yes, you do get access to a cornucopia of American Express perks like discounts at restaurants and travel bookings, but similar perks are often offered by other cards as well. For those of you who can afford higher annual fees, Citi Prestige will definitely give you more bang for your buck. For those of you who want lower fees, there are better cards that will get you far better travel benefits like American Express Singapore Airlines KrisFlyer Credit Card or HSBC Revolution Credit Card for annual fees under S$200 coupled with generous waivers.
*ValueChampion calculates the dollar value of rewards based on S$2,000 of monthly spending. We sum the value of points, miles and cashback in dollar terms and subtract the annual fee over a 24-month period. The estimates here are ValueChampion's alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. For Standard Chartered Visa Infinite and OCBC Voyage, S$4,000 of monthly spend is assumed.