Citibank Prestige Credit Card: Best Premium Overseas Card?

Citibank Prestige Credit Card: Best Premium Overseas Card?

Best Premium Overseas Credit Card with High Annual Fee

Good for

  • Frequent travellers
  • High spenders
  • Overseas spenders

Bad for

  • Consumers looking to avoid fees
  • Consumers who already have a primary card

Editor's Rating

4.0/5.0

The Citibank Prestige Card is a great option for high spenders that tend to travel frequently. For instance, the card earns a best-in-market overseas spending rewards rate of 3.60% (2 point per Rs. 100; 1 point = 4 InterMiles = Rs 1.8). The Prestige card also provides unlimited free visits to Priority Pass lounges, free hotel stays and golf perks. Furthermore, the card offers a fairly high 1.80% (1 point per Rs. 100; 1 point = 4 InterMiles = Rs 1.8) on general spending. However, the Citi Prestige card charges the highest annual fee among all of the cards in our review (Rs. 20,000). Therefore, the rewards and benefits will not outweigh the annual fee of this card for those that are not high spenders and frequent travellers.

ProsCons
  • 3.60% rewards rate on overseas spending
  • 1.80% rewards on general spending
  • Rs, 20,000 annual fee
Promotions:
  • Sign-Up Bonus / Renewal Bonus: 10,000 air miles (worth about ₹ 4,500) and vouchers worth ₹ 10,000 from Taj Group or ITC Hotels
Card Overview
Pros:
  • 3.60% rewards rate on overseas spending
  • 1.80% rewards on general spending
  • Promotions:
Cons:
  • Rs, 20,000 annual fee

What Makes Citi Prestige Card Stand Out

The Citi Prestige Card is an intriguing premium card that provides consumers with the highest overseas rate in the market at 3.60%. Alongside this, the card provides great perks. For instance, the card provides unlimited free visits to Priority Pass lounges, 1 single free night at any hotel when you book for 4 nights and golf access (listed below). In addition to the overseas rewards rate, the card earns 1.80% on general spending, which is well above the average rewards rate in India. The card's downside is that it has a very high annual fee of Rs. 20,000. As a result, this card provides the most value to individuals that spend enough to earn rewards that outweigh the card's annual fee.

CityComplimentary Golf RoundsComplimentary Coaching Lessons
Delhi NCRUnitech Golf & Country Club, Jaypee Greens, Golden Greens, ITC Classic Golf Resort, Karma LakelandsJaypee Greens, Golden Greens
BengaluruClover Greens Golf Club, Prestige GolfshireTouche Golf Academy, Golfshire Club
ChennaiMadras Gymkhana Club (Guindy)AKDR Village
HyderabadBoulder Hills Golf ClubBoulder Hills Golf Club
PuneKharghar Valley Golf Course, Poona Golf ClubPoona Golf Club
ChandigarhPanchkula Golf ClubChandigarh Golf Academy
MumbaiPremium Golf Clubs in MumbaiPremium golf clubs/driving ranges in Mumbai

How Does the Citi Prestige Credit Card Rewards Programme Work?

The Citi Prestige Card reward programme offers cardholders with rewards that can be redeemed in cashback or air miles. Cardholders earn 2 points per Rs. 100 spent on overseas spending and 1 point per Rs. 100 spent on all other spending categories. The redemption for both rates is 1 point = Rs. 1. The reward points on the card never expire.

  • 2 points per Rs. 100 spent on overseas spending
  • 1 points per Rs. 100 spent on general spending
  • Reward redemption rate (cashback): 1 point = Rs. 1
  • Reward redemption rate (miles): 1 point = 4 InterMiles
  • Points can be redeemed in cashback or Air Miles
  • Reward points never expire

Citi Prestige Credit Card's Features and Benefits:

Card Overview
  • Annual Fee: Rs. 20,000
  • Income Requirement: None listed by issuer
  • Age Requirement: None listed by issuer
Rewards Rate Details
  • 2 points per Rs. 100 spent on overseas spending
  • 1 points per Rs. 100 spent on general spending
  • Reward redemption rate: 1 point = Rs. 1
Benefits & Perks
  • Unlimited visits to Priority Pass lounges
  • 1 free room at any hotel if you book 4 nights
  • Access to golf courses and complimentary games
Promotions:
  • Sign-Up Bonus / Renewal Bonus: 10,000 air miles (worth about ₹ 4,500) and vouchers worth ₹ 10,000 from Taj Group or ITC Hotels

How Does Citi Prestige Credit Card Compare Against Other Cards?

Read our comparisons of the Citi Prestige Credit Card:

Citi Prestige Card vs. HDFC Diners Club Black Card

Consider this if you are looking for a great premium points card with travel perks

Age Requirement 21-60 (65 if self-employed)
Annual Income Requirement Rs. 2,100,000

HDFC Diners Club Black Card is a great premium option for individuals seeking excellent rewards and travel perks. First, the Black Card earns cardholders a best-in-market 3.33% rewards rate (5 points per Rs. 150; 1 point = Rs. 1 in travel rewards). This is much higher than the Prestige Cards 1.80% overall rate; however, it is lower than the 3.60% that Prestige cardholders can earn on overseas spending. Further, both of the cards offer unlimited lounge access where the Black Card offers unlimited Diners Club and the Prestige Card offers the Priority Pass as well as 1 free night at any hotel after booking 4 nights. In terms of fees, the Black Card (Rs. 10,000) charges half of the Prestige Card (Rs. 20,000) and it is waivable. In sum, the Black Card is a great premium card for all types of spending, whereas the Prestige Card is better for overseas spending.

Citi Prestige Card vs. Standard Chartered Ultimate Card

Consider this if you are looking for an excellent cashback card to use across all spending categories

Age Requirement 21-65
Annual Income Requirement None listed by issuer

The Standard Chartered Ultimate Credit Card is the best cashback card in India. For example, the Ultimate Card offers cardholders a rewards rate of 3.33% (5 points per Rs. 150, 1 point = Rs. 1) on general spending, which is a much than the rewards rate of 1.8% offered by the Citi Prestige Card; however, it is lower than the elevated 3.60% offered on overseas spending by the Prestige Card. In terms of travel perks, both cards offer the Priority Pass membership; however, with the Ultimate Card you will be asked to pay a low fee of $27 whereas, you will be given unlimited visits by the Prestige Card. The Ultimate Card also charges Rs. 5,000, a quarter of the fee by the Prestige Card (Rs. 20,000). As a result, the Ultimate Card is best for earning cashback, but we would recommend the Prestige Card for high spenders interested in overseas spending and frequent travel.

Citi Prestige Card vs. American Express Platinum Travel Card

Consider this if you are interested in a cashback card exclusively for shopping and groceries

Age Requirement 18+
Annual Income Requirement Rs. 600,000

The American Express Platinum Travel Credit Card is a travel card targeted towards high spenders who look for travel benefits. The card's perks include airport lounge access, Taj promotions and travel vouchers. However, the cardholder receives 1 domestic airport visit per quarter, which is less useful than the unlimited access to Priority Pass lounges offered by the Citi Prestige Card. Further, the Platinum Travel Card offers 0.88% (1 point per Rs. 50 spent; 1 point = ~Rs. 0.44)—much lower than the 1.8% offered by the Prestige Card on general spending and the elevated 3.6% on overseas spending. However, the Prestige Card charges a fee of 20,000, whereas the Platinum Travel card charges a much lower Rs. 5,000. Therefore, we would recommend the Platinum Travel card for those interested in travel perks and cannot afford the Prestige Cards hefty fee; however, we would recommend Prestige Card for high spenders that can afford the fee, as it offers greater rewards and benefits.

Sahmi Chowdhury

Sahmi is a Junior Research Analyst specialising in credit cards and insurance in India. He previously worked in the financial services sector at Brown Brothers Harriman and True Capital Management.