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Thursday, April 28, 2011

Citibank Premier Miles - It's A Visa Signature

An article by My Credit Cards: http://creditcardsmalaysia.blogspot.com 





Yesterday I received my Citibank Platinum Visa and also my wife's Citibank PremierMiles. Well, I was pleasantly  surprised that the Citibank Premier Miles credit card has the Visa Signature logo on it. I was not even aware that the Premier Miles was a Visa Signature as Citibank advertisements did not emphasize on this fact. With the Citibank PremierMiles Visa Signature, we now have 4 Visa Signature credit cards in Malaysia i.e. CIMB Bank, EON Bank, HSBC and Citibank.

Well, my Citibank Platinum Visa came inside a white envelope whereas my wife's Citibank Premier Miles credit card came with a classy looking welcome "kit". Nothing interesting inside the box except some brochures printed in good quality paper. But then again, the presentation makes the Citibank PremierMiles Visa Signature more like a premier credit card. Here are some photos of the welcome pack.



And here is a photo of both the credit cards side by side. The Citibank Platinum letter does look nicer with the Metallic coloured wording. 


And below is a photo of my Citibank Platinum credit card, I must say that I prefer the design of my wife's Citibank Premier Miles over my Citibank Platinum. The Citibank Platinum looks like a classic card, hahaha.


So what are the difference in benefits between the Citibank Platinum versus the PremierMiles Visa Signature? Below is a brief comparison between the Platinum and PremierMiles Visa Signature. 
  • Both the Citibank Platinum and PremierMiles have the same annual fee at RM600. 
  • The Citibank Platinum earns you reward points where you can redeem for stuff or vouchers whereas the Citibank Premier Miles Visa Signature earns you PremierMiles. 1 PremierMile = 1 Air Mile or 0.73 Enrich Mile. Click here to read how to redeem the PremierMiles.
  • The Citibank Platinum credit card grants you 12 free access to KLIA and LCCT Plaza Premium Lounge and so does the Citibank PremierMiles Visa Signature. But, on top of that, the Citibank PremierMiles also gives you 2 free access per year to airport lounges worldwide with Priority Pass membership. 
  • The Citibank PremierMiles gives you 10% and 15% off return published fare for Malaysia Airline Economy class SmartSavers and SmartFlex respectively. For business Class, you'll get 80% and 40% off the second and third ticket respectively. The Citibank Platinum card don't have this benefits.
  • Both the Citibank Platinum and PremierMiles Visa Signature comes with the same Travel Accident Insurance that covers you up to RM1,700,000.00, Personal Accident Insurance up to RM300,000.00, Overseas Medical Expenses Insurance up to RM50,000.00, Wallet reimbursement up to RM500 due to snatch thief or robbery and other insurances relating to travel such as missed flight, lost luggage and flight delay. 
  • Citibank Platinum credit card comes gives free protection for purchases covered up to 30 days if the items are lost, stolen or damaged. I can't seem to find this benefit being offered to Citibank PremierMiles in Citibank's website or in the PremierMiles welcome pack, so call Citibank Customer Service if you ae interested in this benefit.
  • The Citibank Platinum Credit Cards earns you 5X Reward Points (maximum up to RM3,000 spent) at Isetan, Jusco, Marks&Spencer, Metrojaya, Parkson, Robinsons, Tangs, Carrefour, Cold Storage, Everise, Giant, Servay and Tesco. The PremierMiles don't get this benefit. 
  • Both cards don't have TOLL Free Customer Service dedicated line :(

Both credit cards enjoy 1st year FREE annual fee and the Citibank officer told me that the GST will also be absorbed as long as we use the card 3 times within 60 days. Like I said earlier, I prefer the Citibank PremierMiles Visa Signature card design over the Platinum. However, the Citibank Platinum annual fee is FREE for life as long as I maintain my CitiGold Account. Reason I asked my wife to get the PremierMiles is simply because of the 2 free entry to airport lounges worldwide with the Priority Pass. She doesn't need the KLIA and LCCT Plaza Premium Lounge access as she already has her own Alliance Platinum MasterCard and  Alliance Bank Privilege Premium Debit Card. For me, my EON Bank Visa Signature Priority Pass membership grants me 3 access per year to airport lounges worldwide. 

The Citibank PremierMiles Visa Signature is not entitled to free annual fees even if you got a CitiGold Banking Account. Therefore, come next year, I guess my wife will have to give up her Citibank PremierMiles Visa Signature card. 

As for credit limit for my Citibank Platinum, well I had reached the maximum credit limit on my old Citibank Clear Card which I have terminated recently, and I am pleased that they raised my credit limit for the Platinum card. As for my wife's Citibank PremierMiles Visa Signature credit limit, I can tell you that I was surprised that Citibank gave her a credit limit higher than her Alliance Bank Platinum and Maybankard 2 Cards considering that both her existing cards are less than a year old and that Citibank system states her employment as a Domestic Engineer. 

Recently, I noted that many places are offering discount with Citibank credit cards in our Malaysia malls in KL. Early this month, Citibank cards get extra 5% discount at Robinsons Gardens Mall Mid Valley. Same thing in Singapore, many merchants were offering discount with Citibank credit cards the last time I was there. Hopefully Citibank will continue to give me a reason to maintain my CitiGold Account when my card anniversary arrives next year.


[Update January 2012 - I dislike my Citibank Platinum Credit Card, so I wanted to cancel it but Citibank offer me a new card with new number :) Click here to read my article titled My New Citibank Platinum Credit Card]

[Update March 2012 - Click here for latest Citibank Credit Card Promotions 2012 published and updated frequently at my main blog GenX GenY GenZ: http://generationsxyz.blogspot.com]

[Update March 2012 - My wife's Citibank PremierMiles credit card Annual Fee is due next month. She hardly used it except to get free tickets at TGV and Basking Robbins in 2011 to enjoy 10% discount. Anyway, she called Citibank today ( 22nd March 2012 ) and requested for this year's annual fee to be waived and the Citibank Customer Service representative was happy to waive it. Thumbs ups to Citibank].


OTHER RELATED POSTS - All links updated in 2012



Click here to read about more about the HSBC Premier World MasterCard and Visa Signature.  The HSBC Visa Signature do not grant you a single free access to KLIA Plaza Premium Lounge. 

Click here to read more about Citibank Platinum Cashback Credit Card. In this article, I did compare the Citibank Platinum Cash Back versus Maybankard 2 American Express card. 

Click here to read my article - How I Benefited with My Credit Cards for My Macau Trip. My wife  entered Macau Airport Lounge with the Priority Pass card issued with her Citibank PremierMiles credit card. In this article I also posted photos of the airport lounge in Macau and LCCT Plaza PRemium Lounge. 

15 comments:

  1. I actually plan to upgrade current Cash Back Platinum to this card if they willing to waive GST this year..if not, will re-apply after cancelled the former card and enter as a new applicant. :)

    ReplyDelete
  2. What happen if you already have Priority Pass (from EON bank)? Any idea if they would just add it up or consider as new application?

    ReplyDelete
  3. AmeZac, I have no clues as to if you'll be issued a new Priority Pass membership card or as you said, add up to your existing card. Email to Priority Pass and ask them and please do report back here. Thanks for reading my article and commenting here.

    ReplyDelete
  4. Interesting. Maybe I will email them after I receive my Priority Pass card.

    I'm a card collector. My target would be to have World MasterCard and Visa Infinite but I guess I have to stick to Visa Signatures for now since I'm only 24yo (not sure why this also a factor when I asked if salary requirement isn't met) and annual salary a bit short than the requirement. I tried before applying. Hahaha.

    PS: Could you delete the earlier post. I accidentally logged in under wrong account. Thx.

    ReplyDelete
  5. Hi, what is the difference between Visa Signature and Visa Infinite?
    Is Citibank Premier Miles a Platinum Card?
    Which is more prestigious: Citibank Platinum Card or Citibank Premier Miles Card?
    Thanks.

    ReplyDelete
  6. Adi Afzal Ahmad, both the Visa Signature and Visa Infinite cards are made of same cheap plastic, haha.

    Generally, you need to have higher income to qualify for the Visa Infinite as compared to Visa Signature.

    As mentioned above in my article, the Citibank PremierMiles is a Visa Signature.

    As far as I am concerned, both Citibank Platinum and PremierMiles are of same ranking because the annual income requirement is the same and so are the annual fees.

    The only really prestigious cards in Malaysia are CIMB Enrich World MasterCard, Maybank World MasterCard (the one with access to Golden Lounge), RHB Visa Infinite and American Express Platinum Charge Card.

    All other credit cards only show that we need credit and don't have cash or kedekut to pay annual fees, haha

    ReplyDelete
  7. GX, lol. Thanks.
    The reason why I'm asking is that, today, I suddenly received the Citibank PremierMiles Signature Card. At the moment, I'm using the Platinum Card. So, I'm not really sure whether I should activate the PremierMiles Card Signature Card and, thus, de-activate the Platinum Card.
    *My income doesn't meet the min requirement of the Platinum Card lor so don't want la to lose the syok-sendiri feeling of having a Platinum Card :p

    ReplyDelete
  8. Adi Afzal Ahmad, if you read my post above, the Citibank PremierMiles earn you AirMiles instead of points. So if you are a frequent flyer, than the PremierMiles card would be beneficial to you. But to get free airtickets, you need to spend a lot.

    Having said that, if the PremierMiles sent to you comes with first year annual fee waived, and you get RM50 cash back to offset GST with 3 usage within 60 days AND you think you be going overseas and want to go to airport lounge, then the PremierMiles card may be of some use since it comes with two free Priority Pass Membership. Then cancel the card next year and save on annual fee.

    ReplyDelete
  9. Thanks GX. I don't use credit card a lot. But I do travel from time to time so I feel that I will gain more from using the PremierMiles rather than the Platinum card. Having said that, it appears to me, if one is an affluent person (such as yourself), then he/she can really take full advantage from using credit cards. *sigh* Still a long way to go for yours truly. :p

    ReplyDelete
  10. AAA, you are mistaken, I am not an affluent person because if I was, I would be holding CIMB Enrich WMC, RHB Visa Infinite and AMEX Plat Charge Card. And at the rate I am spending, I'll be in the shit hole and a slave to the banks in no time considering that I no longer have a monthly salary. No person in their right mind would want to collect cards. Like in your case, you were deciding to have either the PremierMiles or Platinum but not both. So you are a smart person whereas I am crazy into credit cards, haha

    On a final note, do look into getting the Maybankard 2 Cards where at least you get some cash back for petrol. Nowadays, I used the MBB 2 Amex more than any other card.

    ReplyDelete
  11. GX, I'm sure you're doing fine.

    On some websites, I found some people saying that VISA Signature doesn't report a person's usage of the credit card to the Credit Bureau so it might hurt our credit report which will affect us later on when we want to take loans or buy houses etc.

    Below is an example of the issue. What do you think about it?

    "While these added benefits are a nice touch, there is one downside many people have voiced a concern over and that is the “no pre-set spending limit” part. Why? Because a portion of your credit score is based on what is known as credit utilization (or in other words, what percent of your available credit you are using). Since FICO’s scoring algorithm is secret no one knows the perfect utilization number to have, but many personal finance experts claim that it’s not a good idea to use more than 30% of your limit on any account. But how does that formula work with the Visa Signature, since there is no pre-set limit?

    Again, no one knows the exact answer since the formula is secret, but what people can see are the numbers on their credit report. With a normal card (like a Visa Platinum level) your credit limit is shown. However with Signature cards, many allege that either no limit is shown – or – whatever month they had the highest balance is shown as their credit limit. If this is the case, as you can guess, it might cause problems in the calculation of that important credit utilization number."

    ReplyDelete
  12. AAA, I blur and got no idea what you commented. All my credit cards including CIMB Visa Infinite and EON Bank Visa Signature do have credit limit and so does my wife' PremierMiles Visa Signature.

    More important in Malaysia is that you pay your CC bills on time prior to Due Date so that our CCRIS report reflects it. And from what I understand, which is very little, having many credit cards with high credit limit may also affect our bank loan application, but this can be easily resolved by requesting reduction in out credit limit.

    ReplyDelete
  13. Haha... Thanks GX. Anyhow, I got those from US-based websites. Here are the links:

    http://www.accumulatingmoney.com/is-visa-signature-better-than-platinum/

    http://www.accumulatingmoney.com/offer-to-switch-citi-dividend-to-world-mastercard/

    I hope you don't mind taking the time to read them especially the comments on the second link.

    I was just afraid that switching to Signature might hurt my CCRIS report. But perhaps Citibank does thing differently in Malaysia?
    :)

    ReplyDelete
  14. Thanks for the review of the card. I have been using the Citibank Premier miles card for the last 2 months and one of the advantage I find is that you can book hotel rooms at a cheaper rates than other online website via www.hotelclub.com/premier miles. Also, the charge is in Malaysia Ringgit meaning that you will not pay more due to currency exchange and also 1% service charge for overseas transaction.
    Since you have so much experience with credit card, do you think it is easy to ask for annual fees waiver for this card from citibank?

    ReplyDelete
  15. ykwc42002, from what I gather, Citibank have been waiving some of their Plat Cardholders' annual fee but I have yet to come across hearing anyone getting Premier Miles Card annual fee waive since it is new. So time will tell. My wife got the Premier Mile basically for the Priority Pass only, and if they not willing to waive her annual fee next year, I'll just terminate it since the annual fee can pay for more than 2 access to airport lounge.

    ReplyDelete

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