Citi Credit Cards offering 3.25% cash rebate on foreign currency spend


From now till 30 June, earn a 3.25% cash rebate on FCY spending with Citi Credit Cards. Min. spend of S$3,000, capped at S$6,000.

Citibank has launched a new targeted promotion for selected Citi Credit Cards, which offers a 3.25% cash rebate on foreign currency spend (whether in-person or online) till 30 June 2023. 

Gearing up to travel soon? You can now offset your foreign transaction fee when you spend your next holiday with Citi Credit Cards, Enrol now and make a min. of S$3,000 in combined foreign currency spend with your eligible Citi Credit Cards and receive 3.25% cash rebate.


A minimum FCY spend of S$3,000 is required, and a spending cap of S$6,000 applies. 

Unfortunately, the Citi PremierMiles Card is excluded, which leaves the Citi Rewards Card as the sole option of interest to miles chasers.

Earn 3.25% rebate on FCY spend with Citi Credit Cards

This offer is targeted, and requires registration. To see if you’re eligible, login to the Citi Mobile App and tap on “Get More” at the bottom. Scroll down and look for the banner above to register.

From 19 April to 30 June 2023, registered Citi cardholders will receive a 3.25% cash rebate on all FCY spend (both in-person or online), subject to a minimum FCY spend of S$3,000 and capped at S$6,000 throughout the entire promotion period. 

In other words, the maximum rebate that can be earned is S$195.

This offer is valid for the following cards:

  • Citi Cash Back Card
  • Citi Cash Back+ Card
  • Citi Lazada Card
  • Citi M1 Credit Card
  • Citi Rewards Card
  • Citi SMRT Credit Card

Note the exclusion of the Citi PremierMiles Card, which already has its own separate offer for 4 mpd on in-person FCY spend with a minimum spend of S$5,000. Also note that Citi is running a separate 3.25% rebate offer for the Citi Prestige Card (which has already hit its registration cap).

⚠️ It won’t work for Amaze
Amaze converts all FCY transactions into SGD, so you will not earn the rebate on Amaze transactions charged to Citi cards

For avoidance of doubt, the S$3,000 minimum spend can be combined across different cards. To illustrate:

Card Qualifying Spend 3.25% Rebate
Citi Cash Back Card S$1,000 S$32.50
Citi SMRT Card S$1,500 S$48.75
Citi Rewards Card S$2,000 S$65
  S$4,500 S$146.25

When will the cash rebate be credited?

Eligible cardholders who have fulfilled the qualifying criteria will receive their 3.25% cash rebate by 30 September 2023.

If you have spent across multiple cards, the entire cash rebate will be credited to the card with the highest FCY spend amount. 

Do note that Citibank generally doesn’t have a good track record of keeping to its fulfilment timelines, so it’s possible you might be waiting longer than this.

What spending does not qualify?

Qualifying spend for this promotion includes all FCY transactions (whether in-person or online), excluding Citi’s usual rewards exclusion categories such as:

  • Charitable donations
  • Education expenses
  • Financial institutions
  • Government transactions
  • Insurance premiums
  • Prepaid account top-ups

A full list of excluded transactions can be found here. 

Qualifying spend will be determined by transaction date based on Singapore time (GMT+8), so be careful about spending on the last day of the offer!

Terms & Conditions

The T&Cs for the FCY spend promotion can be found here.

Is the offer worth it?

I’m only going to look at the Citi Rewards Card, since it’s the only one miles chasers would be interested in.

Here’s how much it normally costs to use your Citi Rewards Card for foreign currency spending, based on the regular FCY earn rate and fee. 

  FCY Earn Rate FCY Fee CPM
Citi Rewards 4.0* 3.25% 0.81
*On online transactions (except travel) and offline shopping transactions only, otherwise 0.4 mpd

Citi Rewards Cardholders earn 4 mpd on online transactions (excluding travel) and offline shopping transactions in FCY, so you’re basically paying 0.81 cents per mile (ignoring the spread charged by Mastercard/Visa, which varies by currency but tends to be ~0.3%). 

With a 3.25% rebate, the miles essentially become free (again, ignoring the Mastercard/Visa spreads), provided you meet the S$3,000 minimum spend.

But what if your normal strategy is to pair the Citi Rewards Card with Amaze? The Citi Rewards Card will earn 4 mpd with Amaze (except on travel-related transactions), and you’ll pay an implicit FCY fee of ~1.5% due to the spread Amaze charges above Mastercard’s rates. 

You’re basically choosing between: 

  • Use Citi Rewards Card: 4 mpd on online transactions and offline shopping, with 0% fee
  • Use Amaze + Citi Rewards Card: 4 mpd on online and offline transactions, with 1.5% fee (less InstaPoint rebates of up to 1%)

If I knew I could hit the minimum spend, I’d lean towards using the Citi Rewards Card directly in order to enjoy the “free” miles (keeping in mind to spend just S$1,000 in April, May and June to avoid breaching the 4 mpd cap).

Otherwise, the Amaze + Citi Rewards Card would be a safer option. Keep in mind: this pairing earns 4 mpd on both online and offline transactions of all sorts, excluding travel-related transactions such as airline tickets and hotel bills. If you use the Citi Rewards Card directly, you’re limited to online transactions and offline shopping transactions.


Citi Credit Cardholders should check their Citi Mobile App and see if they’ve been targeted for a 3.25% cash rebate offer on foreign currency spend, available with a minimum spend of S$3,000 and capped at S$6,000.

If you’re able to spend this exclusively in the Citi Reward Card’s bonus categories, it could be a good deal indeed. 

Aaron Wong
Aaron Wong
Aaron founded The Milelion to help people travel better for less and impress chiobu. He was 50% successful.

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Annoying, Got the email for the Citi Prestige 3.25% promotion, but could not register as I am not in SIngapore rignt now – and to send an SMS to that 72484 number you need to be in Singapore – and now, this one with Citi Rewards, registration can be done through the App (all registrations should be this way), but I am not targeted for it ! Oh well, wait for the next promption then.


No consolation, as had I been in Singapore, I would have subscribed to it, the minute I received the email offer (which was before it was full).


Last edited 1 year ago by Steve

Same here. Got the email when I landed overseas 🙁


It is really a stupid practice by Citibank. They are offering a promotion that, for the most part (online transactions aside) you need to be out of Singapore to take advantage of, yet you need to be in Singapore to register. It is bizzaire.


Try the mobile app . You should be able to register your user id and password with your credit card .
once in app, select the “Get more “ tab at the bottom. You should see this promo and you can enroll via this method . Good luck

Tom Platz

Aside from use of PayAll and a slightly better everyday earn rate, Citi Prestige is a pretty weak card. Booking anywhere for the 4th night offer is invariably more expensive anyway as the rates are always worse and one doesn’t benefit from booking direct benefits. I’d really like to get rid of it, but I have an instalment plan connected to it and they won’t allow me to change card and then cancel the Prestige. Computer says no.


If you’re spending a big amt like $3000 in foreign currency in 1 transaction, does it mean it wont be wise to use CRMC anymore as you will no longer be rewarded past $1000 SGD per statement month?


The TnCs mentions exclusion from qualifying spend:- xi. Transit-related transactions

does anyone know what this means?