Citibank has launched a new targeted offer for foreign currency (FCY) spending, which offers cardholders a S$288 cash rebate when they spend at least S$6,888 in FCY over the next two months.
This rebate basically offsets Citi’s 3.25% FCY transaction fee — and then some — allowing you to earn “free miles” on overseas spending.
Citi Credit Cards FCY spending promotion
Citi Credit Card customers will receive a S$288 cash rebate when they cumulatively spend at least S$6,888 on FCY transactions from 1 October to 30 November 2026.
This was first reported in the Citi Prestige Telegram group, but is available for all Citi Credit Cards except the Citi Ultima and Citi USD Card. The minimum spend can be across one or more eligible Citi Cards, so you don’t have to spend the entire S$6,888 on a single card if you don’t want to.
However, the offer is by invitation only, and registration is required. You can check if you were targeted via the Citi Mobile app (Login > For You > Get More).
Once enrolment is completed, all FCY spending from 1 October 2026 onwards will be taken into account, regardless of the actual date of enrolment.
Is it worth it?
Citi Cards have a 3.25% FCY transaction fee, which means that you’d have to spend at least S$6,672 (before the fee) to meet the S$6,888 minimum spend (S$6,672 + S$216 FCY fee).
So a S$288 cash rebate more than offsets the FCY fee, allowing you to earn free miles on your overseas spending. Here’s a recap of the FCY earn rates for the three Citi Cards which are of most interest to miles chasers.
| Card | FCY Earn Rate | Remarks |
 Citi Prestige CardApply |
2 mpd | No cap |
 Citi PremierMiles CardApply |
2.2 mpd | No cap |
 Citi Rewards CardApply |
4 mpd | For in-person shopping or online spend, capped at S$1K per s. month |
Since the spending period covers two months, the ideal strategy would be to spend S$2,000 on the Citi Rewards Card (or even S$3,000, if you have three statement periods spanning the two calendar months), and then the rest on a Citi PremierMiles or Citi Prestige Card.
For example, if my statement month runs from the 15th to the 14th, then I could hit the S$6,888 spend like this:
|
|
|
| Period | Citi Rewards | Citi PremierMiles |
| 1-14 Oct 2026 | S$1,000 4 mpd |
– |
| 15 Oct to 14 Nov 2026 | S$1,000 4 mpd |
– |
| 15-30 Nov 2026 | S$1,000 4 mpd |
S$3,888 2.2 mpd |
| Total Miles | 12,000 miles | 8,553 miles |
That’s a total of 20,553 miles, with a S$288 cash rebate that more than offsets the S$216 FCY fee.
Of course, it might not be so simple to spend S$1,000 in FCY on the Citi Rewards Card each month, since the 4 mpd rate only applies to online transactions, or offline transactions at department stores or shops selling bags, shoes and clothes.
What counts as qualifying spend?
Qualifying spend is defined as any online or offline transaction charged in FCY, excluding the transactions in point 1(f) of the T&Cs.
The key exclusions to know about are:
- Charitable donations
- Education
- Government services
- Insurance premiums
- Prepaid account top-ups
- Utility bills
Principal and supplementary cardholder transactions will be combined for the purposes of calculating qualifying spend.
The date of qualifying spend will be determined by the transaction date based on Singapore time (GMT+8). Do keep this in mind, especially if you plan to spend on the last day (30 November) of the promotion period.
When will the gift be credited?
If you meet the minimum qualifying spend, the S$288 cash rebate will be credited by 31 March 2027.
Terms & Conditions
The T&Cs for this promotion can be found here.
Conclusion
Citi has launched a new targeted offer that awards a S$288 cash rebate to cardholders who register and spend at least S$6,888 in FCY between 1 October and 30 November 2026.
The spending period starts tomorrow, but you can already register via the Citi Mobile app, if you were targeted.
The cash rebate will entirely offset the FCY fees incurred on the qualifying spend, allowing you to earn some free miles on your travels.
