Been Buying From Lazada Too Much? Is The New Citi Lazada Credit Card Worth It For You?
Are you a loyal follower of Lazada’s Flash Sales, scrolling through the page daily to find the things to buy?
Don’t be shy!
At the end of the day, it’s our innate nature to want to find the best deals for ourselves.
Good news for you, then, the Citi Lazada Credit Card just landed in Singapore!
TL;DR – Is The Citi Lazada Credit Card Worth It?
The most important question to ask yourself before getting this credit card: Do you shop on Lazada enough?
It probably only makes sense if you’re a loyal Lazada customer since you’ll receive 12 Reward Points for every $1 spend.
Along with the 4 times that you can make use of the $1.99 shipping rebate, which is only applicable for orders above $50.
On a non-Lazada note, you’ll actually get 5 Reward Points for every $1 spent on transport, including SimplyGo!
But, if you’re not really a Lazada fan, you’ll probably find other cards with better benefits for other categories like dining, travel and entertainment!
Plus, I don’t really understand why RedMart is only eligible for 1 Reward Point for every $1 spent since RedMart is part of Lazada…
Who Can Apply For The Citi Lazada Card?
I know, you just want to know about the perks, but we still need to go through some basics.
What if you’re not eligible? Nah, just kidding!
| Citi Lazada Visa Signature Card | |
|---|---|
| Income Requirement | $30,000 (Local or PR) |
| $42,000 (Foreigner) |
|
| Age Requirement | 21 years or older |
| Annual Fee | $192.60 (incl. GST) |
| Waived for the first year | |
| Administrative Fee for Foreign Currency Transactions | 3.0% |
| 3.25% (From 15 December 2019) |
|
Well, this card supposed to be for millennial online shoppers, so the minimum income can’t be too crazy, can it?
What Will I Get From The Citi Lazada Card?
| Card Benefits | ||
|---|---|---|
| Lazada Spend (Excludes Redmart purchases) | 12X Reward Points for every $1 spent (Valid until 29 February 2020) | Capped at 10,000 Reward Points per month |
| 10X Reward Points for every $1 spent (from 1 March 2020) |
||
| Lifestyle Spend (Dining, Travel, Entertainment and Commute) | 5X Reward Points for every $1 spent | |
| Other Qualifying Spend | 1X Reward Points for every $1 spent | No cap for Rewards Points |
| Shipping Rebates on Lazada | $1.99 shipping rebate with $50 minimum spend | Capped at 4 shipping rebates per month |
| Exclusive Offers on Lazada | ||
| Complimentary travel insurance when charging airfare to the card | ||
Citi Reward Points
As you can see, the biggest perk is getting more Reward Points on your Lazada purchases!
Though I’m a little bummed that RedMart purchases are not eligible for the 12X Reward Points…
C’mon, online grocery shopping has gained popularity over the years and may form a huge portion of one’s monthly expenses, so why not include RedMart too?
But on the bright side, you’ll be getting 5X Reward Points for your day-to-day transport, including SimplyGo!
Oh, for those of you who pay your annual fees to get more miles, chotto matte, you won’t be getting any Reward Points for your annual fee payment after the first-year waiver.
Other Citi Lazada Card Benefits
Citi Lazada cardholders will also get exclusive offers on Lazada throughout the year. Obviously right?
Purchasing with Lazada comes with shipping fees too, but don’t worry! Spend a minimum of $50 per transaction and you’ll get to use your $1.99 shipping rebates 4 times a month.
Even banks know the importance of travel insurance and the Citi Lazada credit card offers free travel insurance when you charge your airfare to the card.
Sign-Up Bonus
Good news if you’re considering to apply for this card as a new Citi cardmember!
Being a new Citi cardmember just means you aren’t holding on to any Citi credit card as the principal cardholder.
Take your time, since they are running a year-long welcome promotion.
| Citi Lazada Welcome Offer | |
|---|---|
| Spend S$1,200 within 3 months of approval | $150 Lazada Voucher |
| Promotional Period | 9 December 2019 to 31 December 2020 |
What Can I Use My Reward Points For?
Why accumulate points if you can’t use them?
| Redemption Method | Details |
|---|---|
| Pay With Points | Every 440 points offsets your purchases by $1 |
| Instant Rewards | Redeem vouchers or offset purchases instantly with participating retail merchants |
| Cash Rebates | Every 4,400 points converts into $10 Cash Rebate |
Now, don’t ask me which redemption method you should choose since it’ll really depend on your purchase.
You’ll notice that the conversion rate for Pay with Points and Cash Rebates are essentially the same, which might make you feel better about making a big purchase.
Just remember to check for any instant rewards before your transaction to see which method gives you the best conversion rate!
How Long Are My Reward Points Valid For?
Okay, this one is important!
Your Reward Points have a validity period of 36 months, but it’s based on the date your account was opened.
Yeap, you read that right, it’s not based on when you earned the Reward Points…
Let’s say you successfully opened your account on 11 December 2019, your Reward Points will be valid until 10 December 2022. Even the ones you earned on 09 December 2022!
Plan wisely, everyone!
If you’re planning to get the Citi Lazada Credit Card, remember, do your own homework and check the terms and conditions since individual spending habits are different!
Plus, make sure you cultivate a good habit of paying your bills on time!
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