**Citi Ultima Card: Luxury and Exclusivity for the Ultra-Wealthy**

If you think you’ll never come across a Citi Ultima Card in your lifetime, you’re probably right. With a minimum annual income of $500,000 or assets worth millions, this ultra-premium credit card is reserved for Citi’s ultra-high net worth clients. Unlike other credit cards, you can’t apply for the Citi Ultima Card. Instead, you have to receive an invitation to become a cardholder.

While most of us won’t have the privilege of owning this card, let’s take a closer look at the luxury, exclusivity, and benefits that the Citi Ultima Card offers to the elite few.

**Citi Ultima Card: The Basics**

The Citi Ultima Card is a super-premium credit card that targets the most affluent individuals, along with cards like the AMEX Centurion Card, UOB Reserve Card, and DBS Insignia Visa Infinite Card. It’s not just a card you can apply for; invitations to become a cardholder are extended only to a select few individuals. The card is designed to make the cardholder feel ultra-privileged and special, like joining an exclusive “Club of One.”

It’s important to note that not all the benefits and privileges of the Citi Ultima Card are publicly disclosed. These perks are so exclusive that information about them is tightly guarded. Additionally, while the latest iteration of the Citi Ultima Card comes with a host of privileges, it’s unclear if the card’s other features, such as the earn rates, remain the same. For the purposes of this article, we assume that the card’s earn rates will likely be similar to previous iterations.

**Citi Ultima Card: Eligibility**

The Citi Ultima Card is exclusively for selected Citigold Private Clients who are invited to join. Unfortunately, Citi does not disclose the precise income requirements or minimum asset values needed to receive an invitation. However, based on previous iterations of the card, it’s estimated that prospective cardholders need a minimum annual income of S$500,000 or S$2 million in assets under management (AUM) and a minimum monthly spending of S$20,000.

**Citi Ultima Card: Annual Fees**

Unlike entry-level credit cards with $0 annual fees, the Citi Ultima Card comes with a significant price tag. Cardholders can expect to pay S$4,199.04 (including 8% GST) per year for the Citi Ultima Card. Unfortunately, the annual fee is not waivable. On the bright side, supplementary cards are available for free.

**Citi Ultima Card: Earn Rates**

While the Citi Ultima Card does earn rewards points, its primary appeal lies in the exclusive privileges and luxuries it offers. That being said, let’s take a quick look at the earn rates based on the card’s previous iteration:

– 1.6 miles per S$1 local spend
– 2.0 miles per S$1 overseas spend

Compared to other entry-level miles cards, such as the HSBC TravelOne Card or the Standard Chartered Journey Credit Card, the Citi Ultima Card has the highest local miles earn rate in the market. However, its 2mpd for foreign spend is lackluster, especially considering the card’s high annual fee and income requirements. Keep in mind that the Citi Ultima Card is not known for its earn rates; its clientele is more interested in personalized service and exclusive benefits.

**Citi Ultima Card: Rewards Points Redemption**

While we’ve discussed the Citi Ultima Card’s earn rates in terms of miles, Citi actually awards ThankYou points to cardholders. The validity periods of these ThankYou points can vary depending on the specific credit card. In the case of the Citi Ultima Card, its ThankYou points are likely to never expire, similar to the Citi Prestige Card, which is another luxury credit card for Citigold Private Clients.

Additionally, Citi waives conversion fees for the Citi Ultima Card, which is expected given the card’s hefty annual fee.

**Citi Ultima Card: Benefits and Privileges**

This is where the Citi Ultima Card truly shines. The latest iteration of the card offers four categories of privilege:

1. **Ultimate Dedication**: Cardholders receive the dedicated assistance of an Ultima Lifestyle Relationship Manager, ensuring personalized service and support.
2. **Ultimate Horizons**: Cardholders gain access to exclusive lifestyle experiences worldwide, including golfing experiences at prestigious clubs like St. Andrews, access to luxury private islands across Asia and the Pacific Islands, and supercar drive experiences on racetracks around the world.
3. **Ultimate Indulgence**: The Citi Ultima Card offers exclusive dining privileges, such as priority booking at Michelin restaurants in Hong Kong and access to chef-created dinners in Singapore.
4. **Ultimate Balance**: Cardholders can enjoy curated wellness retreats, providing luxurious spa treatments and other wellness experiences.

These benefits and privileges are just a glimpse into the exclusive world of the Citi Ultima Card, as many details are not publicly disclosed. Cardholders can expect additional perks, such as exclusive tours to automotive museums, complimentary one-night stays at luxurious properties worldwide, and complimentary companion airfare with the purchase of a First or Business class ticket with participating airlines.

**Citi Ultima Card: Sign-up Promotion**

While the latest press release for the Citi Ultima Card does not mention any sign-up promotions, the previous iteration of the card offered cardholders 375,000 ThankYou points (equivalent to 150,000 miles) when they paid the annual fee each year. It’s likely that a similar promotion will be available with the latest iteration of the card. This sign-up promotion translates to paying S$4,199.04 for 150,000 miles, or approximately $28 for 1,000 miles. To put this into perspective, a return trip from Singapore to London on Singapore Airlines requires approximately 10,142 miles.

**Alternatives to the Citi Ultima Card**

If you desire the exclusive luxury offered by the Citi Ultima Card but haven’t received an invitation, there are other super-premium credit cards worth considering. These include the AMEX Centurion Card, UOB Reserve Card, DBS Insignia Visa Infinite Card, and OCBC Elite World Card. Among these options, the OCBC Elite World Card has the lowest minimum income requirement at $250,000 per year.

**Wrapping Up**

While the Citi Ultima Card may be out of reach for most of us, it presents a fascinating look into the world of luxury and exclusivity that is reserved for the ultra-wealthy. The card’s benefits and privileges offer a level of service and access that is unparalleled. If you’re fortunate enough to be invited to become a Citi Ultima Cardholder, you’ll gain access to a world of luxury private islands, supercar drive experiences, gourmet dining, and curated wellness retreats.

**FMS take on the Citi Ultima Card**

At FMS, we understand the importance of building passive income to secure financial futures. While the Citi Ultima Card may not be accessible to most individuals, we recommend our clients consider investing in dividend funds as a strategy to build passive income. For example, if a client invests $48,000 per year for 10 years at a 6% yield, the total value of their portfolio after 10 years would be approximately $731,043. This portfolio would generate an annual passive income of $43,862 at a 6% yield.

Building passive income through dividend funds offers several benefits. Firstly, it provides a consistent and reliable income stream. Secondly, it allows for compounding returns, which can significantly grow your wealth over time. Lastly, dividend funds offer a degree of stability and long-term growth potential, making them an attractive investment opportunity.

Book a call with Ben to learn how to create passive income using dividend funds. Hundreds of our clients have already started, with some making $39,600 per year. Don’t miss out on this opportunity to secure your financial future. [Book a call with Ben](https://calendly.com/passiveincomeguy/call-with-ben).


Benjamin Low
Benjamin Low

Benjamin is known as The Passive Income Guy. He has helped hundreds of people to build passive income. He is also a member of the Million Dollar Round Table, and Certified Financial Planner™ (CFP®) and Certified Private Banker (CPB).

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