MyCard Has No Sign-Up Bonuses: What Happened to Citi Credit Cards

Published on 12/1/2025

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MyCard Has No Sign-Up Bonuses: What Happened to Citi Credit Cards

MyCard, the new brand replacing Citi credit cards in Australia, has launched with no sign-up bonus offers. New applications aren't fully available yet, and there's no indication welcome bonuses will return.

This matters because Citi was historically one of the more competitive issuers for bonus points. Cards like the Citi Premier and Citi Prestige regularly offered 100,000+ Qantas or Velocity points to new applicants who met spending requirements.

Under MyCard, that's gone.

What's Available Now

MyCard offers 7 credit cards, but the website notes new applications are "coming soon." For existing Citi cardholders, balances and points transferred automatically on November 24, 2025.

The cards include ongoing earn rates and some benefits (mobile phone insurance, purchase protection), but no welcome offers to attract new customers.

Transfer Partners Also Reduced

Beyond the missing bonuses, MyCard has fewer redemption options than Citi did. From November 16, 2025:

Removed:

Singapore Airlines KrisFlyer
Cathay Pacific Asia Miles
Qatar Airways Privilege Club
Etihad Guest

Remaining:

Velocity Frequent Flyer
Flybuys

For cardholders who valued transferring points to international airlines, this limits flexibility significantly.

Other Benefits Cut

NAB has progressively removed perks that former Citi customers had:

International transaction fees: 0% → 3.5%
Foreign ATM fees: $0 → $5
Debit overdraft rate: 0% → 20% p.a.

The Background

NAB acquired Citibank's Australian consumer business in June 2022 for A$1.2 billion. The deal included Citi's credit card portfolio—the fifth largest in Australia.

The transition to MyCard on November 24, 2025 completed the integration. NAB remains the credit provider and issuer; only the branding changed.

Timeline:

June 2022: NAB acquires Citi's consumer business
February 2024: Deposits and loans migrate to NAB branding
November 2025: Credit cards become MyCard

What This Means for You

If you're an existing cardholder: Your points and balances transferred automatically. You can still earn and redeem through Velocity or Flybuys.

If you're looking for a new card: MyCard currently offers no reason to apply over competitors that have active sign-up bonuses. Check the rest of this site for cards with welcome offers.

Sources

Last updated: December 2025