Citibank Credit Cards Migration to Axis Bank Credit Cards

Video: Citibank Credit Cards Transition to Axis Bank Credit Cards

Citi Credit Cards Transition to Axis Bank |Citi Bank to Axis Bank Credit Card Migration #paisabazaar

Note: Details mentioned in the video have been sourced from the issuer’s website as of June 2024. For updated information, refer to this page.

This transition comes with the fewest revisions in comparison to other cards. The super-premium Citi Prestige credit card comes with a new face, Axis Olympus, with almost similar features, targeting the needs of high-income groups. The card continues to justify the high annual fee of Rs. 20,000, with benefits scattered across multiple categories. Even with a very basic reward-earnings structure, it offers a good reward rate due to the high redemption value of 1:4 against travel partners. In addition to this feature, the card comes with some additional features, like movie and dining benefits.

The added revisions are very similar to what was removed from Axis Magnus. Thus, this is probably a positive outbreak for the issuer after the devaluation of some premium cards.

The card is a good choice for frequent travelers expecting premium benefits on their credit card. That way, it competes with cards like HDFC Infinia and ICICI Emeralde to enter the list of the best premium cards in India. But the card comes with a different reward structure involving a low earn rate (up to 2 points per Rs. 100) and a high redemption value (1:4). To maximize benefits, users will have to ensure they put maximum spend on the card to earn as many rewards as possible and utilize it for travel bookings.

Axis Horizon, migrated from Citi PremierMiles, comes with a low reward earning rate, reduced from 10% to 5%. But compensates this very well with a higher redemption ratio of 1:1 in comparison to 2:1 offered earlier. Some revisions on the card are as follows:

The Axis Horizon credit card has joined the small list of airline-agnostic credit cards in India, along with the Axis Atlas and SBI Miles Elite. In comparison to these cards, Axis Horizon comes with a lower fee. However, the card offers a comparatively lower redemption value than what is offered on  Axis Atlas (1:2). The card can be a good choice for frequent travelers who do not have a preferred airline or hotel brand and want to earn decent value back on travel spends at a reasonable fee.

The Axis Bank Rewards credit card excels as an upgraded version of its Citi counterpart. Even with a low reward rate, the Axis variant offers a higher value back due to twice the reward earning. Users also get extended benefits on dining and movies. That way, the Axis Rewards credit card justifies the upgrade in the right sense. It comes with revisions, as follows:

The card turns out to be a suitable option for frequent shoppers looking for inclined benefits on their apparel and department store shopping, along with benefits across other everyday categories like online food delivery, lounge access, etc. While most of the good cards in the rewards category belong to the semi-premium and entry-level card ranges, this card strikes the right balance as a mid-range card by extending its arm around multiple categories and justifying the fee charged. That way, it implies its name in the list of the best rewards credit cards in India.

With this transition, the rewarding currency on the card has been revised from Turbo points to Edge miles. In comparison to the Citi variant, which offers just a 2.7% reward return, the new IndianOil Axis Bank Premium Card offers a 4% reward return.

The card overpowers not just the Citi variant but also competes with other fuel credit cards in the market. Another co-branded fuel card of Axis, the IndianOil Axis Bank credit card, seems like a base variant of this card. While the cashback percentage on fuel savings remains the same, users get additional benefits here like dining discounts, lounge access, etc. The lounge access benefit on the card of 8 in a year is better than most fuel credit cards. Additionally, unlike other cards that set the fuel surcharge waiver limit, this card keeps it unlimited.

Citi Cashback Credit Card, migrated to Axis Cashback Credit Card, has gone through the maximum revision in comparison to other cards. While the Citi variant offered the highest cashback of 5% on utility bill payments, movies, and telephone bills, this card keeps things different. The card has a new accelerated category—online shopping—that can fetch users up to 7% cashback. Additionally, the Axis variant works on a tier-based structure, offering the maximum returns on spends beyond Rs. 40,000. Unlike most credit cards that have a similar annual fee as earlier, here the fee has been increased from Rs. 500 to Rs. 1,000.

With 7% cashback on monthly spends above Rs. 40,000, the card has gone beyond the standard value of 5% on most cashback credit cards. However, while meeting the highest tier that requires a monthly spend of Rs. 40,000 could be challenging for some, it could yield good returns for high spenders. Another good thing is that the card includes utility bill payments in its cashback program, an often excluded category, especially on Axis credit cards. But, unlike other cashback cards like HDFC Millennia, it does not offer any complimentary lounge access or fuel surcharge waiver.

For this co-branded arrangement with popular merchant Shoppers Stop, the Axis variant keeps the co-branded loyalty intact by offering the highest cashback on spends at Shoppers Stop. But the card comes with certain revisions in the reward structure that could impact the way users can maximize savings. While the rewards earned have improved from 14 rewards per Rs. 200 to 20 rewards per Rs. 200, the redemption value has diminished from Rs. 0.6 per reward to Rs. 0.5 per reward.

The card can be a suitable choice for those who prefer Shoppers Stop for their offline shopping. The co-branded features on the card are comparable with those of other co-branded Shoppers Stop cards, such as the such as the HDFC Bank Shoppers Stop Credit Card. In comparison to the HDFC variant that comes with rewards capping, the Axis card offers unlimited rewards. Even the reward earning is better here, but the HDFC card offers multiple redemption options and a high redemption value of 1:1.

Another co-branded credit card to go through this transition is the IKEA Family Credit Card. The card will now be available as the IKEA Family Credit Card from Axis Bank. Similar to the Citi variant, the new card continues to be a lifetime-free credit card with accelerated benefits on IKEA purchases. But unlike the Citi card, which offered activation benefits at least for a limited period, this card does not come with it as of now.

*Limited period offer.

The card continues to confirm its co-branded identity with IKEA. It could be a suitable choice for those who are planning to make big-ticket purchases with IKEA or frequently visit the stores. But considering that the stores are located at selected locations in the country, the card can target only a limited customer segment. The card also extends benefits to dining, but that does not keep it away from the fact that it is largely suitable for IKEA spends only.