HomePersonal Finance NewsCiti to Axis Bank migration FAQ: What happens to your credit card transactions, charges and reward points
The migration of Citi's credit card portfolio to Axis Bank is set to complete by July 15, 2024. Here's what you need to know about the upcoming changes to your credit card benefits and transactions.
The migration of Citi's credit card portfolio to Axis Bank must be a topic of interest for many Citi cardholders. With the transition nearing its completion on July 15, there are several questions regarding how this change will affect current credit card users.
This FAQ aims to address the key concerns and provide detailed information on what to expect during and after the migration process.
Citi to Axis Bank migration FAQ: What happens to your credit card transactions, charges and reward points
When is the migration from Citi to Axis Bank expected to be completed for all my credit card relationships?
The migration of all your relationships, including credit cards, will be completed by July 15, 2024.
Starting from this date, you can begin getting the benefits of your new Axis Bank card(s) while your Citi-branded card(s) will continue to work until you receive your new Axis Bank card(s) within a few months after the migration.
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What changes should I expect on my credit card transactions post-migration?
The card PIN, card number, expiry date, and CVV will remain the same.
Card controls and limits, including those for point-of-sale, contactless, e-commerce, ATM, and international transactions, will also remain unchanged.
The combined credit limit across all Axis Bank and Citi-branded cards will stay the same.
Regarding fees and statements, outstanding balances and ongoing EMIs will not be affected.
However, the payment channels will shift from Citibank channels to Axis Bank channels, which include the Axis Bank Mobile Banking App and Axis Bank Internet Banking.
Customer service support will transition from Citi Phone to Axis Bank Phone Banking.
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Which credit card benefits will be applicable on my Citi-branded credit card until I receive the new Axis Bank card?
Post-migration, the benefits of your Citi-branded credit card will be transitioned to corresponding Axis Bank products.
For example, the Citi Rewards Credit Card will become the Axis Bank REWARDS Credit Card, and the IndianOil Citi Credit Card will transition to the INDIANOIL AXIS BANK PREMIUM Credit Card.
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What will happen to my accumulated reward points or miles on my old/existing Citi-branded card?
All your unredeemed reward points as of the migration day will be migrated and converted to Axis EDGE REWARD Points or EDGE Miles, depending on the product you own, ensuring that the monetary value remains the same.
The points accumulated until the migration date will never expire, while points earned post-migration will expire after three years.
Which points will be redeemed first during redemption: migrated Citi points or points earned after migrating to Axis Bank?
After migration, all migrated Citi points will be treated as if earned in Axis Bank on the migration day.
Points earned directly in Axis Bank will retain their original earn dates.
If you are only a Citibank customer with no existing Axis Bank relationship until the migration day, your Citi points will be redeemed first, followed by Axis Bank points earned after migration.
If you are an existing Axis Bank and Citibank customer, points earned in Axis Bank before migration day will be redeemed first, followed by Citi points.
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How do I pay my credit card bills after migration?
Post-migration, you can make payments towards your credit card outstanding via various payment methods.
From an Axis Bank savings account, you can use Axis Bank Internet Banking, the Axis Bank Mobile Banking App, auto debit, pay at ATM, or cash/cheque payment (credit will be processed when funds are realized at Axis Bank’s end).
From other bank savings accounts, you can pay via UPI using any UPI-e.
What fees and charges will be applicable on my credit card after migration?
Interest for the statement generated after migration will be as per Axis Bank rates.
However, interest amounts pertaining to a billing cycle before migration will be calculated using Citibank's interest rates and billed post-migration, if applicable.
Changes have been made to the forex markup on transaction reversals, late payment charges, cash advance fees, fuel surcharge waiver, payment bounce fees, and rental surcharge.
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After migration, will there be any change in the annual fee charged on my Citi-branded card(s)?
No, there will be no change in the annual fees on your Citi-branded card post-migration.
If there are no annual fees applicable on your card, it will continue as-is even after the migration.
In case of any changes, you will be informed in advance.
Post-migration, will the credit limit on my credit cards remain the same?
Post-migration, you will get a single aggregate credit limit across all your Citi-branded and Axis Bank credit card(s).
This limit will be the sum of the limits on your Citi-branded credit card(s) and the Axis Bank aggregate credit limit you currently have.
This aggregate limit will be available for use on each of the cards you hold post-migration.
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