As of March 01, 2023, Axis Bank acquired all of Citibank’s consumer banking services in India. It was then estimated that it would take approximately 18 months for all Citi customers to transition smoothly to Axis Bank.

Now, Axis Bank has announced its plan to rebrand all Citibank credit cards under its banner this year. Soon, they will start migrating Citi customers to Axis Bank early. Naturally, those with Citi credit cards will have many questions regarding the migration process. Currently, we have details about the migration of Citi Rewards, IndianOil, Prestige, and PremierMiles Credit Cards. The migration will be carried out in phases, with completion for some users expected by 15th July 2024.

Citi Credit Cards Migration

Timeline of Migration from Citi to Axis Bank Credit Cards

Timeline Milestones
Migration Day (For Some Users) (15th July 2024) Migration of Relationship from Citi to Axis
Post Migration Migration Completion: All Services Transferred to Axis Bank Platforms
Second Half (H2) of 2024 Replacement of Citi Cards With New Axis Bank Credit Cards

Citi to Axis Bank Credit Cards Migration

Below are the newly rebranded Axis Bank credit cards, which will replace the Citi cards.

Existing Citi Credit Card Post Migration Axis Bank Credit Card
Citi Rewards Axis Rewards Credit Card
IndianOil Citi Card IndianOil Premium Axis Bank Credit Card
Citi PremierMiles Axis Bank Horizon Credit Card
Citi Prestige Axis Bank Olympus Credit Card
IKEA Family Credit Card by Citi IKEA Family Credit Card by Axis Bank
Citi Cash Back Credit Card Axis Bank CASHBACK Credit Card

Everything About Citi Credit Cards Migration

What Shall the New Axis Bank Cards Offer?

For those transitioning from Citi to Axis Bank, it’s essential to understand the features and benefits of the credit cards offered by Axis Bank as a replacement. Below are some of the top features of the credit cards provided by Axis Bank in lieu of Citi-branded cards.

Axis Rewards Credit Card (Existing)

Joining/Annual Fee – ₹1,000 + GST

Welcome Benefits – 5,000 EDGE REWARDs on Spends of ₹1,000 or More Within the First 30 Days of Card Issuance

The Axis Reward card offers an accelerated rate of 20 EDGE Reward Points for every ₹125 spent on apparel and departmental stores. Additionally, 2 EDGE Reward Points are offered for every ₹125 spent on all other eligible purchases. This card also provides attractive milestone benefits for monthly spending of ₹30,000 or more. Those who transfer to this card from the Citi Rewards card can also enjoy two complimentary domestic lounge access without any extra charges.

IndianOil Premium Axis Bank Credit Card (New)

Joining/Annual Fee – ₹1,000 + GST

Welcome Benefits – 500 EDGE Miles on the First Transaction Within 30 Days of Card Issuance

The IndianOil Premium Axis card is the new and upgraded fuel card the bank offers. Cardholders will earn 6 EDGE Miles for every spend of ₹150 at IOCL petrol pumps. For grocery spends, 2 EDGE Miles per ₹150 will be earned, and for all other eligible spends, cardholders will receive 1 EDGE Mile for every ₹100 spent. These EDGE Miles can be redeemed for free fuel at IOCL outlets, where 1 EDGE MILE is equivalent to ₹1. With this card, customers can also avail themselves of two complimentary domestic lounge accesses per quarter, 30% off on Zomato food delivery, and a 1% fuel surcharge waiver across 35,000+ IOCL outlets in India. This card’s annual fee can be waived by spending ₹30,000 or more in a card anniversary year (for old Citi cardholders only; new applicants shall have to spend ₹1 lakh or above).

Axis Bank Horizon Credit Card (New)

Joining/Annual Fee – ₹3,000 + GST

Welcome Benefits – 5,000 EDGE Miles on Spends of ₹1,000 or More Within the First 30 Days of Card Issuance

Those with the Citi PremierMiles shall be provided with the exclusive travel Axis Horizon credit card. Earn 5 EDGE Miles/₹100 spent on TRAVEL EDGE and airline websites. All other eligible categories shall earn 2 EDGE Miles/₹100 spent. These EDGE Miles can be converted to partner airlines and hotels at a ratio of 1:1. Other benefits have been mentioned below-

  • Two international airport lounge access each quarter.
  • Eight domestic airport lounge access each quarter.
  • 1% fuel surcharge waiver.
  • 25% discount up to ₹800 via EazyDiner (valid once a month).

Axis Bank Olympus Credit Card (New)

Joining/Annual Fee – ₹20,000 + GST

Welcome Benefits – 2,500 EDGE Miles and Taj/ITC Hotel Vouchers Worth ₹10,000

The Axis Olympus card is one of the latest and most luxurious offerings available to Citi Prestige holders. With this card, you can earn 1 EDGE Mile for every ₹100 spent domestically and 2 EDGE Miles for every ₹100 spent internationally. This means that the card offers 4% rewards on domestic spending and 8% on international spending. In addition, there is a low Forex markup fee of 1.8% + GST on international spends, but even with this fee, the effective reward rate on foreign spends comes to 5.8%, which is quite impressive. Here are some of the other features of this card.

  • Unlimited domestic and international (with Priority Pass) airport lounge access.
  • 24/7 concierge services.
  • 2 complimentary airport pickups and transfers each year.
  • Buy One Get One on movie and non-movie ticket bookings with BookMyShow.

Axis Bank Cashback Credit Card (NEW)

Joining/Annual Fee – ₹1,000 + GST

Welcome Benefits – None

  • Get up to 7% cashback on online purchases, subject to terms and conditions.
  • Earn unlimited 0.75% cashback on travel and offline purchases.
  • Receive 0.5% cashback up to ₹100 on your utility bills every month.
  • Enjoy special offers with the Axis Bank Dining Delights program through EazyDiner.
  • Cashback earned in the current billing cycle will be automatically credited in the next billing cycle.

IKEA Family Credit Card by Axis Bank (NEW)

Joining/Annual Fee – Nil

Welcome Benefits – None

The IKEA Family Credit Card by Axis Bank is a unique and budget-friendly credit card designed especially for those with Citi’s IKEA Family Credit Card. This lifetime free card offers excellent rewards on IKEA purchases, making it a perfect fit for those who love to shop for home furnishings and décor at IKEA. The card also provides a decent rewards structure with 3 EDGE Reward Points for every ₹100 spent at IKEA and additional rewards on dining, making it versatile for occasional diners.

What Happens After the Migration from Citi to Axis Bank is Complete?

  • Accumulated points or miles earned until the migration date will be converted to Axis Bank EDGE REWARDS and/or EDGE Miles based on the product you hold. The value and benefits of these points will remain unchanged.
  • Card number, CVV, annual fees, spend-based fee waiver limits, statement date, and credit limit will not change.
  • Existing mandates and card(s) saved on merchant websites will remain unchanged.
  • Your new Axis card will seamlessly take over all outstanding dues and ongoing EMIs.
  • EMIs will be billed in the monthly statement one month from the last billing date.
  • Late payment charges, cash advance fees, payment bounce fees, and fuel surcharge waivers will be revised.

Post Migration Reward Point Conversion

On the migration day, all the unredeemed reward points shall be converted to EDGE Reward Points or EDGE Miles. You might see a change in the number of reward points, but the monetary value will remain the same. Post-migration, all reward points can be viewed on the Axis EDGE Rewards portal.

Citi Credit Card Axis Bank Credit Card Reward Conversion
Citi Rewards Axis Rewards Credit Card 1 Reward Point = 1.75 EDGE Rewards
IndianOil Citi Card IndianOil Premium Axis Bank Credit Card 1 Turbo Point = 1 EDGE Mile
Citi PremierMiles Axis Bank Horizon Credit Card 1 Mile = 0.45 EDGE Mile
Citi Prestige Axis Bank Olympus Credit Card 1 Premier Mile = 1 EDGE Mile
IKEA Family Credit Card by Citi IKEA Family Credit Card by Axis Bank 1 Reward Point = 1 EDGE REWARD Point

Axis Bank EDGE Points/Miles Transfer Ratio

Cards Transfer Ratio
Axis Rewards Credit Card 10 EDGE Reward Points = 1 Partner Point

(For Vistara, AirAsia, ITC, and SpiceJet – 5 EDGE Reward Points = 1 Partner Point

IndianOil Premium Axis Bank Credit Card 2 EDGE Miles = 1 Partner Point
Axis Bank Horizon Credit Card 1 EDGE Mile = 1 Partner Point
Axis Olympus 1 EDGE Mile = 4 Partner Points
IKEA Family Credit Card By Axis Bank 20 EDGE Reward Points = 1 Partner Point

Bottom Line

The transition of banking and credit card services from Citi to Axis marks a significant shift for all existing Citi customers. Axis Bank, which acquired Citibank’s consumer banking services last year, is set to begin the migration process. The migration for a select few will be carried out in phases and is expected to be completed by 15th July 2025, only for some specific customers.

Until the Citi credit cardholder receives their new cards, their old cards shall function properly and be governed by Axis Bank’s terms.

Axis Bank is ensuring that the new cards not only match but also enhance the benefits of the old Citi cards. For instance, the Axis Rewards, IndianOil Premium, and Axis Bank Horizon offer beneficial reward programs, including accelerated reward points/EDGE Mile earning, fuel benefits, free lounge access, and dining perks. The most important aspect of this migration from Citi to Axis credit cards is that no reward point earned with Citi cards shall lose its monetary value.

Citi cardholders must stay informed about their Axis Bank cards’ timelines and new features as the migration progresses. Customers can maximize the benefits of their updated credit cards by understanding the new offerings and reward structures. Stay tuned for further updates on the remaining Citi cards, and make the most of your new Axis Bank credit cards.

FAQs

What changes can I expect after migration to my Citi credit card?

The card PIN, card number, statement preferences, card controls, and annual fees will all remain unchanged. However, your payment channels will be shifted from Citi to Axis Bank (Citi Mobile App to Axis Bank Mobile Banking App).

I have already paid my Citi Bank credit card annual fees. Will Axis Bank charge me again?

You will only be charged an annual fee in accordance with your current annual fee cycle, meaning one year after your last payment. You can continue to enjoy renewal benefits without any hassles.

What will happen to my add-on Citi credit cards?

Your add-on Citi credit cards shall also be migrated to Axis Bank on 15th July.

Will my credit limit change?

The credit limit will remain the same, but it will now be a combined limit that applies to all of your Citi and Axis Bank credit cards. This combined limit will be the total of the individual limits for your Citi-branded cards and the aggregate limit for your Axis Bank cards.

Do I need to submit any application or documents for migration from Citi to Axis Bank?

You will not have to submit applications or documents to migrate to Axis Bank. On migration day, your existing Citi-branded cards and Citibank accounts will be transitioned to Axis Bank cards and accounts.

After migrating my credit card, how can I contact Axis Bank customer support?

You can contact Axis Bank customer support at 1860-419-5555 for any queries.

Will Axis Bank charge any reward redemption fee post-migration?

No, you will not be charged any reward redemption fee.

After the transition, can I view my previous credit card statements?

Post-migration, you can access your credit card statements from the past 18 months using the Axis Bank Mobile App or Internet Banking.

I have more than one Citi and Axis Bank credit card. Will any of my cards be closed on migration day?

No, none of your cards will be closed on migration day. You can continue to use all your Axis and Citi cards post-migration and avail of their benefits and features.

14 Comments

  1. Janvi Reply

    Useful. Gonna change my IndianOil card from Citi to Axis.

  2. Pulkit Reply

    For Citi Cashback card , no update. Will it be same aXis rewards card?

    • Kartik Kanwar Reply

      No update yet for Cashback Card.

  3. Shivam Sharma Reply

    Horizon is a new card. Right??

    • Ankur Mittal Reply

      yes

  4. Abhishek Gupta Reply

    I have a Citibank Indian oil credit card, which is lifetime free for me. Will my Axis Bank Indian oil credit card, be also lifetime free?

  5. Anish Reply

    What happens to my ltf indian oil citi card will that be converted to ltf axis indian oil or they would start charging?

    • Ankur Mittal Reply

      currently there is no information regarding what fees would be charged. Though I think it should remain LTF.

  6. Suhas Deshpande Reply

    मेरा पहला कार्ड समाप्त हुआ और उस कार्ड पे 8000 से भी जादा रिवॉर्ड पाॅईंट का कोई फायदा नही मिला.

  7. Andrew Reply

    I’ve held a Citibank Visa credit card for close to 20 years now. Will the new, replacement card issued by Axis Bank to me also be a Visa credit card? Thank you in advance for reading this and, hopefully, replying.

  8. Shrenuj Reply

    Horizon card vs Atlas which one is better?

    • sourav Reply

      Atlas

  9. Akshat Reply

    Isn’t value(airmiles) getting devalued in case of horizon.

    10k citi points= 5000 airmiles
    but 4500edge miles=4500 airmiles
    500 airmiles loss

    • Kartik Kanwar Reply

      The number of EDGE Miles might differ but there is no loss of value during this transition.

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