Citi Credit Cards : All your questions answered

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Should you continue using your card, will your credit score be hit—all your questions answered

Let’s decode the most common questions of Citi credit card customers pertaining to reward points, dues and more.

Should I continue holding the Citi credit card after the announcement that Axis Bank is acquiring the credit card business?

Do
not rush to surrender the Citi credit card right away after this
announcement. “Axis bank is a significant player in the credit card
segment and has a good credibility in the market. Wait until the
migrating offer from the Axis Bank to existing Citi credit card
customers,” says Parijat Garg, a digital lending consultant. He adds,
you can plan to exit after evaluating the offer from Axis Bank. Anyone
who has Axis bank credit card right now and also a Citi bank credit
card. They should evaluate which card is better for them and continue
with one. You may not like to hold two credit cards with similar
benefits in your wallet.

Assume a customer is using a Citi
IndianOil Credit Card or Citi Gold credit card. “It will be interesting
to see how it will get mapped to AXIS bank credit card as they also have
a separate set of credit cards,” says Garg. He adds, it’s important you
migrate to a credit card that has equal or better rewards and offers.
Also, your credit limit should remain the same or improve. Then it makes
sense for Citi credit card customers to continue with Axis Bank.

Will Axis Bank devalue Citi reward points during acquisition?

No,
Axis Bank will not devalue reward points while acquiring. “The
customers will have better terms and offers, a wider set of services. We
believe we can match those offers and retain it that’s guaranteed for
any customer who is coming over as part of this transaction,” says
Subrat Mohanty, Group Executive – Banking Operations &
Transformation of Axis Bank.

I have an ongoing dispute with the Citi credit card related to an outstanding amount. What I should do now?

If
you have some disputes related to an outstanding amount or late payment
charges with Citi bank, then clear them while it is still in operations
in India and make sure your credit history is clean. Once Citibank
exits its India retail business, i.e. after this acquisition gets over
in six to nine months, getting a resolution to your card complaints
might be difficult and time-consuming. “An unresolved dispute may also
reflect in your credit report. In future, there could be challenges
while applying for a loan,” says Garg.

Will Citi’s exit impact my credit score?

No,
there won’t be any impact on your credit history, if you exit from Citi
bank’s credit card or you are transferred to the acquiring bank. “The
credit history travels with you and it’s not linked to a particular
organisation,” says a spokesperson from www.creditca...in.

What parameters should I evaluate to decide whether to continue with the credit card or exit?

The
Citi reward points do not expire. But, Axis bank may set some expiry
date for your points, depending on the type of card. Ajay Awtaney,
editor of LifeFromALounge.com, says, “When you are transferred to the
acquiring bank, you must evaluate the acquirer’s history and experience
in the credit cards segment, whether existing benefits will be
continued.”

The
credit limits offered by Citibank on credit cards are much higher
compared to most of the banks. Will there be a re-look on those limits
now by Axis Bank?

Mohanty says that the credit limits of
all Citi customers are most likely to remain the same. “The limit on
credit cards is determined by the quality of the customer. So, it’s not
always comparable,” says Mohanty. But he adds that the bank has done its
due diligence and has “fairly done a detailed understanding and
analysis of Citi’s customers. So, existing credit limits will continue.”

But, if you have a poor credit history during this transition period, there is a possibility that Axis bank will lower your credit limit.



https://www.moneycontrol.com/news/business/pers...

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Deal Lieutenant Deal Lieutenant
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The credit history travels with you and it’s not linked to a particular organisation

I think this statement is wrong. Right now the lender is Citi, after the merge the lender will be Axis, so I have a feeling that the older credit account will be closed and a new credit account will be opened in CIBIL and other credit bureaus. Maybe someone who has had a similar past can comment (like when aquisition/merger of banks happened in past, how did it impact the credit/loan in the cibil)

@guest_999 @Ramta_Jogi

Critic Critic
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BlueFlash wrote:

The credit history travels with you and it’s not linked to a particular organisation

I think this statement is wrong. Right now the lender is Citi, after the merge the lender will be Axis, so I have a feeling that the older credit account will be closed and a new credit account will be opened in CIBIL and other credit bureaus. Maybe someone who has had a similar past can comment (like when aquisition/merger of banks happened in past, how did it impact the credit/loan in the cibil)

@guest_999 @Ramta_Jogi

Not sure but I think it depends on company structure .e.g. whoever acquires city business if decide to let the original credit card/loan company structure unchanged then nothing should be changed in cibil but if the business is merged/renamed to another entity then that will need new cibil entries.

Deal Lieutenant Deal Lieutenant
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Points ka kya kare? Redeem kar de? I have almost 7000 points

Deal Lieutenant Deal Lieutenant
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rohan8397 wrote:

Points ka kya kare? Redeem kar de? I have almost 7000 points

Kr lo .. kuch pta ni axis ka

Deal Subedar Deal Subedar
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BlueFlash wrote:

The credit history travels with you and it’s not linked to a particular organisation

I think this statement is wrong.

The statement should hold true.

Standard Chartered taking over from ANZ Grindlays operations & cards is the only acquisition i can think of, though Cibil was not there before 2000.

Can anybody recall that Sachin Tendulkar Ad of “Visa Power”? It was from ANZ Grindlays bank.

Likewise, with merger of many PSU banks in the recent past, the credit history would have definitely travelled across banks.

Deal Cadet Deal Cadet
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What is meant by mapping of Citi cards to axis cards?

I thought they will just be renamed to axis like Paytm Citi card will now be called Paytm axis card without any change. But from above statement, it seems like all Citi cards will be closed and new axis cards will be given.

If that happensa and someone has say 3 Citi card and 3 axis cards then after migration, he will have 6 axis cards. Will axis even allow that?

Deal Cadet Deal Cadet
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Knight11 wrote:

What is meant by mapping of Citi cards to axis cards?

I thought they will just be renamed to axis like Paytm Citi card will now be called Paytm axis card without any change. But from above statement, it seems like all Citi cards will be closed and new axis cards will be given.

If that happensa and someone has say 3 Citi card and 3 axis cards then after migration, he will have 6 axis cards. Will axis even allow that?

chalo kisiko to milega pre-approved card 😄
ROFL

Super Stud Super Stud
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Ramta_Jogi wrote:

The statement should hold true.

Standard Chartered taking over from ANZ Grindlays operations & cards is the only acquisition i can think of, though Cibil was not there before 2000.

Can anybody recall that Sachin Tendulkar Ad of “Visa Power”? It was from ANZ Grindlays bank.

Likewise, with merger of many PSU banks in the recent past, the credit history would have definitely travelled across banks.

Why is Citi still accepting applications? any idea🤔

Deal Cadet Deal Cadet
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BlueFlash wrote:

The credit history travels with you and it’s not linked to a particular organisation

I think this statement is wrong. Right now the lender is Citi, after the merge the lender will be Axis, so I have a feeling that the older credit account will be closed and a new credit account will be opened in CIBIL and other credit bureaus. Maybe someone who has had a similar past can comment (like when aquisition/merger of banks happened in past, how did it impact the credit/loan in the cibil)

guest_999</a> <a href="https://www.desidime.com/users/983565" rel="nofollow" target="_blank">Ramta_Jogi

old cibil entries everything will be same, only lender name will change from Citi to Axis

earlier in 2007-2010 i had many loans and lenders were merged / taken over so now for those loans new vendors name will be reported in cibil

Deal Cadet Deal Cadet
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xxxyyyzzz wrote:

Why is Citi still accepting applications? any idea🤔

Does it really matter? It’s super hard to get Citibank cc. 

This is bad news for current citibank cc users as we all know Axis customer support is worst where as Citibank got the best customer service.


Worst would’ve been Kotak who was in competition bid winning and acquire Citibank. 😂

Hunk Hunk
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Faug wrote:

Does it really matter? It’s super hard to get Citibank cc. 

This is bad news for current citibank cc users as we all know Axis customer support is worst where as Citibank got the best customer service.


Worst would’ve been Kotak who was in competition bid winning and acquire Citibank. 😂

Khota Bank nahi chahiye bro, Aac-chi bhi khuch nahi Citi CS ke age, have been using Citi Card from 14+ years with not a single problem at all… Will have to apply for US Visa now – Loyalty pays stuck_out_tongue_closed_eyes joy

Deal Lieutenant Deal Lieutenant
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Faug wrote:

Does it really matter? It’s super hard to get Citibank cc. 

This is bad news for current citibank cc users as we all know Axis customer support is worst where as Citibank got the best customer service.


Worst would’ve been Kotak who was in competition bid winning and acquire Citibank. 😂

true that 

Deal Cadet Deal Cadet
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I will always remember Citi as it was my first CC. Also my first paid CC. Also my first CC to cross 5L CL.

RIP

Deal Cadet Deal Cadet
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Today, Axis Bank has announced it acquires Citibank’s India consumer banking business which comprises credit cards, home loans and retail banking.

Can someone clarify on if retail banking does mean the ‘Savings account’ & ‘Debit card’?!

Deal Lieutenant Deal Lieutenant
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yes

Deal Lieutenant Deal Lieutenant
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rockinfreakshow wrote:
Today, Axis Bank has announced it acquires Citibank’s India consumer banking business which comprises credit cards, home loans and retail banking.

Can someone clarify on if retail banking does mean the ‘Savings account’ & ‘Debit card’?!


yes

Deal Cadet Deal Cadet
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Is there any option to convert citi credit cards to LTF?

Deal Captain Deal Captain
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What about citi bank account / loan account holders?

What will be the impact?

Deal Subedar Deal Subedar
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I have Paytm citi and axis ace cc. I was thinking to close Citi card but continued due to occasional Flipkart and Amazon 10% discount offers. 

It seems now I have to close Citi cc. 

Royal Challengers Bangalore Royal Challengers Bangalore
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My brother has Citi Business Card which is LTF. Should see what Axis bank will do with this card and whether it remains LTF. Closing the card is not an option as this is his oldest card/first card (He got this card 16 years ago).

Deal Subedar Deal Subedar
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kartikxxx wrote:

What about citi bank account / loan account holders?

What will be the impact?

Loan not to be paid wink you can say Citibank se liye tha, Citibank ko hi prepay karunga.

Deal Captain Deal Captain
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myfungang829 wrote:

Loan not to be paid wink you can say Citibank se liye tha, Citibank ko hi prepay karunga.

Ye toh badia chej hai laughing

Deal Cadet Deal Cadet
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Knight11 wrote:

What is meant by mapping of Citi cards to axis cards?

I thought they will just be renamed to axis like Paytm Citi card will now be called Paytm axis card without any change. But from above statement, it seems like all Citi cards will be closed and new axis cards will be given.

If that happensa and someone has say 3 Citi card and 3 axis cards then after migration, he will have 6 axis cards. Will axis even allow that?

does paytm citi card give 10% discount during amazon /fk sales??

Deal Cadet Deal Cadet
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shivrajsingh wrote:

does paytm citi card give 10% discount during amazon /fk sales??

Generally yes.

Chennai Super Kings Chennai Super Kings
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I Have A Doubt 

If A Person Holds – 3 Axis Cards And 3 CITI Cards


After Acquisition Axis Allows Only 3 Cards Per Person  ( If Renamed CITI As Axis )

Definitely This Will Be A Loss Venture If Axis Do Like This 


IMO They Will Operate As Independent Banks Under Axis Mgt 






Deal Subedar Deal Subedar
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Citi was my first credit card too. Will miss Citi when the swap finally happens in 2023. 😞

Deal Subedar Deal Subedar
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i have taken 4blalh rupee loan from citi. kash wo passon na hota 🤫

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