[hardilip]

Citibank announced their exit from India early last year (2022) and later updated by them that Axis bank will take over their products to give continuity for the customers.

I have been a Citibank Indian Oil Credit Card user more than 10 years now. This was the only card I was using for all my expense and use the points for fuel redemption (those who doesn't know, 1 point is equivalent to 1 rupee fuel in the select IOCL outlet). There were times (pre covid) were I used to add up points and even fill my tank for free.

Today I got an email from Citibank that in next 30 days they will wind up the operations and asked me to stop using Citi credit card and redeem the points if I have any.

So I did my final fuel filling with the points to bid a good bye to the Citibank credit card.

I hope there might be many like me bidding a bye!

Do we have any other banks credits card that gives equivalent offer (redeem points directly for fuel?)

[pannags]

Originally Posted by hardilip

Do we have any other banks credits card that gives equivalent offer (redeem points directly for fuel?)

HDFC has both Indian Oil as well as a general fuel oriented credit card. However, neither of them offer the kind of value the Citi IOC card does(did).

Have stopped using cards at fuel pumps since the pandemic.

[castiel]

I have citibank ioc card as well but didn't get this email as of now. I assumed it will be converted to axis bank card when the time comes

[hardilip]

Originally Posted by castiel

I have citibank ioc card as well but didn't get this email as of now. I assumed it will be converted to axis bank card when the time comes

If you have given the consent to change it to Axis Bank they will. If not they wouldn't.

I wasn't interested to move to Axis and they have been following up with me but I denied.

Yesterday night I got the below email

As communicated earlier, we entered into an agreement with Axis Bank on March 30, 2022, for the sale of Citi’s consumer businesses in India. The said transaction is expected to close in the first half of 2023, subject to requisite regulatory approvals. Subsequently, we reached out to you seeking your consent to transfer your Citi relationship, associated data, and tax documents to Axis Bank. We have duly recorded that you have declined to transfer your Citi Credit Card to Axis Bank.

Accordingly, please note that we are constrained to close your captioned Citi Credit Card (and any additional linked cards) on or after 30 days or later from the date of this communication as Citi India will no longer be able to provide these products and services on and from the closure of the sale transaction.

However, we would like to inform you that you still have an option to transfer your Citi relationship to Axis Bank within 30 days of receipt of this communication. Just SMS YES < space > last 4 digits of your credit card number to 52484 / 98807 52484 from your registered mobile number.

If you choose to not change your decision, we will proceed with closure of your Citi Credit Card and request you to do the following within 30 days of receipt of this communication:

• Do not use the credit card for further purchases upon receipt of this letter. Any additional usage needs to be paid in full within 30 days post receipt of this communication.

• Login to Citibank Online to place a request for any duplicate statements for previous months/ years.

• Clear the total amount due (TAD) on your credit card on or before the due date.

• Redeem the reward points on your credit card as per your card eligibility.

• Outstanding dues, if any, will be assigned to and payable to Axis Bank.

• EMI(s) / Loans on cards, if any, are not pre-closed and will move to Axis Bank. The loan initial interest amount and/or EMI(s) will continue to be billed in the monthly statement and shall be included as a part of the minimum amount due.

In case of any queries, refer to the FAQs here. For further assistance, kindly visit our website www.citibank.com/india, login to your account and write to us securely through the ‘Your Queries’ link. Alternatively, you can call our 24x7 CitiPhone helpline.

Warm regards,
Customer Service

[castiel]

Yes I gave the consent long back. I have 2 axis bank cards already but this is my oldest card with 15 years on it so did not want to close it. (Over this period I had switched to/ upgraded/downgraded different citicards).

I also assumed by not closing the credit history will carry forward, I hope I am right.

[teknophobia]

I haven't got such an email yet, but you could look at the Indian oil Axis Bank card

[hardilip]

Originally Posted by castiel

Yes i gave the consent longback. I have 2 axis bank card already but this is my oldest card with 15 years on it so did not want to close it.( over this period i had switched to/ upgraded/downgraded different citicards ) . I also assumed by not closing the credit history will carry forward ,I hope I am right.

I am not sure if the credit history will carry forward as this will be a new card / provider that will be issued to you. That's why Citi has told in their email to download all the old statements.

I believe this will be a new association with Axis bank and Citi relationship will be closed and 45 days post that it will not be listed as closed in CIBIL score

Originally Posted by teknophobia

I haven't got such an email yet, but you could look at the Indian oil Axis Bank card

They don't give the same benefits as that of the Citi Bank Indian Oil Credit Card.

[saisree]

I too chose to transfer it to Axis bank. Now the important question is whether the new Axis card retain the same benefits CITI IOC card had?
I have recommended this card to many of my friends just for the free fuel.

[Turbanator]

Originally Posted by hardilip

I used to add up points and even fill my tank for free.

Same. I used all my points a few weeks back, a couple of Tank fills

Today I got an email from Citi Bank that in next 30 days they will wind up the operations and asked me to stop using Citi credit card and redeem the points if I have any.

Originally Posted by castiel

I have citibank ioc card as well but didn't get this email as of now. I assumed it will be converted to axis bank card when the time comes

I have got this too, was in Spam folder. Maybe to those customers who have not agreed on migration to Axis.

[hardilip]

Originally Posted by saisree

I too chose to transfer it to Axis bank. Now the important question is whether the new Axis card retain the same benefits CITI IOC card had?
I have recommended this card to many of my friends just for the free fuel.

I checked with the Citi representatives they told the features offered in the Axis bank can be confirmed only after the migration. Though Axis bank has an IOCL co branded card but they don't offer fuel redemption for the points.

[castiel]

Originally Posted by Turbanator

I have got this too, was in Spam folder. Maybe to those customers who have not agreed on migration to Axis.

I had checked. It is not in spam, yes so it seems this is applicable for non migrating customers.

[finneyp]

I recently got Citibank Rewards card (in Dec'22), wondering why they are issuing new cards when they are moving their business to Axis Bank...

[s.sriram1989@gm]

Looking for a bank which provides equally safe and good customer service like Citi did. Since my childhood I used to watch my father availing Citi card and once I started working, I had only Citi cards. I did not give consent to move cards to Axis after knowing the level of customer service they provide. Any suggestions will be appreciated. I want to go with Amex which provides superb customer service but recently heard many outlets do not accept Amex cards. Also I am looking for review on HSBC or Standard Chartered service.

[gupta_chd]

I haven't got any offer about converting to Axis Bank card for my Citibank card. Why is it so?

Is it because I already have Axisbank Flipkart credit card? But then it is not a fuel card.

[mayuresh]

Originally Posted by hardilip

Do we have any other banks credits card that gives equivalent offer (redeem points directly for fuel?)

May be there are equivalent cards, but no equivalent service for sure! I opted out of Axis conversion.

You may like to consider cashback cards which sort of auto-redeem rewards every month - ICICI amazon for one. Again ICICI is nowhere close to matching the service of Citi, but this type of card has no hassles of explicit redemption. For this card, money goes to Amazon pay wallet and can be used for bill-pay or amazon purchases. But there are no points for fuel purchase on this card.

Don't fall for rewards cards with inflated rewards figures unless 1 reward point = 1 rupee (like Citi). In most cases 1 reward point turns out to be Rs 0.20 or so! Also many banks have introduced reward redemption fee of Rs 99. Check that before selecting such card.