I have to admit I love it how things work out sometimes. I’m a Citibank PremierMiles fan, and I have been one since November 2011. We’ve had a little bit of our love hate in 2012, but I’ve come to terms with it and moved on to live with the new reality ever since. Now, I’ve earned a lot of PremierMiles over the years, but the only true redemption I’ve made has been last year, when I flew Singapore Airlines LAX-SIN-BOM in Business Class with them. Otherwise, the PremierMiles just lie in my account, and I transfer them whenever needed, since they never expire.
Anyhow, so, last month I finally decided to apply for the Prestige, which I’ve loved since I’ve heard about it. However, I already have the most number of Citibank credit cards they’d allow to be issued in India (2), with a Citibank PremierMiles Visa and Citibank PremierMiles MasterCard in my wallet. Citi advised to convert one of the existing cards into the Citi Prestige, and I gave them my go ahead. At that point of time, I was advised that Citi would convert points in the ratio 2 PremierMiles = 1 Prestige Point for me, and that was a gimme.
When the new package arrived, it had a conversion chart inside as well, which detailed how point conversion would take on from earlier cards. Now, here is how it looks.
You know the beauty of this? While Citibank PremierMiles transfers to various airmile programs at 1 PremierMile = 1 Airmile, with conversion to Prestige, 1 Prestige Point converts to 4 Airmiles. Hence, with this move, they’ve doubled the number of miles in my account.
On the sideline, I had to give away some of my PremierMiles which I was going to earn due to the International Spend promo, but I guess I made up for it more than enough with this arbitrage opportunity. And yes, I still do have my Citibank PremierMiles Visa in my pocket which I will continue to use to book most of my air travel over the years ahead.
Related Posts:
- The Citibank Prestige Officially Launched!
- Citibank to launch Prestige Credit Card in India
- Credit Card Review: Citibank Prestige India (2014)
- Lots of miles and status to come with Citi Prestige in India
- Singapore Airlines Business Class: my best PremierMiles redemption till date
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Folks owing the the recent devaluing of the CITI PM Card, should it be sensible enough for me to switch to Citi Prestige Card? Considering that I have > 3 lakh miles accumulated as PM?
@Ajay I guess the party has to stop somewhere…
Your PM card is valid for 60 days post upgrade. You can continue to use your PM at 10X partners and effectively earn 20 miles per Rs. 100 in those 60 days!
@Manish not true. While your PM card is valid, it still hits your new account as Prestige and the points are awarded accordingly.
Citi had offered me a free for life PM card when I converted from Citi Jet Airways card back in 2012. Any idea would they still charge me for Prestige if I choose to convert?
@Manish… True!!!
@KRISHNAKUMAR use your Jet HDFC card for the private jet purchase, you’d own a jet and get Jet Plat status as well 😉
I think that spending 10L on the SBI-Air India card would be money better spent…doesn’t look like Jet will be around much longer!
@KRISHNAKUMAR You can apply for Jet HDFC World card and spend 10 lacs/month and you will be Jet Plat within 12 months without even taking a single flight!
@Manish,
Are you saying Rs 1.2 Cr in a year? I shall buy a private Jet instead !
I just called Citi now and they were willing to do the conversion provided:
1. You have an IT return showing an income of at least 40 lakhs.
2. That they convert the existing PM card into the Prestige.
I was asking them if I could then apply for another PM card (Visa version) BEFORE doing the conversion and they said no I could not. (While other friends have done so – amazing!)
@Rajiv I also use PM for online shoppng. 10 miles per 100 relly help. Keeps the wife happy too 🙂
Dear AJ,
Is there any card on offer in India which gives direct status of JP Platinum or AI Maharaja?
@Krishnakumar No
🙂 I can imagine the sense of happines. Btw, when would you use premier miles in favour of prestige unless for reasons such as hitting the credit limit
@Rajiv for airline tickets and other categories where you get 10 pm/100 spend there
ah right! That should have been obvious! Thanks
@Ajay Will be waiting on that.
If you could confirm, it seems conversion is allowed only in case of upgrade, they would not allow active conversion from 1 card category to another (i.e. from 1 active PM card to 1 active prestige card)
@Aman PM Visa to Prestige is an upgrade
Great news! You reckon there is some upper limit for conversion. Coz with this I could b a mile millionaire! 🙂
Also if i apply for the prestige, will I get to keep the PM card or it will be cancelled?
For now I just have 1 Citi card ie PM Visa.
I would gladly apply for the prestige using your referral if you could provide me 1.
@Aman no upper limit for conversion AFAIK. You can have two different cards with Citi though how their Risk Management looks at it is very individual. I upgraded one PM to Prestige and hence I have both. I am not sure if they are doing referrals for the Prestige but I will get back to you.
Is the conversion of 1 prestige point into 4 miles is a standard ratio or a limited period offer?
If it is a standard ratio then I shall wait for the credit of International Promo Spend points into my PM account and shall apply for Prestige card thereafter. What do you say?
@Krishnakumar it is a standard feature. in my case, I was in a hurry to get the prestige because I can’t have a day without a Priority pass just in case I need to travel.
I am not sure how this works. So if I have 100,000 premier miles. when I transfer to the Prestige card, I get 50000 points, and then when I transfer it say to Kris FLyer, I end up with 200,000 miles. sounds good if this is the case. This could be the only reason for me to upgrade to the Prestige card.
@aaron you got it exactly right. And yes, when you make your first transaction on the prestige you get another 2500 points -> 10000 miles + a voucher for Taj or ITC as per your choice.
Congrats AJ,
BTW did you she’ll out the Joining Fees or got it waived…?
@krishnakumar there is no joining fee but annual fee of 20K. Billed. I don’t see why should it not be paid.