For those of you who have picked up a Citibank Premier Miles Card in its earlier shape and size, here is some good news and bad news. Citibank is commonsizing the old and new product, and hence, changing the mileage earning capability on the new card in the following manner:

• Effective 21st May 2012, Citibank has moved the mileage earning to earn 4 miles per Rs. 100 spent on non-airline categories, up from the current rate of 2.5 miles per Rs. 100.
• 10 miles per Rs. 100 at airlines continues, but now capped to airline spends of Rs. 5 Lakhs in a calendar year. For spends beyond this, you would earn 4 miles per Rs. 100 spent. It is not clear how will they account for 2012 spend as of now, since this announcement comes halfway into the calender year. Take note, if you booked via the PremierMiles.co.in Portal, you still get your 10 miles per Rs. 100.

Based on market-research, no less, Citibank is also withdrawing the 99$ Priority Pass that came along with the Premier Miles card. The currently issued Priority Passes will however continue to be in existence till they expire. Also, the spend-based tickets, which were one of the highlights of the card for me, will go away. The 3-tickets by itself were a Rs. 4,500 ($100) benefit which are now being withdrawn. However, Citi expects the higher earning rate on general spends to make it up to you for these ticket codes.

As a special promotion, however, Citibank is giving out a great deal for all travellers out there. You would earn 10 miles per Rs. 100 for all international and hotel spends (Indian and international) between 1st June to 30th Sept 2012. Now that is some bonus I would jump on, personally. I hope it makes good sense for you to go for this as well.

Do take note, this promotion is valid for the existing cardholders who received this email, and not for the cardholders who are signing up for the new Citibank Premier Miles Visa card.

While I do not appreciate credit card issuers changing the goalpost midways, that is just the way I think that they should be fair to the old card holders in a manner they signed on to the card. However, the extra miles should make good some of the loss via the ticket codes, along with the reworked award charts. What I miss the most however, is the loss of Jet Airways as a transfer partner.

Good or bad for you? Let me know…

Related Posts:

• Sunday Plastic: The ‘new’ Citibank Premier Miles Credit Card
• Sunday Plastic: The American Express Gold Charge Card
• Sunday Plastic: Citibank Premier Miles Credit Card (Old)
• Burn Notice: Citibank and Jet Airways – friends turning foes!

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