Citibank PremierMiles Credit Card – Benefits, Fees & Eligibility

Introduction

The Citibank PremierMiles Credit Card is a premier travel-focused offering from Citibank, primarily positioned for frequent domestic fliers in India. It is a reward points-based card where points are earned as AirMiles. Its key differentiating benefits include a generous welcome bonus of 10,000 Miles, an annual renewal bonus of 3,000 Miles, and an accelerated earning rate of 10 Miles for every Rs. 100 spent on airline transactions or through the bank's PremierMiles portal. These Miles can be redeemed for flight/hotel bookings with partner airlines/hotel chains or on Citibank’s PremierMiles portal, and can also be transferred to other airline/hotel loyalty programs.

Welcome Benefits

• Receive 10,000 Miles as a welcome benefit upon spending Rs. 1,000 or more within the first 2 months of card issuance.
• Get 3,000 Miles every year upon card membership renewal.

Fees

• Joining Fee: Rs. 3,000 plus applicable taxes (complimentary for Citi Gold account holders).
• Renewal Fee: Rs. 3,000 plus applicable taxes (complimentary for Citi Gold account holders).
• Spend-Based Waiver: Not applicable.
• Rewards Redemption Fee: Nil.
• Foreign Currency Markup: 3.5% of the transaction amount.
• Interest Rates: 3.75% per month (or 45% per annum).
• Fuel Surcharge: 1% fuel surcharge is reversed at authorized Indian Oil refill stations.
• Cash Advance Charges: 2% of the amount withdrawn, subject to a minimum charge of Rs. 300.

Rewards

• Rewards Rate:
  • Earn 10 Miles for every Rs. 100 spent on airline transactions or on Citibank’s PremierMiles portal.
  • Earn 4 Miles for every Rs. 100 spent on all other expenditures.
  • No Miles are earned on spends in categories such as utilities, insurance, educational institutions, government institutions, transportation, and tolls.
• Movies & Dining:
  • Avail up to 20% discount on dining bills at partner restaurants.
• Travel:
  • Miles earned can be used to make travel bookings or transferred to various partner airline and hotel loyalty programs.
  • Miles are redeemable on 100+ Airlines.
  • Cardholders can earn double benefits: PremierMiles on top of regular AirMiles when using an airline's frequent flyer program.
  • Miles have lifelong validity and can be redeemed at any time, with no blackout days.
• Domestic Lounge:
  • Visa Signature variant cardholders receive 8 complimentary domestic lounge accesses per quarter.
  • MasterCard variant cardholders receive 6 complimentary domestic lounge accesses per quarter.
• International Lounge: Not available with this credit card.
• Golf: Not applicable.
• Insurance:
  • Personal air accident cover worth Rs. 1,00,00,000 (Rs. 1 Crore) in partnership with The New India Assurance Co. Ltd. This cover is applicable only in case of loss of life due to an air accident and covers only the primary cardholder.
  • Lost card liability cover worth Rs. 10 lakhs.

Rewards Redemption Guide

• Miles are redeemable against a variety of categories, including travel, retail, and utilities.
• Value of 1 Mile based on redemption category:
  • Fuel at Indian Oil outlets: Re. 0.30
  • Travel-related categories (Yatra, MakeMyTrip, Goibibo, Premiermiles, Indigo): Re. 0.45
  • Utility (Vodafone, BookMyShow), Retail (ShoppersStop, Westside), Dining: Re. 0.30
  • Other categories: Re. 0.20
  • AirMile/InterMile/Taj InnerCircle (TIC): 0.5 partner airmile/TIC Point
• Partner airlines for Miles transfer include: Cathay Pacific, British Airways, Thai Airways, Malaysia Airlines, Eva Air, Etihad Airways, Singapore Airlines, Qatar Airways, Turkish Airlines, and Air India.
• Miles can be redeemed only on airline ticket bookings on partner airline's official websites, airline counter bookings, or on Citibank’s PremierMiles online portal. Redemption is not available on third-party flight/hotel booking sites like Expedia or MakeMyTrip directly.
• When transferring Miles to a partner airline’s loyalty program, 1 PremierMile is considered equivalent to 0.5 partner airline’s AirMile.

Card Eligibility Criteria

• The applicant's age should be between 23 years and 70 years.
• The applicant should either be salaried or self-employed with a good annual income.
• The applicant should have a good credit score.

Documents Required

• Identity Proof: Aadhar card, Voter card, driving license, etc.
• Address Proof: Aadhar card, Voter card, driving license, etc.
• Proof of Income:
  • For salaried applicants: Latest two salary slips.
  • For self-employed applicants: Latest ITR with audited income computation.

Card Review

• The Citibank PremierMiles Credit Card is highly recommended for frequent domestic fliers, offering significant value in the travel category. It is considered one of the best offerings for domestic travel in the Indian credit card market.
• Pros:
  • Miles earned have lifelong validity and no blackout days, allowing flexible redemption.
  • Strong rewards earning on airline transactions and the PremierMiles portal.
  • Generous welcome and renewal benefits.
  • Complimentary domestic airport lounge access.
  • Comprehensive insurance benefits including personal air accident cover and lost card liability.
• Cons:
  • No international lounge access.
  • Foreign currency markup of 3.5%.
  • Miles transfer to partner airlines is at a 1:0.5 ratio.
• Who should apply: Individuals who frequently travel domestically and prioritize earning and redeeming travel rewards with flexibility. It stands out against competitors like Axis Bank's Miles and More card due to its higher miles earning rate and competitive annual fee.

Important Product Details

• Welcome benefit of 10,000 Miles on spending Rs. 1,000 or more within 60 days of card issuance.
• Annual renewal benefit of 3,000 Miles.
• Accelerated earning: 10 Miles per Rs. 100 on airline transactions and PremierMiles portal.
• Standard earning: 4 Miles per Rs. 100 on all other spends.
• Miles are not earned on specific categories like utilities, insurance, educational institutions, government institutions, transportation, and tolls.
• Miles have lifelong validity and no blackout days.
• Redeemable on over 100 airlines and transferable to partner loyalty programs (1 PremierMile = 0.5 partner AirMile).
• Complimentary domestic lounge access: 8 per quarter for Visa Signature variant, 6 per quarter for MasterCard variant.
• No international lounge access benefit is available with this card.
• Up to 20% discount on dining at partner restaurants.
• Personal air accident cover of Rs. 1 Crore (for primary cardholder, applicable only for loss of life due to an air accident).
• Lost card liability cover of Rs. 10 lakhs.
• Joining and Annual Fee: Rs. 3,000 + taxes (waived for Citi Gold account holders).
• Foreign Currency Markup: 3.5%.
• 1% fuel surcharge waiver at authorized Indian Oil fuel stations.
• Interest Rate: 3.75% per month (45% per annum).
• Cash Advance Charges: 2% or minimum Rs. 300.

Other Details

• How to Apply: Applications can be submitted online via the bank’s official website or offline by visiting a Citibank branch.
• Customer Care: For assistance or to report a lost card, contact Citibank’s 24x7 customer care helpline (CityPhone) at 1860 210 2484. Emergency services are available 24x7, while other services are available from 9 AM - 7 PM (Monday - Saturday).