50% bonus on Citibank Premier Miles credit card


A quick one...Citibank is offering a 50% bonus on spends made on the Citibank PremierMiles credit card. I've not written about this card per se, but the PM card entitles you to "miles" on spends, which can be converted for airline tickets. If you already have this card, you can now earn the 50% bonus between 1 August and 30 September 2013. For this, you will need to register your card for this offer, by going to their registration site, here. At the moment, this looks like a targeted offer - you will know if you try and register with the above link, and it throws up an error. UPDATE: I now have confirmation that this is NOT a targeted offer.


If you haven't heard about this card...

This card works a bit differently from most airline co-branded credit cards (such as the ICICI or HDFC Jet Airways credit card). With the PM card, your miles are not exclusive to one airline. As a matter of fact, except for Jet Airways (with whom Citibank had a tie up earlier for a co-branded card), tickets can be redeemed on virtually any airline. That's because Citibank values each Premier Mile at Rs 0.50 per mile, and "purchases" the ticket for you by using up your miles. The optical positive here is also, that the taxes are included!!!

Earning is usually at 4 miles per Rs 100 on non-airline transactions, and 10 miles per Rs 100 spent on specified airline transactions. Citi also keeps offering bonuses, additional miles, etc, on a periodic basis, which does help. There's a sign-on bonus of 10k miles as well. Miles can be redeemed, as I mentioned above, for purchasing tickets, or even transferred to a FFP of any of their partner airlines.

More info here.

My opinion

This is actually a great product, mainly because it doesn't restrict your redemption options to one or even a handful of airlines. Also, the redemption value per mile is consistent with Indian standards (read JetPrivilege miles). And the periodic bonuses are worth the while. Just remember, this card by itself won't give you any other privileges such as airport lounge access, or special discounts, deals, etc.

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