Absolutely gutted! Citibank Premier Miles devalued
Things were good till earlier today, and I was looking forward to a rather happy new year. Part of my plans for 2015 was to earn more Citibank Premier Miles over JP miles (I don't yet have an AI SBI card ). However, all of those plans came crashing down this morning, after an email I received from Citibank, highlighting key changes to the program. As with any good marketing spiel, it started off with how the Citi PM card is getting better with the ability to now redeem Citi PMs for merchandise...because that's what users have wanted to do always??? The upshot of the email, which is of more interest to us points and miles people is: Firstly, there's a 10% devaluation on award tickets. This means that 1 Citi PM which was previously worth Rs 0.50, is now worth only Rs 0.45. Which means you need to spend more - about 11% more - points for the same award ticket. That makes JP miles even more valuable , at the moment . Secondly, and more importantly - transfer ratios to ot...