Citi-Axis credit cards migration completes today: What changes will come into effect?
By Team Asianet Newsable | First Published Jul 15, 2024, 12:27 PM ISTThe FAQ segment of the announcement also highlighted that Axis Bank endeavored to cause little to no disturbance to the current manner that consumers utilize their credit cards.
Axis Bank has announced the completion of the migration process for all Citi-branded card relationships, including credit cards, effective today. Customers have been informed that they will start enjoying the benefits of their new Axis Bank cards on their existing Citi-branded cards from now onwards.
The bank tried to calm customers down by stating that their Citi-branded cards will remain fully functional until they receive their new Axis Bank cards, which would be delivered in the next few months. Axis Bank has been clear that they will continue to give further information on the migration timeline and process whenever necessary.
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The FAQ segment of the announcement also highlighted that Axis Bank endeavored to cause little to no disturbance to the current manner that consumers utilize their credit cards.
The bank also added that "We will ensure that you are duly notified of any changes to this timeline. Once the migration is complete, you can begin to utilise the benefits of your newly issued Axis Bank card(s) on the existing physical Citi branded card(s). Your Citi branded card(s) will remain operational at the same time until you receive your new Axis Bank card(s) in the coming few months after the migration."
The main feature that is to be noted after the migration is that a customer will have a total credit limit for all the Citi-branded and Axis Bank credit cards. However, for those who have a Fixed Deposit (FD) backed credit card with Axis Bank, the credit limit for the FD backed credit card will remain untouched and it will not be clubbed into the overall credit limit available on the unsecured credit cards.
Axis Bank also provided clarity on existing electronic-NACH (e-NACH) mandates for card repayment. The bank will present these mandates to the customer’s bank three days prior to the payment due date to ensure timely credit to the credit card account.
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