Switching from one credit card issuer to another can be a strategic move for financial benefits. Many credit cardholders look to convert their existing Citi credit card to an Axis Bank credit card for better rewards, lower fees, or enhanced features. If you’re considering making the change, it’s essential to understand the conversion process, eligibility criteria, and key benefits. In this detailed guide, we will walk you through everything you need to know about converting your Citi credit card to an Axis Bank credit card, from the requirements to the benefits you can enjoy.
Why Consider Converting to an Axis Bank Credit Card?
Before diving into the conversion process, it’s crucial to understand why switching from a Citi credit card to an Axis Bank card can be a great decision.
1. Better Reward Programs
Axis Bank offers a wide variety of credit cards tailored to different spending patterns, each with competitive reward programs. Whether you are into travel, dining, shopping, or entertainment, Axis Bank provides credit cards that cater to these preferences, often with higher reward points compared to Citi cards.
2. Lower Annual Fees
Axis Bank offers a range of credit cards with varying annual fees, many of which are relatively lower than what Citi charges on their premium cards. Lower fees mean more savings in the long run, especially if you are not utilizing all the benefits of your Citi credit card.
3. Enhanced Benefits and Features
Axis Bank cards are known for their comprehensive features such as fuel surcharge waivers, milestone benefits, exclusive discounts, and access to airport lounges. These features may provide added convenience and value compared to your Citi credit card.
4. Customizable Card Options
Axis Bank allows you to choose from a range of credit cards, allowing you to select one that best suits your financial goals and lifestyle. Whether you are looking for cashback, travel rewards, or shopping perks, Axis Bank has a variety of cards to meet your needs.
5. Strong Customer Support
Axis Bank is known for providing excellent customer service, making it easier for cardholders to resolve issues promptly. The bank offers multiple channels of communication, ensuring you can access support whenever needed.
Steps to Convert Your Citi Credit Card to an Axis Bank Credit Card
While direct conversion from a Citi credit card to an Axis Bank credit card isn’t a standard process, you can still achieve your goal by following these steps.
1. Check Eligibility for Axis Bank Credit Card
Before initiating the process, you need to check whether you are eligible for an Axis Bank credit card. Axis Bank typically requires the following:
- Minimum Age: The applicant must be at least 18 years old.
- Income Requirements: You must meet the minimum income criteria set by Axis Bank. This varies based on the type of card you wish to apply for.
- Good Credit Score: A healthy credit score of 750 or above is generally required to qualify for an Axis Bank credit card.
If you meet these criteria, you can proceed to the next step.
2. Choose the Right Axis Bank Credit Card
Axis Bank offers a wide range of credit cards designed for different needs. Here are some popular types of Axis Bank credit cards:
- Travel Cards: Ideal for frequent travelers who want to earn air miles and enjoy lounge access and other travel-related perks.
- Cashback Cards: These are perfect for those looking for straightforward cashback on everyday spending.
- Dining and Shopping Cards: Designed for individuals who spend a lot on dining and shopping, offering discounts and rewards.
- Premium Cards: For those who want the best in luxury, offering exclusive services and high reward rates.
Take time to research and select a card that offers benefits aligned with your spending habits.
3. Apply for the Axis Bank Credit Card
Once you have chosen the credit card that suits your needs, it’s time to apply. You can apply for an Axis Bank credit card in the following ways:
- Online Application: Visit the official Axis Bank website and fill out the online application form. Make sure to provide accurate details regarding your income, employment, and other personal information.
- In-Branch Application: If you prefer a more personal touch, visit an Axis Bank branch and submit your application in person. A relationship manager can guide you through the process and help you choose the best card.
- Through Phone Banking: If you are an existing Axis Bank customer, you can apply via phone banking by calling the bank’s customer service.
Ensure that all documents, including proof of income, identity, and address, are submitted along with your application.
4. Close Your Citi Credit Card
Once your Axis Bank credit card is approved and activated, you may want to close your Citi credit card to avoid unnecessary fees. However, before closing your Citi card, consider the following:
- Check for Pending Bills: Make sure there are no outstanding balances or pending payments on your Citi card.
- Clear All Dues: Pay off any remaining dues to avoid interest charges.
- Request a No Dues Certificate: Once all dues are cleared, request a no dues certificate from Citi. This ensures your credit history remains clean.
- Cancel the Citi Card: Contact Citi customer care and request the cancellation of your credit card. Ensure that you get a written confirmation of the card cancellation.
By following these steps, you can successfully convert your Citi credit card to an Axis Bank credit card.
Things to Keep in Mind Before Making the Switch
Impact on Credit Score
When you switch credit cards, there may be a temporary dip in your credit score, as applying for a new card results in a hard inquiry on your credit report. However, if you manage your Axis Bank card responsibly, it can help improve your score over time by maintaining a low credit utilization rate and making timely payments.
Ensure You Don’t Have Any Overlapping Fees
Before applying for your new Axis Bank credit card, carefully compare the fees and charges of both cards. Sometimes, credit cardholders may experience overlapping fees (like annual fees or joining fees) when they hold multiple cards. Make sure you are comfortable with the fees associated with your new Axis Bank card.
Leverage the Benefits of Both Cards
If you are not yet ready to close your Citi credit card, you may choose to hold both cards for a while. This way, you can leverage the benefits of both—Citi’s rewards and Axis Bank’s features—until you feel confident in switching completely.
Avoid Late Payments
When managing multiple credit cards, it’s important to stay on top of due dates to avoid late payment penalties and maintain a positive credit score. Set reminders for both your Citi and Axis Bank card payments to ensure you don’t miss any deadlines.