Citibank doubling miles on PremierMiles to Prestige conversion

I have to admit I love it how things work out sometimes. I’m a Citibank PremierMiles fan, and I have been one since November 2011. We’ve had a little bit of our love hate in 2012, but I’ve come to terms with it and moved on to live with the new reality ever since. Now, I’ve earned a lot of PremierMiles over the years, but the only true redemption I’ve made has been last year, when I flew Singapore Airlines LAX-SIN-BOM in Business Class with them. Otherwise, the PremierMiles just lie in my account, and I transfer them whenever needed, since they never expire.

Anyhow, so, last month I finally decided to apply for the Prestige, which I’ve loved since I’ve heard about it. However, I already have the most number of Citibank credit cards they’d allow to be issued in India (2), with a Citibank PremierMiles Visa and Citibank PremierMiles MasterCard in my wallet. Citi advised to convert one of the existing cards into the Citi Prestige, and I gave them my go ahead. At that point of time, I was advised that Citi would convert points in the ratio 2 PremierMiles = 1 Prestige Point for me, and that was a gimme.

When the new package arrived, it had a conversion chart inside as well, which detailed how point conversion would take on from earlier cards. Now, here is how it looks.

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You know the beauty of this? While Citibank PremierMiles transfers to various airmile programs at 1 PremierMile = 1 Airmile, with conversion to Prestige, 1 Prestige Point converts to 4 Airmiles. Hence, with this move, they’ve doubled the number of miles in my account.

On the sideline, I had to give away some of my PremierMiles which I was going to earn due to the International Spend promo, but I guess I made up for it more than enough with this arbitrage opportunity. And yes, I still do have my Citibank PremierMiles Visa in my pocket which I will continue to use to book most of my air travel over the years ahead.

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  1. Folks owing the the recent devaluing of the CITI PM Card, should it be sensible enough for me to switch to Citi Prestige Card? Considering that I have > 3 lakh miles accumulated as PM?

    • @Manish not true. While your PM card is valid, it still hits your new account as Prestige and the points are awarded accordingly.

  2. Citi had offered me a free for life PM card when I converted from Citi Jet Airways card back in 2012. Any idea would they still charge me for Prestige if I choose to convert?

  3. I think that spending 10L on the SBI-Air India card would be money better spent…doesn’t look like Jet will be around much longer!

  4. @KRISHNAKUMAR You can apply for Jet HDFC World card and spend 10 lacs/month and you will be Jet Plat within 12 months without even taking a single flight!

  5. I just called Citi now and they were willing to do the conversion provided:

    1. You have an IT return showing an income of at least 40 lakhs.

    2. That they convert the existing PM card into the Prestige.

    I was asking them if I could then apply for another PM card (Visa version) BEFORE doing the conversion and they said no I could not. (While other friends have done so – amazing!)

  6. 🙂 I can imagine the sense of happines. Btw, when would you use premier miles in favour of prestige unless for reasons such as hitting the credit limit

  7. @Ajay Will be waiting on that.

    If you could confirm, it seems conversion is allowed only in case of upgrade, they would not allow active conversion from 1 card category to another (i.e. from 1 active PM card to 1 active prestige card)

  8. Great news! You reckon there is some upper limit for conversion. Coz with this I could b a mile millionaire! 🙂

    Also if i apply for the prestige, will I get to keep the PM card or it will be cancelled?
    For now I just have 1 Citi card ie PM Visa.

    I would gladly apply for the prestige using your referral if you could provide me 1.

    • @Aman no upper limit for conversion AFAIK. You can have two different cards with Citi though how their Risk Management looks at it is very individual. I upgraded one PM to Prestige and hence I have both. I am not sure if they are doing referrals for the Prestige but I will get back to you.

  9. Is the conversion of 1 prestige point into 4 miles is a standard ratio or a limited period offer?
    If it is a standard ratio then I shall wait for the credit of International Promo Spend points into my PM account and shall apply for Prestige card thereafter. What do you say?

    • @Krishnakumar it is a standard feature. in my case, I was in a hurry to get the prestige because I can’t have a day without a Priority pass just in case I need to travel.

  10. I am not sure how this works. So if I have 100,000 premier miles. when I transfer to the Prestige card, I get 50000 points, and then when I transfer it say to Kris FLyer, I end up with 200,000 miles. sounds good if this is the case. This could be the only reason for me to upgrade to the Prestige card.

    • @aaron you got it exactly right. And yes, when you make your first transaction on the prestige you get another 2500 points -> 10000 miles + a voucher for Taj or ITC as per your choice.

    • @krishnakumar there is no joining fee but annual fee of 20K. Billed. I don’t see why should it not be paid.

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