At the end of 2014, Citibank made a decision that they wanted to devalue their PremierMiles a bit. A whole lot actually. So, they are moving the 1 PremierMile = 1 Airmile equation to 2 PremierMiles = 1 Airmile, bringing it to the valuation that American Express offers (2 MR = 1 Airmile). All good things come to an end, and here are my thoughts on why this happened.
At this point of time, the moment of choice is here and there are four paths to take. You can do either of the following:
- Continue as is with your PremierMiles card, earn 10 PM/INR 100 for airline purchases and 4 PM/INR 100 for everything else. You are essentially earning 5 airmiles/INR 100 on airlines and 2 airmiles/INR 100 for everything else.
- You can use your PremierMiles at INR 0.50 for redemptions till January 31 and for cash value of INR 0.45 from then onwards.
- You can transfer your miles to an air mileage program which participates with Citi PremierMiles at 1:1 before January 31, 2015 to get the most bang from your buck. However, your miles are now subject to the terms & conditions of the program transferring into.
- You can upgrade your PremierMiles card to a Prestige card, get double mileage from what you have, all for a price of INR 20K.
I did do a short assessment of some of the programs which would make good options to convert your Premiermiles, and they are all here. There is also Delta SkyMiles which I wanted to cover as a program, but just no time to do that:
- PremierMiles to Etihad Guest conversion
- PremierMiles to Air India Flying Returns conversion
- PremierMiles to Singapore Airlines KrisFlyer conversion
- PremierMiles to British Airways Avios conversion
As for me, I chickened/panicked or whatever you want to call it, and I upgraded to Prestige, so I have two Prestige cards now. I don’t know how to justify it to myself, but I guess I’ll be able to justify it with the following: 10K stay vouchers, 10K miles, 6K Etihad bonus miles on 1 transaction, 5K Avios and of course the whole lot of golf games that will come along.
What are you doing about your PremierMiles Card and balances?