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Will the Citibank Credit Cards Features Get Affected once it is Sold?


In mid-April, Citigroup has announced that it will shut its retail banking operations in 13 different countries and India is also a part of it. It is one of the global business strategies of Citibank and it is looking for buyers in India who will buy its credit cards business. So, the decision of selling the Citibank Credit Cards business has created a panic among the Citibank Credit Cardholders. There are many questions that are coming up in the mind of these credit card users. Therefore, we will clear all the doubts you are having after Citigroup’s decision. You can see the effects that might occur on the features, benefits, and reward points of your Citibank Card.

Things Might Happen when a New Acquirer Comes in

There are some possible things that a new acquirer might change in the features and benefits of the Citibank Credit Cards.

Reduction in Reward Point Value

The new acquired might reduce the value of the reward points earned through the Citibank Credit Cards. If we talk about history then Yes Bank has recently reduced its reward point value so this might happen in the case of Citibank Credit Cards because the new acquired might set new rules. It wholly depends on the acquisition of the Citibank Credit Card Business.

No Reward Points on Utility Bill Payment

There are some chances that the acquiring bank might remove the offer of earning the reward points on various transactions like mobile wallet recharges, utility bill payments, or many others. The acquirer will decide the offers and benefits on the credit cards.

Expiry of Reward Points

The acquirer might set up an expiry date for reward points you already have in your account. Therefore, it is better to utilize all your reward points before any such notification comes in. Usually, there is no expiry of reward points but the acquirer might set an expiry date.

Reduction in Credit Limit

The acquiring bank might reduce the limit of your Citibank Credit Card by 20% to 30% on the basis of repayment history in the past 6 months or one year. But if you make all the payments timely and none of the payments are skipped then your credit limit of the Citibank Credit Card might be revised. The acquiring bank will reduce your credit limit if you have a poor credit history.

Key Points for Citibank Credit Card Users

  • Don’t become a defaulter or skip your Citibank Credit Card payment because it might affect your credit score and it will be difficult for you to apply for any loan in the future.
  • If you exit from Citibank and your credit card is transferred to another bank then it won’t affect your Credit Score.
  • Make sure that you utilize all your reward points before any new acquirer acquires the Citibank Credit Card business.
  • If you are thinking that Citibank Credit Card Business is leaving India and you will not have to pay the outstanding amount of your credit card then you are just affecting your credit score because your credit history will be unclean.

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