Citibank to AxisBank

[xaidi]

So, I'm assuming a lot of you guys like myself would have banking with Citibank (I have a salaried account). Today I received my Axis Priority chequebook.

I'm hoping that you guys could help me out a little. I'm not that hopeful with Axis Bank and haven't been a fan of their service while using their credit cards. Having said that, should I keep the axis account, or move over to some other bank (please also suggest alternatives)

Additional Info: Net Salary: 1.8 lpm

 

[PavanPavan is verified member.]

Am not great fan of HDFC salary account 🙁 but as of today i feel axis is not reliable

 

[HumorSimpson]

Am not great fan of HDFC salary account 🙁

Why. .. ?

 

[shashank08]

is there any point to burgundy anymore? m4b is basically dead... besides I would like to know how they decide too. Have not received anything so far

Burgundy debit card still provides some benefits like BMS 1+1 (for both movie and non-movie and you can only get 1 free ticket after recent devaluation) and some lounge access (you need to spend 5K in last quarter to get that benefit after recent devaluation).

But I am more concern about maintaining the AMB after transition completion. Right now I just need to maintain 1L as TRV but for burgundy 5L AMB will be required.

 

[Zacobite]

So, I'm assuming a lot of you guys like myself would have banking with Citibank (I have a salaried account). Today I received my Axis Priority chequebook.

I'm hoping that you guys could help me out a little. I'm not that hopeful with Axis Bank and haven't been a fan of their service while using their credit cards. Having said that, should I keep the axis account, or move over to some other bank (please also suggest alternatives)

Additional Info: Net Salary: 1.8 lpm

Same here.. and AMB on axis priority revised.. salary account shd be fine i guess.. use basix banking and keep main banking elsewhere

 

[_amit_]

today received Burgundy cheque book for my Citibank account.
I am holding Citibank's Priority world debit card.

Right now I need to maintain 1L AMB in my citibank account but as Burgundy require 5L AMB so I am not sure whether in future I need to maintain 5L AMB.

Is there any logic Axis bank is considering in deciding which Citibank account will go to Burgundy and which will go to priority etc?

High variant programs makes sense when they are accessible via salary route (which i think is applicable here) or if someone has money lying around.

Burgundy is not beneficial via savings account route, not even priority now which has gone recent changes.

Keep banking simple with low or non maintainance accounts.

 

[kskds]

today received Burgundy cheque book for my Citibank account.
I am holding Citibank's Priority world debit card.

Right now I need to maintain 1L AMB in my citibank account but as Burgundy require 5L AMB so I am not sure whether in future I need to maintain 5L AMB.

Is there any logic Axis bank is considering in deciding which Citibank account will go to Burgundy and which will go to priority etc?

If your Citibank account was a salary account then why you need to maintain AMB in Axis Bank after migration, unless you change your salary credit to different bank? For salary upto 3L, they will move you to 'Priority Account', if the net salary is >3L then you will get Burgundy Account.

 

[shashank08]

If your Citibank account was a salary account then why you need to maintain AMB in Axis Bank after migration, unless you change your salary credit to different bank? For salary upto 3L, they will move you to 'Priority Account', if the net salary is >3L then you will get Burgundy Account.

No I dont have citibank as my salary account bank. It was earlier but no more a salary account.

 

[Sudip]

So in a nutshell, each bank wants to sell loan, ULIP, do FD's; seeing this it feels like to open salary account in SBI. I assume SBI won't bother at all or bother very less.

 

[_amit_]

Credit and debit products is what banking is.

And, SBI does this too.

 

[Trust Me]

Burgundy is not beneficial via savings account route, ....

Burgundy is nothing special through any route. 🙂

 

[Anil35677]

Holding Citibank Credit card two, which is 8 and 7 years old these are my first cards.
Recently it’s migrated to Axis Bank, now this card's annual fees are 1000, and there are not many offers on these cards to hold.
Will the credit score be impacted by upgrading/downgrading these cards?

 

[lightwaves]

Holding Citibank Credit card two, which is 8 and 7 years old these are my first cards.
Recently it’s migrated to Axis Bank, now this card's annual fees are 1000, and there are not many offers on these cards to hold.
Will the credit score be impacted by upgrading/downgrading these cards?

1. How many cards do you hold?
2. What’s their age?

 

[Anil35677]

1. How many cards do you hold?
2. What’s their age?

almost 8 cards, First 2 cards from Citibank one is 8 years and other is 7 years , rest of the cards age 5+..

 

[lightwaves]

almost 8 cards, First 2 cards from Citibank one is 8 years and other is 7 years , rest of the cards age 5+..

Your credit age is more than 5 years. So after closing your oldest card, the score will dip for a few days and will be back to where it is before closing in a few days. We’ve discussed this scenario in a different thread. Will link it below and you can go through it.


Post in thread 'Closing ICICI Credit card'
https://www.technofino.in/community/threads/closing-icici-credit-card.28486/post-729570

And there’s a great thread from @SSV garu on how to improve CIBIL you can go through this as well and make a decision
Post in thread 'CIBIL Score - A Practical Guide'
https://www.technofino.in/community/threads/cibil-score-a-practical-guide.29167/post-729607

 

[Anil35677]

Your credit age is more than 5 years. So after closing your oldest card, the score will dip for a few days and will be back to where it is before closing in a few days. We’ve discussed this scenario in a different thread. Will link it below and you can go through it.


Post in thread 'Closing ICICI Credit card'
https://www.technofino.in/community/threads/closing-icici-credit-card.28486/post-729570

And there’s a great thread from @SSV garu on how to improve CIBIL you can go through this as well and make a decision
Post in thread 'CIBIL Score - A Practical Guide'
https://www.technofino.in/community/threads/cibil-score-a-practical-guide.29167/post-729607

Thank you for the reply.