Last reviewed: 10 October 2026. Fees and benefits checked against Axis Bank’s official Citi migration pages, the Axis Bank REWARDS Credit Card terms and conditions, and the Axis Bank credit card MITC.
Important: Citibank’s Indian consumer card business moved to Axis Bank, and Axis says the migration was completed by 15 July 2024. The Citi Rewards card is no longer issued under the Citi name. Existing holders were moved to the Axis Bank REWARDS Credit Card, and the figures below are for that card.
The Citi Rewards credit card was one of Citi India’s best known shopping cards, paying 10 times the base points at apparel and department stores. After the move to Axis Bank, the same idea lives on as the Axis Bank REWARDS Credit Card: 20 EDGE REWARD points per ₹125 at apparel and departmental stores, 2 points per ₹125 elsewhere, and a monthly bonus for crossing ₹30,000 of spend. This review explains what former Citi holders now get and whether the card is worth keeping.
Citi Rewards credit card (now Axis Bank REWARDS): key facts
| Feature | Axis Bank REWARDS (former Citi Rewards) |
|---|---|
| Status | Citi Rewards migrated to Axis Bank REWARDS Credit Card in July 2024 |
| Joining fee | ₹1,000 + 18% GST (Axis T&C and MITC) |
| Annual fee | ₹1,000 + 18% GST; Axis says migrated Citi cardholders kept their existing annual fee |
| Fee waiver | Annual fee waived on ₹2 lakh spend in the card anniversary year (rent and wallet loads excluded) |
| Base reward | 2 EDGE REWARD points per ₹125 |
| Accelerated reward | 20 points per ₹125 at apparel and departmental stores; the extra points are capped at 1,008 a statement month (about ₹7,000 of spend) |
| Monthly bonus | 1,500 points on net spend of ₹30,000 or more in a statement month |
| Welcome benefit | 5,000 points on spending ₹1,000 within 30 days of issue (new cards) |
| Point value | 1 EDGE REWARD point = ₹0.20 as per the T&C earn valuation |
| No points on | Fuel, rent, wallet loads, utilities, insurance, education, government and transport or toll spends |
| Lounge access | 2 domestic visits a quarter at participating lounges |
| Fuel surcharge waiver | 1% on ₹400 to ₹5,000 fills, up to ₹400 a statement month |
| Forex markup | 3.50% |
| Citi point conversion | 1 Citi reward point = 1.75 EDGE REWARD points; pre-migration points never expire |
| Best for | Shoppers who spend ₹7,000 a month on clothing and department stores |
With 18% GST the fee is ₹1,180 a year when it is not waived. Axis’s card menu also labels this card “Lifetime Free”, while the T&C and MITC still list a ₹1,000 fee, so confirm the fee shown in your own offer letter or statement.
What you would actually earn
Example 1: ₹30,000 a month. ₹7,000 at apparel and department stores and ₹23,000 on other eligible spends.
- Apparel: ₹7,000 ÷ 125 × 20 = 1,120 points.
- Other: ₹23,000 ÷ 125 × 2 = 368 points.
- Monthly bonus: 1,500 points.
- Total: 2,988 points a month, or 35,856 a year. At ₹0.20 a point that is ₹7,171.20.
- Annual spend of ₹3.6 lakh clears the ₹2 lakh waiver, so the fee is nil. Net value: ₹7,171.20, about 2% of spend.
Example 2: ₹15,000 a month. ₹3,000 at apparel stores and ₹12,000 elsewhere.
- Apparel: ₹3,000 ÷ 125 × 20 = 480 points. Other: ₹12,000 ÷ 125 × 2 = 192 points.
- No monthly bonus. Total 672 points a month, or 8,064 a year, worth ₹1,612.80.
- Annual spend of ₹1.8 lakh misses the waiver, so the ₹1,180 fee applies. Net value: ₹432.80.
The ₹30,000 monthly bonus does most of the work. Below that level the base rate of about 0.32% is thin, and actual redemption value can differ from the ₹0.20 earn valuation depending on what you redeem for.
Pros and cons
What works
- Strong return on apparel and department store spends up to about ₹7,000 a month.
- 1,500 bonus points every month you cross ₹30,000.
- Citi points carried over at 1.75 EDGE points each and never expire.
- Two complimentary domestic lounge visits a quarter.
What does not
- Points earned after migration expire after three years.
- Long list of excluded categories, including fuel, rent, utilities and insurance.
- Fees on rent (1%), wallet loads above ₹10,000 and utilities above ₹25,000 a cycle.
- 3.75% monthly interest and 3.50% forex markup.
Fees and charges
| Charge | Amount |
|---|---|
| Joining / annual fee | ₹1,000 / ₹1,000 + GST, annual fee waived at ₹2 lakh spend |
| Add-on card | Nil |
| Finance charges | 3.75% a month (55.55% a year) |
| Late payment | Nil up to ₹500; ₹500 up to ₹5,000; ₹750 up to ₹10,000; ₹1,200 up to ₹50,000; ₹1,300 above |
| Cash withdrawal | 2.5% of the amount, minimum ₹500 |
| Over limit | 2.5% of the over-limit amount, minimum ₹500 |
| Forex markup | 3.50% |
| Payment return | 2% of the amount, minimum ₹500 |
| Rent / wallet / utility fee | 1% on rent; 1% on wallet loads of ₹10,000+ and utilities of ₹25,000+ a cycle |
Eligibility and documents
Former Citi Rewards holders were moved automatically, with no new application. Axis’s old eligibility page for this card now redirects to its sitemap, so we could not confirm current age and income rules. For a fresh application, expect Axis to ask for PAN, identity and address proof, and either recent salary slips or the latest ITR, and check the criteria shown during the online application.
How it compares
| Card | Joining / annual fee | Strength |
|---|---|---|
| Axis Bank REWARDS (ex Citi Rewards) | ₹1,000 / ₹1,000, waived at ₹2 lakh | Apparel and department stores, monthly bonus |
| Amex Membership Rewards | A points card from American Express; see our review for fees (Amex has paused new applications in India) | |
| HDFC Pixel Play | Choose-your-category cashback for online shoppers; see our review | |
For a wider view, read our best shopping credit cards guide.
Our verdict
For a former Citi Rewards credit card holder who spends ₹30,000 or more a month, the Axis version is a solid keeper: about 2% back with the fee waived. If your spending is closer to ₹15,000 a month and you rarely shop for clothes, the card barely covers its fee, and a simple cashback card will do better. Redeem older Citi points thoughtfully, since they never expire, but use newer points within three years.
How to apply
Citi no longer issues this card. See the official Axis Bank page on the Citi Rewards card migration for details, and apply for the Axis Bank REWARDS card through Axis Bank’s website.
Frequently asked questions
What happened to the Citi Rewards credit card?
Axis Bank took over Citi’s Indian consumer cards, and Citi Rewards holders were moved to the Axis Bank REWARDS Credit Card when the migration finished in July 2024.
What happened to my Citi reward points?
Each Citi reward point became 1.75 EDGE REWARD points. Points earned before the migration never expire.
Did my annual fee change after the move?
Axis says the annual fee on migrated Citi cards stayed the same, while some other charges now follow Axis Bank’s MITC.
How do I get the 1,500 bonus points?
Spend ₹30,000 or more in net eligible purchases in a statement month. Insurance, wallet, rent and cash withdrawals do not count.
Does the Axis Bank REWARDS card offer lounge access?
Yes, two domestic lounge visits a quarter at participating airports, as per the card’s terms.
This article is for informational purposes only and does not constitute financial advice. Card features and charges can change; check the bank’s official website before applying.
