Why Jim Cramer Likes Citigroup Over JP Morgan Chase

Jim Cramer says he likes JP Morgan Chase (JPM) - Get Report , but favors Citigroup (C) - Get Report even more.

"The reason why I like Citi is because the book value is $64, [which means] they can buy stock and it is accretive up to $64," Cramer said recently in an exclusive conference call with members of his Action Alerts PLUS club for investors.