Devaluation Axis Atlas Credit Card Huge Devaluation Effective From 20th April 2024

[TechnoFinoTechnoFino is verified member.]

It’s time for Axis Atlas now! Axis Bank has announced a brutal devaluation of its Atlas Credit Card.

Here are the changes:

Revision of spend categories considered for EDGE Miles earn, Milestone spends & Tier Calculation:

Normal Spends: Spends done on gold/jewellery, rent, wallet, government institution, insurance, fuel and utilities will be excluded from EDGE Miles earning.
Milestone & Tier: Spends threshold for Milestone achievement and Tier evaluation will exclude transactions done on Gold/ Jewellery, Rent, Wallet, Government Institution, Insurance, Fuel, and Utilities merchants.

Capping on Accelerated EDGE Miles earned on Travel merchants:
Earn 5 EDGE Miles for every Rs. 100 spent on Travel EDGE, airline and hotel merchants up to cumulative transactions of Rs. 2,00,000 per month.
That means you can earn maximum 10,000 EDGE Miles from accelerated categories.
Then earn 2 EDGE Mile per INR 100 spent on cumulative transactions above Rs. 2,00,000 per month on Travel EDGE, airline and hotel merchants.

Revision of Milestone benefits:
Up to 10,000 EDGE Miles will be credited to cardholders’ EDGE Miles account upon achieving spends milestone. EDGE Miles credit will be as per the following:

Spends Milestone (in Rs)	Number of EDGE Miles
On Rs. 3,00,000 spends	2500
On Rs. 7,50,000 spends	Additional 2500
On Rs. 15,00,000 spends	Additional 5000

Revision of Annual benefit:

Up to 5,000 EDGE Miles will be credited to cardholders’ EDGE Miles account upon payment of Annual fee of Rs 5,000 and basis the current tier the customer is in. EDGE Miles credit will be as per the following:

Cardholder tier	Number of EDGE Miles
Silver	Not Applicable
Gold	2,500
Platinum	5,000

Revision of EDGE MILES redemption & MILES Transfer Program:

Total EDGE MILES that can be transferred to Partner Points in a calendar year is capped to 1,50,000 EDGE MILES per customer ID. For the year 2024, customer can convert 1,50,000 EDGE Miles from 20th April 2024 – 31st December 2024. From next year onwards, capping will be applicable from 1st Jan’25 to 31st Dec’25
All existing MILES transfer partners are divided in two groups (Group A & Group B). For redemption through Miles Transfer Program, the customer will be able to transfer maximum of 30,000 EDGE Miles per customer id cumulatively to partners in Group A and maximum of 1,20,000 EDGE Miles per customer id cumulatively to partners in Group B in a calendar year.

Following ATLAS Credit Card features will be discontinued:

1. Tier based benefit of Airport Meet & Assist and Airport Transfer Services.
2. 24*7 complimentary concierge services.

No doubt, the Axis Atlas credit card was one of the most rewarding air miles-focused credit cards. However, after this brutal devaluation, I can’t say the same thing about Axis Atlas. Still, it’s a very good card for international spends and travel bookings, as the capping on travel categories is decent enough for a normal person.
I think removing the utility category will hurt customers the most. Almost all customers pay their utility bills every month, and because of this step, customers will not be able to earn EDGE miles on their utility spends. It's strange that Axis excluded utilities, insurance, wallets, government payments, and a few more essential categories but did not exclude education payments. Very strange.

Jokes apart, Axis Atlas is still a very good card for travel bookings and international spends. But again, after all this Axis Bank drama every week, whether it's devaluation or card cancellation, will you be able to trust Axis Bank? I won't. I don’t recommend using an Axis Bank card as your primary card as long as they don’t stop this ongoing weekly circus.

 

[Shubham Mishra]

I will hit 7.5 lac by early April, Will I get 2500 miles or 5000 miles considering it takes them time to credit?

 

[isunil1612]

I will hit 7.5 lac by early April, Will I get 2500 miles or 5000 miles considering it takes them time to credit?

I am also on the same boat. Targeting to complete 7.5L milestone by early April with an understanding that milestone should give 5K points. The bonus points for 3L milestone came pretty quickly, so hopefully this should also come before D day.

 

[ccTimeBaby]

I am also on the same boat. Targeting to complete 7.5L milestone by early April with an understanding that milestone should give 5K points. The bonus points for 3L milestone came pretty quickly, so hopefully this should also come before D day.

Yes, for me too the bonus for 3L milestone came quickly - even before the edge miles for transaction that helped me reach that milestone.

 

[CARDBITRAGE]

Damn. I was expecting all this, but the revision in renewal benefit and the cap in transfers was unexpected. Still a great card for my travel spends.

 

[rogerthat]

Earn 2 EDGE Miles on every Rs. 100 spent* (1 EDGE Mile = Re. 1) and redeem it across travel and hotel partners via miles/points transfer program.

Question: Does this mean that the 1:2 Miles transfer ratio for Atlas is now 1:1?

 

[CARDBITRAGE]

Earn 2 EDGE Miles on every Rs. 100 spent* (1 EDGE Mile = Re. 1) and redeem it across travel and hotel partners via miles/points transfer program.

Question: Does this mean that the 2:1 Miles transfer ratio for Atlas is now 1:1?

It was always 1EM=1RS. The transfer ratio was 1:2. Hopefully it will remain so.

 

[rogerthat]

It was always 1EM=1RS. The transfer ratio was 1:2. Hopefully it will remain so.

Yeah sorry, 1:2 I meant. However, I am sure they will realise that people are still using Atlas a couple of months down the line, and they will then pull a Magnus and destroy the card completely so that anyone else left will abandon the card.

And then, Axis goal of losing all their high-spending HNI customers will be complete and they will be left with defaulting crooks and chapris who will never pay their dues and just abscond.

 

[Walter White]

Education spends abhi bhi bacha hai 😛

 

[Niekket Walke]

This devaluation is actually brutal. I use to get points for every fuel spend above 4k, now that is gone plus these spends wont be counted for milestones. Pathetic!
Which Airlimes focussed card can we now target which is similar to Atlas?

 

[PSC_Infinia]

Post on Twitter 🤣

 

[maverickgenius]

I will hit 7.5 lac by early April, Will I get 2500 miles or 5000 miles considering it takes them time to credit?

I am also on the same boat. Targeting to complete 7.5L milestone by early April with an understanding that milestone should give 5K points. The bonus points for 3L milestone came pretty quickly, so hopefully this should also come before D day.

I'm also in a similar situation. Will reach 7.5 lakh milestone in a few days. But no clarity on whether Axis will give 5k miles, though I think they should as the deval PDF says effective 20th Apr 2024 only.

If any of you reach the milestone and get the milestone credit, do post here. I will also do if I reach my milestone earlier.

 

[navam]

Guru what does this line mean -
earn 2 EDGE Mile per INR 100 spent on cumulative transactions above Rs. 2,00,000 per month on Travel EDGE, airline and hotel merchants

Yeh above 2 lakh nahi samajh aaya, do they mean to say besides/outside of the 2 lakh spent on travel stuff, you get 2 for every hundred (like what happens today )
Or are they saying ki 2 per 100 milega after your cumulative spend is above 2 lakh?

 

[rogerthat]

Guru what does this line mean -
earn 2 EDGE Mile per INR 100 spent on cumulative transactions above Rs. 2,00,000 per month on Travel EDGE, airline and hotel merchants

Yeh above 2 lakh nahi samajh aaya, do they mean to say besides/outside of the 2 lakh spent on travel stuff, you get 2 for every hundred (like what happens today )
Or are they saying ki 2 per 100 milega after your cumulative spend is above 2 lakh?

You will get 5 EM per 100 up to Rs.200,000 of spends on hotels + airlines + travel edge. For spends on hotels + airlines + TE after Rs.200,000 you will get 2 EM per 100 like for normal spends.

 

[rogerthat]

You

I'm also in a similar situation. Will reach 7.5 lakh milestone in a few days. But no clarity on whether Axis will give 5 miles, though I think they should as the deval PDF says effective 20th Apr 2024 only.

If any of you reach the milestone and get the milestone credit, do post here. I will also do if I reach my milestone earlier.

You should get miles credited later for milestones reached before devaluation cutoff. Remember Magnus August bonus ERs that got credited in November, two months after devaluation?

 

[S D S]

So there's a change in conversion too, 5:2 now to transfer partners for the Burgundy variant 🙈

 

[rogerthat]

So there's a change in conversion too, 5:2 now to transfer partners for the Burgundy variant 🙈

Wait, what? How?

 

[S D S]

A customer care executive told me, I told her to mail me because it was not in revision message I got last night.

 

[maverickgenius]

You

You should get miles credited later for milestones reached before devaluation cutoff. Remember Magnus August bonus ERs that got credited in November, two months after devaluation?

Yeah, I do remember what you are mentioning for Magnus. However, at that time, Axis had clearly specified in the PDF that Aug 25k edge rewards will be posted by Nov. Now in case of Atlas, that clarity is absent.

 

[Deleted member 28970]

I will hit 7.5 lac by early April, Will I get 2500 miles or 5000 miles considering it takes them time to credit?

I am also on the same boat. Targeting to complete 7.5L milestone by early April with an understanding that milestone should give 5K points. The bonus points for 3L milestone came pretty quickly, so hopefully this should also come before D day.

Can u clear me that if let’s assume I’m in silver tier and in a current yr i spent only 4L … so upon renewal by paying 5900 fees I’ll be not getting a single edge mile ?????