Axis Bank Brutal Devaluation of Atlas/Reserve/M4B/Vistara/Samsung/Flipkart/Ace/Airtel/Myzone/IOCL & Other Credit Cards

[TechnoFinoTechnoFino is verified member.]

With effect from 20th April 2024, the following changes will be applicable on your favourite axis bank credit cards.

Magnus for Burgundy - https://www.axisbank.com/docs/defau...onditions-for-magnus-burgundy-credit-card.pdf
Magnus - https://www.axisbank.com/docs/defau...rms-and-conditions-for-magnus-credit-card.pdf
Atlas - https://campaign.axisbank.com/generic/axis-atlas-credit-card-terms-and-conditions.pdf
on atlas welcome benefit has been reduced to 2500 EM . Earlier it was 5000 EM

Vistara Platinum - https://www.axisbank.com/docs/defau...nditions-for-vistara-platinum-credit-card.pdf
Select - https://www.axisbank.com/docs/defau...rms-and-conditions-for-select-credit-card.pdf
Privilege - https://campaign.axisbank.com/generic/axis-privilege-credit-card-terms-and-conditions.pdf
Flipkart - https://campaign.axisbank.com/generic/flipkart-axis-bank-credit-card-terms-and-conditions.pdf
Ace - https://campaign.axisbank.com/generic/axis-bank-ace-credit-card-terms-and-conditions.pdf
Airtel - https://campaign.axisbank.com/generic/airtel-axis-bank-credit-card-terms-and-conditions.pdf
Indian Oil - https://www.axisbank.com/docs/defau...it-cards/indian-oil-axis-bank-credit-card.pdf

Domestic Lounge - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/dlg.pdf
Mile Transfer Program - https://campaign.axisbank.com/generic/miles-transfer-program-credit-card-terms-and-conditions.pdf

In short (what changed):

- Buy-one-Get-one free movie/non-movie ticket offer on BookMyShow will be discontinued.
- 24*7 complimentary concierge services will be discontinued (seems like no one using it).
- Complimentary airport meet & assist services reduced and/or discontinued.
- Gold/Jewelry, Govt. Services, Utilities not eligible for milestone, normal reward points - nothing.
- Domestic lounge access required 50,000 in previous 3 calendar months.
- and more..

For individual card related changes do refer respective pdfs.

 

[Zacobite]

Here are the Changes in Axis ATLAS Credit card effective 20th April 2024:-

1. Spends on government services, utilities, gold/jewellery, rent, wallet, insurance and fuel will not be eligible for EDGE Miles earn, milestone achievement calculation and Tier evaluation.
2. Capping on earning 5 EDGE Miles for every Rs. 100 spent on TRAVEL EDGE , airlines and hotels up to cumulative transactions of Rs. 2,00,000 per month.
3. Earn 2 EDGE Miles per Rs. 100 spent above cumulative transactions of Rs. 2,00,000 per month.

4. Get up to 10,000 EDGE Miles as milestone benefit on achieving spends milestone:
​ Spends Milestone( in Rs.)​ Number of EDGE Miles​ On Rs. 3,00,000 spends​ 2,500​ On Rs. 7,50,000 spends​ Additional 2,500​ On Rs. 15,00,000 spends​ Additional 5,000​
5. Get up to 5000 EDGE Miles as annual Benefit basis tiers:
​ Cardholder tier​ Number of EDGE Miles​ Silver(Base)​ Not Applicable​ Gold​ 2,500​ Platinum​ 5,000​

6. Total EDGE Miles that can be transferred to partner points in a calendar year will be capped at 1.5 Lakh in a calendar year.
7. Maximum of 30,000 EDGE Miles to partners in Group A and Maximum of 1,20,000 EDGE Miles to partners in Group B. (https://campaign.axisbank.com/generic/miles-transfer-program-credit-card-terms-and-conditions.pdf)
8. Airport Meet & Assist, airport transfer and 24*7 complimentary concierge services will be discontinued.

brutal? no way mindless, foolish myopic decision.. they paid millions for citibank.. what will they give them.. disgusting approach by axis.. after all the grief to the atlas customers last week... CRM is dead.. will hurt them badly.. cost of new csm acquisition is so high.. and you are driving away your existing ones...

 

[Gaara]

Thanks will discuss on this after Strom.
Looks like i have to put more money in hdfc now 💀

I'll stick to MB+ no IOCL 😂

 

[BhaiyaJi]

AXIS burning credit cards after looking at the rewards abusers are getting.

 

[MrWick]

What they did to IOCL I was considering it @DocFixIt

Axis Bank IOCL also devalued🥲

Forget all others devaluations this is the funniest of them all😂😂

Annual fee waiver criteria has been increased to ₹3,50,000🤣💀

 

[abhi2992]

insurance and jewelry not part of CV points and milestone effective April 20th 2024

 

[zaid_2913]

Why cancel? U anyways have this year.

It's best to avoid Axis as much as possible. I don't want to support their business. Doing my part.

 

[NShah]

 

[Vasuki]

I'll stick to MB+ no IOCL 😂

I will post seprate .. iocl isn't too much destroyed other than fees reversal

 

[akhil73]

Thats why I got my LTF Myzone today 😉

View attachment 46652

I was thinking to skip it.. but will have to take it now for offers

 

[BrokenBoot]

it was their clear strategy to approve as much mid range paid cc they can, as i noticed so many people were getting ace gpay offer and Flipkart approval , to devalue them hard at CORRECT TIME so that many cancel it within first month of paying joining fee

 

[BhaiyaJi]

Axis Bank IOCL also devalued🥲

Forget all others devaluations this is the funniest of them all😂😂

Annual fee waiver criteria has been increased to ₹3,50,000🤣💀

Just open a petrol pump next to a current one, transfer 3.5L worth of petrol and sell at 1% discount to save on annual fees. 🤣

 

[Rajat94]

3. Earn 2 EDGE Miles per Rs. 100 spent above cumulative transactions of Rs. 2,00,000 per month

Does that mean spends upto Rs. 2 LAKH do not earn 2 Edge mile per Rs. 100?

 

[kshitij_0]

Thats why I got my LTF Myzone today 😉

View attachment 46652

Main apna Myzone band na karaun kya? Abhi retention ka call nahi aaya hai
Atlas ke liye band karwa raha tha
Ace aur Flipkart LTF hai already. Kuchh tips do bhai. Atlas apply karne se limit 3 lakh se 6.5L ho jayegi ek fayda hai

 

[devine_mortal]

sbi hdfc scb amex will have a good year end..if they are aggressive to leverage this anti axis sentiment

What leverage? Amex has already devalued their cards earlier this month. I think all these banks conduct a secret meeting and devalue the cards together. Ab jao kahan jaoge.

 

[Vasuki]

View attachment 46659

Abhi khatam kha hua hai
.
From when these devaluation are active?
Bc my samsung infinte point will come within 30 days.
Will i be able to redeem it on previlgae thats my only concern rn 😁

 

[NShah]

@VISHESH_BANSAL @4uziaul @jack333 @D₹V @Chaitanya-a @pprakash11

Kidhar ho idhar Party ho rahi hai 🤣🤣🎉

 

[SSV]

Always one step ahead. I like this.

see my comments about AXES and its values , or lack there of.. only last week...

AXES didn't disappoint me, it perfomed exactly as I expected ... 😉

HDFC offering Infinia against investment - is it worth it?

Same will be the case with Infinia Reserve too when it is launched. Its a money making business after all. Banks cannot just give you lucrative offers if they are not getting anything in return. You give some and you take some is the moral of the story. But here the question is what is that...

www.technofino.in

 

[Zacobite]

What leverage? Amex has already devalued their cards earlier this month. I think all these banks conduct a secret meeting and devalue the cards together. Ab jao kahan jaoge.

what devaluation in amex? agv limit?

 

[SplendorSuperman]

SELECT, ACE ATLAS , SAMSUNG, FK, VISTARA, IOCL, RESERVE, MAGNUS, Burgundy AND AIRTEL.. ALL DEVALUED TODAY..Year End Bonanza by Axis Productions..

Privilege also devalued.

 

[BhaiyaJi]

Does that mean spends upto Rs. 2 LAKH do not earn 2 Edge mile per Rs. 100?

Its 1 Edge mile post 2L spends