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.

 

[newinnov]

Take 1 axis LTF for 10% offer 🤣
Paytm BOGO is still there in myzone that’s a relief 🥂🥂

What 10% offer?

 

[NShah]

What 10% offer?

Normal Instant discount offers on eCommerce sites

 

[rixypanther]

How can axis even justify 3.5 lakh fee waiver for IOCL ? In a month you can't spend more than 5K as you get only 50 Rs surcharge waiver and only 1000 er points max. Also for online spends one can spend max Rs 5000 to get 250 points and that's it you can spend more than that if you do so you won't get any ER points. For offline transactions it's 1 ER point per Rs 100 spent ( minimum transaction size to earn ER point 200 ) . Even if one spends max at fuel and online and say some offline transaction it would max come out to Rs 12000 a month. So in a year one can at max spend 144000 and that too other than feul reward rate would be very poor. Who is nuts to spend 3.5 lakhs a year for fee waiver ? Why such a heavy 🪓 on entry level credit card which doesn't have any benefits and is not subject to abuse also.

 

[anirban.choudhuryanirban.choudhury is verified member.]

interesting, with 15L spends in a year, 2 vacations looks solid deal. would you be kind enough to elaborate more on this. Thanks

There are many permutations and combinations possible
You can get return EU via Avios from as low as a 41k miles that's 20.5 k
Again can get Paris return at 28/30k Virgin Atlantic points
South Korea can be done in the same range

Marriot and Accor hotels can be booked for as low as 7000-8000 MB points or 3000-5000 INR with Accor points.

 

[SSV]

😉 Why do you think so ?
I have been a long time Axis bank customer and have been using ace for the past 2 years. Never involved into any of those tricks, still I am affected.

Axis, during its 1st devaluation of magnus must have understood the abuse patterns and should have taken necessary actions. Simple checks like, marking users who is maxing out rewards and verifying them would have stopped this.

This is common sense, do you find this valuable thing with AXES , is question here that needs to be answered../
and we all know the answer, if someone doesn’t know , is it AXES fault?? 😉

 

[gvicky008]

How can axis even justify 3.5 lakh fee waiver for IOCL ? In a month you can't spend more than 5K as you get only 50 Rs surcharge waiver and only 1000 er points max. Also for online spends one can spend max Rs 5000 to get 250 points and that's it you can spend more than that if you do so you won't get any ER points. For offline transactions it's 1 ER point per Rs 100 spent ( minimum transaction size to earn ER point 200 ) . Even if one spends max at fuel and online and say some offline transaction it would max come out to Rs 12000 a month. So in a year one can at max spend 144000 and that too other than feul reward rate would be very poor. Who is nuts to spend 3.5 lakhs a year for fee waiver ? Why such a heavy 🪓 on entry level credit card which doesn't have any benefits and is not subject to abuse also.

Unless you share the card or use it for business needs and then axis swoops in and take aways all your points for non-personal use. This card has become a joke. 😀

 

[Vasuki]

How can axis even justify 3.5 lakh fee waiver for IOCL ? In a month you can't spend more than 5K as you get only 50 Rs surcharge waiver and only 1000 er points max. Also for online spends one can spend max Rs 5000 to get 250 points and that's it you can spend more than that if you do so you won't get any ER points. For offline transactions it's 1 ER point per Rs 100 spent ( minimum transaction size to earn ER point 200 ) . Even if one spends max at fuel and online and say some offline transaction it would max come out to Rs 12000 a month. So in a year one can at max spend 144000 and that too other than feul reward rate would be very poor. Who is nuts to spend 3.5 lakhs a year for fee waiver ? Why such a heavy 🪓 on entry level credit card which doesn't have any benefits and is not subject to abuse also.

Crap card now

 

[SamPtnk]

What is Axis gonna do with their CC's portfolio now?? All major cards now got devalued and mass closure of the cards. Imagine the efforts and marketing campaigns they have spent on gaining and retaining the customers. Phase wise devaluation would have been better on many cards.

Dont worry grand opening was done by Axis , now every bank will follow

 

[rixypanther]

Unless you share the card or use it for business needs and then axis swoops in and take aways all your points for non-personal use. This card has become a joke. 😀

Kotak IOCL seems a better bet now

 

[irahul80]

Can someone share what are these Rotation technique which everyone is quoting && is it something a normal salaried person can do ??

I don't have any super premium cards and it looks i'm too novice to understand this whole thng as well !

 

[SSV]

It was bound to fail. Abusers are fine with getting their cards closed, they know the risk. Those who would engage in this would be genuine users. And no genuine users want to give their bills to a fucking bank like it is their spouse or IT dept.

Very valid point and in my previous posts regarding axes, this was my whole point…
How dare they ask for invoices for even ₹500 spent at the airports…
What a humiliation from customer perspective….
Still people liked axes as they are giving good rewards…
Now see what happened…
Warning:
This won’t be last time , this will happen again
Source: as per some senior management guy which was published in the media on the other day

 

[Vasuki]

I am glad I didn't opted for burgundy & decided to wait for a bit.

Will only keep their credit cards ( Atlas & Privilege) till renewal, then I will close them. Will continue with airtel card.

But no other banking relation with Axis ever.

I guess After previlgae will move to Atlas and earn edge miles ..

What can u Book for 6k edge miles - in air ticket

 

[Vasuki]

Can someone share what are these Rotation technique which everyone is quoting && is it something a normal salaried person can do ??

I don't have any super premium cards and it looks i'm too novice to understand this whole thng as well !

Which card u have

 

[SSV]

Can someone share what are these Rotation technique which everyone is quoting && is it something a normal salaried person can do ??

I don't have any super premium cards and it looks i'm too novice to understand this whole thng as well !

Sometimes ,
“ Ignorance is bliss “ …
Better keep it that way and enjoy life !!!

 

[Vasuki]

In india very true .
No one wants to be interogted even by parents' forget fugg sake axis Bank

Very valid point and in my previous posts regarding axes, this is my whole point…
How dare they ask for invoices for even ₹500 spent at the airports…

 

[irahul80]

Which card u have

ATLAS, though looks worthless due to transfer of points criteria (atleast for me)

 

[Vasuki]

Kotak IOCL seems a better bet now

They don't even credit.
Sbi bpcl is the deal.

 

[anirban.choudhuryanirban.choudhury is verified member.]

I guess After previlgae will move to Atlas and earn edge miles ..

What can u Book for 6k edge miles - in air ticket

A couple of domestic flights or one way flight from Mumbai to Colombo

 

[Vasuki]

ATLAS, though looks worthless due to transfer of points criteria (atleast for me)

Yes but won't be much hassle if u don't spend too much
For 3-4 lakh spend its a decent card
Not to forget lounge deavulation didn't happen to atlas

 

[irahul80]

Sometimes ,
“ Ignorance is bliss “ …
Better keep it that way and enjoy life !!!

I agree, that's why never got interested in buying vouchers. Things should be good in vanilla form like how SBI Cashback card keeps it 🙂