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.

 

[jack333]

I think they are again going to start m4b LTF with 30l burgundy in few days

 

[BVCBVC is verified member.]

Vammo, oka card kosam itha kastapadthunara 😂

CC Enthusiasts. Ante kastapadutaru.

 

[BVCBVC is verified member.]

LTF M4B is not LTF really,
It should have been termed as “fee waived basis TRV” , a very cunning and false way of describing the product…

Coming to your LTF point..
It’s only LTF at the cost of 10L SB balance / 30L FD ..
Now tell us , to hold or not hold sir??

Imagine Paying 30K+GST as an annual fee now for M4B.

 

[BVCBVC is verified member.]

I am disappointed with all card providers, I am having 20+ cards in my card wallet and out of these only SBI Cashback seems relevant now.

There are even rumors in the SBI Fav April month like last year there is a chance of 3% CB devaluation on SBI CB card.

 

[SSV]

I think they are again going to start m4b LTF with 30l burgundy in few days

Yes,

this was what I said a few weeks ago...

Burgundy magnus ltf offered

My Axis Bank RM has confirmed if i open a burgundy account with them, I'll be provided magnus burgundy LTF. i already have infinia and i spend around 12-15 lpa on this. Does adding magnus makes sense?

www.technofino.in

 

[Dad0h0j0]

yesterday people were talking about discontinueing of their card and saying IYKYN, now i know 😂😂

 

[SSV]

Imagine Paying 30K+GST as an annual fee now for M4B.

See the main thing with AXES is:
its not paying some X amount and getting some Y product..

Its this "Y' product that we get after all the hassles will turn into some Z product overnight which is way much inferior to the orginial "Y".
and the worse part is, it is not a one off thing... it is a regular thing..
Hence I stay away from any premium products they offer because we never know how the mood swings..

I don't have any problem with AXIS products as such. it is their way of doing business that is not aligned with my way of business ( and thinking)..

 

[HumorSimpson]

That's why I am against taking cards against surrogates like Bank balance , or ULIPs.

If you can manage no conditional LTF it's good otherwise take paid.
Credit cards terms and conditions aRe solely at the mercy of banks they can change anytime as per their will and there would be nothing much to do.
The opportunity cost is almost always more than the benefits

I am not pointing at fees. The frequent change of rules in earning / burning / transfer of points is what hurts any user.

 

[HumorSimpson]

CC Enthusiasts. Ante kastapadutaru.

జిజ్ఞాసపరులు కాదు అత్యాశాపరులు

 

[Akash0043]

What 10% offer?

Instant discount on Amazon flipkart sales etc 🫣

 

[Dexter]

Magnus Bargundy - - changes agenda more than a politician of India. No wonder reddit folks call it Margundy.
Decoding it is like de-tangling this
View attachment 46806

Me and my friends call it Burgandu 😂

 

[kshitij_0]

Ab kisi ko refund nahi chahiye IGP se lagta hai aisa. Sab Axis ke jhatke se coma me ja chuke hain

 

[BhaiyaJi]

Feeling sad for those customers who took this card in say last month after paying good joining fees. Removal of some features with monetary benefits is a big loss like BMS, lounge access, etc

 

[BhaiyaJi]

Maybe feature changes should be applicable post-renewal for new users.

 

[HumorSimpson]

Feeling sad for those customers who took this card in say last month after paying good joining fees. Removal of some features with monetary benefits is a big loss like BMS, lounge access, etc

Just like banks impose penalties on premature FD withdrawals, pre closure of policies, loans, RBI must mandate some freezing for CCs too. So, no CC issuer can pull a deval like this.

 

[anirban.choudhuryanirban.choudhury is verified member.]

I am not pointing at fees. The frequent change of rules in earning / burning / transfer of points is what hurts any user.

That's part and parcel of credit card game. Without such changes banks can't survive.
That's why we need to have as loosely attached relation with bank in terms of credit cards as possible .
There is no point getting into a serious relation like those of bank balance or multi year ulip.
Bank balance is still ok you can stop and get your funds deposited to other accounts but think about ulip , you purchased a policy and in the same year Infinia gets heavily devalued , to get some money out from that policy I am sure there has to be atleast 2-3 years policy paying term.

 

[BVCBVC is verified member.]

Maybe feature changes should be applicable post-renewal for new users.

Typically Yes, but Axis does this Axes way.

Irony is still Magnus website is still displaying all the benefits which were devalued.

 

[PavanPavan is verified member.]

I am disappointed with all card providers, I am having 20+ cards in my card wallet and out of these only SBI Cashback seems relevant now.

yes sir 🙁
seems like 2-3 cards are now sufficient

 

[BhaiyaJi]

I wonder how airport kiosks are going to sell Axis cards now.
Sir, ye card lelo rewards to nahi hai ab but fees vahi same hai 🤣

 

[plastikman]

Magnus Bargundy - - changes agenda more than a politician of India. No wonder reddit folks call it Margundy.
Decoding it is like de-tangling this
View attachment 46806

Apply KVL 😝