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.

 

[HumorSimpson]

By blow you mean receiving those jobs?

 

[Trust Me]

And yet they're offering two of their entry level cards ltf at the same time.

Entry level cards, really?! ... Axis know that?!

--- They are offering those two cards to me as an "upgrade" to my Select card! 😄
.

 

[Akash0043]

Entry level cards, really?! ... Axis know that?!

--- They are offering those two cards to me as an "upgrade" to my Select card! 😄
.

That is actually a upgrade after devaluation from paid select 🤣🤣

 

[Akash0043]

@DocFixIt
Now axis is doing new ba*******
Now they are saying you can only hold two card from rewards platform confirmed with 3 different senior agents
They are saying getting SI will disable previous card
What to do now 🤣🤣
This is all because of you as you redeemed SI 30k points on privilege
They are saying myzone will get disabled after 45 days of getting SI

 

[hedgehog2122]

Other than travel cards, you dont actually require lounge access. Couple/one visit per quarter cards was actually a misselling by the banks just for the sake of increasing number of card holders/client base. Now they realized the reality and hence devaluation pe devaluation.

Finally things are moving in right direction hopefully we may see less traffic at airport lounges from next FY.

 

[SSV]

Other than travel cards, you dont actually require lounge access. Couple/one visit per quarter cards was actually a misselling by the banks just for the sake of increasing number of card holders/client base. Now they realized the reality and hence devaluation pe devaluation.

Finally things are moving in right direction hopefully we may see less traffic at airport lounges from next FY.

another one bites the dust. more to follow the suit...which is great in reality... I am liking it..

Devaluation - Yes Bank Credit Cards Devalued - Lounge Access Condition Revised wef July 2024 Min Spend 35000

Unlock Complimentary Lounge Access with YES BANK Credit Card! Dear Customer, Unlocking complimentary Lounge Access has never been easier. Effective 1st July 2024, by spending INR 35,000 or more in the previous quarter (21st Mar-20th Jun | 21st Jun-20th Sep | 21st Sep-20th Dec | 21st Dec-20th...

www.technofino.in

 

[Trust Me]

That is actually a upgrade after devaluation from paid select 🤣🤣

Except that my Select CC happens to be LTF too! 🙂

Hope Axis haven't yet figured out how to devalue the meaning of LTF too (by redefining the meaning of "Lifetime" to mean the lifetime of the card rather than that of the holder, for example)! 🙂

(--- That particular idea is not that novel as it appears! Remember when "Lifetime Warranty" for some products was redefined to mean the lifetime of the products concerned?) 🙂
.

 

[Dixit]

Looks like Airtel card got least hit.

 

[Vasuki]

@DocFixIt
Now axis is doing new ba*******
Now they are saying you can only hold two card from rewards platform confirmed with 3 different senior agents
They are saying getting SI will disable previous card
What to do now 🤣🤣
This is all because of you as you redeemed SI 30k points on privilege
They are saying myzone will get disabled after 45 days of getting SI

I have si , previlgae, iocl
All on reward platform

What cards u have

 

[RTR01]

Except that my Select CC happens to be LTF too! 🙂

Hope Axis haven't yet figured out how to devalue the meaning of LTF too (by redefining the meaning of "Lifetime" to mean the lifetime of the card rather than that of the holder, for example)! 🙂

(--- That particular idea is not that novel as it appears! Remember when "Lifetime Warranty" for some products was redefined to mean the lifetime of the products concerned?) 🙂
.

Please don't give them ideas

 

[the_spectator]

About time that RBI starts looking into this sudden devaluations tactics by banks. To hell with T&C, because when a bank onboards a customer, specially paying ones, with specific spend based as well as non spend benefit promises, they CANNOT keep devaluing the product every 6 months at their whim. Either they need to keep the features intact for the year for which fees is paid OR refund the fees at closure. There has to be some trust/warranty before buying a product like other fields.

 

[SSV]

Except that my Select CC happens to be LTF too! 🙂

Hope Axis haven't yet figured out how to devalue the meaning of LTF too (by redefining the meaning of "Lifetime" to mean the lifetime of the card rather than that of the holder, for example)! 🙂

(--- That particular idea is not that novel as it appears! Remember when "Lifetime Warranty" for some products was redefined to mean the lifetime of the products concerned?) 🙂
.

Please don't give them ideas

THey already kind of did in case of terming M4B as LTF

 

[Deleted member 9785]

another one bites the dust. more to follow the suit...which is great in reality... I am liking it..

Devaluation - Yes Bank Credit Cards Devalued - Lounge Access Condition Revised wef July 2024 Min Spend 35000

Unlock Complimentary Lounge Access with YES BANK Credit Card! Dear Customer, Unlocking complimentary Lounge Access has never been easier. Effective 1st July 2024, by spending INR 35,000 or more in the previous quarter (21st Mar-20th Jun | 21st Jun-20th Sep | 21st Sep-20th Dec | 21st Dec-20th...

www.technofino.in

floodgates are open

 

[Trust Me]

Finally things are moving in right direction hopefully we may see less traffic at airport lounges from next FY.

.... Without the not-negligible associated chance of the added benefit of less traffic at the shops as well of people flaunting their Axis cards, you mean? 🙂
.

 

[Akash0043]

I have si , previlgae, iocl
All on reward platform

What cards u have

Myzone and privilege neo closed yesterday
They said phle hold kr skte the but ab nhi kr skte
Now max 2 on reward 1 on cashback 1 on miles

 

[abhim]

About time that RBI starts looking into this sudden devaluations tactics by banks. To hell with T&C, because when a bank onboards a customer, specially paying ones, with specific spend based as well as non spend benefit promises, they CANNOT keep devaluing the product every 6 months at their whim. Either they need to keep the features intact for the year for which fees is paid OR refund the fees at closure. There has to be some trust/warranty before buying a product like other fields.

Or give impacted users a chance for a no-cost exit if they need

 

[Trust Me]

.... To hell with T&C, ...

I think that is already kind of covered in the ubiquitous fine prints that anything and everything could be modified / revoked etc. etc. anytime without notice! 🙂
.

 

[HumorSimpson]

Or give impacted users a chance for a no-cost exit if they need

means ? ?

 

[BhaiyaJi]

means ? ?

Refund of joining fees on closing the card

 

[abhim]

means ? ?

Annual fee reversal if already paid or something along those line