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]

Refund of joining fees on closing the card

These kind of things can't be expected from us, with Arindom Bhaja Govindam effect.

 

[Trust Me]

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

I think that restriction is kind of redundant on Axis's part, -- because the number of Axis cards each customer would want to hold from now on is expected to be self-limited by customers themselves, based on their recent experiences with Axis's business decisions! 🙂
.

 

[Jajamama]

M4B and Atlas are still good rewarding cards compared to competition. Let's see if they fix their system (exploits/abuse) or impact everyone with further program wide devaluation and increased fee.

With a capping of 2 Lakh cumulative points per year towards all the good partners, M4B no longer remains rewarding.

 

[shashankrt]

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

This should have happened long back TBH. Lounge access on true LTF cards is a stupidity. No only ppl are selling lounge access (dreamfolk codes) but even misusing by giving cards to others for lounge use. This not only caused inconvenience but even sometimes paid card members were unable to access lounges.

Case in point - Mumbai loyalty lounge in International and Blr 080 lounge both are overcrowded.

Product managers of such cards should be fired. I mean what's the point of offering lounge access on LTF cards where ppl may not even spend on such cards.

 

[SSV]

I think that restriction is kind of redundant on Axis's part, -- because the number of Axis cards each customer would want to hold from now on is expected to be self-limited by customers themselves, based on their recent experiences with Axis's business decisions! 🙂
.

I think it is a smart move by AXES, why because.

they kind of counteracting this kind of move, i.e. instead of market saying all customers left, they want to project as they themselves restricted the number of cards a customer can have !!
how about it??

 

[irahul80]

Thinking of applying axis atlas and closing it after transferring it to vistara. As far as I understand, I'll get 5k miles and transferring it to vistara will give me 10k points right?

1. So I'll be getting 10k vistara points by paying 5900 joining fees? Hope my math is correct.

If yes, I'll close the card after transfer.

2. Any other transfer giving better value than vistara?

3. How much time it takes for joining points to get credited after cc issuance?

why not hold it for more time, limit is 30k for Grp A partners

 

[awara]

I hold a LTF Infinia. Wondering when will HDFC drop a bomb on us like Axis did.

 

[SSV]

I hold a LTF Infinia. Wondering when will HDFC drop a bomb on us like Axis did.

when they decide to introduce another prize, ie Infinia Reserve ..

 

[Deleted member 11974]

they should atleast refund the fees on a pro rata basis
customer pays fees keeping in mind benefits would be there for a year turns out in 6 months he has to bear the grunt of the bank

 

[HumorSimpson]

I think it is a smart move by AXES, why because.

they kind of counteracting this kind of move, i.e. instead of market saying all customers left, they want to project as they themselves restricted the number of cards a customer can have !!
how about it??

Let them do whatever. Hyderabadis can take a food 🍲 parcel from ssv tiffen center and eat on the way to airport.

 

[SSV]

they should atleast refund the fees on a pro rata basis
customer pays fees keeping in mind benefits would be there for a year turns out in 6 months he has to bear the grunt of the bank

this is a rational logic, but unfortuantely we live in an imperfect, irrational world now ... what a pity

 

[shashankrt]

I hold a LTF Infinia. Wondering when will HDFC drop a bomb on us like Axis did.

They can soon.. however HDFC has been cautious and generally their products (especially CCs) are not loss making like stupid Axis products. If HDFC devalues Infinia then they will immediately lose revenue unlike axis where its doing this to avoid losses due to dumb products from incompetent product managers.

Also most Infinias are FYF and not LTF.

 

[awara]

They can soon.. however HDFC has been cautious and generally their products (especially CCs) are not loss making like stupid Axis products. If HDFC devalues Infinia then they will immediately lose revenue unlike axis where its doing this to avoid losses due to dumb products from incompetent product managers.

Also most Infinias are FYF and not LTF.

Let's hope even if they devalue, it's not as brutal.

My Infinia is LTF (have the confirmation on mail), got it on the basis of my TRV that was 2cr+. Only got it a couple of months back and that is why I don't want them to hit us with devaluations so soon 😆

 

[raviemailid]

I hold Atlas and Flipkart cards from Axis and for the spend patterns I have - the pinch I'll feel the most is the 2L cap. I have done flight bookings and hotel payments over 2L 3-4 times in the last year - I am sure the cap will hurt me. Also, the bonus miles on reaching milestones. Since the additional benefits aren't there anymore, people may not be motivated to meet them any more.

Anyway, I am still keeping it. The Flipkart card essentially stays the same. I don't need a lounge from them anyway.

 

[Harry1]

Let's hope even if they devalue, it's not as brutal.

My Infinia is LTF (have the confirmation on mail), got it on the basis of my TRV that was 2cr+. Only got it a couple of months back and that is why I don't want them to hit us with devaluations so soon 😆

Wow, u may get infinity banking and Infinia Reserve too😅.

 

[HumorSimpson]

Let's hope even if they devalue, it's not as brutal.

My Infinia is LTF (have the confirmation on mail), got it on the basis of my TRV that was 2cr+. Only got it a couple of months back and that is why I don't want them to hit us with devaluations so soon 😆

With 2cr+ you are awara.

 

[s1t2y3a3m6]

It's also devalued

When?

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

Ace LTF kese hua ?

 

[awara]

Wow, u may get infinity banking and Infinia Reserve too😅.

I doubt I'll get infinia reserve. Salary is slightly less than 3 lacs per month, I'm sure their requirement for Infinia reserve is going to be at least 5l+ per month.

With 2cr+ you are awara.

In that TRV, 1.75 cr is home loan lol, thanks to Mumbai's real estate prices. Rest 50-60 lacs in the form of savings balance, FD and shares in HDFC securities. Btw they rejected LTF once for me, my contact in HDFC re-sent it for approval and it got approved the second time.

 

[Animal]

Let them do whatever. Hyderabadis can take a food 🍲 parcel from ssv tiffen center and eat on the way to airport.

@S S V, pls share the details with me. I’ll get it from ur centre before heading to airport.

 

[HumorSimpson]

@S S V, pls share the details with me. I’ll get it from ur centre before heading to airport.

Business dealings in RML please.