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.

 

[shashankrt]

Failed again. Has anybody tried transferring to Accor recently?

I tried and failed again for accor. Should i try unlinking the account and trying again?

 

[Venky]

I tried and failed again for accor. Should i try unlinking the account and trying again?

I have no clue what is happening. I called the CC and they said that I have changed the Membership ID for ALL and indeed the last two alphabets have changed to Caps from small letters. Now the thing is I have not transferred or made any changes to anything related ER transfer partners since August I think.

I have raised a request and they just unlinked my Accor ID and then I had to manually add it back. I have also initiated the transfer again this morning so I’ll have to wait till tomorrow or day after to confirm if unlinking the account worked or not. 😓

 

[shashankrt]

I have no clue what is happening. I called the CC and they said that I have changed the Membership ID for ALL and indeed the last two alphabets have changed to Caps from small letters. Now the thing is I have not transferred or made any changes to anything related ER transfer partners since August I think.

I have raised a request and they just unlinked my Accor ID and then I had to manually add it back. I have also initiated the transfer again this morning so I’ll have to wait till tomorrow or day after to confirm if unlinking the account worked or not. 😓

Thanks will try this. Did you upgrade to silver via accor plus by any chance? My linked id changed as accor changes membership number afted upgrade. After that my transactions for accor are failing.

 

[Walter White]

Thanks will try this. Did you upgrade to silver via accor plus by any chance? My linked id changed as accor changes membership number afted upgrade. After that my transactions for accor are failing.

Pehle toh even after status change, purane id pe transfer ho jaata tha

 

[Rishabh]

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
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 will be 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.

Meet & Greet discontinued only for regular Magnus variant. For M4B it has been reduced from 8 services to 4 services per year. Please update the summary 🙂

 

[Saarthak Parihar]

Meet & Greet discontinued only for regular Magnus variant. For M4B it has been reduced from 8 services to 4 services per year. Please update the summary 🙂

They should've continued the BMS BOGO movie/non-movie tickets on the M4B atleast.. they force people to maintain so much TRV and do such stuff to the same customers. They've actually lost it. Idk how much more do they want to capitalise on people now. First they fail in designing a product and then try to dry people out trying to recover their losses.

 

[Venky]

Thanks will try this. Did you upgrade to silver via accor plus by any chance? My linked id changed as accor changes membership number afted upgrade. After that my transactions for accor are failing.

Nope I haven’t and even my number is the same and everything just somehow the alphabets have changed to Caps.

 

[shashankrt]

Pehle toh even after status change, purane id pe transfer ho jaata tha

Some issue with caps I guess. Will check.

 

[card-shard]

People who actively put effort to get maximum benefit from their CCs is very less. People on this forum are not even 0.01% of all CC holders in India.
So, Axis won't have significant reduction in their consumer base, as some users seem to comment here.
Most CC users take whatever 1 card they can get when they open salary account or from tele sales team, and keep using it for years without actively looking for upgrades/rewards optimizations etc...

So, this devaluation will only lead to CC closure of less than 0.01% of card base of Axis, not more than that in next 6 months.

 

[sahilgulati5]

Failed again. Has anybody tried transferring to Accor recently?

Yep it transferred within 24hrs

 

[Trust Me]

So, this devaluation will only lead to CC closure of less than 0.01% of card base of Axis, not more than that in next 6 months.

.... And what about the effect on new additions to the customer base? ... Are most of the potential customers also still oblivious to whatever has been going on for so long with the Axis cards, ... and the overall impressions of Axis's service quality ?!
.

 

[iNokia]

People who actively put effort to get maximum benefit from their CCs is very less. People on this forum are not even 0.01% of all CC holders in India.
So, Axis won't have significant reduction in their consumer base, as some users seem to comment here.
Most CC users take whatever 1 card they can get when they open salary account or from tele sales team, and keep using it for years without actively looking for upgrades/rewards optimizations etc...

So, this devaluation will only lead to CC closure of less than 0.01% of card base of Axis, not more than that in next 6 months.

Maybe but this 0.01% MS were enough for axis to kill their portfolio.

 

[card-shard]

.... And what about the effect on new additions to the customer base? ... Are most of the potential customers also still oblivious to whatever has been going on for so long with the Axis cards, ... and the overall impressions of Axis's service quality ?!
.

I will repeat my prev comment: most customers don't care. It's only a tiny percentage of CC users, who try to optimise for rewards/cashbacks. And trend will remain as such.

Maybe but this 0.01% MS were enough for axis to kill their portfolio.

If a company has to focus on profitability, and the percentage of ppl taking out max juice from their rewards/cashbacks system is tiny. Companies won't even blink in taking that decision of devaluing.
By cutting down a tiny segment of users, they stop bleeding money and no major fuss is created. double win for the bank.

 

[abhiver]

I will repeat my prev comment: most customers don't care. It's only a tiny percentage of CC users, who try to optimise for rewards/cashbacks. And trend will remain as such.


If a company has to focus on profitability, and the percentage of ppl taking out max juice from their rewards/cashbacks system is tiny. Companies won't even blink in taking that decision of devaluing.
By cutting down a tiny segment of users, they stop bleeding money and no major fuss is created. double win for the bank.

Most people only care about is Lounge or either reward points earning. Matlab kya CC use karne pe points milega ya nahi.

 

[vinrey287]

View attachment 46933

Would never have used guest access if there was no devaluation. Used to use family's individual cards for lounge access before.

Is the primary holder required or can we just create in the app and share it with the traveler?

 

[RTR01]

Is the primary holder required or can we just create in the app and share it with the traveler?

Depends on the lounge attendant.

 

[TJ90]

Cancelled my Magnus yesterday

 

[Saipsy]

Is the primary holder required or can we just create in the app and share it with the traveler?

Not required. QR code from dreamfolks does not display name of card holder.

 

[Rishabh]

They should've continued the BMS BOGO movie/non-movie tickets on the M4B atleast.. they force people to maintain so much TRV and do such stuff to the same customers. They've actually lost it. Idk how much more do they want to capitalise on people now. First they fail in designing a product and then try to dry people out trying to recover their losses.

I am expecting bank to revalue M4B in future if they want to retain or acquire new M4B customers (esp. one paying 30k annual fees) 😛

 

[shashankrt]

People who actively put effort to get maximum benefit from their CCs is very less. People on this forum are not even 0.01% of all CC holders in India.
So, Axis won't have significant reduction in their consumer base, as some users seem to comment here.
Most CC users take whatever 1 card they can get when they open salary account or from tele sales team, and keep using it for years without actively looking for upgrades/rewards optimizations etc...

So, this devaluation will only lead to CC closure of less than 0.01% of card base of Axis, not more than that in next 6 months.

Well you are correct for other banks. However Axis actively promoted its Burgundy Accounts to enable M4B as LTF. Technically this can be construed as unfair business practice and can get a big bamboo from RBI if it receives sufficient complaints.

Also all those ppl who opted for M4B are high spenders and Axis will get burned to some extent for sure.