Axis Bank Brutal Devaluation of Atlas/Reserve/M4B/Vistara/Samsung/Flipkart/Ace/Airtel/Myzone/IOCL & Other Credit Cards

[TechnoFino]

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.

 

[CMG]

What is the verdict on Atlas reward rates? Is it still 4% and 10%?

No change yet.

 

[Gaara]

Or atleast bring the spend waiver down

Yes, that's a great Idea.

 

[BhaiyaJi]

Mahakumbh of devaluation.

 

[panu24]

SC smart gives only 1% for offline payments no?

Correct. 1% for offline spend

 

[helloworld]

Here you go

thanks. update in main post itself.

also, if possible do share the link for those group a and b transfer partners.

 

[ak93]

My first statement was generated today 😂 Not sure if I will keep it anymore. Atleast used it for tax and other govt payments before devaluation!

Just received the email. They didn't even spare the annual benefit on Silver tier. I can now finally move on from Axis shitshow.

 

[phoenix1386]

Got the email today as well, about 20 minutes ago. Straight up INR 100 loss per month for me. Drats.

I use this card for Airtel bills and utility bills each month, saving a clear 600 per month. Now, that will be 500.

Devaluation is on the rise way too much lately.

 

[Farhad sekh]

4 mahine hua card lene me , avi devalue kar diya . Khatam tata bye bye

 

[rafzy]

Damn axis.... I understand they're bleeding cash, but then these idiots are blanket devaluing anything and everything. Will trnsfr off all points and move to yes marquee, as thats the next best card i have. (Still have normal magnus, will cancel that close to renewal)

As we all assumed sometime back and it’s here now:

https://campaign.axisbank.com/generic/axis-atlas-credit-card-terms-and-conditions.pdf

 

[Anil_Singh]

I stopped using ACE since the begining of this month. And this happened. Lol. Still a good card. 5% for Gpay. 4% for Ola is still a nice deal for rotators.

 

[Zacobite]

As we all assumed sometime back and it’s here now:

https://campaign.axisbank.com/generic/axis-atlas-credit-card-terms-and-conditions.pdf

infinia,dcb, scb ult, plat travel, mrcc,sbi cb and platinum charge will rock now

 

[plastikman]

4 mahine hua card lene me , avi devalue kar diya . Khatam tata bye bye

Maine last month hi liya tha. Joining charges were just reversed a few days back 😅

 

[its_karan]

Got the email today as well, about 20 minutes ago. Straight up INR 100 loss per month for me. Drats.

Same here

But the loss it twice

 

[Anil_Singh]

Maine last month hi liya tha. Joining charges were just reverse a few days back 😅

Real moye moye moment. 🤣🤣

 

[saikat86]

Axis Ace now announced a biggest devaluation.For all online spend they have reduced cashback from 2 to 1.5.

 

[Gaara]

Same here

But the loss it twice

Looks like we both got name changes on same day 😂
with axis devaluation.

 

[R!ppEr]

which card still gives points/milestone on rent payments?

 

[phoenix1386]

Same here

But the loss it twice

How is the loss twice for you?

 

[Zacobite]

Sad ACE got devalued. Looks like Axis really want their CC business to go down. Of-course Ace is still better cashback card from Axis.

ACE ATLAS , FK, VISTARA, IOCL, RESERVE, MAGNUS AND AIRTEL.. ALL DEVALUED TODAY.. Major exodus of CC expected.. lounge crowds will reduce.. Infinia and other premium cards will become the most wanted.. ENCALM lounge will record lower profits

 

[V360]

Is Axis still lucrative for few members on this community?