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.

 

[Deleted member 27665]

I hope Arindam has already taken term insurance.

 

[BhaiyaJi]

No one is posting on select did select survived

No one has reported any mail yet

 

[onifonhcet]

To me airtel axis seems to be the most rewarding card out there right now even after devaluations.

Shhhh kl hi 5% na karde

 

[Pavan]

No one has reported any mail yet

yes seems select the choosen one

 

[Deleted member 27665]

No one has reported any mail yet

Select also devalued.... Received PDF

 

[Chitra007]

I have myzone credit card, is it devalued as well?

 

[Venky]

Can someone with adequate knowledge please explain me this, was Axis not earning anything when we swiped our cards online or offline? I mean I am certain that people and me did spend big on this card in the past year and half.

Meet & Greet was barely used by everyone on the Magnus even though they had the quota left. It was a great benefit but was it that abused that they couldn’t cover the cost even when a significant portion of the allotted quota went unused? Didn’t even think of reducing the number straight killed the whole program at once, nice.

BOGO was one of the best feature for me but how much it could have costed? Like was everyone redeeming all 5 tickets every damn month?

Lounge access is acceptable ki okay, you gotta cut them down, I can even accept the 50k criteria as this was indeed a premium card and 50k/quarterly is not the end of the world but Hello? People are paying almost 12-14k just for the fees and some people like me also renewed it with no benefits just for the features they offered.

Their concierge I’ve never tried but I am sure not many holders used that too to such an extent where they had to completely kill the whole desk!

The MCC’s they removed were the big ticket ones after all. How is a normal person, with at least 24 lakhs worth of ITR or someone whom a bank deems worthy of giving a 4 lakhs worth of credit every month, not gonna spend significantly on these categories????

Sadly, I renewed this card back in December and hence there is nothing that I can do now.

Its a bit of a rant but also I am genuinely asking the questions that I asked. 😅

PS- Koi Emeralde Private Metal ya Zenith+ dila do bhai. Lage toh 100-50 upar chalega. 🤣

 

[Riya Sharma]

Amex is gonna get some good business from this.

 

[Harry1]

Eh that’s not too bad. It’s still very worth it for me due to the 0.4 value.

Multi Brand vouchers at double redemption value on achieving milestone spends of every 2.5 Lakhs will be discontinued.

This is real devaluation. Not just privilege, every card is affected by this. Lot of people were using this 5:2 conversion for Myntra voucher even on other cards.

 

[Pavan]

done . .

Why bro why why

 

[BhaiyaJi]

Axis today

 

[MangoRush]

Can someone with adequate knowledge please explain me this, was Axis not earning anything when we swiped our cards online or offline? I mean I am certain that people and me did spend big on this card in the past year and half.

Meet & Greet was barely used by everyone on the Magnus even though they had the quota left. It was a great benefit but was it that abused that they couldn’t cover the cost even when a significant portion of the allotted quota went unused? Didn’t even think of reducing the number straight killed the whole program at once, nice.

BOGO was one of the best feature for me but how much it could have costed? Like was everyone redeeming all 5 tickets every damn month?

Lounge access is acceptable ki okay, you gotta cut them down, I can even accept the 50k criteria as this was indeed a premium card and 50k/quarterly is not the end of the world but Hello? People are paying almost 12-14k just for the fees and some people like me also renewed it with no benefits just for the features they offered.

Their concierge I’ve never tried but I am sure not many holders used that too to such an extent where they had to completely kill the whole desk!

The MCC’s they removed were the big ticket ones after all. How is a normal person, with at least 24 lakhs worth of ITR not gonna spend significantly on these categories????

Sadly, I renewed this card back in December and hence there is nothing that I can do now.

Koi Emeralde Private Metal ya Zenith+ dila do bhai. Lage toh 100-50 upar chalega. 🤣

Believe me, no one at AXIS wants people to like them.
All they had to do was identify the abusers and kick them out.
Instead now they ruined it for everyone.

 

[Riya Sharma]

Multi Brand vouchers at double redemption value on achieving milestone spends of every 2.5 Lakhs will be discontinued.

This is real devaluation. Not just privilege, every card is affected by this. Lot of people were using this 5:2 conversion for Myntra voucher even on other cards.

Wait, what do you mean? Will I still be able to redeem my points for 0.4 value via Multi-brand vouchers or nah? I didn’t really care about Privilege’s milestone benefits anyway since I have other cards for that.

 

[HOME_CARDER]

Select also devalued.... Received PDF

Devalued Massively. Minimum order amount for Swiggy and BB is now 1,000 and 3,000 respectively.
And usual BMS discontinued and Lounge access with 50k spends.

 

[Sathishmani]

I have myzone credit card, is it devalued as well?

 

[Predator]

Vimal bro right now:

 

[Riya Sharma]

Devalued Massively. Minimum order amount for Swiggy and BB is now 1,000 and 3,000 respectively.
And usual BMS discontinued and Lounge access with 50k spends.

Alright then. Time to cancel.

 

[Swastik]

Words cannot describe how bad I'm feeling right now ,

Magnus was my 1st Super Premium Card ,at a time when DCB or Infinia seemed beyond my reach(I've got separate beef with HDFC ,but that's for another thread) ,Axis gave me Magnus ,

And even after Sep 23 devaluation, i stuck with them because of non spend based benefits ,Lounge ,Meet and Greet ,Guest access etc

But now Axis has chopped off any reason to hold on to this card ,

And I'm shattered

 

[Ekavya]

At this rate of devaluation that day isn't far when axis will charge transaction fees from customer for any transaction. 😂

 

[Abhi5467]

Axis customers be like: Are you comedy me😂 Flipkart CC was solely for 5% discount (which now SBI cashback has on every online transaction even Flipkart) 1.5 % is reduced to 1% which even debit cards give...some even pay higher. An already meagre list of domestic lounge is further restricted by 50k spends in last 3 months...what a joke that some debits cards are beating credit cards at their own game now. Mera journey shuru to hone se pehle hi khatam ho gaya👉👈 Socha tha Magnus lunga, maje karunga! Mere eligible hone tak bank hi na band ho jaye😭