The bigger issue with Axis is that they will most probably migrate existing Atlas customer to another card and kill the Atlas card completely.
-
Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.
Dr.AMAN
TF Premier
The card is technically free for the first year with the 5k Edge miles. Even if they migrate the new Atlas customers to other card there is no monetary loss to customers as such. I would definitely grab that Atlas if I were u
sunit123
TF Legend
I applied for my wife, just for testing purpose...It took me to final page and i dropped out
B A U for 🪓
It can happen in 2-3 ways -
1. Like Kotak Myntra card - one shot migration on a fixed date for all and give zen.
2. Like upon your card expiry, when you renew or replace card, you will get a different card. (means those who got recently can use it for 5 years)
3. slow phasing out - how citi did with migration to axis - give some time and migrate.
being axis, i think 1 is the most probable way.
Buttman
TF Premier
But HSBC is very is strict when it comes to issuing cards for self employed folks so that segment would still be mostly ruled by Axshit!
For me Axis has given me a limit of 180k which isn’t bad but I feel floor limit for Olympus would be more than this so it Axis might migrate Atlas folks to Horizon which is still a loss for us!
Being axis they may come with a worst 4th option 🪓
I just called customer care and the agent told me that they have not been told or given any information that Altas is being discontinued. She however said tht there is a system issue since yesterday where they cannot process any upgrades and that Atlas still shows on her system. She could not do an upgrade and told me to call on Friday as they expect the issue to get fixed by tomorrow.
I also told her it's not showing on my net banking app, and she was unaware as to why it should not. She also mentioned that they have been getting a lot of calls regarding Atlas being discontinued.
I guess we will have to wait and see what really is happening. But if as per RBIO guidelines, the bank needs to provide 30 days notice, existing customers may have got something.
She also said that they are not issuing add on cards as of now. I mentioned that it was supposed to start Aug 15, but she was not aware.
I also told her it's not showing on my net banking app, and she was unaware as to why it should not. She also mentioned that they have been getting a lot of calls regarding Atlas being discontinued.
I guess we will have to wait and see what really is happening. But if as per RBIO guidelines, the bank needs to provide 30 days notice, existing customers may have got something.
She also said that they are not issuing add on cards as of now. I mentioned that it was supposed to start Aug 15, but she was not aware.
You may be overthinking. You will get more time than that.
You're correct, I think they're not serviceable as well expect tier-1 cities. So not everyone can opt for their cards. But from a competition point of view, it is good news for consumers.
This is where Axis has excelled all these years. They give mid-range to super premium cards very easily (much more lenient eligibility criteria) and that's where the problem starts. Other banks would probably do that initially but with time they'd become quite strict with lending those cards, but Axis prefers distributing cards to more people until they decide to put the axe on everyone. Which is why it is really important that other banks like ICICI and HDFC come up with more such mid range cards, as they've more coverage than HSBC or Amex.
Axis will continue to keep doing this as it appears to be their way of running this business itself. My gut feeling is that Atlas is going to get discontinued soon, if this news turns out correct. Most likely all customers will move to Horizon and Olympus will become open for applications replacing Axis, turning out as a more premium offering.
This news is out for just one reason - to spread FOMO. Not a surprise considering this is Axis bank.
You don't need to manufacture a high value spend for this. You will have some time even if card is going to get closed, this shouldn't be a worry.
Do we have a Atlas, Horizon, Olympus comparison thread?
Edit.. found one
Edit.. found one
Are you planning to apply for HSBC?
