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.

 

[CD.]

The Mint

 

[Riva]

Meaning they'd been trustworthy sometime in the past?!
.

Honestly iv never had any issues with axis in the past. It has been my salary account for almost 8 years with no issues. On the other hand HDFC has not been kind to me even after being a preferred customer for more than 10 years and with me holding good trv and a insurance policy with them. They denied my upgrade to Infinia and want me to take a additional 40 year ulip.

 

[Riva]

And so finally after applying for my M4B on 24th Jan24, I got a message today saying that it is approved and will be dispatched shortly.
2 months to approve the M4B! Now am wondering if I should activate it.

On another note, what cards do you guys suggest for insurance and gold purchases that give good rewards?

 

[SSV]

The Mint

No surprises here at all, everyone is feeling the same except for some who really care for rewards rather than relationship...
@drsel Mate, we desperately need your latest calculations with respect to the almighty M4B and Atlas...

 

[bvc19296]

And so finally after applying for my M4B on 24th Jan24, I got a message today saying that it is approved and will be dispatched shortly.
2 months to approve the M4B! Now am wondering if I should activate it.

On another note, what cards do you guys suggest for insurance and gold purchases that give good rewards?

If you are travelling by Vistara now SBI Vistara Prime, IDFC Club Vistara can be considered because those spends are considered for milestones.

 

[techt]

Honestly iv never had any issues with axis in the past. It has been my salary account for almost 8 years with no issues. On the other hand HDFC has not been kind to me even after being a preferred customer for more than 10 years and with me holding good trv and a insurance policy with them. They denied my upgrade to Infinia and want me to take a additional 40 year ulip.

Same here. Axis never pestered me for anything. Since Magnus, it is getting into troubled waters.

 

[SSV]

Honestly iv never had any issues with axis in the past. It has been my salary account for almost 8 years with no issues. On the other hand HDFC has not been kind to me even after being a preferred customer for more than 10 years and with me holding good trv and a insurance policy with them. They denied my upgrade to Infinia and want me to take a additional 40 year ulip.

And so finally after applying for my M4B on 24th Jan24, I got a message today saying that it is approved and will be dispatched shortly.
2 months to approve the M4B! Now am wondering if I should activate it.

On another note, what cards do you guys suggest for insurance and gold purchases that give good rewards?

Based on your 8 years experience of Salary account relationship, you should not have any doubts in activating M4B ..right??

 

[OverdosingOnCopium]

I feel like even after the devaluations Axis still has the 3rd best complete credit card portfolio. Yes, there are better cards in the game for specific areas and spends but as a whole combined portfolio all of their cards are better quality than other banks. At the top is still HDFC and Amex. I don't see any bank catching up to these three soon. Maybe IDFC First in a couple of years.

 

[Riva]

Based on your 8 years experience of Salary account relationship, you should not have any doubts in activating M4B ..right??

That's the problem now. So long no issues with axis.. but now looking at the ER mess I am not sure. Also the devaluation and the delibrately delay in processing the card has pissed me off.

 

[SSV]

That's the problem now. So long no issues with axis.. but now looking at the ER mess I am not sure. Also the devaluation and the delibrately delay in processing the card has pissed me off.

That’s how the life unfolds for most of us..i.e.
Confusion….

To navigate thru this confusion successfully in any aspects of life, I follow this :

Finding out the real intentions behind the actions of anyone …

 

[James]

That’s how the life unfolds for most of us..i.e.
Confusion….

To navigate thru this confusion successfully in any aspects of life, I follow this :

Finding out the real Intentions behind the actions of anyone …

You want us to find out the real intention behind the actions of axis?

 

[SSV]

You want us to find out the real intention behind the actions of axis?

Up to you ..
That’s is how I do it with reasonable assumptions and accuracy

 

[James]

Up to you ..
That’s is how I do it with a reasonable assumptions and accuracy

Okay, I think we can't predict the intention of mad Axis

 

[shashankrt]

No surprises here at all, everyone is feeling the same except for some who really care for rewards rather than relationship...
@drsel Mate, we desperately need your latest calculations with respect to the almighty M4B and Atlas...

If you are expecting a proper private banking relationship with ANY of Indian banks..then sorry to burst your bubble none of Indian banks know what private banking is as they are all (rightly) catering to masses.
I am normal person however I do know few true HNIs and all of their banking is with likes of BoFA, Chase, HSBC (in India) etc who actually offer products which are not even available in open markets.

Imperia - Your RMs will be changed more frequently than you change clothes. Hence no real possibility of having any relationship. Also no material benefits other than locker. Fyi - I have been Imperia member since last 8+ years and they truly had some benefits back then (no transaction fee on international withdrawals etc). That program has been devalued more than Axis cards.

Burgundy - Not much use after current devaluation. However may have some use if you need business banking as atleast my RM is responsive and knows his stuff.

IndusInd - Well tried grande however RM was useless so did not go ahead.

IDFC Wealth - Seems good till now however thats only CC relationship. Time will tell how they change

AU - Not tried yet.

Amex - Going downhill big time. Will be limited only for rewards. No point donating them money as their service quality has deteriorated.

 

[bvc19296]

I feel like even after the devaluations Axis still has the 3rd best complete credit card portfolio. Yes, there are better cards in the game for specific areas and spends but as a whole combined portfolio all of their cards are better quality than other banks. At the top is still HDFC and Amex. I don't see any bank catching up to these three soon. Maybe IDFC First in a couple of years.

IDFC has very simple cards.

Core cards LTF and eligibility based on salary.
Co branded cards.

 

[SSV]

If you are expecting a proper private banking relationship with ANY of Indian banks..then sorry to burst your bubble none of Indian banks know what private banking is as they are all (rightly) catering to masses.
I am normal person however I do know few true HNIs and all of their banking is with likes of BoFA, Chase, HSBC (in India) etc who actually offer products which are not even available in open markets.

Imperia - Your RMs will be changed more frequently than you change clothes. Hence no real possibility of having any relationship. Also no material benefits other than locker. Fyi - I have been Imperia member since last 8+ years and they truly had some benefits back then (no transaction fee on international withdrawals etc). That program has been devalued more than Axis cards.

Burgundy - Not much use after current devaluation. However may have some use if you need business banking as atleast my RM is responsive and knows his stuff.

IndusInd - Well tried grande however RM was useless so did not go ahead.

IDFC Wealth - Seems good till now however thats only CC relationship. Time will tell how they change

AU - Not tried yet.

Amex - Going downhill big time. Will be limited only for rewards. No point donating them money as their service quality has deteriorated.

Simple answer: I am not expecting anything from Indian Banks.
I just look for what I want within the given resources and get them and be reasonably happy.
It works for me. I do this everywhere..

 

[OverdosingOnCopium]

IDFC has very simple cards.

Core cards LTF and eligibility based on salary.
Co branded cards.

That is why I said in the future maybe they will make some moves.

 

[Harry1]

Anyone has 'Rewards Credit Card' received any kind of update from Axis bank?

Just FYI, Grab deals site is showing city branded cards logo also now.

 

[D₹V]

You showed up and it's an

Hehe

Please name some

Millennia on Amazon (5% + 1% milestone benefits)
SBI cashback - Amazon GV trick.

 

[techt]

Hehe

Millennia on Amazon (5% + 1% milestone benefits)
SBI cashback - Amazon GV trick.

whats that ?