Axis Bank makes major changes to this credit card

Axis Bank has announced significant changes to its Axis Bank Magnus Credit Card, the bank has revised conditions on reward earnings, lounge program, annual fee waiver exclusions and more effective from April 20, 2024.

New ICICI Bank Credit Card rules: ICICI Bank to change airport lounge access benefits, reward points rules for these 21 credit cards

Let us take a look at the changes that will be made to the Axis Bank Magnus Credit Card, as per the bank website.

Reward points exclusion

Spending on fuel, insurance, and gold/jewelry will not be eligible for basic or expedited EDGE REWARD Points, adding to the list of category limitations already listed.

Spends on Annual fee waiver

Spends threshold for annual fee waiver will exclude spends done on Insurance, Gold/Jewelry & fuel categories.

Features on your MAGNUS Credit Card that will be discontinued with effect from 20th April 2024:

  • BookMyShow’s Buy-one-Get-one free movie/non-movie ticket offer (up to Rs. 500 off the second ticket) will be withdrawn.
  • 24×7 free concierge services will be withdrawn.
  • Eight complimentary airport meet and greet services will be withdrawn.
  • All requests raised till 19th April 2024 for future travel dates will be fulfilled (as per terms and conditions and subject to availability). No new requests will be taken from 20th April 2024 onwards.

Revision of domestic airport lounge access program applicable from May 1, 2024

With effect from 1st May 2024, the domestic airport lounge benefits on your Credit Card will undergo the following changes:

  • Your lounge access benefits will be based on your MAGNUS Credit Card spends in the previous 3 calendar months.
  • To access complimentary lounge from 1st May 2024 onwards, minimum spends required will be RS 50,000 during Previous 3 calendar months.
  • In case of a newly issued card*, the minimum spend criteria is waived for the month of issuance followed by the next 3 calendar months.
  • Note that upgrade to a different card product will not be considered as new card issuance. However, a card issuance, in addition to the card you hold, will be considered as new card issuance.

Domestic & international lounge

The complimentary guest visits applicable on domestic & international lounge programs will be revised from 8 guest visits to 4 guest visits.

Domestic lounge

For the current calendar year, all Magnus customers will have four guest visits accessible from April 20th, 24 to December 31st, 24 regardless of the amount of guest visits used up to April 19th, 24.

From next calendar year onwards, Magnus customers can enjoy 4 complimentary guest visits per calendar year.

International lounge

For current card anniversary year, all Magnus customers will have 4 guest visits available from 20th April’24 till card anniversary date, irrespective of number of guest visits utilised till 19th April’24.

From next card anniversary year, Magnus customers can enjoy 4 complimentary guest visits on Priority Pass, per card anniversary year.

List of airline and hotel loyalty partners with Axis Bank classified in two groups.

Group A

  • Accor Hotels (Accor Live Limitless
  • Air Canada (Aeroplan)
  • Ethiopian Airlines
  • Etihad (Etihad Guest)
  • Japan Airlines (JAL Mileage Bank)
  • Qatar Airways
  • Marriott International (Marriott Bonvoy)
  • Singapore Airlines (Krisflyer)
  • Turkish Airlines
  • Thai Airways (Royal Orchid Plus)
  • United Airlines (MileagePlus)
  • Wyndham Hotels (Wyndham Rewards)

Group B

  • Air France-KLM (Flying Blue)
  • Air India (Flying Returns)
  • Air Asia
  • ITC
  • IHG® Hotels & Resorts (IHG One Rewards)
  • Qantas Airways (Qantas Frequent Flyer
  • SpiceJet
  • Vistara (TATA SIA Airlines Ltd)

According to the bank website, ” All existing partners on Miles Transfer Program will be divided in two groups (Group A & Group B). For redemption through Miles Transfer Program, the customer will be able to transfer maximum of 1 lakh EDGE REWARD Points cumulatively to Group A partners and maximum of 4 lakh EDGE REWARD Points cumulatively to Group B partners in a calendar year. For the current calendar year, this capping will be applicable from 20th Apr’24 to 31st Dec’24. From next calendar year onwards, capping will be applicable from 1st Jan’25 to 31st Dec’25.”

Earlier changes made to Axis Bank Magnus credit card

Select terms and conditions of the Axis Magnus credit card will change from September 1, 2023. Click here to read the full story.

Other changes made to Axis Bank credit cards

Changes from March 5, 2024: Every rental transaction will be subject to a rent surcharge fee of 1%, with a ceiling of Rs 1500. Taxes will be applicable as notified by Government of India. For any international transaction using Indian currency at an international location or Indian currency transactions involving Indian merchants registered in a foreign country, a Dynamic Currency Conversion (DCC) markup fee of 1% plus taxes will be charged.

Also read: Know changes to credit card rules of SBI Card, ICICI Bank, Axis Bank in 2024

Related post