Axis Bank has announced several important updates to the features and terms of select credit cards. These changes will be implemented in phases during the coming months and will impact reward structures, cashback limits, lounge access, and platform-based offers. As a result, the overall value-back for cardholders may change depending on the card variant and usage pattern.
The revisions apply to popular cards such as Axis Flipkart, Magnus for Burgundy, Reserve, Neo, Select, Rewards, and Privilege. Along with card-specific updates, Axis Bank has also introduced some common changes that will apply across all these cards.
Common Changes Applicable Across Select Axis Credit Cards
Axis Bank will now define excluded categories for rewards, cashback, and spend-based fee waivers using category names instead of merchant category codes. This change aims to bring more clarity to cardholders regarding ineligible transactions.
Additionally, Axis Bank will have the right to forfeit unused EDGE Reward Points or EDGE Miles if they are not redeemed within a limited period after card closure. Points may also be forfeited if the minimum amount due remains unpaid for an extended duration.
Axis Privilege credit cardholders can now enjoy a new movie-related benefit. The card offers a buy one get one free movie ticket deal through the District app, subject to a maximum ticket value. This benefit can be availed once every month using a specific promotional code.
The Flipkart Axis Bank Credit Card will see notable revisions in cashback structure and lounge access benefits.
The cashback rate on Myntra spends has been increased significantly but is now subject to a quarterly cap. Cashback earnings on Flipkart, Cleartrip, and Myntra will each have a defined upper limit per quarter.
In addition, the complimentary domestic airport lounge access benefit on this card will be discontinued, which may impact frequent travellers.
Axis Select credit cardholders will receive a new movie offer allowing buy one get one free tickets through the District app, available multiple times every month using a dedicated code.
The minimum spend requirement for the BigBasket discount offer has also been reduced, making it easier for cardholders to avail monthly savings on grocery purchases.
The reward structure for Axis Magnus and Magnus for Burgundy cards will be revised for high spenders. Accelerated reward points will now be applicable only after crossing a defined monthly spending threshold, and will be capped based on the assigned card limit.
This change may impact users who previously enjoyed higher rewards on lower monthly spends.
For Axis Bank Reserve credit cardholders, the reward rate on international spends will be revised. Higher reward points will be applicable only up to a specified monthly spend limit. Once this limit is crossed, international transactions will earn rewards at the base rate for the remainder of the month.
The Zomato discount offer on Axis Neo credit card will be revised. The previous percentage-based discount will be replaced with a flat discount, applicable only on higher minimum order values. This offer will continue to be available a limited number of times each month using the same promotional code.
The Swiggy discount offer on Axis Rewards credit card will also move from a percentage-based discount to a flat discount model. The revised offer will apply on higher minimum order values and will remain valid for a limited number of transactions each month.
Even if an eligible order is cancelled after payment, it will still be counted towards the monthly usage limit for this offer.
Final Thoughts
These changes introduced by Axis Bank can significantly impact the value you derive from your credit card, especially if you rely heavily on rewards, cashback, or lifestyle benefits. It is advisable to review your spending habits and assess whether your existing card continues to suit your needs.
Staying informed about such updates helps you avoid surprises and make smarter decisions about upgrading, retaining, or switching your credit card.