Axis Bank Announces Changes in Axis Bank Magnus Credit Card. Check Reward Points, Annual Fee Rules Here
As per the revised rules, expenditure on fuel, insurance, and gold/jewelry will not be eligible for basic or expedited EDGE REWARD Points.
Axis Bank has introduced some major changes to its Axis Bank Magnus Credit Card, which will be effective from April 20, 2024. The bank has tweaked conditions on reward earnings, lounge program, annual fee waiver exclusions. Axis Bank Magnus Credit Card is a travel and stay card and has various benefits including hotel discounts, concierge service, and more.
Here is the list of changes in Axis Bank Magnus Credit Card:
1. Annual fee waiver
The Axis Bank Magnus Credit Card’s spends threshold for annual fee waiver will not include spends done on insurance, Gold/Jewelry & fuel categories.
2. Reward points exclusion
Expenditure on fuel, insurance, and gold/jewelry will not be eligible for basic or expedited EDGE REWARD Points.
3. Features that will be discontinued
> 8 complimentary airport meet and greet services will be withdrawn.
> The facility — BookMyShow’s Buy-one-Get-one free movie/non-movie ticket (up to Rs. 500 off the second ticket) — will be withdrawn.
> 24×7 free concierge services will be withdrawn.
> The bank has said as per terms and conditions and subject to availability, all requests raised till April 19, 2024, for future travel dates will be fulfilled.
> No new requests will be taken from April 20, 2024, onwards.
4. Redemption Value
Axis Magnus Reward Points can be transferred to select airline/hotel loyalty program in 5:2 ratio. This means for 50,000 Axis EDGE Reward Points, you will be able to get 20,000 partner miles.
You can also redeem your accumulated reward points at the EDGE Rewards catalog and choose between a variety of vouchers across multiple categories. Additionally, you can also opt for ‘Pay with Point’ at partner stores. The redemption value against product catalog is 1 Axis EDGE reward point = Rs. 0.20, but may vary across brands and vouchers.
Axis Bank Magnus Credit Card charges a joining fee of Rs 12,500 + GST and reverses the same in the form of Luxe gift card/ The Postcard Hotels/ Yatra voucher worth Rs 12,500 on making the first transaction within 30 days from card issuance.
Revision of domestic airport lounge access program
> From May 1, 2024, the domestic airport lounge benefits on your Credit Card will undergo the following changes:
> Lounge access benefits will be based on your MAGNUS Credit Card spends in the previous 3 calendar months.
> To access complimentary lounge from May 1, 2024 onwards, minimum spends required will be Rs 50,000 during Previous 3 calendar months.
> For new cards, the minimum spend criteria is waived for the month of issuance followed by the next 3 calendar months.
> There will be no upgrade of cards. A card issuance, in addition to the card you hold, will be considered as new card issuance.
Airport lounge access
The complimentary guest visits applicable on domestic & international lounge programs will be revised from 8 guest visits to 4 guest visits.
Domestic lounge
As per the new rules, all Magnus customers will have four guest visits accessible from April 20 to December 31, 24 regardless of the number of guest visits used up to April 19, 2024.
From the next calendar year onwards, Magnus customers can enjoy 4 complimentary guest visits per calendar year.
International lounge
For the current card anniversary year, all Magnus customers will have 4 guest visits available from April 20 till card anniversary date, irrespective of number of guest visits utilised till April 19.
From the next card anniversary year,Magnus customers can enjoy 4 complimentary guest visits on Priority Pass, per card anniversary year.
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