Axis Bank has unveiled significant alterations to its Magnus Credit Card, effective from April 20. These modifications encompass adjustments in reward earnings, exclusions for annual fee waivers, and other notable changes. The Magnus Credit Cards, issued by Axis Bank, are tailored for travel and lodging purposes, offering a plethora of benefits such as hotel discounts and concierge services. The premium card also extends robust benefits across various other categories.
Key Changes in Axis Bank Magnus Credit Card:
1. The spend threshold required for an annual fee waiver on the premium credit card will now exclude expenditures on insurance, jewellery, or fuel.
2. Expenditures on fuel, insurance, and jewellery will no longer qualify for basic or expedited EDGE REWARD Points.
3. Several features will be discontinued, including complimentary airport meet and greet services, BookMyShow’s Buy-One-Get-One free movie/non-movie ticket offer, and 24×7 free concierge services.
4. Under the updated changes, reward points can be transferred to select airline or hotel loyalty programs at a 5:2 ratio. For instance, 50,000 Axis EDGE Reward Points will yield 20,000 partner miles. Additionally, accumulated reward points can be redeemed at the EDGE Rewards catalogue for a variety of vouchers across multiple categories. Customers can also opt for ‘Pay with Point’ at partner stores.
5. Revisions have been made to the domestic airport lounge access program. Lounge access benefits will now be based on the user’s MAGNUS Credit Card spends in the previous 3 calendar months. Furthermore, accessing the complimentary lounge from May 1, 2024, onwards will require a minimum spend of Rs 50,000 during the previous 3 calendar months. For new cards, the minimum spend criteria are waived for the month of issuance and the subsequent 3 calendar months.
6. Changes have also been implemented regarding airport lounge access for both domestic and international programs:
– Domestic lounge access grants all Magnus customers four guest visits from April 20 to December 31, 2024, regardless of prior guest visits utilized until April 19, 2024.
– International lounge access offers all Magnus customers four guest visits from April 20 until the card anniversary date, irrespective of previous guest visits utilized until April 2024.
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