Axis Bank Revamps Credit Cards: Don't Miss Out On New Lounge Access, Rewards & Partnerships Rules

Axis Bank has initiated a comprehensive overhaul of several of its popular credit cards, effective from Saturday (April 20). These alterations encompass changes to lounge access, rewards programs, and associated services, impacting a range of cardholders across various tiers.

According to Paisabazaar, the cards affected by these modifications include Axis Magnus, Axis Atlas, IndianOil Axis, Axis Ace, Flipkart Axis Card, Axis Vistara Infinite, and Axis Privilege.

One of the notable revisions is the introduction of spend-linked domestic lounge access across different tiers of credit cards. Cardholders now need to meet a minimum spending threshold of Rs 50,000 in the previous quarter to avail complimentary lounge access, a move aimed at encouraging higher spending.

Additionally, Axis Bank has updated its rewards programs, with exclusions now encompassing jewellery and insurance spends across most cards, limiting the scope of earning rewards points. Furthermore, concierge and meet-and-greet services have been removed, simplifying the card features.

The bank has also revamped its extensive list of airline and hotel partners, a key attraction for premium and travel-centric cards. While the number of partners remains largely unchanged, they have been grouped with varied redemption capping, impacting users with specific brand loyalties.

This categorization spans across premium cards like Magnus and Vistara Infinite to mid-range options like Axis Atlas, ensuring a tailored approach to rewards and benefits based on the card tier.

Axis Bank has reduced the base cashback rate across certain cards. Axis Ace, for instance, will now offer a 1.5% cashback, down from 2%, while the Flipkart Axis Card's cashback rate has been adjusted from 1.5% to 1%.

However, Axis Ace cardholders will continue to enjoy 5% unlimited cashback for transactions made through Google Pay, providing an attractive incentive for digital payments. Notably, utility bill payments via other platforms will no longer earn cashback, aligning with the bank's focus on optimizing rewards structures.