Axis Bank Credit Cards: Key Changes and Devaluations

Axis Bank, a major player in the Indian credit card market, has been rolling out a series of significant changes and devaluations to its credit card portfolio over the past couple of years, with more updates slated for 2025. Cardholders need to stay informed to understand how these tweaks might impact their rewards, benefits, and overall card usage. This blog post breaks down the key modifications, drawing insights from recent announcements.

Table of Contents

• Upcoming Changes in 2025: What Cardholders Need to Know
  • Overhaul of Reward Tracking and Forfeiture Policies 
  • Axis Bank Privilege Credit Card 
  • Flipkart Axis Bank Credit Card
  • Axis Bank Neo Credit Card
  • Axis Bank Rewards Credit Card
  • Axis Bank Select Credit Card
  • Axis Bank Magnus  for Burgundy
  • Axis Bank Reserve Credit Card

Upcoming Changes in 2025: What Cardholders Need to Know

Axis Bank has been actively fine-tuning its credit card offerings. While some changes bring new benefits, many recent updates point towards a devaluation of existing perks, particularly concerning reward points and lounge access. Understanding these shifts is crucial for maximising the value you get from your Axis Bank credit card.

1. Overhaul of Reward Tracking and Forfeiture Policies

• New Reward Eligibility System (from 20 June 2025): Axis Bank will move away from using Merchant Category Codes (MCC) to determine reward eligibility. Instead, a new "transaction category" system will be implemented. Cardholders will need to understand how these new categories affect their earning rates on different types of spending.
• Reward Point Forfeiture (from 1 October 2025): Unredeemed EDGE Reward Points or EDGE Miles will face forfeiture under two conditions:
  • 30 days after card closure.
  • If the card payment is overdue by 90 days or more.

2. Axis Bank Privilege Credit Card

• From May 2025, the Axis Bank Privilege Credit Card will feature a Buy-One-Get-One (BOGO) free movie ticket offer via the District app.
• This benefit is capped at ₹250 per month and can be availed once a month upon booking a minimum of two tickets.

3. Flipkart Axis Bank Credit Card

One of the most popular co-branded cards is seeing notable changes:

• Myntra Cashback Increase (from 20 June 2025): Cashback on Myntra spends will increase to 7.5%. However, this will be capped at ₹4,000 per statement quarter.
• Flipkart & Cleartrip Cashback Cap (from 20 June 2025): The existing 5% cashback on Flipkart and Cleartrip will now be capped at ₹4,000 per quarter for each partner.
• Lounge Access Discontinued: A significant devaluation for this card is the complete discontinuation of the airport lounge access feature.

4. Axis Bank Neo Credit Card

• From 1 July 2025, the Zomato discount on the Axis Neo Credit Card will be ₹120 off on a minimum order value of ₹499.
• This discount can be availed twice a month.

5. Axis Bank Rewards Credit Card

• Effective 1 July 2025, the Axis Rewards Credit Card will offer an ₹150 discount on Swiggy orders.
• This requires a minimum order value of ₹500 and can be used twice a month.

 

6. Axis Bank Select Credit Card

• Movie Tickets (from May 2025): This card will also offer Buy-One-Get-One movie tickets via the District App, with a discount capped at ₹250 per month. This benefit can be availed twice a month.
• BigBasket Offer Refresh: The BigBasket offer is being updated to ₹500 off on a minimum spend of ₹2,500.

7. Axis Bank Magnus for Burgundy   

The Axis Bank Magnus Credit Card for Burgundy also has a revised accelerated EDGE Rewards structure from 20 June 2025:

• Standard Earnings: 12 EDGE Reward Points per ₹200 spent for expenditures up to ₹1.5 lakh per calendar month.
• Accelerated Earnings Tier: For spends exceeding ₹1.5 lakh in a calendar month, a higher rate of 35 EDGE Reward Points per ₹200 applies.
• Cap on Accelerated Earnings: This higher rate is applicable for spends above ₹1.5 lakhs and up to a threshold defined as the cardholder's credit limit plus an additional ₹1.5 lakhs per calendar month.
• Post-Cap Earnings: Spending beyond this upper threshold reverts to the standard 12 EDGE Reward Points per ₹200. 

Below are illustrations of the rewards that can be earned in a calendar month:

8. Axis Bank Reserve Credit Card  

Effective 20 June 2025, the Reserve Credit Card will see a change in how accelerated rewards are earned on international transactions:

• Cardholders will earn 2X EDGE REWARD Points (translating to 30 EDGE REWARD Points per ₹200) on eligible international spends. This accelerated rate is applicable for spends up to the cardholder's credit limit within a calendar month.
• For international spends that exceed the credit limit in a calendar month, the earning rate will revert to the standard 15 EDGE REWARD Points per ₹200.
• The crediting of these points will be in two parts: base points (15 per ₹200) within 7 days, and the additional accelerated points (15 per ₹200) on the 45th day from the end of the calendar month. 

Also, check out the Top Axis Bank credit cards with features, eligibility, and charges on Finology Select.

Conclusion

The wave of changes to Axis Bank credit cards underscores a significant strategic shift by the bank. Cardholders across all segments, from entry-level to super-premium, are affected. It's imperative to:

• Thoroughly Review Your Card(s): Understand precisely how these devaluations and modifications impact the specific Axis Bank cards you hold.
• Re-evaluate Your Spending Strategy: Assess if your current cards still align with your spending patterns and reward goals in light of new earning structures, caps, and benefit withdrawals.
• Stay Vigilant: Keep a close watch on all communications from Axis Bank, as terms and conditions can evolve.

While many of these adjustments reduce value, particularly for high spenders and those who maximise travel benefits like lounge access and points transfers, some targeted offers might still provide value depending on individual usage. The landscape has undeniably changed, and proactive adaptation is key to effectively navigating the new Axis Bank credit card scene.

References

• Axis Bank Privilege Credit Card 
• Flipkart Axis Bank Credit Card
• Axis Bank Neo Credit Card
• Axis Bank Rewards Credit Card
• Axis Bank Select Credit Card
• Axis Bank Magnus for Burgundy
• Axis Bank Reserve Credit Card