Last Updated: March 22, 2024, 13:15 IST
In the latest development, Axis Bank has announced some major changes to its Magnus Credit Card, including tweaks in reward earnings and annual fee waiver exclusions, among others, effective from April 20. Notably, the Magnus Credit Cards by Axis Bank are travel and stay cards that come with a number of benefits, including hotel discounts, concierge service, and more. The premium card also offers strong benefits across various other categories.
Changes in Axis Bank Magnus Credit Card:
1. The premium credit card’s spend threshold for the annual fee waiver will not include any spending made on insurance, jewellery, or fuel.
2. Expenses made on fuel, insurance and jewellery will not be eligible for basic or expedited EDGE REWARD Points.
3. A couple of features will be discontinued, such as complimentary airport meet and greet services, BookMyShow’s Buy-One-Get-One free movie/non-movie ticket, and 24×7 free concierge services.
4. As per the updated changes, the reward points can be transferred to select airline or hotel loyalty programs in a 5:2 ratio. This means that for 50,000 Axis EDGE Reward Points, one will be able to get 20,000 partner miles. One can also redeem their accumulated reward points at the EDGE Rewards catalogue and choose between a variety of vouchers across multiple categories. Additionally, one can also opt for ‘Pay with Point’ at partner stores.
5. A few revisions have been made to the domestic airport lounge access program, such as that lounge access benefits will be based on the user’s MAGNUS Credit Card spends in the previous 3 calendar months. Also, to access the complimentary lounge from May 1, 2024, onwards, one will need to make a minimum spend of Rs 50,000 during the previous 3 calendar months. In the case of new cards, the minimum spend criteria are waived for the month of issuance, followed by the next 3 calendar months.
6. Changes have also been made to airport lounge access for both domestic and international programs.
– In the case of the domestic lounge, all Magnus customers will have four guest visits accessible from 20 April to 31 December 2024, regardless of the number of guest visits used up to 19 April 2024.
– In the case of the international lounge, all Magnus customers will have 4 guest visits available from 20 April until the card anniversary date, irrespective of the number of guest visits utilised until April 2024.