Bank New Update: Under the new rules, from September 1, customers can earn 12 EDGE Reward Points for every Rs 200 spent up to Rs 1.5 lakh every month. They will be able to earn 60 EDGE Reward Points for every Rs.200 spent on the Travel Edge portal every month up to Rs.2 lakh.
Axis Bank Credit Card: Many new changes are going to be implemented on Axis Bank’s famous Magnus Credit Card from September 1. Under the new changes, along with reducing the rewards available through the card, specific payment categories will also be excluded from earning reward points. Apart from this, the change of discontinuing Tata CLiQ vouchers for new members is also included in this. Let’s take a look at the revised terms and conditions of the card –
Welcome benefits
Customers who become members of this card from September 1 next month will have only the option of Luxe gift card, Postcard Hotels gift voucher and Yatra gift to choose any voucher worth Rs 12,500. Out of this, the voucher option of Tata CLiQ will be removed.
annual benefit
After these changes, the annual benefit of Rs 10,000 voucher will be discontinued by reducing the annual fee for on-board customers from Rs 10,000 (+GST) to Rs 2,500 (+GST) from September 1, 2023.
Additionally, the conditions for annual fee exemption will also be updated and customers joining from September 1, 2023, will get a discount of Rs 12,500 on spends of Rs 25 lakh in the previous card anniversary year. Whereas, earlier this exemption was applicable on the amount of Rs 15 lakh. However, the same condition will be applicable for old customers for the next one year.
EDGE Rewards and Milestone Benefits
Under the old rules, the monthly milestone benefit of 25,000 EDGE Reward Points on every monthly spend of Rs 1 lakh will also be discontinued from September 1. However, spends done in August 2023 will be eligible for monthly milestones and as before, 25,000 EDGE Rewards points will be posted to customers within 90 days.
While under the new rules, from September 1, customers can earn 12 EDGE Reward Points for every Rs 200 spent on spending up to Rs 1.5 lakh every month. They will be able to earn 60 EDGE Reward Points for every Rs.200 spent on the Travel Edge portal every month up to Rs.2 lakh. Whereas for every Rs 200 spent above this, you will get 35 EDGE Reward Points.
Mile Transfer Program
For each Airline or Hotel Transfer Partners, the Customer can link only one Partners Program Loyalty ID per Partner at a given time. If a customer wants to link any other ID, the previously linked ID will be delinked by default.
For each individual partner program, the customer will have to wait for 60 days after updating the partner loyalty ID with Axis Bank Travel EDGE to update the new partner ID.
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