Axis Bank has announced revised terms and conditions on its Magnus Credit Card, which will be applicable from September 1, 2023. In such a situation, 25000 points per month will not be available on the credit card and the annual fee of Axis Magnus has also been increased from Rs. 10,000 + GST to Rs. 12,500 + GST.
Credit Card Update: In today’s time, the trend of using credit card has increased a lot. Using a credit card, people get the facility to make payments within a limit and later this payment can be paid as a credit card bill. At the same time, people use credit cards more for the benefits of cashback, rewards points, discounts etc. However, now a bank has given a shock to the customers by taking a credit card.
Changed rules
In fact, Axis Bank has announced revised terms and conditions on its Magnus Credit Card, which will be applicable from September 1, 2023. In such a situation, 25000 points of the month will not be available on the credit card and the annual fee of Axis Magnus has also been increased from Rs. 10,000 + GST to Rs. 12,500 + GST.
Changes in
Along with this, the spending-based exemption condition has also been revised from Rs 15 lakh to Rs 25 lakh, which will be a big jump for many users. Now no renewal voucher will be given in this. And the transfer ratio has been changed from 5:4 to 5:2. Also, the option to choose Tata CLiQ vouchers will be discontinued.
Now customers joining the card from September 1, 2023, will be able to choose any one voucher as a welcome benefit from the following options-
* Lux Gift Card
* Postcard Hotel Gift Voucher
* Travel Gift Vouchers
Milestone
Spends made in August 2023 will be eligible for the monthly milestone and 25,000 EDGE Reward Points for eligible customers will be posted within 90 days as per the normal deadline. 25,000 EDGE Reward Points will be posted by July 31, 2023 for customers who have achieved Monthly Milestones in May 2023 and June 2023. 25,000 EDGE Reward Points will be posted by August 10, 2023 for customers who achieve monthly milestones in July 2023.
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