Just like the year 2024, Axis Bank has continued its tradition of credit card devaluation, implementing significant changes for almost all Axis Bank Credit Cardholders. This year, the bank has announced some positive and some negative updates for various credit cards in the month of May. These changes shall start taking effect from 20th June, while some shall be implemented from October 2025 onwards. Major offerings, such as the Flipkart Axis and Magnus for Burgundy Credit Card, have experienced substantial devaluations. Some, like the Select and Privilege Credit Card, have been revalued.
Keeping track of these changes can be challenging, especially for those who hold more than one Axis credit card. Therefore, we will provide a detailed explanation of all the upcoming changes to various Axis Bank credit cards.
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7.5% Cashback on Myntra, No More Airport Lounge Access With Flipkart Axis Credit Card
Those with the Flipkart Axis Credit Card will now earn 7.5% cashback on Myntra purchases, up from the earlier 1%, with a maximum cashback of ₹4,000 per statement quarter. Cardholders shall continue to earn 5% cashback on Flipkart and Cleartrip, but the cashback is now capped at ₹4,000 per statement quarter for each — ₹4,000 for Flipkart and ₹4,000 for Cleartrip. This means the end of unlimited cashback with the Flipkart Axis Credit Card from 20th June 2025.
Along with the above changes, which can be considered both positive and negative, Axis Bank has also removed free airport lounge access from its co-branded offering with Flipkart. This shall greatly affect current cardholders.
Check Complete Revisions for the Flipkart Axis Credit Card
NEW BOGO on Movies, Lower MOV for BigBasket Offer With Select Credit Card
While most Axis Bank Credit Cards have undergone some kind of negative change, the same cannot be said for the Select Credit Card offering. Not only is there a new added benefit of free movie tickets attached to it, but the minimum order value for the Big Basket offer has been reduced from ₹3,000 to ₹2,500. All of this definitely puts a tag of revaluation on the Axis Bank Select Credit Card.
- New BOGO movie offers on the District by Zomato. Discount up to ₹250, valid twice each month.
- ₹500 Discount on Big Basket on a reduced minimum order value of ₹2,500.
Check Complete Revisions for Axis Select Credit Card
BOGO on Movies With Privilege Credit Card
From 20 June onwards, those with an Axis Privilege Credit Card will be able to take advantage of Buy One Get One on movie ticket bookings via District by Zomato. This newly added benefit will provide cardholders with a free movie ticket worth ₹250 each month.
This shall be valid on a minimum purchase of two movie tickets. No devaluations have been announced for the Privilege Credit Card.
Check Complete Revisions for Privilege Credit Card
Increase in MOV for Zomato Offer With Neo Credit Card
From 1st July 2025 onwards
- Discount: Flat ₹120 off per order
- Minimum Order Value: ₹499 (increased from ₹200)
- Frequency: Twice per month
This change means that to avail the ₹120 discount with the Neo Credit Card, your Zomato order must now meet the higher minimum value of ₹499 instead of ₹200. The discount remains at a flat ₹120 per order, applicable twice a month.
Check Complete Revisions for Neo Credit Card
Change in Renewal Benefits With MyZone Credit Card
The renewal of the Sony LIV subscription for MyZone Credit Cardholders who spend ₹1,50,000 or more in their card anniversary year will be discontinued starting April 1, 2026. From that date, all MyZone Credit Cardholders will earn 1,000 EDGE REWARD Points (worth ₹200) for achieving annual spending of ₹1.5 lakhs in their card anniversary year.
Check Complete Revisions for MyZone Credit Card
Increase in MOV for Swiggy Order With Rewards Credit Card
All Rewards Credit Cards are eligible for a flat ₹150 instant discount on a minimum transaction value of ₹500, instead of the previous minimum order value of ₹200. This offer is limited to two uses per calendar month per card. To take advantage of the discount, use the code “AXISREWARDS” at checkout.
Check Complete Revisions for Rewards Credit Card
Cap on Reward Earning Based on Credit Limit for Magnus/Magnus for Burgundy Credit Card
Axis Bank has revised the rewards earning structure for the Magnus/Magnus for Burgundy Credit Card, effective 20th June, 2025. Under the new system, cardholders will now earn 12 EDGE REWARD Points per ₹200 spent on all transactions up to ₹1.5 lakh per calendar month. Once the spending crosses ₹1.5 lakh, they shall earn a higher rate of 35 EDGE REWARD Points per ₹200 – but only on spends up to their credit limit + ₹1.5 lakh. After crossing that threshold, the rewards rate drops back to 12 points per ₹200.
This effectively introduces a cap on the high rewards rate, which was earlier unlimited above ₹1 lakh spend, thereby reducing the potential value for heavy spenders. Those who used the Magnus for Burgundy Credit Card to pay for luxury cars and magnificent vacations shall no longer be able to extract the same reward rate.
Check Complete Revisions for Magnus for Burgundy Credit Card
Cap on Accelerated EDGE Points Earning With Reserve Credit Card
Reserve Credit Cardholders will earn 2X EDGE REWARD Points on international purchases, which means they will earn 30 EDGE REWARD Points per ₹200 for international spending, up to their credit limit each calendar month. After reaching the respective credit limit, cardholders will earn 15 EDGE REWARD Points per ₹200 on any additional international spending.
Check Complete Revisions for Reserve Credit Card
NEW Update to Spend Exclusions for Reward Earnings and Fee Waiver Calculations
“There is no change to the spend categories excluded from earning rewards and spend spend-based fee waiver calculation. However, to simplify, such transactions will be identified based on the spend category (Utility & Telecom, Rent, Wallet, etc.) rather than the assigned 4-digit Merchant Category Code (MCC)”
The excluded spend categories for reward earn/spend fee waivers are transactions made on utility and telecom, rent, wallets, government services, insurance, gold and jewellery, fuel, and educational services. This change shall be valid across various Axis Bank Credit Cards.
NEW Forfeiture Policy for EDGE REWARD Points/EDGE Miles on Card Closure/Payment Delays
From 1st October 2025, “The Bank will reserve the right to forfeit unredeemed EDGE REWARD Points/EDGE Miles post 30 days of your credit card closure or if the minimum amount due on your credit card is outstanding for more than 90 days. In case of card closure, we would encourage you to redeem your EDGE REWARD Points/EDGE Miles within 30 days of closure”
This is a common change in policy across all Axis Credit Cards.
Bottom Line
Clearly, this revaluation and devaluation mix will be challenging for all of us to track. Since Axis Bank has made significant changes to its credit card offerings, including the exclusions for reward earning, which will now be tracked by category rather than by Merchant Category Code (MCC), this will likely lead to confusion in understanding and verifying the details.
Nonetheless, all Axis Bank credit cardholders should check their emails and messages to stay informed about the upcoming changes to their cards. From the drastic devaluations of Axis Flipkart to the revaluation of Axis Select, there is a lot to process.
While many may feel disheartened, others are celebrating that their favorites, like Axis Atlas, have been safe from this May 2025 devaluation for now.
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