Upcoming Changes to Axis Bank’s Magnus Credit Card: The highly regarded Magnus credit card from Axis Bank will lose some of its allure. Beginning on September 1, the bank will implement changes that reduce the value of card rewards and exclude certain payment categories from accumulating reward points. Among the modifications is the elimination of the Tata CLiQ voucher for newly enrolled members.
The following are the updated terms and conditions for the Axis Bank Magnus credit card, effective September 1:
Positive benefits
Customers who join the service on or after September 1, 2023 will be able to choose one of three Rs 12,500 vouchers: a Luxe gift card, a Postcard Hotels gift voucher, or a Yatra gift voucher.
The option to select a Tata CLiQ voucher will no longer be available.
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Annual advantage
Effective 1 September 2023, the annual fee will be reduced from Rs 10,000 (+GST) to Rs 2,500 (+GST) for new consumers.
The annual voucher worth Rs 10,000 will no longer be provided.
The annual fee exemption requirement will be updated. Customers enrolled on or after September 1, 2023 will receive a Rs 12,500 fee waiver if they spent Rs 25,00,000 in the previous card anniversary year.
For customers onboarded prior to September 1, 2023, an annual charge waiver will be applicable for cumulative card anniversary year spending of Rs 15 lakh. On card anniversary dates after September 1, 2024, however, these customers will receive a fee waiver for cumulative spending of Rs 25 lakh in the antecedent card anniversary year.
EDGE Benefits and Milestone Rewards
On September 1, 2023, the monthly milestone advantages of 25,000 EDGE reward points for spending Rs 1 lakh per month will be discontinued. August 2023 expenditures will be eligible for monthly milestones, and eligible customers will receive 25,000 EDGE Reward Points within the normal timeframe of 90 days.
Beginning on September 1, 2023, customers will be able to acquire 12 EDGE reward points for every Rs 200 spent on monthly expenditures of up to Rs 1.5 lakh. They will earn 60 EDGE reward points for every Rs 200 spent on the Travel Edge portal, up to a maximum of Rs 2 lakh in monthly transactions. They can earn 35 EDGE reward points for every Rs 200 spent above Rs 2 lakh in monthly transactions.
Miles Transfer System
Customers can link only one partner programme loyalty ID for each airline/hotel transfer partner at any given moment. If a customer desires to link a second ID, the existing primary ID will be delinked by default.
The consumer must wait 60 days after updating the partner loyalty ID with Axis Bank Travel EDGE before updating the secondary/new partner loyalty ID for each individual partner programme.
The inventory of lounges accessible with a Priority Pass has been revised.
Here is the list of domestic facilities to which Priority Pass members have access:
| Sr no | City | Lounge Name |
| 1 | Agartala | Primus Lounge |
| 2 | Allahabad/Prayagraj | Zesto Executive lounge |
| 3 | Amritsar | Costa Coffee |
| 4 | Bhopal | Primus Lounge |
| 5 | Cochin | Earth Lounge |
| 6 | Dibrugarh | Primus Lounge |
| 7 | Guwahati | The Lounge |
| 8 | Kannur | Pearl Lounge Domestic |
| 9 | Madurai | Primus Lounge |
| 10 | Varanasi | Take Off Bar |
