Axis Bank Atlas Credit Card to be Devalued Effective April 20, 2024

Axis Bank has announced major changes to its Atlas Credit Card, starting April 20, 2024. These changes will impact reward earnings, annual benefits, and transfer of mileage points. It looks like the bank is reacting to people taking advantage of the card’s generous rewards system.

Key Changes to Atlas Card Rewards

• Spending Exclusions: Gold/jewelry, rent, wallets, government institutions, insurance, fuel, and utilities will no longer earn EDGE Miles.
• Milestone Restrictions: These same types of spending won’t count towards your annual spending milestones for extra bonuses.
• Mileage Earning Cap: You’ll earn a maximum of 5 EDGE Miles per INR 100 on travel-related spending up to INR 2 lakhs per month. Beyond that, you only earn 2 EDGE Miles per INR 100.
• Reduced Milestone Bonuses: You’ll get fewer EDGE Miles for hitting spending milestones throughout the year.

Limits on Transferring Miles to Airlines & Hotels

Axis Bank is also putting limits on how many EDGE Miles you can convert to airline and hotel points each year. Here’s the breakdown:

• Overall Cap: 150,000 EDGE Miles transferred per year
• Category A Partners Cap: 30,000 EDGE Miles transferred per year (This includes popular programs like Singapore Airlines and United)
• Category B Partners Cap: 120,000 EDGE Miles transferred per year

Important: Find the full lists of Category A and Category B partners on the Axis Bank website.

Should You Keep the Atlas Card?

These changes significantly reduce the value of the Atlas Credit Card, especially if you enjoyed the travel perks. Here’s the bottom line:

• Loss of Lifestyle Benefits: The free airport transfers and meet & greet services are gone.
• Limits on Earning & Transferring Miles: You’ll earn fewer miles, and there are strict limits on how you can transfer them to airlines and hotels.
• Consider Alternatives: It might be time to look for a different travel rewards credit card that better suits your spending and travel habits

Important: Use up any existing benefits or points by April 19th, 2024, before the changes take effect.