Axis Bank Updates Debit Card Rules, Effective From May 1 | Personal Finance News


New Delhi: Axis Bank, a leading private sector bank in India, is set to implement modifications to the benefits associated with its debit and credit cards, effective from May 1, 2024. These changes will impact users of the Burgundy, Delight, and Priority debit cards, as well as the Magnus credit card.

Changes To Burgundy Debit Card

For Burgundy debit cardholders, certain criteria will now apply to qualify for complimentary access to airport lounges. Users will need to conduct transactions worth at least Rs 5,000 via their card in the three months preceding May. (Also Read: Big Blow To Home Loan Borrowers! HDFC Bank Raises Lending Rates To 9.8%)

Additionally, a 1 percent mark-up fee on dynamic currency conversion will be imposed on Burgundy cardholders for international transactions, whether carried out on swipe machines or online platforms abroad. (Also Read: Good News For MGNREGA Employees! Centre Announces Pay Hike: Check State-Wise Wages Here)

However, they will benefit from the BookMyShow offer, with access to four tickets valued at Rs 500 each and four tickets valued at Rs 1,000 each per month.

Changes To Priority Debit Card

Priority cardholders will largely retain their existing benefits. However, adjustments have been made to the BookMyShow offer, with users now eligible for a 25 percent discount on tickets (up to Rs 350) and a 20 percent discount on food and beverages (up to Rs 60).

Changes To Delight Debit Card

The Delight card will undergo significant changes, including the discontinuation of international transactions and BookMyShow benefits.

Changes To Magnus Credit Card

From April 20, 2024, Axis Bank will implement changes to its Magnus credit card. Reward earnings will be adjusted, and benefits such as complimentary concierge services and airport meet and assist services will be discontinued.

Spends on insurance, gold/jewellery, and fuel categories will no longer qualify for reward points. Additionally, lounge access programmes will be revised, requiring a minimum spend of Rs 50,000 in the preceding three months for lounge access.

The number of complimentary guest visits for both domestic and international lounges will be reduced from eight to four per calendar year.

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