While I am not done yet describing the bloodbath that Axis Bank Credit Cards put out on all its credit card products earlier this week, there have been more updates from Axis Bank. Other banking products using the EDGE Rewards points currency will also change. Axis Bank’s debit cards have also released many updates about how they would restrict the award of EDGE Rewards.

EDGE Rewards to be not awarded on various new categories of spending

Axis Bank’s Debit Cards will roll out new restrictions on EDGE Rewards earnings as of May 1, 2024. The first step is to restrict the earning of EDGE Rewards on various transaction types, such as rent and utility payments. The following are some of the Axis Bank Debit Cards that will be restricting EDGE Rewards on these categories:

• Prestige
• Burgundy
• Priority
• Liberty

EDGE Rewards earning capped

EDGE Rewards earnings on all these cards have also been capped per month, effective May 2024. Traditionally, Debit Card spending was not subject to an upper cap.

• Prestige: 1200 EDGE Rewards per month
• Burgundy: 2000 EDGE Rewards per month
• Priority: 1500 EDGE Rewards per month
• Liberty: 1000 EDGE Rewards per month

Lounge Access linked to spending on debit cards

Axis Bank is linking their debit Card-based lounge access to spending on these debit cards, just like they are doing for credit cards. The saving grace is that it is not an ask of INR 50,000 (like for the credit cards), but just INR 5,000 spending over three calendar months. New terms for lounge access go live effective May 1, 2024. Here are some of the Axis Bank Debit Cards that are being affected by the new policy:

• Delight
• Burgundy
• Priority
• Prestige
• Liberty

Read more about why Lounges are loss leaders for banks.

Dynamic Currency Conversion to be applicable

Axis Bank Debit Cards will start charging a 1% + Tax DCC Charge on international transactions done in Indian currency, either online or with a card present, using your Axis Bank Debit Cards. This charge applies when transactions are done at international locations or with a merchant located in India but registered in a foreign nation. Apply for the following debit cards:

• Delight
• Burgundy
• Priority
• Prestige
• Liberty

Here are the T&Cs for various Axis Bank Debit Cards: Prestige, Liberty, Priority, Delight and Burgundy.

Bottomline

Axis Bank seems to have dug into a hole with its EDGE Rewards programme over the past two years, which has caused them to now look at its Rewards programme in deep detail and cut down all sorts of earning opportunities across the board. The cutbacks on lounge access and rewards point earning all go live on May 1, 2024.

What do you think of AXIS Bank’s upcoming changes to its debit card proposition?

---

Liked our articles and our efforts? Please pay an amount you are comfortable with; an amount you believe is the fair price for the content you have consumed. Please enter an amount in the box below and click on the button to pay; you can use Netbanking, Debit/Credit Cards, UPI, QR codes, or any Wallet to pay. Every contribution helps cover the cost of the content generated for your benefit.

(Important: to receive confirmation and details of your transaction, please enter a valid email address in the pop-up form that will appear after you click the ‘Pay Now’ button. For international transactions, use Paypal to process the transaction.)

We are not putting our articles behind any paywall where you are asked to pay before you read an article. We are asking you to pay after you have read the article if you are satisfied with the quality and our efforts.