Axis Bank is rolling out a fresh set of changes across its suite of credit cards, affecting both how rewards are tracked and what perks users can expect across popular platforms like Flipkart, Myntra, Zomato, and Swiggy. These changes are a part of a broader shift in the way Axis Bank is fine-tuning its credit card portfolio, aiming to maintain the long-term viability of its rewards engine while discouraging gaming of the system.
Let’s take a deep dive into the key changes — some of which take effect from June 20, 2025, while others will go live later in the year from October 1, 2025. If you are looking for changes to the HNI Card Portfolio, which includes the Magnus for Burgundy and the Reserve Credit Card, those changes are discussed here.
General Changes to Reward Tracking and Forfeiture
Rewards to Be Tracked by Transaction Category instead of MCC, effective June 20, 2025
Banks usually track card spending and reward eligibility based on the Merchant Category Code (MCC) associated with each transaction. This code is issued by the networks such as Visa, MasterCard and American Express, and is a globally recognised system of identifying transactions.
From June 20, 2025, this will change. Axis Bank will begin determining reward eligibility using a new “transaction category” system. While MCCs are industry-standard, they can often be ambiguous or lead to misclassification, Axis Bank thinks. By moving to a transaction category model — presumably internal or proprietary — Axis will likely gain more control and granularity in how it rewards transactions.
For cardholders, this may mean increased uncertainty over what qualifies for rewards, but it may also limit some edge-case spends that were previously slipping through. For example, payments made through financial service platforms, education portals, or wallet reloads may be categorised more stringently going forward.
EDGE Points/Miles Forfeiture Rule Tightened, effective October 1, 2025
Axis Bank will now forfeit any unredeemed EDGE Reward Points or EDGE Miles:
• 30 days after card closure
• 90+ days of card payment overdue
This move aligns with standard industry practices but acts as a wake-up call for dormant users or those who hold on to points hoping for better redemption rates in the future. If you’re planning to close your Axis card, make sure to redeem your rewards well before the 30-day cut-off to avoid forfeiture.
Privilege Credit Card: Movie Nights Just Got Better
Axis Bank Privilege Credit Card, which is currently being offered free for life, is now going to offer:
• Buy-One-Get-One Free Movie Ticket offers via the District app
• Discount capped at INR 250 per month
• Offer valid only once a month and only on a minimum of two ticket bookings
Flipkart Axis Bank Credit Card: Myntra Boost & Continuity Elsewhere
Axis Bank is shaking things up for its co-branded Flipkart credit card, adding new benefits and preserving some of the old.
Myntra Cashback Increases to 7.5% effective June 20, 2025
In a massive bump from the previous 1% cashback, the Flipkart Axis Bank Credit Card will now offer:
- 7.5% cashback on Myntra
- Capped at INR 4,000 per statement quarter
This represents a 7.5x improvement in rewards and positions the card as a serious contender for fashion-forward customers. Given the average cart size on Myntra, this benefit is likely to appeal to frequent shoppers who can now unlock tangible cashback value.
Flipkart & Cleartrip Cashback Capped
Flipkart and Cleartrip bookings will continue to earn 5% cashback, but they are now capped at INR 4,000 per quarter per partner. This signals stability for those who rely on Flipkart for electronics, groceries, and household items, and on Cleartrip for travel bookings; however, gaming goes away, hopefully.
The Lounge Access feature on this card goes away, though.
Neo Credit Card: Zomato Discount Revised
The Axis Bank Neo Credit Card has been popular among users looking for savings on food delivery. However, there’s a shift here, too. Previously, the 40% off was on INR 200 + orders (which was more valuable on smaller orders). Now, the new Zomato discount will be for INR 120 off on INR 499+ Orders. The base amount will have to be INR 499, ex taxes and so on. The discounting continues to work twice a month. This will be the policy implemented from July 1, 2025.
Axis Rewards Credit Card: Flat Discounts on Swiggy
Similar to the Neo Card, the Axis Rewards Credit Card will offer an INR 150 discount on Swiggy orders worth INR 500 or more, effective July 1, 2025. The discounting continues to work twice a month.
Axis Select Credit Card: BigBasket and Movie Offer Refreshed
The Axis Bank Select Credit Card gets the following benefit refresh:
- District App BOGO Movie Tickets: Up to INR 250 off per month, valid twice monthly
- BigBasket: INR 500 Off on Minimum INR 2,500 Spend, instead of the INR 3,000 spending required currently.
Both changes bring practical, high-utility savings to a segment of cardholders who lean towards curated privileges. The BigBasket discount especially stands out in a landscape where grocery spend continues to be a large recurring category.
Bottomline
Axis Bank’s new slate of updates to its credit card portfolio reflects a maturing rewards environment. The revised benefit structures, while slightly more guarded, aim to retain high-value propositions for genuine users while cracking down on those who previously gamed the system.
Transitioning from MCC to transaction category-based rewards tracking indicates a sophisticated backend revamp, and the new redemption cut-offs promote timely usage of earned rewards. Meanwhile, the cashback boosts on Myntra, movie ticket privileges via District, and revamped food delivery discounts continue to offer good value if used strategically.
In essence, while some users may feel a pinch from the reduced frequency or shifted structure of benefits, the cards still offer substantial perks, especially when aligned to real-world usage patterns. This approach may help Axis Bank preserve the long-term sustainability of its credit card programme — something increasingly necessary in a crowded and competitive rewards market.
If you’re holding an Axis Bank credit card, now would be a good time to evaluate which category you spend most on, and whether your current card is still the right fit, or whether it’s time to explore alternatives within the Axis lineup.
What do you make of the changes to the Axis Bank Credit Cards coming up?
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