It is the same thing I write over and over again, but blame it on human nature: not getting into the details and only reading the headline, which leads to panic.
Earlier this week, a (what seems to be almost true) rumour surfaced about the imminent closure of the Axis Bank Atlas Credit Card for new applications. For many people, they are still able to obtain the Atlas by calling the bank and upgrading their cards or acquiring a new floater card, but existing cardholders are panicking about what will happen to their cards.
What should we do with the Atlas going forward?
Nothing, basically. For existing cardmembers, there are no changes to the card features or the points availability offered by the bank. Over the past couple of days, I’ve received DMs and emails from panicked cardmembers inquiring about which is the safest bet for them to transfer their points into. And I’ve been thinking, ‘ This doesn’t affect you at all, so why are you bothered? ‘
So, that is what I wanted to highlight here. There is no change in the status quo for existing members. The product may be too popular, so Axis Bank intends to take a breather on it; hence, they are putting a pause on the sourcing. Or, the Bank is developing a new iteration of its hugely popular card. The Bank may want to promote the Horizon Card for the time being.
However, the bank has not made any changes for now, so existing cardholders will not experience any detriment. And if the Bank decides to change something that is a significant part of the card, they will provide notice to existing cardholders for at least a month before making the change. So, you can continue to spend on the card, earn your normal and milestone spends, and transfer on a need basis rather than as a knee-jerk reaction to something that does not affect them.
Bottomline
Axis Bank may be stopping the sourcing of new Axis Bank Atlas Cards, but they are not changing this for existing customers for the time being. Hold on to them. Use them as you usually would, and redeem them accordingly. That is what I will do with it.
What are your thoughts on the Axis Bank Atlas Credit Card?
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Could an existing MyZone or Club Vistara card be upgraded to Atlas if it’s still available? I understand Atlas is still valuable with a total fee of 5.9k yearly.
@Kumar, you can try your luck calling the Bank. Tell us too!
Olympus is getting introduced next month, that’s why Atlas is being discontinued.
@Vishal Mehra, Source?
Hi what can be the best use if edge rewards points crosses 8 lacs in a year?
transfer to air india and book a vacation for me….