Axis Bank Magnus Credit Card Devaluation: What You Need to Know

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Axis Bank Magnus Credit Card Devaluation: What You Need to Know

Axis Bank has announced that it will be devaluing the rewards program for its Magnus credit card. This means that cardholders will earn fewer points for every rupee they spend.

The devaluation will take effect on August 12, 2023. Under the new program, cardholders will earn 5 points for every Rs. 100 spent, instead of the current 5 points for every Rs. 40 spent.

This means that cardholders will need to spend twice as much to earn the same number of points. As a result, the value of the Magnus credit card will be significantly reduced.

Axis Bank has said that the devaluation is necessary to “ensure the long-term sustainability of the rewards program.” However, many cardholders are unhappy with the change, and they have taken to social media to express their displeasure.

If you are an Axis Bank Magnus credit cardholder, you should be aware of the devaluation and its impact on your rewards. You may want to consider switching to a different credit card with a more generous rewards program.

Axis Bank's Magnus Devaluation: The Impact on Axis Magnus Super Premium  Card - Indian Spectator

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