Axis Bank has revised its rules regarding airport lounge access of its Burgundy, Delight, Priority, and other debit cards. Further, the bank has also revised BookMyShow offers, reward point rules (EDGE rewards) and a specific feature-related to international usage of its debit cards.
According to an email sent by Axis Bank to its customers dated March 21, 2024 “While you continue to make the most of your Axis Bank Debit Card, we would like to update you regarding a few changes to the features on your Debit Card and/or Account with effect from 1st May 2024…”
Also read: Axis Bank stops redemption of credit card reward points earned by these customers.
What rules have been revised for various Axis Bank debit cards
Given below are some of the Axis Bank debit cards where airport lounge access, reward points and other rules were revised:
Axis Bank BURGUNDY debit card rules changed from May 1, 2024
The following rules applicable to Axis Bank Burgundy debit card holders have been revised:
- Lounge Access Benefit
- 1% mark-up fee on Dynamic Currency Conversion (DCC) transactions
- BookMyShow Offer
- EDGE REWARDS Program
Lounge Program: As per Axis Bank Burgundy debit card’s updated terms and conditions document, “Lounge access benefits will be based on Debit Card spends. To access complimentary lounge from 1st May 2024 onwards, minimum spends required will be Rs. 5,000 over the previous 3 calendar months. In case of a newly issued Debit Card, the minimum spend criteria is waived for the month of issuance followed by the next 3 calendar months.”
1% mark-up fee on Dynamic Currency Conversion (DCC) transactions: A Dynamic Currency Conversion (DCC) markup fee of 1% plus GST will be applicable on each international transaction done in Indian currency at international locations or transactions done in Indian currency with merchants located in India but registered in a foreign nation using ‘Axis Bank BURGUNDY Debit Card’.
DCC is applicable on international transactions made through swipe machine or online, either at an international location or with a merchant located in India but registered in a foreign nation.
BookMyShow offer: The table below shows the updated rules for using Axis Bank Burgundy for availing BookMyShow offers.
Axis Bank Burgundy
Source: Axis Bank Burgundy debit card terms and conditions
EDGE REWARDS program: As per the updated terms and conditions of Axis Bank Burgundy debit card, there will be no EDGE REWARD points for rent and utility services. The following transactions come under utility services:
- Insurance/FI/Foreign Currency: MCC codes 4829, 6012, 6050, 6051, 6211, 6300, 6381, 6399, 6531, 6532, 6533, 6534, 6535, 6611, 6760, 72726
- Charities: MCC Codes 8398
- Government Services: MCC code 8111, 9211, 9222, 9223, 9311, 9312, 9313, 9314, 9399, 9402, 9405, 9411
- Jewellery: MCC Code 5094, 5944
- Education: MCC code 8211, 8220, 8241, 8244, 8249, 8299, 8493, 8494
- Cash Withdrawal: MCC code 6010, 6011
- Fuel: MCC code 5172, 5541, 5542, 5983
- Transport: MCC code 4111, 4119, 4121, 4131, 4214, 4789, 4784
- Wallet: 4814, 6540
- Visa: 9700, 9701, 9702, 9950
- Rent: 6513
- Utility: 4814, 4816, 4899, 4900
“A maximum of 2000 EDGE REWARD Points can be earned per month on Axis Bank BURGUNDY Debit Card. Any EDGE REWARD Points already earned on above stated categories before 01-May 2024 will remain unaffected,” said Axis Bank in its updated terms and conditions for BURGUNDY Debit Card.
Axis Bank PRIORITY debit card rule changes from May 1, 2024
The following rules have been changed for Axis Bank PRIORITY Debit Card holders:
- Lounge access,
- 1% mark-up fee on Dynamic Currency Conversion (DCC) transactions
- BookMyShow Offer
- EDGE REWARDS Program
Lounge access: To get complimentary lounge access from May 1, 2024, onwards, minimum spends required will be Rs 5,000 over the previous three calendar months. In case of a newly issued debit card, the minimum spend criteria are waived for the month of issuance followed by the next 3 calendar months.
1% mark-up fee on Dynamic Currency Conversion (DCC) transactions: A Dynamic Currency Conversion (DCC) markup fee of 1% plus GST will be applicable on each international transaction done in Indian currency at an international location or transactions done in Indian currency with merchants located in India but registered in a foreign nation using your Axis Bank PRIORITY Debit Card. DCC is applicable on international transactions made through swipe machine or online, either at an international location or with a merchant located in India but registered in a foreign nation.
BookMyShow Offer: The table below shows the updated rules for using Axis Bank Priority for availing BookMyShow offers.
Axis Bank Priority BookMyShow
Source: Axis Bank Priority Debit card terms and conditions
EDGE REWARDS Program: As per the bank’s terms and conditions, “Transactions done with Priority Debit Card towards rent payment and utility services will not be eligible for EDGE REWARD points.” The following categories won’t get any EDGE REWARD points:
- Rent: MCC code 6513
- Utility: MCC Code 4814, 4816, 4899, 4900
Axis Bank DELIGHT debit card rule changes from May 1, 2024
The following rules have changed for Axis Bank Delight debit card users from May 1, 2024
- Lounge Program,
- 1% mark-up fee on Dynamic Currency Conversion (DCC) transactions
Lounge program: To get complimentary lounge access from May 1, 2024, minimum spends required will be Rs 5,000 over the previous three calendar months. In case of a newly issued debit card, the minimum spend criteria is waived for the month of issuance followed by the next three calendar months, as per the updated terms and conditions of Axis Bank Delight debit card.
1% mark-up fee on Dynamic Currency Conversion (DCC) transactions: As per the Axis Bank Delight debit card’s terms and conditions, a Dynamic Currency Conversion (DCC) markup fee of 1% plus GST will be applicable on each international transaction done in Indian currency at international location or transactions done in Indian currency with merchants located in India but registered in a foreign nation using your Axis Bank DELIGHT Debit Card. DCC is applicable on international transactions made through Swipe Machine or online, either at international location or with a merchant located in India but registered in a foreign nation.
Why did Axis Bank revise its debit card terms?
According to Sanjeev Moghe, President & Head, Cards and Payments, Axis Bank, “Cards being a dynamic segment, evaluating usage of features and benefits offered on various products is an ongoing and periodic exercise. Modifications to encourage usage, deepen relationships and drive profitability reflect common industry practices around the card businesses.”
According to Ankur Mittal, Co-Founder, Card Insider, a credit card comparison website, “Banks incur a minimum cost of approximately Rs 800 for each Airport lounge access. To prevent misuse of the lounge access feature and minimise the bank’s expenditures, Axis Bank is now requiring customers to spend Rs 5,000 in the previous quarter.”
“Furthermore, the decision to exclude certain spending categories from reward point eligibility and to impose a cap on the monthly accumulation of reward points addresses issues related to the exploitation of the rewards system by a subset of users. These adjustments aim to maintain the sustainability of the rewards program,” Mittal added.
