Axis Bank has revised the terms and conditions applicable to all the customers possessing Axis Bank Reserve Credit Card.
By Crox Times Desk: The bank has revised the terms and conditions for Axis Bank Reserve Credit Card. The revised rules will be applicable to all cardholders with effect from 13th August 2023.
Here are some details that you must know.
Revision of Transaction MCC (Merchant Category Code) evaluated for Annual
Fee waiver and Edge Program.
The bank said spending on government and utilities will be excluded from the annual fee waiver.
And furthermore, expenses on Government Institutions will be excluded from EDGE Reward Points.
The revised Conversion rate of EDGE Transfer Program
Now customers will be to transfer EDGE Reward Points to domestic and airline partners. However, the revised transfer ratio of 5:1 (5 EDGE Reward Points: 1 Partner/1 Mile)
The Total EDGE Reward Points that can be converted to partner points in a calendar year are now limited to only 5,00,000 EDGE Reward Points.
Now for the year 2023, customers can convert 5,00,000 EDGE reward points from 13th August 2023- 31st December 2023.
Customers can now redeem their Edge Reward Points by transferring them to 19 domestic and international airline and hotel partners.
As per the bank, there are no certain changes in the airport lounge proportion.