Axis Bank has introduced a change in how its cards will earn EDGE Rewards. Several categories will now not be eligible to earn any EDGE Rewards on Axis Bank credit cards. This is a sharp devaluation as some of the categories are where we would incur high spending. The changes are effective from 15th November, 2022.
Categories excluded from earning EDGE Rewards
- Rent Payments: MCC 6513
- Fuel: MCC 5541, 5542, 5983
- Utilities: MCC 4814, 4816, 4899, 4900
- Educational Services: MCC 8211, 8241, 8244, 8249, 8299
- Government Institutions: MCC 9211, 9222, 9311, 9399, 9402, 9405, 8220
The above categories are where a household incurs a high amount of expenses. Rent, children’s education, and utility bills are all necessary expenses. While one can argue that rent payments are misused, we also have genuine rent payers as well.
Which cards is this applicable for?
The notification does not include top-end cards like Magnus, Reserve, and Burgundy Private. The list of cards for which this is applicable is Affluent Signature, Titanium, Infinite, Pride Platinum Credit Card, IndianOil, Signature, Buzz, My Choice, Neo, Instant Neo, My Wings, Advantage, AURA, Visa Platinum, VISA GOLD, Pride Signature, My Zone, My Zone Easy, Signature Premier, Visa Silver, Insta Easy, Wealth Signature and Privilege. So, basically all EDGE Rewards cards including those that are now discontinued.
The notification also includes the cashback Ace credit card. But, it does not earn EDGE Rewards. So, there is no impact.
Probably more cuts on the way
Right now Magnus and Reserve are lucrative cards, more for miles and hotel points. Magnus’s 25K EDGE RP milestone has caught the attention of all card enthusiasts. Axis Bank has not touched these now and hopefully these benefits stay on for a longer time.
If you hold any of the cards where rewards are being discontinued on the above categories, then it is time to move. SC Ultimate is an ideal fit as it gives uncapped 3.3% rewards on all spends be it rent or education or utitlies. So, less stress on whether a spend will give you rewards or not.
For more details on this change from Axis Bank, visit the official announcement.
2 thoughts on “Axis Bank stops EDGE Rewards on Rent, Fuel, Utilities, Education, and Government Services”
What os MCC 4814,4816,4899,4900
You can refer to the MCC document from Citi.