Axis Bank Credit Card Benefits Update June 2025 – Cashback, Rewards & Fee Waiver Changes

Axis Bank has rolled out several updates to its credit cards. In May 2025, the bank announced a mix of both positive and negative changes, effective from June 20th, with additional revisions coming into force from October. Notably, cards like Flipkart Axis and Magnus for Burgundy have faced benefit reductions, while others such as the Select and Privilege Credit Cards have received improved rewards. This article consolidates all these updates, giving you a clear understanding of what to expect if you hold any of these cards.

Update on NEO Credit Card Zomato Offer (Effective July 1, 2025)

Axis Bank has revised the Zomato offer on the NEO Credit Card with the following key changes:

• The minimum order value to avail the offer will increase from INR 200 to INR 499.
• Cardholders will get a flat INR 120 off on Zomato orders above INR 499, twice per month, using the coupon code ‘AXISNEO’.
• Payments made via UPI linked to the NEO RuPay Credit Card are not eligible for this offer.

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MYZONE Credit Card Sony LIV Subscription Ends, New Annual Spend Reward Introduced (Effective April 1, 2026)

Effective April 1, 2026:

• The renewal of the Sony LIV subscription on spending ₹1,50,000 in a card anniversary year will be discontinued.
• Instead, you will earn 1000 EDGE REWARD Points after reaching an annual spend of INR 1.5 lakhs in your card anniversary year.
• Spends will be reviewed 60 days after your anniversary date to exclude any reversals or cancellations.
• Eligible points will be credited automatically.
• Note: Spend on categories like Movies, Fuel, Insurance, Utility, Rent, Wallet, Jewelry, Education, and Government institutions will not count towards this calculation.

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Flipkart Axis Bank Credit Card Cashback Boost and Lounge Access Discontinued from June 2025

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Increased Cashback on Myntra

Cashback on Myntra purchases has increased significantly from 1% to 7.5%, capped at ₹4000 per statement quarter.

Cashback Caps on Flipkart and Cleartrip

The card continues to offer 5% cashback on Flipkart and Cleartrip spends. However, cashback earnings are capped at ₹4000 per statement quarter for each merchant. For example, if your statement date is the 15th of every month, your statement quarters will be calculated as follows:

• 1st Quarter: 16th March – 15th June
• 2nd Quarter: 16th June – 15th September
• 3rd Quarter: 16th September – 15th December
• 4th Quarter: 16th December – 15th March

Cashback earned during each statement month will be credited roughly three days before the next statement generation date.

Example of Cashback Calculation

For the quarter March to June, here is an illustrative cashback earning:

• Flipkart spend of ₹20,000 in March-April earns ₹1000 cashback (5%)
• Cleartrip spends up to ₹90,000 in April-May earn ₹4000 cashback (max limit)
• Myntra spend of ₹3,000 earns ₹225 cashback (7.5%)

Discontinuation of Airport Lounge Access

From June 20, 2025, the Flipkart Axis Bank Credit Card will no longer offer 4 complimentary domestic airport lounge visits.

Privilege Credit Card Updates: New Movie Offer from June 2025

Get a 100% discount on your second movie ticket booked via the District app – up to ₹250 off, once per month. This offer applies when you purchase at least two tickets.

Select Credit Card Updates: New Movie Ticket Offer, Big Basket Discount from June 2025

BOGO Movie Ticket Offer

Select cardholders get a ‘Buy-one-get-one’ offer on movie tickets booked via the District app. Get 100% off the second ticket – up to ₹250 off – twice per month, on a minimum purchase of two tickets.

Big Basket Offer: ₹500 Off

Get a flat ₹500 discount on a minimum Big Basket transaction of ₹2,500. This offer is valid once per month per user and applies only to payments made with the Select Credit Card. Use the voucher code AXISSELECTCC during checkout.

MAGNUS for BURGUNDY Credit Card Rewards & Terms Revision from June 2025

Axis Bank’s MAGNUS for BURGUNDY Credit Card is introducing key updates effective 20th June 2025.

Revised Accelerated EDGE REWARD Points Structure

• Earn 12 EDGE REWARD Points per ₹200 spent on eligible purchases up to ₹1.5 lakh per calendar month.
• For spends above ₹1.5 lakh up to your credit limit + an additional ₹1.5 lakh per month, you’ll earn an accelerated rate of 35 EDGE REWARD Points per ₹200.
• Beyond this limit, the earning rate reverts to 12 points per ₹200 spent.

Example:
If your credit limit is ₹5 lakhs and you spend ₹8 lakhs in a month:

• First ₹1.5 lakh → 12 points/₹200 = 9,000 points
• Next ₹5 lakhs (credit limit + 1.5 lakh) → 35 points/₹200 = 87,500 points
• Remaining ₹1.5 lakh → 12 points/₹200 = 9,000 points

Update on RESERVE Credit Card Terms and Conditions – Effective 20th June 2025

Revised Accelerated EDGE REWARD Points on International Spends

• Earn 2X EDGE REWARD Points, i.e., 30 EDGE REWARD Points per ₹200 on eligible international spends up to your credit limit per calendar month.
• For international spends beyond your credit limit in a month, you will earn 15 EDGE REWARD Points per ₹200.
• Base 15 EDGE REWARD Points per ₹200 will be credited within 7 days of the transaction, and the additional accelerated 15 points per ₹200 will be credited on the 45th day from the end of the calendar month for all eligible international transactions.

Example:
If your credit limit is ₹5 lakhs and you spend ₹6 lakhs internationally plus ₹2 lakhs domestically in a month:

• On ₹2 lakhs domestic spends → 15 points/₹200 = 15,000 points
• On first ₹5 lakhs international spends → 30 points/₹200 = 75,000 points
• On remaining ₹1 lakh international spends → 15 points/₹200 = 7,500 points

Common Changes Across All Credit Cards

Spend Exclusion Simplification for Rewards & Fee Waiver

• Exclusions from earning EDGE REWARD Points and from spend-based fee waiver calculations will be based on spend type (Utility & Telecom, Rent, Wallet, etc.) instead of Merchant Category Codes (MCC).
• Excluded categories include Utility & Telecom, Rent (with monthly caps), Wallet transactions, Government services, Insurance, Gold & Jewellery, Fuel, Cash Advances, and Repayments.

EDGE REWARD Points Forfeiture Policy

• Unredeemed EDGE REWARD Points / EDGE Miles will be forfeited if not redeemed within 30 days of credit card closure.
• Points will also be forfeited if the minimum amount due on the credit card remains unpaid for more than 90 days.
• Cardholders are encouraged to redeem their points promptly and maintain timely payments to avoid losing rewards.