Axis Bank Credit Card Devaluation
Axis Bank has quietly updated its credit card rewards program, and if you use Axis cards for travel, this is something you shouldn’t miss.
Without any formal announcement, the bank has changed its miles transfer partners and conversion ratios, directly impacting the value of your reward points. For users relying on travel credit cards, airline miles, and hotel loyalty programs, this is a meaningful shift.
These changes may look small at first glance, but they significantly affect how much value you can get from your points. Here’s a clear breakdown.
What Exactly Changed?
Axis Bank has made two key updates:
Removed some of the most valuable transfer partners
Reduced transfer ratios for newly added partners
Together, these changes reduce the overall value of Axis Bank reward points, especially for travel redemptions.
Key Transfer Partners Removed
Axis Bank has removed three major partners:
Accor Live Limitless
Marriott Bonvoy
Qatar Privilege Club
For many users in India, Accor was one of the best hotel loyalty programs because it offered a fixed value of ₹2.2 per point. This made it easy to plan hotel redemptions without worrying about fluctuating pricing. With its removal, hotel redemptions become less predictable and often less rewarding.
New Transfer Partners Added
Axis has added new partners across airline and hotel programs:
Group A: Finnair Plus, British Airways Club, Lotusmiles (Vietnam Airlines)
Group B: Radisson Rewards, Orchid Rewards
While adding partners usually improves flexibility, the conversion value for these new partners is lower.
Transfer Ratio Changes Explained
Here’s how the transfer ratios have changed across major Axis Bank credit cards:
Card | Old Ratio | New Ratio (New Group A partners) | New Ratio (New Group B partners) | Old Partners |
Magnus Burgundy | 5:4 | 5:2 | 5:4 | No change (5:4) |
Reserve & Magnus | 5:2 | 5:1 | 5:2 | No change (5:2) |
Atlas | 1:2 | 2:1 | 1:1 | No change (1:2) |
Horizon | 1:1 | 2:1 | 1:1 | No change (1:1) |
Olympus | 1:4 | 1:2 | 1:4 | No change (1:4) |
So while nothing changes for older partners, the newly added ones offer lower redemption value.
Impact on Axis Bank Credit Card Users in India
For users holding cards like Axis Magnus Burgundy, Reserve, Atlas, Horizon, or Olympus, this changes how you should approach rewards.
Hotel redemptions are weaker due to Accor removal
New partners offer lower value per point
Overall reward efficiency has reduced
These cards are still usable, but they are no longer as rewarding as they were earlier.
Best Transfer Options Going Forward
You can still get good value by choosing the right partners.
Group A: Aeroplan, Japan Airlines (JAL), Singapore Airlines KrisFlyer
Group B: Flying Blue, Air India, ITC Hotels, IHG One Rewards
These partners continue to offer relatively better redemption value compared to the newly added ones.
Should You Still Use Axis Bank Credit Cards for Travel?
This depends on your usage.
If your primary goal was:
Hotel stays via Accor
Maximizing reward value through transfers
Then this change is significant.
You can consider alternatives like:
HSBC TravelOne Credit Card
HSBC Premier Credit Card
HDFC Regalia Gold Credit Card
Other Credit Cards are Also Undergoing Major Devaluations and Changes
The first four months of 2026 have seen many credit cards undergoing devaluations and upgrades.
Here is the full list:
If you wish to keep yourself always updated with the latest happening in the world of credit cards then you should follow SaveSage Blogs.
If you are struggling to manage credit card rewards and loyalty programs, then here is the solution for you. The SaveSage app. It is a well designed credit card app that helps you keep everything simple by bringing your cards, points, and offers, along with helpful AI support and regular updates.
