Axis Bank, which previously offered occasional merchant deals during festive seasons, has shifted to more aggressive promotions since 2020, aligning with other major card issuers. This Diwali the bank is running an attractive set of merchant offers and a separate 10X rewards promotion on gift cards, and it has also launched a competitive spend-linked offer that applies to several premium credit cards.
Below are the full details of the 3X rewards offer and what cardholders should know to make the most of it.
Offer Details
| Card Variant | Regular Earn Rate | 3X Earn Rate | Return on spend |
|---|---|---|---|
| Burgundy Private Credit Card | 15 RP’s / Rs.200 | 45 RP’s / Rs.200 | 4.5% |
| Reserve Credit Card | 15 RP’s / Rs.200 | 45 RP’s / Rs.200 | 4.5% |
| Magnus Credit Card | 12 RP’s / Rs.200 | 36 RP’s / Rs.200 | 3.6% |
- Offer: 3X rewards on eligible spends
- Offer period: 5th Nov 2020 to 5th Jan 2021
- Excluded spends: Utility bill payments, insurance payments and merchants already covered under the 10X EDGE points promotion
- Maximum cap: 100,000 points per calendar month
- How to enrol: Send an SMS with the text FESTIVE to 56161600 or 8691000002
- Enrolment period: 5th Nov 2020 to 25th Nov 2020
- Fulfilment: Bonus points credited within 60 days from the campaign end date
The incremental return on spend from this promotion is comparable to other high-value festive card offers. Unlike some targeted promotions, this one is applied by card type, so eligible cardholders can enrol even if they did not receive direct communication via SMS or email.
To fully utilise the cap, you would need to spend approximately Rs. 444,000 monthly on the Reserve or Burgundy Private cards, or about Rs. 555,000 monthly on the Magnus card, to reach the bonus-point cap. That level of spending could yield up to around 300,000 reward points each month; actual numbers may vary depending on whether the issuer treats the cap as applying only to bonus points.
Bottomline
It is positive to see Axis Bank stepping up its festive rewards offerings. This move brings its premium cards more in line with competitive market promotions and gives affluent cardholders a meaningful way to boost rewards over the campaign period.
The program would be stronger if it included some of Axis Bank’s less premium cards—such as Axis Select or Axis Privilege—with adjusted caps, but that may come in future iterations. For now, the 3X rewards deliver solid value on the specified cards, and Axis EDGE points remain valuable thanks to flexible redemption options.
What do you think about the 3X rewards on Axis Bank’s premium credit cards? Share your thoughts in the comments.