Axis Bank Devalues GyFTR Rewards – What You Need to Know

Credit Card Axis Bank Credit Card
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Axis Bank has made a major change to its GyFTR reward structure, and it’s not good news for regular users. Here’s what’s new:

  • No more 2x / 3x / 5x earning rates on GyFTR. The previous accelerated rewards structure is now replaced with GyFTR coins.

  • Drastic reduction in reward rate: For example, Amazon and Flipkart gift vouchers, which used to offer 2x earning rate (9.6% for Magnus cardholders), now only give 0.5% and 1.5% respectively.

  • 1 GyFTR Coin = ₹1: These coins can be redeemed on your next purchase, but the overall reward rate has dropped significantly.

This is a major setback for regular Axis GyFTR users who previously benefited from higher reward rates.