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Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

bugmenot

TF Legend
-- Edited Post --

Final Update

Official PDFs are now out
Magnus - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/mgtc.pdf


Reserve - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/rstc.pdf

Revision of Axis Bank Miles/Rewards Transfer Program - https://www.axisbank.com/docs/defau...les-rewards-transfer-terms-and-conditions.pdf



Update: 2nd August

MyZone - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/mztc.pdf
Privilege - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/pvtc.pdf
Select - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/sltc.pdf
Ace - https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/actc.pdf



Magnus devaluation highlights
  1. Revision in welcome benefits, which are more or less matching with the leaked screenshots
  2. Change in annual fee - ₹12,500 + GST
  3. No more renewal benefit
  4. Spend criteria for fee waiver is now double - 25L
  5. Exclusion of government institutions and utilities MCCs for earning ERs
  6. RIP 25,000ER/1L milestone benefit
  7. Revised transfer ratio of 5:2
  8. 5L ER points cap for transfer
  9. Burgundy account scheme
Reserve devaluation highlights
  1. Spend criteria for fee waiver is revised to 35L
  2. Exclusion of government institutions and utilities MCCs for earning ERs
  3. Revised transfer ratio of 5:2
  4. 5L ER points cap for transfer
  5. Burgundy private account scheme


Aap Chronology Samajiye
  • 📄 Few leaked screenshots of PDF started floating for Magnus and Reserve having potential devaulation
  • 🐦Few folks on Twitter acknowledged the upcoming devaulation by contacting their RMs or insiders from CC department
  • 🎧 Customer Care team were like "Whot Daa Phaak" is going on. They were unaware about these news, some were saying yes and some no
  • 😡 Outrage | Speculation | Twitter Space | Points Transfer Tricks
  • ✋ Then rumour mills started about devaulation being on hold
  • 🔗 Official links of devaulation PDF started popping but "Darling of Cards" was missing
  • 🔌 Axis pulled the plug and links started showing "404 - Not Found" except for unlucky Flipkart card
  • 💣 BOMB - Axis Gift Edge devaulation
  • 📩 Mass credit card cancellation and notice seeking clarification regarding commercial transactions
  • 📉 Official PDF of Magnus and Reserve released
  • 📉 Official PDF of MyZone, Privilege, Select and Ace released


1. Flipkart - https://axisbank.com/docs/default-s...flipkart-credit-card-terms-and-conditions.pdf

Below given links are not opening now as they have been removed. You may check attached PDFs.

2. Reserve - https://axisbank.com/docs/default-s...-reserve-credit-card-terms-and-conditions.pdf
3. Select - https://axisbank.com/docs/default-s...k-select-credit-card-terms-and-conditions.pdf
4. Privilege - https://axisbank.com/docs/default-s...rivilege-credit-card-terms-and-conditions.pdf
5. MyZone - https://www.axisbank.com/docs/defau...-my-zone-credit-card-terms-and-conditions.pdf

By following the format, it is quite easy to create Magnus link, which could be https://axisbank.com/docs/default-source/default-document-library/credit-cards/axis-bank-magnus-credit-card-terms-and-conditions.pdf
 

Attachments

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The PDF says so.. I checked with my RM and he said whenever Iam free he will come home and get it done. No charges as long as you be a proper Brugundy customer basically meeting their Brugundy criteria in a consistent manner. 10 Lacs Savings or 30 lacs NVR or 3 lac Salary deposits
If you get salary based Burgundy, then this isn't a problem anyway, I would say there is no cost to keeping Magnus.
To keep a Burgundy relationship, is 3L take home salary enough on its own or one has to also park 10L on top of that?
 
Is the redemption easy and seats available easily ? Isn't domestic having more expensive redemption ?
seat/redemption is okay, for few sectors price is par with any other.overall i feel vistara can help in saving money from pocket for domestic flight rather than just putting all across in hotels(which is not necessity but luxury)
 
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did he say they will give LTF Magnus to Burgundy customers? @Krishnaraju was saying (I think) that they don't want non-Burgundy customers to have Magnus, paid or otherwise.

But I think even Burgundy customers will have to pay the fee
My Credit Cards RM in Pune has confirmed it will be free for me and to wait till Sep 1st ( I cannot confirm for others 🙂 sorry for giving false hopes in previous posts. But chances are very likely that it will be for every Brugundy customer and we just need to wait till Sep 1st).
If its free its excellent if not free dekha jayega. As for me I am keeping the card in either case as it suits my spend pattern.

Someone in another post mentioned if it is 3 Lakhs Salary deposits and 10 Lakhs for Burgundy then the answer is no. Its any one of the conditions to be met and its in their bank website. If a local branch at your place denies show them their website😊
 
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Let me try then .
They mentioned that the salary coming into account is RTGS and not Salary . Hence , it cant be put in Burgundy Salary . But since there is 5 L + account maintained for the past few months , they can upgrade it into normal Burgundy where you have to maintain 5 L at family id which seems reasonable . I am thinking of doing it now .
 
That’s much like Select.

Wonder what they’ll do with Select.?

Two LTFs till you are Burgundy is being too greedy 🙂
My RM told that getting Magnus free for Burgandy will be one time limited period offer. This will also include 5:4 conversion. This will be a short period only like 1 month or so. They will switch back to free Select card after the offer period expires.
 
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