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

[bugmenot]

-- 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

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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

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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

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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

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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

 

[bhaskar_js]

I raised a query via mail to Axis customer service today. I got a call back after a few hours. I was told that if I open a Burgundy account now, my existing Magnus card will be converted to a LTF card (Lifetime meaning till I maintain the Burgundy relationship). There will be no new card issue and existing card will only be converted. Regarding reward points he said the redemption ratio will be 5:2 only and not 5:4. When I pointed out to the earlier communication regarding 5:4 conversion and the details available in Axis website, he said that he will confirm regarding the redemption ratio and will reply via mail. But the LTF part is confirmed for Burgundy account holders.

 

[drsel]

You are the second person saying that Axis changed its policy and is sticking to 5:2 ratio even for old/new Burgundy account holders.

Obviously this is wrong information you received, because now some received the email about 5:4 conversion

Also, both a Burgundy debit card and Select credit card will be given lifetime free to Burgundy customers

 

[bhaskar_js]

You are the second person saying that Axis changed its policy and is sticking to 5:2 ratio even for old/new Burgundy account holders.

So obviously, then there will not be any need to issue a new card
The old Magnus will remain in use forever but the only advantage of giving them 10 lakhs will be to save the 14750 annual fees, which is not worth it

Yes, it does not make any sense. Keeping 10 lakh in an Axis FD account itself instead of savings for a year will generate an additional Rs 38702 at current FD and Savings interest rates. After paying 14750 annual fee for Magnus, I will still have close to Rs 24000 to spare. Opening a Burgundy and parking Rs 10 lakh only made sense for 5:4 redemption, else its a waste

 

[rogerthat]

And the tables turn... again! Axis has now made more U turns than an average Bangalore auto driver.

 

[vikramsrit]

I think this is a case of poor communication and shitty training to the CC folks. I still think 5:4 for Burgundy would continue. Otherwise it'd be a disaster for Axis. Not because of the Reward Structure, but because of the lost trust.
My Infinia got approved last week, so aal ij well.

 

[Deleted member 11974]

I think this is a case of poor communication and shitty training to the CC folks. I still think 5:4 for Burgundy would continue. Otherwise it'd be a disaster for Axis. Not because of the Reward Structure, but because of the lost trust.
My Infinia got approved last week, so aal ij well.

they have mentioned on the website that travel partners ratio is at 5:2

 

[deepcards]

mast bana raha hai Axis!

 

[SM24]

Not a squeak from anyone higher up at Axis, amidst all this brouhaha.

Maybe they think Brand Equity is just a supplement of ET, without a need to be complemented by timely communication.

Man...so much contempt for 'premium' customers and ownership.

Pathetic.

PS: My branch manager himself is clueless about so many things. Until fresh official communication arrives, whenever it does, I wouldnt trust CCs/RMs.
I believe they will NOT go back on 5:4.

 

[drsel]

I think this is a case of poor communication and shitty training to the CC folks. I still think 5:4 for Burgundy would continue. Otherwise it'd be a disaster for Axis. Not because of the Reward Structure, but because of the lost trust.
My Infinia got approved last week, so aal ij well.

Burgundy Magnus 5:4 beats Infinia

 

[UKJ]

Just spoke to my CC guy. He confirms that the 5:4 conversion is 100% happening. Says that the rollout is a little delayed and communication should come either this week or latest next week. Let's see.

 

[drsel]

Just spoke to my CC guy. He confirms that the 5:4 conversion is 100% happening. Says that the rollout is a little delayed and communication should come either this week or latest next week. Let's see.

Ask him about the conversion ratio of other cards in the portfolio of--
a) Those who have old Magnus?
b) Those who have new Burgundy Magnus?

 

[Deleted member 11974]

Ask him about the conversion ratio of other cards in the portfolio of--
a) Those who have old Magnus?
b) Those who have new Burgundy Magnus?

the website as of now mentioned 5:2 ratio for travel partners
so i dont think burgudy would have any seperate benefit
just that some travel partners might be kept at 5:4

 

[drsel]

Magnus Burgundy beats Infinia, as per my calculations --
1) Flights
Magnus Burgundy 19.35 % discount on Traveledge (including the use of 100% points transferred to Accor hotels)
Infinia 14.5% discount on Smartbuy (including 2nd flight transaction paid with 70% points & 30% card)

2) Hotels
I get 35% discount using Kotak, so no Magnus Burgundy nor Infinia

3) Non travel
Magnus Burgundy 4.8% return
Infinia 3.3% return

 

[Deleted member 11974]

Magnus Burgundy beats Infinia, as per my calculations --
1) Flights
Magnus Burgundy 19.35 % discount on Traveledge (including 2nd transaction using 100% points earned for Accor hotels)
Infinia 14.5% discount on Smartbuy (including second transaction paid with 70% points & 30% card)
2) Hotels I get 35% discount using Kotak
3) Non travel
Magnus Burgundy 4.8%
Infinia 3.3% return

aree bhai lekin 4.8 % to confirm hai hi nahi abhi tak
tum kaunsa khayali pulao paka rahe ho
aur tumhara monthly spends kitna travel edge ya smart buy pe hoga
talk in terms of sustainable spends
base rewards ke hisab se calculate karke batao
magnus at 5:2 and infinia ka transfer rate jo hai uske hisab se

 

[UKJ]

Ask him about the conversion ratio of other cards in the portfolio of--
a) Those who have old Magnus?
b) Those who have new Burgundy Magnus?

According to him Burgundy accounts will be provided a new Magnus LTF. Those without Burgundy will have the option to continue with their existing Magnus.

 

[Viper1057]

Official pdf - https://www.axisbank.com/docs/defau...cards/magnus-credit-card-for-burgundy-faq.pdf

Source - https://www.axisbank.com/retail/cards/credit-card/axis-bank-magnus-card/feature-benefits (In more benefits look for know more bottom part)

5:4 is official for burgundy customers

November 30 is last date to avail the offer.

Anyone thought what will happen about the 25K milestone of August? Will it be available to be redeemed for 5:4 or not?

14 page pdf but they didn't clearly mentioned what will happen about not credited yet earned edge points(like 5x gyftr, Aug milestone or grabdeals).
There can be 2 scenerio's for this:
1. If you did upgrade/convert to Burgundy Magnus, all the current existing points will be transferred to 5:4 bucket and let's say you recieve August milestone tomorrow then it will be treated as 5:2 or normal edge reward points.
2. Even after upgrading, it will still be credited to 5:4 Burgundy Magnus points.

After seeing so much Axis fiasco & way of doing things, I highly expect its the 1st point. Though this case or anything related to it is not clearly explained in PDF.

Because of this, I will wait till mid November to upgrade my account after receiving milestone & my Samsung infinite points 😈

 

[mojo_jojo123]

gali gali mai chor hai .. Ax - shit .. bank chor hai ..

 

[Thomas244]

November 30 last date

 

[aashish2137]

View attachment 30655
How much is 20 x edge points while using Burgundy debit card?
Is this Burgundy account to which we are all upgrading, called a Burgundy digital savings account?

Any clarity on this? Do you have the link to this offer?

 

[Thomas244]

upgrade to burgundy now. Then wait till november end to shift to burgundy with magnus. Once maximum points given.