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

 

[K.R]

Good Afternoon guys !!! Any success for Magnus for Burgundy (New Burgandy account holders) 🙂 in this group as of now.

Iam waiting for my 45 days to be over where in they will not be left with any other excuses. In the meantime, I have been building a strong case against Axis if they deny after 45 days.
3 - Recorded Audios, 2 Email confirmations, 1 in progress Ticket with Backend team and ongoing request with Branch Manager to convert.

 

[mastfun]

Good Afternoon guys !!! Any success for Magnus for Burgundy (New Burgandy account holders) 🙂 in this group as of now.

Iam waiting for my 45 days to be over where in they will not be left with any other excuses. In the meantime, I have been building a strong case against Axis if they deny after 45 days.
3 - Recorded Audios, 2 Email confirmations, 1 in progress Ticket with Backend team and ongoing request with Branch Manager to convert.

I am in the same boat, The Zonal Head contacted my RM and asked him to send out a mail in some format.
My RM asked me to do three things:
1. Asked me to send my Salary Slip ( It's less than 3L net to bank 🙂 I have auto debit enabled to NPS T2 and T1 and ESPP (15% of my salary) so my net to bank is way less than 3L
2. Asked me to open Minor Burgundy (Family account) and set auto transfer of 2000 per month (To keep it active)
3. Asked me to transfer my SIP to Axis (Which I denied)

Let's see !!

 

[MilesMax]

Good Afternoon guys !!! Any success for Magnus for Burgundy (New Burgandy account holders) 🙂 in this group as of now.

The premium experience guy had called me yesterday, he asked me to share the latest OGS and he'll assist after that. I have shared yesterday, they are yet to reply back now.

 

[readers900]

Hi guys, I had a question regarding the updated TnC for magnus.

If my only spend is 3.5 lacs on Travel edge in a calendar month, I know I will get 60ER/200 upto 2 lacs. But for the remaining 1.5 Lacs will I get 35ER/200 or 12ER/200?

As per the Eligible spends formula I will not be getting 35ER/200 on the 1.5 Lacs but as per the revised TnC document it says I will get 35ER/200 above 2 lacs on Travel edge.

 

[SM24]

Good Afternoon guys !!! Any success for Magnus for Burgundy (New Burgandy account holders) 🙂 in this group as of now.

Iam waiting for my 45 days to be over where in they will not be left with any other excuses. In the meantime, I have been building a strong case against Axis if they deny after 45 days.
3 - Recorded Audios, 2 Email confirmations, 1 in progress Ticket with Backend team and ongoing request with Branch Manager to convert.

Customer care yesterday told me I'm not eligible, since I'm not a True Burgundy.
Hehe.

True Burgundy = Someone with TRV of 30L apparently.
This 30L should have been maintained for atleast 45 days.

Checked with my BM again a while back.

Waiting for his revert.

One Glorious Shambolic disaster...

 

[K.R]

Customer care yesterday told me I'm not eligible, since I'm not a True Burgundy.
Hehe.

True Burgundy = Someone with TRV of 30L apparently.
This 30L should have been maintained for atleast 45 days.

Checked with my BM again a while back.

Waiting for his revert.

One Glorious Shambolic disaster...

This is not true. I have 3 recorded messages from Axis and 2 emails where they have accepted that 10 Lacs AQB with 45 days old (minimum) is eligible. You should escalate. Threaten to file a complaint with Ombudsman for misleading customers.

 

[chasni]

This is not true. I have 3 recorded messages from Axis and 2 emails where they have accepted that 10 Lacs AQB with 45 days old (minimum) is eligible. You should escalate. Threaten to file a complaint with Ombudsman for misleading customers.

After reading all the cases here posted on the forum, my hypothesis is that Axis is calculating last 3 months AQB. If anyone satisfies it then they are eligible for the offer. So, someone who got upgrade in Sep, should have maintained above 10 lac in Jun, Jul and Aug.

Moreover, if you opened account in mid July and kept exactly 10 lac till now, you will still not get the offer because the Axis Bank's system always calculates the AQB by dividing it by 90 even though you have been a customer for less than 90 days. This is very evident from AMB in OGS posted by many people here.

This is all just my analysis but I may be wrong given I am not as smart as Axis Bank's CC team.

 

[Rags]

I have a Burgundy salary account since August 31. Tried calling CS, RM, sent emails, but no luck in getting the Burgundy card. Nobody seems to know what to do. Anyone faced this issue and got a resolution?

Yes, same here. Every one is clueless. Sent mail to PnO, branch, cc, RM no use.

 

[Rags]

Customer care yesterday told me I'm not eligible, since I'm not a True Burgundy.
Hehe.

True Burgundy = Someone with TRV of 30L apparently.
This 30L should have been maintained for atleast 45 days.

Checked with my BM again a while back.

Waiting for his revert.

One Glorious Shambolic disaster...

Is TRV required for salary >3lacs cases as well?

 

[shashank08]

I am in the same boat, The Zonal Head contacted my RM and asked him to send out a mail in some format.
My RM asked me to do three things:
1. Asked me to send my Salary Slip ( It's less than 3L net to bank 🙂 I have auto debit enabled to NPS T2 and T1 and ESPP (15% of my salary) so my net to bank is way less than 3L
2. Asked me to open Minor Burgundy (Family account) and set auto transfer of 2000 per month (To keep it active)
3. Asked me to transfer my SIP to Axis (Which I denied)

Let's see !!

SO you have Burgundy salary account with less than 3L salary credit? am I correct?

Please let me know if you are successful in securing LTF Magnus Burgundy.

 

[Rags]

Okies, I met the zonal officer today 🙂 He happened to be from my native!

1. To get Burgundy Magnus: AQB , Salary and TRV all eligible.
2. For accounts opened after August , wait for 45 Days and request one glance statement from RM (Applicable for all AQB,Salary and TRV)
3. The check is every 6 months and the fee will be debited without notice and cannot be reconverted to LTF as it's limited time offer.
4. The Family AQB is not eligible, his suggestion was to put all the money into 1 account id and the rest is anyway 0 balance accounts.

Let me know if u need clarification on any points with respect to Burgundy Magnus in general not account level please.

So a salary burgundy of >3lacs doesn't need TRV 30lacs for Magnus for burgundy?

 

[SM24]

Is TRV required for salary >3lacs cases as well?

No, is what I understand after going through all the messages here.

But you never know with Axis.

Too many inconsistencies and contradictions.

They are just not bothered that a chunk of Burgundys are sick of their stupidity and lack of communication/ clarity.

But premium banking in India is a farce.

So nothing surprising, tbh.

 

[Rags]

No, is what I understand after going through all the messages here.

But you never know with Axis.

Too many inconsistencies and contradictions.

They are just not bothered that a chunk of Burgundys are sick of their stupidity and lack of communication/ clarity.

But premium banking in India is a farce.

So nothing surprising, tbh.

Hmmmmm, I agree. I have spent 4 days this month so far on infinia. Clear loss to axis as well.

 

[rogerthat]

This is for my Select card . They are not giving points for grocery spends . Even though its stated , 2X for for such spends .

5411 is indeed eligible. It is written on the website.

Anyway Axis does these things. Escalate the email to pno@axisbank.com along with the screenshot from the Select page on Axis website. They should resolve it.

 

[mastfun]

Got this message today!

Note: It's not upgraded or confirmed yet 😔 This is the ticket the Zonal Head opened for me! It's just a wait game now!

 

[mastfun]

So a salary burgundy of >3lacs doesn't need TRV 30lacs for Magnus for burgundy?

Yes that's right

 

[K.R]

After reading all the cases here posted on the forum, my hypothesis is that Axis is calculating last 3 months AQB. If anyone satisfies it then they are eligible for the offer. So, someone who got upgrade in Sep, should have maintained above 10 lac in Jun, Jul and Aug.

Moreover, if you opened account in mid July and kept exactly 10 lac till now, you will still not get the offer because the Axis Bank's system always calculates the AQB by dividing it by 90 even though you have been a customer for less than 90 days. This is very evident from AMB in OGS posted by many people here.

This is all just my analysis but I may be wrong given I am not as smart as Axis Bank's CC team.

Partially correct and partially wrong. Their application has been coded for 3 months as you said and that's why the customer care is not able to see the upgrade option. Partially wrong because for new customers with aging of 45 days are also eligible but their system is not coded as per this because of this the customer care is not getting this option. Why should customer be penalized for their application issues. I have raised a ticket to get this fixed. So iam waiting for 45 days and which would be around next Friday. Post that I will ensure that I involve every email id possible and raise a formal complaint with RBI for misleading customers(if they do not live to their promises)
I would rather request all those customers here who have(genuinely) met any ..note any of the 5 criteria's they mentioned and have completed 45 days since becoming Burgundy should start escalating. now.

 

[K.R]

View attachment 31641

Got this message today!

Note: It's not upgraded or confirmed yet 😔 This is the ticket the Zonal Head opened for me! It's just a wait game now!

Congrats. going in right direction 😎

 

[Viper1057]

Partially correct and partially wrong. Their application has been coded for 3 months as you said and that's why the customer care is not able to see the upgrade option. Partially wrong because for new customers with aging of 45 days are also eligible but their system is not coded as per this because of this the customer care is not getting this option. Why should customer be penalized for their application issues. I have raised a ticket to get this fixed. So iam waiting for 45 days and which would be around next Friday. Post that I will ensure that I involve every email id possible and raise a formal complaint with RBI for misleading customers(if they do not live to their promises)
I would rather request all those customers here who have(genuinely) met any ..note any of the 5 criteria's they mentioned and have completed 45 days since becoming Burgundy should start escalating. now.

Count me in, you can include me in complaints that I am facing the same scenario though my first OGS is yet to be generated but better to make noise so that they will take prompt action once my 45days are done in mid November.

 

[Viper1057]

Could be true🥲