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

 

[mastfun]

I thought we both are fighting for 10L AQB 🙂 😀

 

[K.R]

I thought we both are fighting for 10L AQB 🙂 😀

Iam fighting for both AQB along with you and TRV along with Srihari 😀😀😀
My AQB for last 3 months is also above 15 lacs and TRV for October is above 30 lacs

 

[mastfun]

Iam fighting for both AQB along with you and TRV along with Srihari 😀😀😀
My AQB for last 3 months is also above 15 lacs and TRV for October is above 30 lacs

When you already have more than 10L , no point in fighting for AQB 😉

 

[K.R]

When you already have more than 10L , no point in fighting for AQB 😉

Sir Between you and Srihari who ever wins I will also win 🤣. Best result would be both you and Srihari should win

 

[K.R]

Just FYI..Srihari has 10 lacs AQB for more than 3 months now and he has been maintaining a TRV of above 30 lacs since 28th Sep. But his card is not upgraded ( just digged into my conversation with Srihari a month back)

 

[mastfun]

By the way I am enjoying my Capital One card 😎





They provide access to 2 guests free for both primary and add on card holders 🙂

 

[mastfun]

Just FYI..Srihari has 10 lacs AQB for more than 3 months now and he has been maintaining a TRV of above 30 lacs since 28th Sep. But his card is not upgraded ( just digged into my conversation with Srihari a month back)

All the best to both of us 😊

 

[K.R]

I have Infinia as a backup so no stress but cannot accept this nonsense of Axis. 🤣

 

[mastfun]

I have Infinia as a backup so no stress but cannot accept this nonsense of Axis. 🤣

True ... My RM forced me to create a RD of 20K to achieve his goals , week after I opened my account 🙃

I will shift my focus on getting Infinia if Axis fail me 😉

 

[K.R]

All the best to both of us 😊

Worst case we will get non LTF . Its a different matter whether we would like to continue or not

 

[K.R]

True ... My RM forced me to create a RD of 20K to achieve his goals , week after I opened my account 🙃

You can close it with small loss..doesnt make sense..wait till this month end and close it. And tell him you closed it because he was total useless..had he got the card for you you were actually planning to make it 1 Lakhs recurring deposit 😀 as a Diwali surprise to him

 

[unwind]

There was one in this group who got with TRV of 3 days 😎

You are talking about me I am assuming 😏

Incidentally my friend, with the same RM, same account opening date, 30 L TRV creation on the same date etc has yet to be upgraded even after constant follow ups now. Actually now our accounts have deviated in the sense that I am just maintaining 10L Balance post my upgrade and he maintained 30L TRV through out October. The reason given is, for some reason his One glance statement can't be generated and hence he can't be upgraded. And they have no idea why the one glance statement can't be generated. He can not even download from consolidated statement link.

Just shows that their systems are totally effed. You can't be sure of anything with Axis

 

[K.R]

Anyone getting Credit limit enhancement in the Cards - offer section ? I learnt several are getting with double or triple the existing limits as festive offer .

Iam gettung Upgrade offer to IOCL card 🙂

 

[SM24]

Iam gettung Upgrade offer to IOCL card 🙂

View attachment 34603

This is the fuel you need (to generate more unrest for Axis 😉

 

[Prav]

Nice... I have the same balance for Oct but still not eligible.

Try with branch people they ll get approved fast

 

[Prav]

G

Great . Was it an upgrade or new LTF card ? Any strategy or tricks used 😂

New card (got 7l limit ) deputy branch manager helped alot by talking approvals
Like customer wants to do diwali shopping with card

 

[Prav]

Congratulations! That's the fastest based on TRV.
New card or Upgrade?

New card new account

 

[Prav]

Ye

but this seems like a new card and not upgrade ?

Yes new card , account was opened 30 days ago digitally

 

[MilesMax]

There was one in this group who got with TRV of 3 days 😎

He definitely should have relations with Amitabh Chaudhary for that to happen! 😄

 

[golu]

Got m4b card with in30 days of account opening
30L average balance in savings in oct
Without any income proof/ c2c /itr
Existing ace card limit was 18k😂

You got m4b card Without waiting for 45 days
Strange 🤔