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

---

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

 

[palvannan]

I'm in the same situation. Like you, I'm combining things quarterly. I've noticed in this forum that many people have been waiting for the M4B upgrade for months without meeting the salary criteria, but they claim they qualified for accelerated rewards in the last two months. I just want to know their secret 🙂 🙂

People may have salary account with other banks ( and spouse may also be earning well) but would have applied for Burgundy Magnus only on the basis of AQB or fixed deposits as TRV . One trick to legitimately exceed 1.5 lakhs spends in a month is to fully use Rental amount of 50k per month ( through RedGiraffe/payzapp ) and pay insurance amount every month ( say around 50 to 60k ) and also include some educational expenses on the credit card and then all your other regular purchases will manage to get some AEPs, at least once or twice a quarter. Burgundy Magnus is of not much use ( other than Travel edge/Gyftr) , if you don't get to spend more than 2 lakhs in a month , every now and then. Like purchasing a Car on credit card !

 

[palvannan]

Anyone knows if spends on old Magnus and new Burgundy Magnus in the same calendar month will be added for accelerated rewards above 1.5 lakhs?
I'm waiting for some Gyftr extra ERs so have not activated my M4B yet - but I'm planning to cross 1.5L in December so wanted to check if I can start December spends on old Magnus and move to M4B after Gyftr credited (maybe by 20th Dec) and still cross 1.5L combined.

But don't delay the activation of new Burgundy Magnus card to the end of 30 day limit and also be aware that the 30 days period ( deadline to activate ) starts from card issuance date and not from the date of receiving the card. Yes the spends on old card and new magnus card will be combined for calculating AEP benefits in a month , but I would suggest that you activate the new Burgundy Magnus card asap, but don't use it for any new spends ( so that BM bucket remains at zero balance) and keep using old card till the old Magnus card gets deactivated automatically at the end of 45 days (after upgrade date) . And transfer all the ER points to mikes partners periodically at 5:4 till then. I have activated new magnus LTF card last week but continue to get 5:4 for points conversion ratio , for normal ER points also that too earned for Burgundy debit cards , bank transfers and old Magnus card spends !

 

[Rags]

People may have salary account with other banks ( and spouse may also be earning well) but would have applied for Burgundy Magnus only on the basis of AQB or fixed deposits as TRV . One trick to legitimately exceed 1.5 lakhs spends in a month is to fully use Rental amount of 50k per month ( through RedGiraffe/payzapp ) and pay insurance amount every month ( say around 50 to 60k ) and also include some educational expenses on the credit card and then all your other regular purchases will manage to get some AEPs, at least once or twice a quarter. Burgundy Magnus is of not much use ( other than Travel edge/Gyftr) , if you don't get to spend more than 2 lakhs in a month , every now and then. Like purchasing a Car on credit card !

The concern is insurance spends are excluded from AEP. I agree getting into AEP once a qtr is possible, but not 2 or 3 months a qtr in normal situation.

 

[SS33]

August GYFTR points added. Its now time to activate 🙂

 

[Rohit1991]

But don't delay the activation of new Burgundy Magnus card to the end of 30 day limit and also be aware that the 30 days period ( deadline to activate ) starts from card issuance date and not from the date of receiving the card. Yes the spends on old card and new magnus card will be combined for calculating AEP benefits in a month , but I would suggest that you activate the new Burgundy Magnus card asap, but don't use it for any new spends ( so that BM bucket remains at zero balance) and keep using old card till the old Magnus card gets deactivated automatically at the end of 45 days (after upgrade date) . And transfer all the ER points to mikes partners periodically at 5:4 till then. I have activated new magnus LTF card last week but continue to get 5:4 for points conversion ratio , for normal ER points also that too earned for Burgundy debit cards , bank transfers and old Magnus card spends !

Hi,
Quick question - the old magnus Burgundy card remains active after activation of MB card? Asking since I don't see the old magnus card in Axis Portal at my end.

 

[mastfun]

I have it writing from them about it

I have written mail that I am eligible for ltf upgrade and even with that I am not getting an update 😐

 

[palvannan]

Hi,
Quick question - the old magnus Burgundy card remains active after activation of MB card? Asking since I don't see the old magnus card in Axis Portal at my end.

Yes the old Magnus card will continue to be active after activating the new magnus card., but u won't see it in the app but the spends will appear under the new card transactions on the app ( as per the usage limits/controls you set before the upgrade ). I am using only the old card for all my online /pos spends and I am hoping to get ER points at 5:4 ( that will be credited after one week of transaction posted date ) for spends done on old card after activating new card on 22nd Nov 😂

 

[Harry1]

August GYFTR points added. Its now time to activate 🙂

Received.

Anyone got August grab deals cashback yet?

 

[palvannan]

The concern is insurance spends are excluded from AEP. I agree getting into AEP once a qtr is possible, but not 2 or 3 months a qtr in normal situation.

Yes I agree that spending a big amount on a single yearly insurance payment ( like 3 or 4 lakhs) is not going to earn any AEP . But you can split the insurance payment to monthly or quarterly, so that you can use the quarterly insurance payment and monthly rentals to build up the monthly eligible spends to cross 1.5 lakhs once in a quarter and also make your other big purchases only in that month so as to cross 2 or even 3 lakhs spends once in a quarter at least.

 

[SteelSh0t]

A totally unrelated question. Looking for opinions.
I am getting AU Zenith + card offer. The card has 5.9k joining and renewal fees but gives 5k voucher, so essentially its fee would be Rs 900. Should I take the card?

I am already holding Magnus which gives BMS buy 1 get 1 & Airport Meet & Greet.
Is it worth paying Rs 900 for the AU Bank card for their bank-specific discount offers?

 

[RupayMan]

A totally unrelated question. Looking for opinions.
I am getting AU Zenith + card offer. The card has 5.9k joining and renewal fees but gives 5k voucher, so essentially its fee would be Rs 900. Should I take the card?

I am already holding Magnus which gives BMS buy 1 get 1 & Airport Meet & Greet.
Is it worth paying Rs 900 for the AU Bank card for their bank-specific discount offers?

Not really, Any AU bank card gives the same bank discount, get LIT card if just need a AU card for bank discount, it's LTF probably. Zenith+ is not best.

 

[palvannan]

A totally unrelated question. Looking for opinions.
I am getting AU Zenith + card offer. The card has 5.9k joining and renewal fees but gives 5k voucher, so essentially its fee would be Rs 900. Should I take the card?

I am already holding Magnus which gives BMS buy 1 get 1 & Airport Meet & Greet.
Is it worth paying Rs 900 for the AU Bank card for their bank-specific discount offers?

This card is having one useful feature , if you are paying high rentals every month , as it doesn't charge transaction fee for first rental payment in a month ( upto some limit i think ). And also it gives reward points and Milestone benefits for rental transaction also ! Though you never know when it will get stopped .

 

[Rohit1991]

Yes the old Magnus card will continue to be active after activating the new magnus card., but u won't see it in the app but the spends will appear under the new card transactions on the app ( as per the usage limits/controls you set before the upgrade ). I am using only the old card for all my online /pos spends and I am hoping to get ER points at 5:4 ( that will be credited after one week of transaction posted date ) for spends done on old card after activating new card on 22nd Nov 😂

I just did a transaction on travel edge on old magnus card. The transaction went through with confirmation email. However, I didn't get any tickets plus the travel edge portal doesn't show the flight booking transanction only. The new MB card doesn't show the transaction as well. But strangely, my credit limit is lower. Not sure what has happened.

 

[palvannan]

I just did a transaction on travel edge on old magnus card. The transaction went through with confirmation email. However, I didn't get any tickets plus the travel edge portal doesn't show the flight booking transanction only. The new MB card doesn't show the transaction as well. But strangely, my credit limit is lower. Not sure what has happened.

The transaction, if it has gone through, will appear under the new card after it is posted to bank in a day or two ( under unbilled transactions) . That the credit limit has lowered means , the transaction went through successfully. Write to TE to get the ticket details using the email confirmation received.

 

[SteelSh0t]

This card is having one useful feature , if you are paying high rentals every month , as it doesn't charge transaction fee for first rental payment in a month ( upto some limit i think ). And also it gives reward points and Milestone benefits for rental transaction also ! Though you never know when it will get stopped .

Interesting. But I dont do rent txns

 

[Rags]

Yes I agree that spending a big amount on a single yearly insurance payment ( like 3 or 4 lakhs) is not going to earn any AEP . But you can split the insurance payment to monthly or quarterly, so that you can use the quarterly insurance payment and monthly rentals to build up the monthly eligible spends to cross 1.5 lakhs once in a quarter and also make your other big purchases only in that month so as to cross 2 or even 3 lakhs spends once in a quarter at least.

I guess even any insurance payment is not eligible for AEP. even if it is 10,000 per month. please find the image attached.

 

[palvannan]

I guess even any insurance payment is not eligible for AEP. even if it is 10,000 per month. please find the image attached.

No it is eligible, if FAQ is to be believed. As per the info in the image , the full insurance payment paid using the M4B card every month gets base ER points ( upto 6000 ER points) . And the entire insurance payment paid ( for one policy) does seem to count towards the eligible spends in a month for calculating AEPs for spends done above 1.5 lakhs. If you look at the worksheet/image from the FAQ, you posted for calculating AEP for various spends , it shows spends of 30k +145k + 110k + 10k ( TE above 2 lakhs) + 150k ( insurance) + 50k ( rentals) have been added up to 4.95 lakhs as eligible spends and AEP calculated for 4.95 lakh - 1.5 lakhs i.e for 3.45 lakhs from the total eligible spends . Though there is a contradiction when they say base ER for insurance is only upto 1 lakhs but AEP considered for full amount of 1.5 lakhs paid !

 

[Virgo]

No it is eligible, if FAQ is to be believed. As per the info in the image , the full insurance payment paid using the M4B card every month gets base ER points ( upto 6000 ER points) . And the entire insurance payment paid ( for one policy) does seem to count towards the eligible spends in a month for calculating AEPs for spends done above 1.5 lakhs. If you look at the worksheet/image from the FAQ, you posted for calculating AEP for various spends , it shows spends of 30k +145k + 110k + 10k ( TE above 2 lakhs) + 150k ( insurance) + 50k ( rentals) have been added up to 4.95 lakhs as eligible spends and AEP calculated for 4.95 lakh - 1.5 lakhs i.e for 3.45 lakhs from the total eligible spends . Though there is a contradiction when they say base ER for insurance is only upto 1 lakhs but AEP considered for full amount of 1.5 lakhs paid !

Any idea of what does insurance for one policy mean? I have 3 separate policies and have insurance premiums payment frequency as monthly. I have received regular base rewards for all 3 premium payments each month since all premiums are less than 1 lakh. But I didn’t receive AEP for Sep and have raised a complaint with customer care.

 

[Rags]

No it is eligible, if FAQ is to be believed. As per the info in the image , the full insurance payment paid using the M4B card every month gets base ER points ( upto 6000 ER points) . And the entire insurance payment paid ( for one policy) does seem to count towards the eligible spends in a month for calculating AEPs for spends done above 1.5 lakhs. If you look at the worksheet/image from the FAQ, you posted for calculating AEP for various spends , it shows spends of 30k +145k + 110k + 10k ( TE above 2 lakhs) + 150k ( insurance) + 50k ( rentals) have been added up to 4.95 lakhs as eligible spends and AEP calculated for 4.95 lakh - 1.5 lakhs i.e for 3.45 lakhs from the total eligible spends . Though there is a contradiction when they say base ER for insurance is only upto 1 lakhs but AEP considered for full amount of 1.5 lakhs paid !

Let me write to them and have the documented one.

 

[Rags]

No it is eligible, if FAQ is to be believed. As per the info in the image , the full insurance payment paid using the M4B card every month gets base ER points ( upto 6000 ER points) . And the entire insurance payment paid ( for one policy) does seem to count towards the eligible spends in a month for calculating AEPs for spends done above 1.5 lakhs. If you look at the worksheet/image from the FAQ, you posted for calculating AEP for various spends , it shows spends of 30k +145k + 110k + 10k ( TE above 2 lakhs) + 150k ( insurance) + 50k ( rentals) have been added up to 4.95 lakhs as eligible spends and AEP calculated for 4.95 lakh - 1.5 lakhs i.e for 3.45 lakhs from the total eligible spends . Though there is a contradiction when they say base ER for insurance is only upto 1 lakhs but AEP considered for full amount of 1.5 lakhs paid !

Can you also share image or document of FAQ page