Devaluation Axis Reserve Credit Card Brutal Devaluation Effective From 20th April 2024

[TechnoFinoTechnoFino is verified member.]

Axis Band has announced devaluation of their almost all credit cards, but they just destroyed their top most flagship credit card Axis Reserve Credit Card.

Here are the changes:

Revision of EDGE REWARD Points, Miles transfer:

In addition to the existing list of category exclusions, spends done on Insurance, Wallet, Gold & Fuel MCC will not be eligible for EDGE REWARD Points.
Current excluded categories are:
Government, Utilities

All existing Miles transfer partners will be divided in two groups (Group A & Group B). For redemption through Miles Transfer Program, the customer will be able to transfer maximum of 1 lakh EDGE REWARD Points cumulatively to Group A partners and maximum of 4 lakh EDGE REWARD Points cumulatively to Group B partners. For the current calendar year, this capping will be applicable from 20th Apr’24 to 31st Dec’24. From next calendar year onwards, capping will be applicable from 1st Jan’25 to 31st Dec’25.



Revision Of Annual Benefit:
Annual benefit of 50,000 EDGE Reward Points will be discontinued.

Annual Fees Reversal:
In addition to the existing list of category exclusions, spends threshold for annual fee waiver will exclude spends done on Insurance, Gold & Fuel.
Current Exclusions: Goverment Payment, Wallet, EMI, Utility

Removal Of Airport Transfer Service:
Airport transfer service will be discontinued from 20th April, 2024

Axis Bank just killed its topmost credit card. I mean, you are charging Rs. 50,000 + GST from Reserve credit card holders as annual fees, and in return, card members are not earning reward points on essential categories like insurance, utility, government payments, etc. This card was known for its unique airport transfer benefit, but Axis decided to remove the benefit from Reserve. And there are lots of cappings on earning rewards as well as on reward redemption. Axis also removed the annual bonus of 50,000 Edge points.
Instead of fixing loopholes, this bank just removes the associated benefits from the card. What an amazing idea.
Anyways, this Axis Reserve credit card will be totally finished after 20th April. I will not even pay 5000 rupees for this card. I don’t know why, but Axis Bank is behaving weirdly. They are making their products too complicated. Axis Reserve was one of the best cards a few months ago, but after all this devaluation, it's not even worth Rs. 10,000.

 

[narun2001]

I think Magnus for Burgundy might still make sense if spends are above 25L and redeemed exclusively in Accor. The devaluation in Reserve is absolutely bizarre! People keep saying that the clients whom these cards are targeted for like the lifestyle benefits, but, they seem to have removed that as well here! Absolutely no point holding one.

 

[iNokia]

Axis Band has announced devaluation of their almost all credit cards, but they just destroyed their top most flagship credit card Axis Reserve Credit Card.

Here are the changes:

Revision of EDGE REWARD Points, Miles transfer:

In addition to the existing list of category exclusions, spends done on Insurance, Wallet, Gold & Fuel MCC will not be eligible for EDGE REWARD Points.
Current excluded categories are:
Government, Utilities

All existing Miles transfer partners will be divided in two groups (Group A & Group B). For redemption through Miles Transfer Program, the customer will be able to transfer maximum of 1 lakh EDGE REWARD Points cumulatively to Group A partners and maximum of 4 lakh EDGE REWARD Points cumulatively to Group B partners. For the current calendar year, this capping will be applicable from 20th Apr’24 to 31st Dec’24. From next calendar year onwards, capping will be applicable from 1st Jan’25 to 31st Dec’25.

View attachment 46714

Revision Of Annual Benefit:
Annual benefit of 50,000 EDGE Reward Points will be discontinued.

Annual Fees Reversal:
In addition to the existing list of category exclusions, spends threshold for annual fee waiver will exclude spends done on Insurance, Gold & Fuel.
Current Exclusions: Goverment Payment, Wallet, EMI, Utility

Removal Of Airport Transfer Service:
Airport transfer service will be discontinued from 20th April, 2024

Axis Bank just killed its topmost credit card. I mean, you are charging Rs. 50,000 + GST from Reserve credit card holders as annual fees, and in return, card members are not earning reward points on essential categories like insurance, utility, government payments, etc. This card was known for its unique airport transfer benefit, but Axis decided to remove the benefit from Reserve. And there are lots of cappings on earning rewards as well as on reward redemption. Axis also removed the annual bonus of 50,000 Edge points.
Instead of fixing loopholes, this bank just removes the associated benefits from the card. What an amazing idea.
Anyways, this Axis Reserve credit card will be totally finished after 20th April. I will not even pay 5000 rupees for this card. I don’t know why, but Axis Bank is behaving weirdly. They are making their products too complicated. Axis Reserve was one of the best cards a few months ago, but after all this devaluation, it's not even worth Rs. 10,000.

Pehli baar tf sahab ko itne gusse mein dekha hai

 

[moneyMaker]

Axis flipkart bhi close karna hai?

 

[Deleted member 9785]

I think Magnus for Burgundy might still make sense if spends are above 25L and redeemed exclusively in Accor. The devaluation in Reserve is absolutely bizarre! People keep saying that the clients whom these cards are targeted for like the lifestyle benefits, but, they seem to have removed that as well here! Absolutely no point holding one.

poor people are travelling in mercedez because of axis

 

[Swastik]

Reserve was an Aspirational thing for me ,that and Amex Plat Charge,

But now that Axis is on a warpath against it's own customers ,I'm going to sever all ties with them and forget about it

 

[Swastik]

 

[Swastik]

poor people are travelling in mercedez because of axis

Where are this poor people paying 50k+GST on a Credit Card ,i know I'm not one of them

 

[Swastik]

Meanwhile I am who dont having magnus , thinking that :



Magnus ka fees 12500+ gst axis ni maa ch###ne ke lenge kya axis wale ??

Nobody in thier right mind would pay that anymore ,

RIP Magnus ,we had fun while it lasted ,but all good things must come to an end i guess
You were like dream ,too good to be true

 

[anirao07]

poor people are travelling in mercedez because of axis

I mean you do have the VIP Lounge badge, which means you either hold or used to hold the card(s) required for the entry in the same group, and after paying 5000+ GST for the card with the lowest fees to around 3 lakhs for the top most card, I don't know which one you have, I don't think you would call yourself poor now would you? ( and Reserve is one of them)
So, what exactly is the point of this post is still kind of unfounded.

 

[anirao07]

Meanwhile I am who dont having magnus , thinking that :



Magnus ka fees 12500+ gst axis ni maa ch###ne ke lenge kya axis wale ??

Well the thing is I have Magnus,
But well even after the first round of devaluation it was still a decent card for me because of the soft benefits it used to offer,
The BMS BOGO, the Airport M & G, Unconditional Unlimited Domestic and International Lounge Access, 35 Reward Points after crossing the 1.5 LKH threshold (which I did achieved for 4 Months out 6), and well even though I don't have Burgundy, I was going to open it this FY and thank God I Did'nt.
I mean this card is pretty much dead now and now there is no saving Axis Bank CC Business anymore.
But now think it can be even called a Paper Weight, because it is among the Lighter Metal Cards out there (IYK,YK) so yeah this Card is actually gone.
Well, I do have this card waived off for this year, but I am seriously considering he open Credit Account in my Credit Report and considering closing this.
So yeah if someone found value in this card after the first devaluation ( which I used to be that Someone), i don't think he/she would now still think the same.

 

[HumorSimpson]

 

[chnsrao123]

I have raised closure request for Flipkart axis credit card

 

[Itachi_UchihaItachi_Uchiha is verified member.]

Just cancelled my request for Magnus. Axis has become a brand not to be trusted.

 

[rogerthat]

Well the thing is I have Magnus,
But well even after the first round of devaluation it was still a decent card for me because of the soft benefits it used to offer,
The BMS BOGO, the Airport M & G, Unconditional Unlimited Domestic and International Lounge Access, 35 Reward Points after crossing the 1.5 LKH threshold (which I did achieved for 4 Months out 6), and well even though I don't have Burgundy, I was going to open it this FY and thank God I Did'nt.
I mean this card is pretty much dead now and now there is no saving Axis Bank CC Business anymore.
But now think it can be even called a Paper Weight, because it is among the Lighter Metal Cards out there (IYK,YK) so yeah this Card is actually gone.
Well, I do have this card waived off for this year, but I am seriously considering he open Credit Account in my Credit Report and considering closing this.
So yeah if someone found value in this card after the first devaluation ( which I used to be that Someone), i don't think he/she would now still think the same.

I get you. I was one of those guys who found value in Magnus even after the first round of devaluation especially because of BOGO, lounge, Gift Edge and Eazydiner. I even achieved the ERP threshold for one month and was thinking of paying the fees and continuing the card for another year because Eazydiner + five-six movies (we watch a lot of movies) would pay for the fees. But now it is seriously just a pseudo-metal bookmark. I don't understand why Axis really, really hates its premium customers who are ready to spend money on them. If I had given all this business to HDFC over the past year I could've easily had a FYF Infinia Metal by now. I am going to ask Axis for fee waiver. If they don't, bye-bye Magnus.

I am especially sad for the BOGO. There isn't another card in the market that gave such movie benefits.

 

[anirao07]

I get you. I was one of those guys who found value in Magnus even after the first round of devaluation especially because of BOGO, lounge, Gift Edge and Eazydiner. I even achieved the ERP threshold for one month and was thinking of paying the fees and continuing the card for another year because Eazydiner + five-six movies (we watch a lot of movies) would pay for the fees. But now it is seriously just a pseudo-metal bookmark. I don't understand why Axis really, really hates its premium customers who are ready to spend money on them. If I had given all this business to HDFC over the past year I could've easily had a FYF Infinia Metal by now. I am going to ask Axis for fee waiver. If they don't, bye-bye Magnus.

I am especially sad for the BOGO. There isn't another card in the market that gave such movie benefits.

Ohh yeah I totally forgot the Eazydiner Prime membership and the monthly Discounts, heck I used it just a few days ago.
Although I do have ICICI Emeralde for the BMS BOGO and it gives a higher discount of 750 but that is 4X and for smaller amount Sapphiro has me covered,
But yeah maybe just have it converted to LTF so that I can use on some axis bank discounts tie up or just downgrade it to any free card.
And yes one more thing, the Fuel RP was my fav. card because it can be used directly when the fast tag failed but now that's also gone.

 

[VISION]

till yesterday i was bombard(minimum of 10-15 calls) from axis to take pre approved card. not even a single call today.!

 

[HumorSimpson]

till yesterday i was bombard(minimum of 10-15 calls) from axis to take pre approved card. not even a single call today.!

Their CS might be bombarded with CC close calls.