Axis Reserve Breaking news - Reserve Devaluation Official (but slightly better than before)

[PiperatGatesofDawn]

https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/rstc.pdf

Official notification just came. Most importantly 5:2 now. And requires a Burgundy Private account to keep 5:4.

 

[DeepSaha]

Any other card which offers unlimited lounges domestic and international? And also offers meet and greet? With similar eligibility criteria?

 

[sidsonn]

When is the devaluation of miles transfer to 5:2 going to begin? The entire document mentions 1st September in all other places (except the miles transfer part) and the previous rumours mentioned 12th August

 

[phildunphy]

They killed Reserve, chopped it up into a barrel, filled it with concrete and dropped it in the bottom of the indian ocean. Magnus didn't get such disrespect.
I'd have gotten reserve just for 5:4 even without the milestone. But now it's beyond gone.

Even magnus got that disrespect, they ask for same joining fees as infinia and give back not even half of benefits or 0.1% of customer support as HDFC

 

[D7162]

When is the devaluation of miles transfer to 5:2 going to begin? The entire document mentions 1st September in all other places (except the miles transfer part) and the previous rumours mentioned 12th August

Answer lies in your question - word Rumours

 

[Deleted member 11974]

So to sum it up
1.No annual fee voucher and increase in joining and annual fee
2. 1L Spends milestone of 25k points removed and change in reward points on monthly spends above 1.5l
3. Increase in annual spending criteria for waiver of annual fees
4. Travel Edge Capping
5.Reward points transfer capping

 

[PiperatGatesofDawn]

So to sum it up
1.No annual fee voucher and increase in joining and annual fee
2. 1L Spends milestone of 25k points removed and change in reward points on monthly spends above 1.5l
3. Increase in annual spending criteria for waiver of annual fees
4. Travel Edge Capping
5.Reward points transfer capping

You missed the main ones!!!!
6. Redemption rate now 2.4% vs. 24.8% (upto 1L) earlier. That's a 80% devaluation!!!!
7. Grabdeals similar 80% or more deval
8. Gyftr 80%++++++++ deval

 

[Gabbar.Singh]

The recent changes in the Axis Magnus Credit Card have reduced its benefits and value proposition.

I am wondering if I should continue using this card. I already have other options, such as the Diners Club Black Credit Card and the IDFC Wealth Credit Card, both of which are lifetime free for me.

 

[Virgo]

They killed Reserve, chopped it up into a barrel, filled it with concrete and dropped it in the bottom of the indian ocean. Magnus didn't get such disrespect.
I'd have gotten reserve just for 5:4 even without the milestone. But now it's beyond gone.

I agree with you. I was trying to evaluate my use case. I have both Reserve and Magnus and I am a Burgundy savings bank holder also.

My average monthly spends are about 3.5L per month (mainly comprising of insurance payments). For the last few months, my strategy was to put 1L spends on Magnus and all spends above that on Reserve. Under the new structure effective 1st Sep, I believe it makes sense to continue only with Magnus. Given my Burgundy status, I can continue to convert my ER to airmiles/hotel points at 5:4. Broadly, the return works out to 9-11% assuming 1 airmiles/hotel points equals Re.1

For enjoying the same conversion ratio on Reserve, I have to upgrade to Burgundy Private which is insane. Even assuming I get 5:4, the best rate one can get is 6% only. I fail to understand what Axis thinks is the USP of Reserve. Completely baffled 😯

 

[phildunphy]

I agree with you. I was trying to evaluate my use case. I have both Reserve and Magnus and I am a Burgundy savings bank holder also.

My average monthly spends are about 3.5L per month (mainly comprising of insurance payments). For the last few months, my strategy was to put 1L spends on Magnus and all spends above that on Reserve. Under the new structure effective 1st Sep, I believe it makes sense to continue only with Magnus. Given my Burgundy status, I can continue to convert my ER to airmiles/hotel points at 5:4. Broadly, the return works out to 9-11% assuming 1 airmiles/hotel points equals Re.1

For enjoying the same conversion ratio on Reserve, I have to upgrade to Burgundy Private which is insane. Even assuming I get 5:4, the best rate one can get is 6% only. I fail to understand what Axis thinks is the USP of Reserve. Completely baffled 😯

Damn what kinda insurance is it that it demands 3L premium?

 

[PiperatGatesofDawn]

I agree with you. I was trying to evaluate my use case. I have both Reserve and Magnus and I am a Burgundy savings bank holder also.

My average monthly spends are about 3.5L per month (mainly comprising of insurance payments). For the last few months, my strategy was to put 1L spends on Magnus and all spends above that on Reserve. Under the new structure effective 1st Sep, I believe it makes sense to continue only with Magnus. Given my Burgundy status, I can continue to convert my ER to airmiles/hotel points at 5:4. Broadly, the return works out to 9-11% assuming 1 airmiles/hotel points equals Re.1

For enjoying the same conversion ratio on Reserve, I have to upgrade to Burgundy Private which is insane. Even assuming I get 5:4, the best rate one can get is 6% only. I fail to understand what Axis thinks is the USP of Reserve. Completely baffled 😯

Reserve now is for people who are more interested in status and prestige than anything else but too poor to get a Centurian.

What kind of interest rates do you get with the Burgundy savings account? Thinking if I should get one.

Next fraud that I see coming up with Axis. Have a Magnus and continue to make all kinds of spends and rotation through the year. At the end of the year open a Burgundy account. Get the 5:4 miles transfered. Close the Burgundy account. Continue to make all kinds of spends through year 2. 🙂

 

[Deleted member 11974]

yeh bc citi ke hni clients sambhaleneg
aise products laane ke baad kaunsa hi hni client rehna chahega yaha

 

[Deleted member 9785]

Reserve now is for people who are more interested in status and prestige than anything else but too poor to get a Centurian.

What kind of interest rates do you get with the Burgundy savings account? Thinking if I should get one.

Next fraud that I see coming up with Axis. Have a Magnus and continue to make all kinds of spends and rotation through the year. At the end of the year open a Burgundy account. Get the 5:4 miles transfered. Close the Burgundy account. Continue to make all kinds of spends through year 2. 🙂

the 5:4 benefit on burgandy is a limited period offer. Please see the TNC. They already now know what all games people can do and have plugged it

 

[Virgo]

Damn what kinda insurance is it that it demands 3L premium?

ULIPs

 

[Deleted member 9785]

ULIPs

ULIPs are anything but insurance. They are capital destroyers

 

[Virgo]

Reserve now is for people who are more interested in status and prestige than anything else but too poor to get a Centurian.

What kind of interest rates do you get with the Burgundy savings account? Thinking if I should get one.

Next fraud that I see coming up with Axis. Have a Magnus and continue to make all kinds of spends and rotation through the year. At the end of the year open a Burgundy account. Get the 5:4 miles transfered. Close the Burgundy account. Continue to make all kinds of spends through year 2. 🙂

They are separately cracking down on money rotators. So don’t those guys will make the cut anymore.

Never really checked on the interest rate on SB. I have multiple family accounts so Burgundy status earned basis combined balance. Some liquidity maintained in each account.

 

[Deleted member 11974]

Damn what kinda insurance is it that it demands 3L premium?

ULIP maybe

 

[Deleted member 11974]

ULIPs are anything but insurance. They are capital destroyers

agreed

 

[gurbina]

Reserve now is for people who are more interested in status and prestige than anything else but too poor to get a Centurian.

What kind of interest rates do you get with the Burgundy savings account? Thinking if I should get one.

Next fraud that I see coming up with Axis. Have a Magnus and continue to make all kinds of spends and rotation through the year. At the end of the year open a Burgundy account. Get the 5:4 miles transfered. Close the Burgundy account. Continue to make all kinds of spends through year 2. 🙂

Genius idea, might keep this trick handy if still available after a few months.

Also Reserve was never a status card, nobody knows about it and it even looks worse than Magnus. Only advantage is lower FX markup and interest charges.

 

[Deleted member 11974]

Reserve now is for people who are more interested in status and prestige than anything else but too poor to get a Centurian.

What kind of interest rates do you get with the Burgundy savings account? Thinking if I should get one.

Next fraud that I see coming up with Axis. Have a Magnus and continue to make all kinds of spends and rotation through the year. At the end of the year open a Burgundy account. Get the 5:4 miles transfered. Close the Burgundy account. Continue to make all kinds of spends through year 2. 🙂

burgundy account offer is a limitied time offer
and one has to maintain the relation value for getting points at that rate

 

[Deleted member 9785]

burgundy account offer is a limitied time offer
and one has to maintain the relation value for getting points at that rate

The hen with the golden egg is now chopped. Khatam