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

 

[Harry1]

I think in this case you need not hit the ignore button. See my post above

Lol. Please do update here after settlement😅.

Hdfc card holders have one more option though. Hdfc Billpay comes under utility category (not insurance). So probably that is still not fixed

 

[WhoU]

and have u got any ERPs

I think we still get ERP on rent, though it’s not counted towards milestones.

 

[Harry1]

I didn’t know about this ignore button. Does this remove all that user’s posts/comments for me?

Yes. All notifications and posts are hidden from that person.

U can view it temporarily if u want by clicking on one button.

 

[RkrRkr is verified member.]

Anything you say will be used against you in the court of Axis! 😂

Je Baat...Afterallits Axis..

 

[Virgo]

Lol. Please do update here after settlement😅.

Hdfc card holders have one more option though. Hdfc Billpay comes under utility category (not insurance). So probably that is still not fixed

Threshold there is too low, just 75k. I use it for my CC payments

 

[RkrRkr is verified member.]

Look at it after tax. After tax,
Yearly interest of 10L at 3.5% = 24.5k
Yearly interest if 10L FD @ 7% = 49k

So net money lost = 24.5k.
Rewards = ???

If greater than 24.5k, then go for it.

Good observation..

 

[Harry1]

Threshold there is too low, just 75k. I use it for my CC payments

I am talking about hdfc credit card. Rent payment in Billpay accept hdfc credit card also.

 

[Virgo]

I think we still get ERP on rent, though it’s not counted towards milestones.

Let’s see. I used Reserve for the transaction so no milestone to hit. Will update here on 1% surcharge as well as regular reward points (if and when credited)

 

[Virgo]

I am talking about hdfc credit card. Rent payment in Billpay accept hdfc credit card also.

I didn’t know about this. How does it work? I mean while adding the biller in BILL PAY, do you choose Rental type? I have HDFC DCB

 

[Harry1]

I didn’t know about this. How does it work? I mean while adding the biller in BILL PAY, do you choose Rental type? I have HDFC DCB

Yes, it's same ui as payzapp. But mcc is utility instead of insurance (which now seems to have changed to rent for payzapp).

OTP page will not show any merchant name. After payment, statement shows as hdfc Billpay.

 

[Virgo]

Yes, it's same ui as payzapp. But mcc is utility instead of insurance (which now seems to have changed to rent for payzapp).

OTP page will show something like HDFC Billpay.

Thanks. Though I suspect HDFC may have fixed the MCC at both Payzapp as well as Bill Pay section in one go

 

[nikzcool]

My first post on TF and unfortunately on this thread! On the positive note though, for whatever it’s worth, the ERs on travel edge are now 60x, which is quite significant. Given I hold a Burgundy account, I’ll likely hold on to this card and pay taxes to earn points before Sept 01. This will ensure fee waiver till next year and then take a call.

How is it 60x ? 🤨

 

[Virgo]

How is it 60x ? 🤨

It’s 60ER, not 60x

 

[yogeshthube]

Very unlikely. This implies that the age old bug is fixed.

Can you please share some screenshots to justify this?

here you go

 

[Wealth is my birth right!]

@Wealth is my birth right! And all members, they temporarily put block on my er account thanks to bhartnxt but they are all genuine transactions and also done all transactions like all lifestyle transactions like hotels, restaurants, travel, medical, entertainment, giftedge giftcards, grocery, supermarkets, utilities, fuel and all…still they block, whenever person didn’t accept payment via card like pos, upi on credit card and only insist pay via normal bank upi, i paid via credit card via bhartnxt so I don’t know what is the problem…never done a business transaction on bhartnxt or any ms or any rotation…i mailed them to unblock lets wait for reply…any suggestions to unblock?

No
The Axis bank Edge Rewards portal is linked under all logins like app, web login and cust care everywhere you can not access the Edge Rewards until the freeze is released by Axis bank back end team
So the only option is to share them those utilities bill copy and wait for their clearance to make use of the Edge Rewards
U can attach the copies here

Axis Bank

application.axisbank.co.in

 

[WhoU]

here you go

All gates are closing now. Thank god it lasted while the milestones were applicable. Will complete next month’s milestone by paying advance tax.

 

[ishanmontella]

Saame. Planned my advance tax too for 1st August this time 🤣

All gates are closing now. Thank god it lasted while the milestones were applicable. Will complete next month’s milestone by paying advance tax.

 

[satishg85]

Just received Reserve. Does it make sense to activate it? FYI I have a foreign trip planned in August.

 

[WhoU]

Just received Reserve. Does it make sense to activate it? FYI I have a foreign trip planned in August.

Which other cards do you hold? What is the spend amount you are expecting to make in your trip?

 

[CARDBITRAGE]

Just received Reserve. Does it make sense to activate it? FYI I have a foreign trip planned in August.

Reserve is a lost cause. Better get yourself the ACE cc instead.