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

 

[pate]

Guys, i have 18,745 rewards so far under Magnus edge reward. Guide me how can i make most effective use of those points as of now? I will be going to Chennai to Delhi in the end of August, can it be used for any sort of flight booking for two passengers?

Move to Vistara for domestic redeemption

 

[Venky]

Quick question, for the July milestone when will be getting the Accelerated 25k ER?

 

[vina]

Bhai, apne comment ko edit karke mere quote mai se 2nd word delete kardo...

Naye mods ko shayad vo word pasand nahi aaya isliye mera comment hi delete kar diya 🤣

Done 🤣

 

[vina]

Congrats!
what was the credit limit of your existing HDFC card?
Did you bump up your HDFC card spends in last 6 months before your fifth application?

I haven't received it yet. Just that the status on HDFC website says "approved"

I didn't bump up the spend, instead I gave up my regalia card in December last year. They closed the account (full and final) in Jan. Waited patiently for 6 months before applying again.

Prior to closing Regalia (which was issued LTF in 2019 I think, and likely even before that). I distinctly remember that when I was filling the form in the branch, the branch manager offered Infinia - told me that it'll be free for first year and next year fee will be waived off only if I spent 8lakhs in a year - I didn't take it because I had no idea thent hat cards offer rewards. Later I took ICICI Amazon Pay and Axis Flipkart - still didn't hear about Smartpay until about 2020 - and then HDFC started rejecting my applications.

I hardly used Regalia until last year when I closed it. The guys kept telling me "if you spend 7.5 lakhs over 6months we will upgrade to Infinia" - and I kept telling them I can't do that, 5% of 7.5lakh is still nearly 40k, I would rather use Amazon.

Anyway, some of my classmates got Infinia offered to them immediately when they showed up at HDFC branch and then a light went in my head - may be the problem is with upgrade, not with new card.


So then - I cancelled Regalia and just waited

 

[vina]

Quick question, for the July milestone when will be getting the Accelerated 25k ER?

by aug 10

 

[dominic1229]

I haven't received it yet. Just that the status on HDFC website says "approved"

I didn't bump up the spend, instead I gave up my regalia card in December last year. They closed the account (full and final) in Jan. Waited patiently for 6 months before applying again.

Prior to closing Regalia (which was issued LTF in 2019 I think, and likely even before that). I distinctly remember that when I was filling the form in the branch, the branch manager offered Infinia - told me that it'll be free for first year and next year fee will be waived off only if I spent 8lakhs in a year - I didn't take it because I had no idea thent hat cards offer rewards. Later I took ICICI Amazon Pay and Axis Flipkart - still didn't hear about Smartpay until about 2020 - and then HDFC started rejecting my applications.

I hardly used Regalia until last year when I closed it. The guys kept telling me "if you spend 7.5 lakhs over 6months we will upgrade to Infinia" - and I kept telling them I can't do that, 5% of 7.5lakh is still nearly 40k, I would rather use Amazon.

Anyway, some of my classmates got Infinia offered to them immediately when they showed up at HDFC branch and then a light went in my head - may be the problem is with upgrade, not with new card.


So then - I cancelled Regalia and just waited

What was the credit limit on your Regalia at the time of closing it?

 

[Sharjeelshaikh]

Ye lo

 

[bengaltiger]

this is how to kill a good products. are they profit hungry? HUGE REPUTATION LOSS

 

[Sharjeelshaikh]

this is how to kill a good products. are they profit hungry? HUGE REPUTATION LOSS

Kis topic PE gussa phut Raha aapka yeh bhi likh do

 

[raghav101]

My card limit is 6 lakhs on magnus. If I deposit 12 lakhs and then pay for something worth 12 lakhs will the payment be successful? Will I get reward points on 12 lakhs or 6 lakhs?

 

[raghav101]

Nice

 

[rohitb]

My card limit is 6 lakhs on magnus. If I deposit 12 lakhs and then pay for something worth 12 lakhs will the payment be successful? Will I get reward points on 12 lakhs or 6 lakhs?

I don't think you will be able to make one transaction of 12 lakhs as it's capped at 6 lakh as that is the card limit.

 

[pate]

My card limit is 6 lakhs on magnus. If I deposit 12 lakhs and then pay for something worth 12 lakhs will the payment be successful? Will I get reward points on 12 lakhs or 6 lakhs?

Use 6 lakhs then make a payment of 6 lakhs immediately then again make a transaction of 6L.

 

[hemant89]

Ye lo

Chances they make it a good travel card?

 

[Sharjeelshaikh]

Chances they make it a good travel card?

Adani se umeed kuch Dene ki hahaha

 

[CardTox]

Move to Vistara for domestic redeemption

Could me guide me how to do that, i am nubi for this Magnus vistara game....

 

[Shadow747]

Guys, i have 18,745 rewards so far under Magnus edge reward. Guide me how can i make most effective use of those points as of now? I will be going to Chennai to Delhi in the end of August, can it be used for any sort of flight booking for two passengers?

These days Vistara redemption seats availability is very poor. Don't transfer points without checking the availability for the route on random dates to avoid disappointment and points stuck in Vistara.

 

[ankurarora898]

guys dubai flight liye kaunsa transfer partner best value rahega? will get only 3 months milestone points as joined in may only.Will be planning for sometime next year

 

[Shadow747]

guys dubai flight liye kaunsa transfer partner best value rahega? will get only 3 months milestone points as joined in may only.Will be planning for sometime next year

Etihad for travel to Abu Dhabi and then free bus transfer to Dubai should do the trick for you. Club Vistara future is uncertain as airline companies can change policy overnight so not recommending plus poor redemption availability.

 

[captaintorchtm]

AXIS BANK: Q1 SL NET PROFIT 57.97B RUPEES VS 41.25B (YOY)
INTEREST EARNED 255.57B RUPEES VS 187.28B (YOY)
GNPA 1.96% VS 2.02% (QOQ)
NNPA 0.41% VS 0.39% (QOQ)
PROVISIONS AT 10.35B RUPEES VS 3.06B (QOQ)

who would trust Axis if they earned this much profit even after launching great rewards on Magnus last year and still devalued it within a year?