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Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

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-- 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
 

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Harry1 said:
For me, the leaked devaluation was not huge, as I value miles at 0.5-0.6 rs and Multibrand voucher at 5:2 were still an option, so points value was going down only by 30% or so for me.

But this just makes it unusable for me. I have some tax payments this month, so I will still be able to reach milestone this month. But definitely not in next month.
Click to expand...
They have killed all type of customers with this all round devaluation.

It is gameover for Magnus. If they change or revoke the plan, it changes nothing. We lost trust now
 
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Upvote 0 Downvote
Harry1 said:
For me, the leaked devaluation was not huge, as I value miles at 0.5-0.6 rs and Multibrand voucher at 5:2 were still an option, so points value was going down only by 30% or so for me.

But this just makes it unusable for me. I have some tax payments this month, so I will still be able to reach milestone this month. But definitely not in next month.
Click to expand...
Congratulations on the 2000th post! 😊👏👏
 
Upvote 0 Downvote
Axis is doing all the right things. But it must have been done in multiple phases. Doing everything now means people will see it and leave.

Imagine a frog getting in to a boiling water and it jumps off. If the same frog jumps in to a nice warm water and then slowly water begins to boil, frog won’t know.
 
Upvote 0 Downvote
Himanshu Rathi said:
Axis has done the Following changes by now ---->
1) Axis Gyftr most vouchers at 2X, 3X, 5X.
2) Axis Grab Deals capped at 5X.

With these changes, a 5:4 ratio seems to be fair as many brand vouchers are available at 7.5-10% discount outside which are categorized in 3X on Axis Gyftr.
Even If the ratio is kept at 5:4, it would be difficult for Axis as 3X Edge rewards will give 14.6% Airmiles while outside purchases would give a 10% discount and 4.8% Airmiles. A smart person would mostly choose discounts over equal Airmiles/ loyalty points until and unless it's Accor points ( 1 point equivalent to Rs 1.8).

Note- Accor Points are considered with a 5:4 Transfer Ratio. Do let me know if my calculations are wrong.
Click to expand...
yes now if they make 5:4 then I will literally burn this CC .. and make a video and post it
 
Upvote 0 Downvote
VijayflyRaven said:
Axis is doing all the right things. But it must have been done in multiple phases. Doing everything now means people will see it and leave.

Imagine a frog getting in to a boiling water and it jumps off. If the same frog jumps in to a nice warm water and then slowly water begins to boil, frog won’t know.
Click to expand...
+1 axis is doing the right thing, a bank is not here for charity and to please people. if you don't like Magnus please move on.this gradual deval is fine than having direct 5:1 transfer
 
Upvote 0 Downvote
They have done there maths basis data and reduced ER in cases where vouchers were majorly used just just to hit 100k milestone. Shopping brands are still at 5x bcoz those will be genuine purchases. Yesterday at 4:30 PM I bought lifestyle voucher at 10x and at 7:00 PM it was 3x 😆

Those thinking that airport guys or sales guys will accept devaluation reality are wrong. Sales guys want to milk the cow, as much as possible. They want to sell more magnus till the news is officially out.
 
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Himanshu Rathi said:
I think 2X is also good for Amazon and Flipkart as there are hardly any discounts for these vouchers outside, Mostly capped at 2-4%.
Click to expand...
Rs. 1000 worth of Amazon pay GV via Axis Magnus = 96 Airmiles/CV points
Rs. 1000 worth of Amazon pay GV via HDFC Infinia = 150 Airmiles/CV points

Infinia can now destroy Magnus by providing 56% more value than Magnus GV. Now, Infinia has pure dominance in terms of Gyftr GVs.
 
Upvote 0 Downvote
amitr29 said:
They have done there maths basis data and reduced ER in cases where vouchers were majorly used just just to hit 100k milestone. Shopping brands are still at 5x bcoz those will be genuine purchases. Yesterday at 4:30 PM I bought lifestyle voucher at 10x and at 7:00 PM it was 3x 😆

Those thinking that airport guys or sales guys will accept devaluation reality are wrong. Sales guys want to milk the cow, as much as possible. They want to sell more magnus till the news is officially out.
Click to expand...
do you think axis will honour 10x .. what if they give 3x . how will we prove them that it was 10x at the time of buying and not 3x .. 😛
 
Upvote 0 Downvote
amitr29 said:
They have done there maths basis data and reduced ER in cases where vouchers were majorly used just just to hit 100k milestone. Shopping brands are still at 5x bcoz those will be genuine purchases. Yesterday at 4:30 PM I bought lifestyle voucher at 10x and at 7:00 PM it was 3x 😆

Those thinking that airport guys or sales guys will accept devaluation reality are wrong. Sales guys want to milk the cow, as much as possible. They want to sell more magnus till the news is officially out.
Click to expand...
When we buy any voucher from Gyftr, do we get any notification that the voucher purchased will fetch 3x/5x points?
I mean in your case, if Axis credits only 3x points after 120 days, what proof do you have to present to them that it should fetch 10x? Screenshots with date and time? 😀
 
Upvote 0 Downvote
dominic1229 said:
Rs. 1000 worth of Amazon pay GV via Axis Magnus = 96 Airmiles/CV points
Rs. 1000 worth of Amazon pay GV via HDFC Infinia = 150 Airmiles/CV points

Infinia can now destroy Magnus by providing 56% more value than Magnus GV. Now, Infinia has pure dominance in terms of Gyftr GVs.
Click to expand...
Agreed. But if you hit 1lakh milestone then you effectively get another 50 airmiles. So comparable to Magnus.
Also I have got more than 15k to 20k points in bonus in a month on Magnus but infinia has restrictions on per day and per month. So need to calculate and spend on big purchases like tv or flight.
 
Upvote 0 Downvote
amitr29 said:
They have done there maths basis data and reduced ER in cases where vouchers were majorly used just just to hit 100k milestone. Shopping brands are still at 5x bcoz those will be genuine purchases. Yesterday at 4:30 PM I bought lifestyle voucher at 10x and at 7:00 PM it was 3x 😆
Click to expand...

Glad to know we still have folks who believe Axis will honour the 10x rate when it was devalued to 3x on the same day 🙂
 
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