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

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bugmenot

bugmenot

TF Legend
-- 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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dominic1229 said:
Even after deval, it is totally worth for first year. Get the 10K Tata Cliq voucher and also get your free Eazydiner Prime membership. For Eazydiner Prime call on this number: 7669004444 (AXIS EAZY DINER HNI CONCIERGE) from the phone number registered with Magnus card and inform them that you got a Magnus card and need the complimentary EzDiner Prime membership. You will receive a link on whatsapp and need to make a payment of Rs.1 using your Magnus to claim it.
Get 40% off upto 1K on payments done via EzDiner.
Try to complete the 1Lakh monthly milestone at least for 1 month in the first year to get 25K edge RP (more the better).
Make good use of the 5x free movie tickets monthly offer (max. 500 for 1 ticket) on BookMyShow.
and many more rewards.....

Not a bad first year.
Click to expand...
Just sharing my experience of just 1 week with Magnus. In 1 week I have got/used benefits worth 14.4K now and most probably 20K in future + more bonus RP from the Gyftr voucher purchases.
EzDiner Prime: 2.4K
TataCliq voucher: 10K
Savings from 1 dinner using Magnus ezdiner discount: 1K due to Magnus 1K offer.
Went for a movie in a group of 4, so got 2 tix free: 1K
Completed 1L milestone, so will get 25K RP in future: 20K CV points/20K INR
So, you can get a good value even in 1 month and even without monthly milestone.

I will use it for first year for sure, but renewal will depend on how things go in next 11 months (impact on Renewal benefit, impact from Devaluation)
 
Upvote 0 Downvote
dominic1229 said:
Just sharing my experience of just 1 week with Magnus. In 1 week I have got/used benefits worth 14.4K now and most probably 20K in future + more bonus RP from the Gyftr voucher purchases.
EzDiner Prime: 2.4K
TataCliq voucher: 10K
Savings from 1 dinner using Magnus ezdiner discount: 1K due to Magnus 1K offer.
Went for a movie in a group of 4, so got 2 tix free: 1K
Completed 1L milestone, so will get 25K RP in future: 20K CV points/20K INR
So, you can get a good value even in 1 month and even without monthly milestone.

I will use it for first year for sure, but renewal will depend on how things go in next 11 months (impact on Renewal benefit, impact from Devaluation)
Click to expand...
Sir, by any chance are you Axis employee working in Credit card Sales team? Please give true reply 😆
 
Upvote 0 Downvote
My transfers to Kris Flyer and Club ITC initiated on July 9th are yet to realise.

In March each of my three Kris Flyer transfers got credited in 2 days.

ITC takes 7-10 days, so there's still time to wait before the crib.

Called up travel edge just now about the above.
Here's what I was told

"Technical issue. Back end team is looking into it. All transfers on hold. No resolution timeline as of now".

About travel edge devaluation, I was told 5x remains, but depends on the card. Check with credit card team.

S&M
 
Upvote 0 Downvote
dominic1229 said:
Just sharing my experience of just 1 week with Magnus. In 1 week I have got/used benefits worth 14.4K now and most probably 20K in future + more bonus RP from the Gyftr voucher purchases.
EzDiner Prime: 2.4K
TataCliq voucher: 10K
Savings from 1 dinner using Magnus ezdiner discount: 1K due to Magnus 1K offer.
Went for a movie in a group of 4, so got 2 tix free: 1K
Completed 1L milestone, so will get 25K RP in future: 20K CV points/20K INR
So, you can get a good value even in 1 month and even without monthly milestone.

I will use it for first year for sure, but renewal will depend on how things go in next 11 months (impact on Renewal benefit, impact from Devaluation)
Click to expand...
We have to make peace as we got the card. We can use all features now and make sure we don’t leave any feature unused.

If someone has to renew or get a new Magnus, it is a different story. There are better options for each item listed by you.
 
Upvote 0 Downvote
Sharjeelshaikh said:
My friend did transaction on 40000 on 27 may calendar month to hit milestone axis put settlement date 6 June .topa laga dia
Click to expand...
Setllement date is based on the date when merchant settles the transaction. Usually, merchants have a week to settle the transaction captured from cards else it gets reversed to the card. This is as per information but other experts may be able to weigh in.
 
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chasni said:
Setllement date is based on the date when merchant settles the transaction. Usually, merchants have a week to settle the transaction captured from cards else it gets reversed to the card. This is as per information but other experts may be able to weigh in.
Click to expand...
Nowadays it's realtime a merchant has to settle compulsory before midnight..my friend himself is shopkeeper with card swipe machine
 
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