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]

same here, i too haven't. AXIS making excuses now with technical error. Better call travel edge and ask them once.

They asks to email them and then nobody replies on email.

 

[Akash074]

Surely they are not going to devalue the transfer ratio after devaluing gyft edge

 

[Quiksilver27]

This is the first Amazon prime day that i dont feel like buying anything.. now that Magnus is probably devalued on all fronts, suddenly everything feels more expensive! Magnus points cushion made me feel like I'm getting atleast 25% discount in everything thru points! now 10% just doesn't feel enough.. Time to earn more money now rather than depending on the unreliable!

 

[amitalpha]

This is the first Amazon prime day that i dont feel like buying anything.. now that Magnus is probably devalued on all fronts, suddenly everything feels more expensive!

and than there are no good offers that would make you spend irrationally in FOMO.

 

[typhoon]

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

Ofcourse all transfers are on hold as of now, none of the points transferred is being credited. And saying technical fault is their way.

 

[raghav101]

Ofcourse all transfers are on hold as of now, none of the points transferred is being credited. And saying technical fault is their way.

Not true. Just recieved my Accor and ITC points today in the morning.

 

[raghav101]

Not true. Just recieved my Accor and ITC points today in the morning.

What's the maximum points someone has earned in a month with Magnus? Is there a limit?

 

[raghav101]

Time to take Reserve

Whats the maximum points that someone has earned in a month with Magnus? Is there a limit?

 

[jsj]

Mene t

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

Mene toh apne saare Accor ko transfer kar diye. Jab use karna hoga tab dekhenge. Aise toh yeh log 10:1 ka ratio kar denge.

 

[typhoon]

Not true. Just recieved my Accor and ITC points today in the morning.

Just tell me when you have initiated the transfers? Was it on 10th July after 8AM? If no then you would have received it.

 

[Akshay9512]

Should I focus on achieving this month Magnus milestone of 1 lakh? What are you guys planning for July?

 

[Cardmarvel]

Not true. Just recieved my Accor and ITC points today in the morning.

When did you initiate the transfer?

 

[ishanmontella]

5x is on

 

[onlyhg]

Has anybody got the official mail from axis regarding axis magnus devaluation??.

 

[phagocyte536]

5x is on

Great news.

 

[ramsharma]

I have around 1.5L points, I prefer traveling within India but can also plan a trip to South Asian countries. Please help me where would I redeem my points? I can redeem it for both flight as well as hotel.

 

[Deathsnatcher]

I have around 1.5L points, I prefer traveling within India but can also plan a trip to South Asian countries. Please help me where would I redeem my points? I can redeem it for both flight as well as hotel.

Alcor

 

[bonheur]

Aaj koi nayi khabar nahin aayi? This thread is getting boring.

 

[VijayflyRaven]

I applied for SBI cashback and HDFC Millennia to get the 5% replacement for Magnus. I got both rejected due to different reasons. HDFC says I have tata Neu card and hence Millennia is not possible. SBI says due to internal reasons they decline to give cashback card.

So I have to stick with Magnus even after devaluation. So I have to resume my purchases with Magnus and hope they are soft on devaluation.

I can buy 50k Amazon SV and 20k Amazon GV. I have to find a way for the remaining 30k to be able to use Magnus.

 

[ramsharma]

Alcor

Can I buy airline ticket from alcor?