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

 

[rohitb]

Can I buy airline ticket from alcor?

You can transfer accor points to various airlines . See if those airlines and transfer ratios make sense for you based on your plan.

 

[VijayflyRaven]

Can I buy airline ticket from alcor?

Yes but the transfer rate is not good. It would be 2:1.

 

[typhoon]

Anyone here today got any partner reward points for transfer made on 10 July?

 

[neogen]

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

Exactly.. Magnus na ho gaya stock market ho gaya hai.. Either it will be devalued or it won't be devalued
are ready always.

 

[ramsharma]

Yes but the transfer rate is not good. It would be 2:1.

So is there any specific airline, I should transfer to get max value? I would prefer traveling within India or to South Asian countries.

 

[dsaraswat04]

Is traveledge giving 5x now or not? Can someone please confirm. Cannot see anywhere mentioned

 

[thanix]

So is there any specific airline, I should transfer to get max value? I would prefer traveling within India or to South Asian countries.

Within India, check transfer to Vistara.
For SE Asia, Singapore airlines krisflyer is better
This is direct transfer from Axis and not through Accor which is hotel chain

 

[Viper1057]

Can someone confirm if my calculation is correct?

I go to Grabdeals and use it for going to giftedge and purchase 15000 Amazon Pay voucher (2X offer on GiftEdge currently)

Reward point I will earn:
Grabdeals: 15000/200 * 12 * 5 = 4500
GiftEdge: 15000/200 * 12 * 2 = 1800

Total = 6300 points?

Or I will only get GiftEdge points and this Grabdeals is just a front face? I know that we have a 5000 points limit from GrabDeals every month!

 

[Sharjeelshaikh]

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.

I have SBI prime vistara as back up soon going for ICICI apay no nonsense CBcard....

 

[VijayflyRaven]

Can someone confirm if my calculation is correct?

I go to Grabdeals and use it for going to giftedge and purchase 15000 Amazon Pay voucher (2X offer on GiftEdge currently)

Reward point I will earn:
Grabdeals: 15000/200 * 12 * 5 = 4500
GiftEdge: 15000/200 * 12 * 2 = 1800

Total = 6300 points?

Or I will only get GiftEdge points and this Grabdeals is just a front face? I know that we have a 5000 points limit from GrabDeals every month!

View attachment 22722

Gyftr can be visited directly. No benefit of going through grabdeals.

 

[Sharjeelshaikh]

Can we transfer ER to buy tomatoes

 

[amitalpha]

Can we transfer ER to buy tomatoes

is devaluation ke zamane me tomatoes ki umeed na rakhe

 

[pingtime]

Anyone here today got any partner reward points for transfer made on 10 July?

No. I made transfers to Accor on 8th, 10th and 11th. All of them are stuck in Initiated.

 

[Sandeepmbm]

reliance smart rewards voucher 5x to 3x . Axis walo ne ese bhi Nhi baksa

 

[typhoon]

No. I made transfers to Accor on 8th, 10th and 11th. All of them are stuck in Initiated.

If you haven't received for any of those, then raise complaint otherwise they will not transfer.
As for 8th transfer its already transferred in batch.

 

[Sharjeelshaikh]

No. I made transfers to Accor on 8th, 10th and 11th. All of them are stuck in Initiated.

Aajayega

 

[NikTravelEnthusiast]

Can someone confirm if my calculation is correct?

I go to Grabdeals and use it for going to giftedge and purchase 15000 Amazon Pay voucher (2X offer on GiftEdge currently)

Reward point I will earn:
Grabdeals: 15000/200 * 12 * 5 = 4500
GiftEdge: 15000/200 * 12 * 2 = 1800

Total = 6300 points?

Or I will only get GiftEdge points and this Grabdeals is just a front face? I know that we have a 5000 points limit from GrabDeals every month!

View attachment 22722

You only get Giftedge rewards. i.e. 1800.

 

[typhoon]

Aajayega

aana hota to 8th ka aajata, as sabka 9th & 10th morning 3AM tak received h.

 

[Sharjeelshaikh]

aana hota to 8th ka aajata, as sabka 9th & 10th morning 3AM tak received h.

Kaunsa yeh hafte jaana hai aapko.shanti rakhe

 

[NikTravelEnthusiast]

2023 is toughest year for travel lovers

1. Magnus getting devalued. Others also are following trend.
2. Ever increasing flight rates
3. Hotel chains coming with lot of curbs. E.g. Marriott dynamic pricing.
4.Additional tax on internatinal trips i.e. TCS(ya its yet to be impleted, but it will be I guess, sooner or later)