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

 

[DarkShadow]

at this point except for the 5:4 conversion, with the devaluation of gyftr and grabdeals, and restrictions put on portals like bharatnxt (who were showing transactions as utility payments) and taxes (govt transactions) along with prior restrictions on rents etc

I dont think utilities and government transactions are yet axed on Magnus. Community, any insights?

 

[VijayflyRaven]

I dont think utilities and government transactions are yet axed on Magnus. Community, any insights?

Right now no changes yet. 109 pages of speculation. We need to wait for official statement

 

[neogen]

Right now no changes yet. 109 pages of speculation. We need to wait for official statement

Wish I could have seen this post earlier . Had to read 100+ pages 🙄

 

[CCUser_1999]

now gyftr is more in line with amex reward multiplier i think

There is no comparison between Axis and AMEX. AMEX basis customer service is 100 times better than Axis premium service. Only thing going or was going for Axis was reward rate.

 

[Harry1]

Someone call customer care and get some new fake info. Nothing in last 24 hours yet😂.

 

[neogen]

Someone call customer care and get some new fake info. Nothing in last 24 hours yet😂.

I called the customer service...




And
.
.
.
.
.



















They didn't pick up the phone.

 

[navam]

Lol i think everyone is having a great time speculating kya hoga next, this entertainment alone can offset the 10k joining fee na (kitne dinon se timepass chal raha hai)

 

[thanix]

Lol i think everyone is having a great time speculating kya hoga next, this entertainment alone can offset the 10k joining fee na (kitne dinon se timepass chal raha hai)

And that too with BOGO. Speculate about Magnus and get Flipkart card devaluation free 😂

 

[R!ppEr]

Again, if anyone isn't travelling soon and has a bulk of points they wanna cash in do DM me!

 

[khaitan.rajesh29]

If anyone is not able to utilize their points and want to encash it..dm me

 

[Eye of AjayEye of Ajay is verified member.]

The suspense is killing me can't wait to shift the points and close the card and be done with this daily bhassad

 

[neogen]

Lol i think everyone is having a great time speculating kya hoga next, this entertainment alone can offset the 10k joining fee na (kitne dinon se timepass chal raha hai)

But mine was FYF..
Aur tatacliq voucher bhi mile.
Timepass me maja nahi aa raha
🍿 🍿 🍿 🍿 🍿

 

[chasni]

Why there are so many people offering cash for points? There is no devaluation of points transfers yet. Even if there is a devaluation, you will get at least 30 days notices. So, you will have sufficient time to transfer points to Hotel/Airline program.

My suggestion would be to have patience and not get scared. Otherwise you will end up offloading points to others at a cheap rate in fear and then regret later.

 

[Slayer]

But mine was FYF..
Aur tatacliq voucher bhi mile.
Timepass me maja nahi aa raha
🍿 🍿 🍿 🍿 🍿

Bade log idhar toh FYF without benefit manga bola ki Sir apka C2C se limit match hoga zyada se zyada

 

[thanix]

But is transfer of points to some other account allowed? I thought names of FF programs should match with Axis edge rewards account.

 

[yolosingh]

Does grabdeals 5X Rewards for flipkart work on airpods? I can see it doesn't apply on smartphones, so curious if it applies to headphones and alike.

 

[CARDBITRAGE]

Why don't we all take a break for a week? All this speculation isn't going to lead to anything. We've all shared our fair bit, and Axis has more than enough feedback for the same. Better to leave it at this, as it is now in Axis' hands to do what they think is right for them and right by us.

 

[neogen]

Why don't we all take a break for a week? All this speculation isn't going to lead to anything. We've all shared our fair bit, and Axis has more than enough feedback for the same. Better to leave it at this, as it is now in Axis' hands to do what they think is right for them and right by us.

Completely agree. Lets close this thread. Hopefully nothing will leak this weekend.

 

[abhi2992]

Why don't we all take a break for a week? All this speculation isn't going to lead to anything. We've all shared our fair bit, and Axis has more than enough feedback for the same. Better to leave it at this, as it is now in Axis' hands to do what they think is right for them and right by us.

Issme there is no fun. 75k points of mine are incoming. That's like 7 Goa trips back and forth. I can go have jeera rice dal fry at lush by the cliff and come back simply for the fun of it...

 

[thanix]

Completely agree. Lets close this thread. Hopefully nothing will leak this weekend.

Though I would like to agree, but I will feel better to leave the thread open. Call me superstitious, after this thread the devaluation of redemption didn't happen 😂

And other reason is enjoying the witty responses and dry humour too 😜