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

 

[bigbrain]

I got last for one of the transactions of 16th July.

And somehow with Axis grace, I got travel edge bonus as well (travel is in mid August).

Lucky you.
I booked tickets on 2 separate days in end of June. I got bonus ER points for first booking and not yet for the second one.
I am currently transferring points as and when I get them. Have initiated transfer 3 times since the devaluation news broke

 

[Darthvader]

I got last for one of the transactions of 16th July.

And somehow with Axis grace, I got travel edge bonus as well (travel is in mid August).

We get bonus 5x points before the trip is completed ? i assumed we get points after the trip completion.

 

[hks789]

We get bonus 5x points before the trip is completed ? i assumed we get points after the trip completion.

As per the official tnc and banner shown in TE, it will be credited after travel/stay date.
But Axis in the past have been crediting them in 30-45 days regardless of travel.
I booked September flights on June first week, got 4x 2nd week July.

For flights booked for immediate travel dates, I got them within 1 week after travel.

 

[phagocyte536]

As per the official tnc and banner shown in TE, it will be credited after travel/stay date.
But Axis in the past have been crediting them in 30-45 days regardless of travel.
I booked September flights on June first week, got 4x 2nd week July.

For flights booked for immediate travel dates, I got them within 1 week after travel.

Similar experience. Lord Axis works in mysterious ways

 

[TestMyPatience]

We get bonus 5x points before the trip is completed ? i assumed we get points after the trip completion.

Yeah, I was also of similar opinion.

Just after checking, I haven’t received bonus points for the flight I took on 16th July. But already got it for August one.

I guess with Axis we would never know.

 

[hungryPanda]

For me experience has been a bit confusing.

I have booked 2 tickets one in 1st week of june and other in 2nd week both are completed next day of booking itself.

Yet to get 5x points for both.

1st week ticket travel was done by 6th june.

 

[TestMyPatience]

Lucky you.
I booked tickets on 2 separate days in end of June. I got bonus ER points for first booking and not yet for the second one.
I am currently transferring points as and when I get them. Have initiated transfer 3 times since the devaluation news broke

I joined the party three months back, so have like 50K points, moved some for flights. Waiting for official news and milestones.

 

[MilesMax]

What do you value in Atlas card, seems pretty ordinary if spends not high ? please explain how do u use it

Atlas provides 5 EM / 100 on traveledge.
That's 10% return on airmile.

Magnus would be 60 ER / 200 at 5:1
It's 6% return on airmile
Or 3% for Accor

 

[navam]

Hey did anyone find anything in the magnus TnC that says we are supposed to get x days notice for any changes pertaining to transfer partners / gyftr etc?
Wondering if I should be cautious and move the points out before 12th aug? (I'd rather keep it here and move to a partner when actually needed but...) What are you all doing?

 

[SuperKnight]

Atlas provides 5 EM / 100 on traveledge.
That's 10% return on airmile.

Magnus would be 60 ER / 200 at 5:1
It's 6% return on airmile
Or 3% for Accor

good thing is that there is no cap here, whereas my DCB has a meagre 2500 RPs daily limit

 

[Sharjeelshaikh]

Technofino Wale founder phir se devaluation ki video daal rahe you tube pe jabardasti ki ungli

 

[VijayflyRaven]

I initiated 2lac ER to qatar on 10 July but the status is in pending state. Any one transferred big amounts to any program and know the wait times before it was processed ?

I transferred 2.5L to Accor. It was seamless as the transaction was done just when rumour was out.

 

[saketreddy]

Received accor points for transfer done on 16th

 

[vinrey287]

Has Gyftr devaluation ever happened before?
Should we expect it to go back to pre July rates 5x n 10x, once Magnus is devalued which is probably coming up soon?

 

[raghav101]

I transferred to United on 17th. Still pending!!! I thought United transfers same day.

 

[Deleted member 9785]

Technofino Wale founder phir se devaluation ki video daal rahe you tube pe jabardasti ki ungli

 

[Sharjeelshaikh]

Has Gyftr devaluation ever happened before?
Should we expect it to go back to pre July rates 5x n 10x, once Magnus is devalued which is probably coming up soon?

Bhool jao .yes periodic offers ayege during Diwali new years

 

[Deleted member 9785]

 

[rogerthat]

Same

 

[sky_walker_rules]

Technofino Wale founder phir se devaluation ki video daal rahe you tube pe jabardasti ki ungli

they will earn come money by getting views .