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

 

[Deleted member 9785]

yeh alag chomu hai sabko scheme batake saturate karwa diya bank ke liye hona hi tha devalue
isse koi in real life mile to mere taraf se bhi 2-4 mukke maarna devaluation laane ke liye

This is a very costly service. I used it once in a flight and this was also being used by a start cricketer. People dont value it as much.

 

[Anonymous ツ]

If it's true, Shouldn't they be giving 90 day notice as spend to reward duration is 90 days.

We are lucky that they are even giving 30 days notice.

 

[Deleted member 11974]

This is a very costly service. I used it once in a flight and this was also being used by a start cricketer. People dont value it as much.

i know the value of it, but these 2 cent influencers promote these cards and help the banks reach their targets to further devaluate the cards quickly for some views and money

 

[Kenu73]

Lol
Yes

I have it all. Now.multiple sources have shared it.

 

[Anonymous ツ]

i know the value of it, but these 2 cent influencers promote these cards and help the banks reach their targets to further devaluate the cards quickly for some views and money

Brother, everything is available here in Technofino community (even much more than what they are telling on youtube)

 

[CMGCMG is verified member.]

I have it all. Now.multiple sources have shared it.

Do you have pdf or image?

 

[jack333]

Nice 👍
Initial fake pdf prepared by either IndusInd or Hdfc sales guys who are not able to survive their card sales due to Magnus card

Bro do you think indusind even cares.🤣 They just fulfill their card lifetime revenues by selling the crappy Vouchagram and luxe vouchers to the few people who just get these cards when they are told their neighbour has one🤣

 

[Deleted member 9785]

Yes, you can earn as much as you want to..But where will you spend?

It's like having 5 cr balance in your savings account but you can withdraw only 5 lacs in a year 😆

i know the value of it, but these 2 cent influencers promote these cards and help the banks reach their targets to further devaluate the cards quickly for some views and money

Inko sirf followers and publicity chaiye. The last thing anyone is bothered is their followers.

Cant blame them dont actors do the same. Influencers are actors of social media.

 

[Himanshu Rathi]

Reasons I consider this Magnus Devaluation clauses FAKE -
1) it gives only 1.2% cashback under 1 lac spending. In fact, LTF Tata Neu Infinity gives 1.5% on UPI.
2) Axis Privilege gives a 5:2 edge reward ratio when used for many multi-brand vouchers including Myntra, Bata, and many more brands.
3) At spends of 1.5 lac in a month we would get 25K+9K= 34K edge which will give around 6800 cv points, while axis Vistara signature/ SBI Vistara Prime (3500 Rs. card) gives premium economy ticket worth 8000-10000 cv and 3000 cv points on spends of 1.5 lac which also includes insurance and utilities.

If Axis wants to devalue this card they can do these things instead of making ratio 5:1 -
1) Pull back Meet and Greet Services or just reduce them to 3-4 /year.
2) Milestone benefit after 1 lac - 12,500 Edge Rewards.
3) Transfer Ratio of 5:3 for airmiles and loyalty points
4) Remove Insurance Premium from attracting edge rewards but count them in milestone benefits or vice versa.

5) SHUT DOWN THEIR BANKING BUSSINESS AND SETTLE IN JAMTARA AND LOOT PEOPLE DIRECTLY 😂

 

[jack333]

Yeah
I have sent a mail to MD desk for clarification
Will wait for them to reply

Direct MD desk bro 🤣 they'll take their sweet time

 

[RupayMan]

Reasons I consider this Magnus Devaluation causes FAKE -
1) it gives only 1.2% cashback under 1 lac spending. In fact, LTF Tata Neu Infinity gives 1.5% on UPI.
2) Axis Privilege gives a 5:2 edge reward ratio when used for many multi-brand vouchers including Myntra, Bata, and many more brands.
3) At spends of 1.5 lac in a month we would get 25K+9K= 34K edge which will give around 6800 cv points, while axis Vistara signature/ SBI Vistara Prime (3500 Rs. card) gives premium economy ticket worth 8000-10000 cv and 3000 cv points on spends of 1.5 lac which also includes insurance and utilities.

If Axis wants to devalue this card they can do these things instead of making ratio 5:1 -
1) Pull back Meet and Greet Services or just reduce them to 3-4 /year.
2) Milestone benefit after 1 lac - 12,500 Edge Rewards.
3) Transfer Ratio of 5:3 for airmiles and loyalty points
4) Remove Insurance Premium from attracting edge rewards but count them in milestone benefits or vice versa.

5) SHUT DOWN THEIR BANKING BUSSINESS AND SETTLE IN JAMTARA AND LOOT PEOPLE DIRECTLY 😂

It's official only.

 

[Wealth is my birth right!]

Bro do you think indusind even cares.🤣 They just fulfill their card lifetime revenues by selling the crappy Vouchagram and luxe vouchers to the few people who just get these cards when they are told their neighbour has one🤣

Yes agreed
IndusInd is the biggest card issuing looter who collects 5yrs card fee together and say the card is ltf and post 3rd year they devalue point’s earnings, golf etc

 

[4uziaul]

Direct MD desk bro 🤣 they'll take their sweet time

Ab jahan se leak hua hoga uska hoga Bamboo agar yeh real hai toh 🤣

 

[jack333]

Yes agreed
IndusInd is the biggest card issuing looter who collects 5yrs card fee together and say the card is ltf and post 3rd year they devalue point’s earnings, golf etc

Another ponzi scheme 🤣

 

[captaintorchtm]

Devaluation might be true but there are chances that someone might have edited the conversion ratio. Let's wait for the official announcement.

 

[Deleted member 9785]

ye

Direct MD desk bro 🤣 they'll take their sweet time

This is done after MD order only if true 🤣

 

[Harry1]

We are lucky that they are even giving 30 days notice.

Right, hsbc removed it's several airline/hotel partners without any notice in April end.

 

[Deleted member 11974]

i

Reasons I consider this Magnus Devaluation causes FAKE -
1) it gives only 1.2% cashback under 1 lac spending. In fact, LTF Tata Neu Infinity gives 1.5% on UPI.
2) Axis Privilege gives a 5:2 edge reward ratio when used for many multi-brand vouchers including Myntra, Bata, and many more brands.
3) At spends of 1.5 lac in a month we would get 25K+9K= 34K edge which will give around 6800 cv points, while axis Vistara signature/ SBI Vistara Prime (3500 Rs. card) gives premium economy ticket worth 8000-10000 cv and 3000 cv points on spends of 1.5 lac which also includes insurance and utilities.

If Axis wants to devalue this card they can do these things instead of making ratio 5:1 -
1) Pull back Meet and Greet Services or just reduce them to 3-4 /year.
2) Milestone benefit after 1 lac - 12,500 Edge Rewards.
3) Transfer Ratio of 5:3 for airmiles and loyalty points
4) Remove Insurance Premium from attracting edge rewards but count them in milestone benefits or vice versa.

5) SHUT DOWN THEIR BANKING BUSSINESS AND SETTLE IN JAMTARA AND LOOT PEOPLE DIRECTLY 😂

i didnt understand the calculation of the 3rd point
should 34k points pe equal to 27200 after conversion at 5:4

 

[sheru]

If Axis wants to devalue this card they can do these things instead of making ratio 5:1 -
1) Pull back Meet and Greet Services or just reduce them to 3-4 /year.
2) Milestone benefit after 1 lac - 12,500 Edge Rewards.
3) Transfer Ratio of 5:3 for airmiles and loyalty points
4) Remove Insurance Premium from attracting edge rewards but count them in milestone benefits or vice versa.
5) SHUT DOWN THEIR BANKING BUSSINESS AND SETTLE IN JAMTARA AND LOOT PEOPLE DIRECTLY 😂

Why are you giving ideas to A xis...❓😂😂

 

[4uziaul]

Another ponzi scheme 🤣

It's simple math: they collect it as tax money and then create a FD in their own bank using that money. Besides, IndusInd always seems to prefer that we use cards from other banks rather than theirs. 🤣