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

 

[Walter White]

Lol. Ek kaam theek se nahi hota inse. 🤣

 

[Reward Hunter]

Guys this is the document, got sms now.

 

[amit]

They are planning to credit May and Jun milestone by Jul 31. What about April? Have we already got it?

you will get on 31st Jul

 

[amit]

so on 31st Jul I will be sitting on 1.20L ER. biggest salary ever.

 

[mastfun]

 

[Ankur dhanda]

close the card in September or open burgundy account?
Might just close it

 

[Walter White]

Government spends aur utilities exclude ho gye toh soch rha hun Magnus activate na karu aur uski jegah Aurum utha lu. Pure family ke tax payments isi card se karunga annual fee waive off ke liye.

 

[amitr29]

I just called customer care as the url received on sms is not working. They said axis thought of changing t&c ,but that changes are cancelled,hence url is not opening.

So there are no changes has been done on magnus as of now.

Absolutely rubbish !!

 

[bhatt83hemang]

Worst is
-25lakh spend for fee waver.
-12500+tax.. no benifit aginst it.
-Utility not count for milestone

then how people spend 25lakh...

 

[PavanPavan is verified member.]

Guys is this real 😀 called cutomer care they are saying nothing happening 😀

 

[VijayflyRaven]

Interesting now. So with the milestone gone, I don’t need to worry too much about spending a lakh every month. After 1.5 lakhs we get 3.5% rewards. If they had kept utility and government, I would have kept the card, provided I get tata cliq vouchers. But now since these are all gone, I will use the remaining meet and greet services and close it.

 

[D7162]

Milestone k sath sath gyftr aur grabdeal bhi credit kardo

 

[Leoavneet]

Till when can we redeem our points at 5:4 ratio?

 

[phagocyte536]

When will august milestone be credited if I spend 1L+? That's doesn't seem to be clear

 

[Walter White]

When will august milestone be credited if I spend 1L+? That's doesn't seem to be clear

Is month ka normal scene hi rahega most likely

 

[D7162]

When will august milestone be credited if I spend 1L+? That's doesn't seem to be clear

For august spend - it will be after 90 days

 

[PavanPavan is verified member.]

Absolutely rubbish !!

No no he is right just now even i called them 😀

 

[Ankur dhanda]

Someone do share reserve pdf as well

 

[phagocyte536]

Good while it lasted.. i wish they committed about giving gyftr and grabdeal accelerated rewards before 5:4 is gone

 

[V G]

One thing which is missing is "Early credit of Gyftr points and Grab deals". Otherwise I would say Axis has been fair with us by crediting rest of the points early. Sad to see 25K gone. Instead of 5:2, 5:3 ratio would have been better.
Wrost part is on renewal, we do not get anything. Due to this, it is difficult to continue at the time of renewal.