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

---

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

---

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

---

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

---

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

 

[Harry13]

Till when can we transfer to miles at 5:4?

 

[hysteriadoc]

Axis customer care is denying the changes. Just yesterday i recieved this card & today this devaluation email & sms. I am jinxed. I immediately called customer care & they are denying any changes. They are saying "Even hough I have recieved communication from Axis, we have no official confirmation regarding the same and the doesnt reflect on the website. So, nothing is officially confirmed." They seem to be lying blatantly.

 

[amitr29]

Axis Bank goes after “non-personal spends” on Credit Cards; blocks rewards accounts - Live from a Lounge

Axis Bank has gone after manufactured spending, and other "non-personal spend" in a big way last night, blocking access for various customers to their accounts and requiring them to present proof that their spend was not against the T&C of the credit card issued to them.

livefromalounge.com

 

[Zarieal]

I have Reserve+Magnus with Burgundy Account. Does that mean that spending through my Reserve Card will earn 15 ER per Rs 200 spent and then I can convert them at 5:4 only as the Axis system fails to distinguish between different credit cards ER conversion (Previously converting Select ER also as 5:4 with partners)?

 

[Deathsnatcher]

With gyftr limit of 20k apay/month and no rewards on utility payments
it will be difficult to reach 1L now
what options do we have

 

[amitr29]

can anyone tell difference b/w burgundy and burgaundy private.

Burgundy 10 lacs NRV and Private 5 Crs NRV

 

[amitr29]

I have Reserve+Magnus with Burgundy Account. Does that mean that spending through my Reserve Card will earn 15 ER per Rs 200 spent and then I can convert them at 5:4 only as the Axis system fails to distinguish between different credit cards ER conversion (Previously converting Select ER also as 5:4 with partners)?

It's Burgundy Private for Reserve. 5 crs NRV

 

[captaintorchtm]

For people who recently got Magnus and might still get one or two milestone benefits, which is the best transfer partner, considering value of points & validity (considering nothing is planned as of now)?
I see a lot of people talking about Accor, but want to get a general opinion here.

im in the same boat. will get 3 milestones but im confused between Accor and ITC as I will also get Marriot points from amex travel card.

 

[aggarwal]

With gyftr limit of 20k apay/month and no rewards on utility payments
it will be difficult to reach 1L now
what options do we have

What will you do after reaching 1L now?

 

[Sharjeelshaikh]

Axis customer care is denying the changes. Just yesterday i recieved this card & today this devaluation email & sms. I am jinxed. I immediately called customer care & they are denying any changes. They are saying "Even hough I have recieved communication from Axis, we have no official confirmation regarding the same and the doesnt reflect on the website. So, nothing is officially confirmed." They seem to be lying blatantly.

 

[Deathsnatcher]

What will you do after reaching 1L now?

35 ER after 1.5 spends

 

[vinrey287]

With gyftr limit of 20k apay/month and no rewards on utility payments
it will be difficult to reach 1L now
what options do we have

Unless we use for travel edge, this card is not worth keeping for 12k. Gyftr is no longer rewarding

 

[Googix]

Time to get DCB and not wait for hdfc to provide Infinia. Any other cards to get rather than DCB?

 

[phildunphy]

Even if someone gets Burgundy for 5:4, unless you hold Reserve, its still useless as a Magnus holder.
25000 milestone is gone, at 2.4% , it becomes 4.8% for maintaining 10L min balance

 

[Zarieal]

It's Burgundy Private for Reserve. 5 crs NRV

Right but the system fails to distinguish while transferring it. So as I have Magnus too, ER earning with reserve would transfer at 5:4 as Magnus+Burgundy gives 5:4 or they need to patch this thing as well.

 

[rogerthat]

Magnus is good now for someone who has extra 10L lying around without any use.

 

[sid16]

Burgundy 10 lacs NRV and Private 5 Crs NRV

Burgundy NRV is 30 lakhs. 10 lakhs only if you keep it in Savings and not in FD.

 

[D7162]

I have Reserve+Magnus with Burgundy Account. Does that mean that spending through my Reserve Card will earn 15 ER per Rs 200 spent and then I can convert them at 5:4 only as the Axis system fails to distinguish between different credit cards ER conversion (Previously converting Select ER also as 5:4 with partners)?

Yes most probably

 

[amitr29]

Right but the system fails to distinguish while transferring it. So as I have Magnus too, ER earning with reserve would transfer at 5:4 as Magnus+Burgundy gives 5:4 or they need to patch this thing as well.

Open mein mat likho aisi baatein 🙊Mahaul kharaab hai

 

[Sharjeelshaikh]

Meanwhile