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

 

[vinrey287]

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

Even Cashback/Millennia/Ace/apay is more rewarding considering these are either free or low fees compared to Magnus

 

[D7162]

35 ER after 1.5 spends

It will be for transaction done above 1.5 lakh only, right ? Just same as IDFC

 

[Bhargav]

Can some one please share me cancellation mail for Magnus. Will be using the same

 

[tapishj]

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.

Will have to start a new thread for this.

 

[amitr29]

Only benefit I see is that now we can spend the way we want, without maintaining the Excel sheet 😂

 

[captaintorchtm]

Will have to start a new thread for this.

are you starting or should i?

 

[thanix]

This version is far better. Burgundy account to retain the 5:4 is icing on the cake. It will still be a good card for them with normal spends and mostly on travel. No need to chase the 1L milestone benefits.

Fee change is unwarranted and removal of annual benefit leaves a poor taste.

 

[tapishj]

are you starting or should i?

https://www.technofino.in/community/threads/best-card-among-magnus-mrcc-dcb-platinum.15239/post-284705

 

[captaintorchtm]

Is there any devaluation on the call to cancel and retain ER bonus points trick too? Like accepting the cancellation request 😜

Jokes aside, this version is far better. Burgundy account to retain the 5:4 is icing on the cake. It will still be a good card for them with normal spends and mostly on travel. No need to chase the 1L milestone benefits.

Fee change is unwarranted and removal of annual benefit leaves a poor taste.

5:4 is time bound, not always 😛

 

[woolooloo]

I have burgundy account. Yet this magnus offering is shit, going to use Infinia for no bull shit spends.

I have lost all trust in Axis.

And please don't even think of opening a burgundy with 10L balance:

Yearly interest on 10L savings at 3.5% = Rs 35000
Yearly interest on 10L FD @ 7% = Rs 70000

Don't keep 10L lying around in savings bank because you're losing more than what any credit card can give you in terms of returns.

 

[Sharjeelshaikh]

Is there any devaluation on the call to cancel and retain ER bonus points trick too? Like accepting the cancellation request 😜

Jokes aside, this version is far better. Burgundy account to retain the 5:4 is icing on the cake. It will still be a good card for them with normal spends and mostly on travel. No need to chase the 1L milestone benefits.

Fee change is unwarranted and removal of annual benefit leaves a poor taste.

M&g ek extra benefit hai not the core target of users this card is garbage now....period chuso till August then kiss good bye aur nayi chamiya dhoondho koi aur card mei

 

[Oscar]

Did anyone notice this 😀

 

[sid16]

For those who care, they are not removing the Meet and Greet services. So that remains a USP of this card. Maybe people will be ready to give 10k a year for that. Not me though, will be demanding LTF.

 

[Sharjeelshaikh]

For those who care, they are not removing the Meet and Greet services. So that remains a USP of this card. Maybe people will be ready to give 10k a year for that. Not me though, will be demanding LTF.

Yeh phukat janata hai ..no one is gonna renew without renewal benefits

 

[captaintorchtm]

For those who care, they are not removing the Meet and Greet services. So that remains a USP of this card. Maybe people will be ready to give 10k a year for that. Not me though, will be demanding LTF.

i thought fees would also go down to around 8k with devaluation but it went to 12.5 😛

 

[varunchopra]

With Milestone benefits out ,this card become very ordinary.
Few observation
1.They want to clear any outstanding points before September 1st to avoid any escalation.They have mentioned to credit Milestone 25 k points for May and June but forgot to mention April.
2. They haven't provided any clarification on credit of accelerated rewards for Voucher purchase and Grabdeals.
3.Accor points have been kept at the same level.
4.This card will only become suitable for people with huge travel spend through travel edge.

 

[woolooloo]

I just hope HDFC doesn't use this as an excuse for another Infinia devaluation :'(

 

[Indian]

With Milestone benefits out ,this card become very ordinary.
Few observation
1.They want to clear any outstanding points before September 1st to avoid any escalation.They have mentioned to credit Milestone 25 k points for May and June but forgot to mention April.
2. They haven't provided any clarification on credit of accelerated rewards for Voucher purchase and Grabdeals.
3.Accor points have been kept at the same level.
4.This card will only become suitable for people with huge travel spend through travel edge.

For April they default credit is July , so may be not mentioned , here I want to confirm meet and greet still applicable or not

 

[Sharjeelshaikh]

For April they default credit is July , so may be not mentioned , here I want to confirm meet and greet still applicable or not

Yes but that's not the fulcrum of this card it's conversion ratio and milestone and gyftr.now it's dead

 

[Tirajat]

My first post on TF and unfortunately on this thread! On the positive note though, for whatever it’s worth, the ERs on travel edge are now 60x, which is quite significant. Given I hold a Burgundy account, I’ll likely hold on to this card and pay taxes to earn points before Sept 01. This will ensure fee waiver till next year and then take a call.