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

 

[amitr29]

Now , people not feeling that bad.
Axis mentally prepared us before

People still feeling bad bcoz somewhere everyone was hoping that PDF is fake 😆

 

[CC-Muncher]

Customer care be like next day: I'm just Joking

I talked with customer care. They said that there would be a new milestone benefit from Sept 1. On 1.5 lakh spend we will get 26000 ER.

 

[hariselio]

So what is the best card now for the people who spends every month around 1L and who is not into travels/miles?

 

[CMGCMG is verified member.]

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.

Its 60 RPs. Not 60X

 

[CC-Muncher]

So what is the best card now for the people who spends every month around 1L and who is not into travels/miles?

Infinia or burgandy plus magnus

 

[gurbina]

At the very least they should have left Gyftr and GeabDeals alone with this devaluation, but doing both it's a no go for me.
Magnus goes onto the drawer and just used for PP and M&G until renewal time.

 

[mr_vasanth]

devaluation wont happen now. Axis will just freeze, recover and block all the gamers of points (its a game).

Genuine users who have the income to do 1 lac spend normally can enjoy the ride

and axis has other ideas !

 

[akf]

good choice. let me tell you what you can do with the fees of magnus. get sbi vistara prime, axis Vistara signature and idfc Vistara. you get 3 tickets, 4 upgrade vouchers, CV points, and on spending 4.5L (1.5L on each 3 cards) 3 extra tickets.
all these 3 cards will cost you around 13k with gst. even if you don't spend anything you get 3 premium economy tickets.

All the eggs in one basket where value is derived from Vistara, which itself will go through some sort of change next year.

 

[Walter White]

Then why these a*s h*l*s didn't mention in the PDF? They are lying just to avoid cancellations

Lol, mujhe bhi Amitabh Chaudhary call pe bol rha tha 🇷🇺 denge har 6969 spends par agar aap card close nhi karvate. Maine bhi use kaha writing me bhej. Abhi tak uska mail nhi aaya. 😛

 

[rj_arora]

CV vs Accor?

 

[punpher]

Jinko worth lag rha apna apna dekhlo

Credit https://twitter.com/credofly

But all spends has been assumed at 1x. I have almost 50% of spends via gyftr. Which is 2x to 5x.(lot of medical expenses via Apollo as father is having chronic desease and multiple members have diabetes). In that case if I spend around 1.5 to 2.5l akh per month I will be still getting great return.

 

[rj_arora]

All the eggs in one basket where value is derived from Vistara, which itself will go through some sort of change next year.

You mean Vistara CV will get devalued?

 

[Walter White]

You mean Vistara CV will get devalued?

Vistara itself has an uncertain future at this point of time

 

[starstruck]

But all spends has been assumed at 1x. I have almost 50% of spends via gyftr. Which is 2x to 5x.(lot of medical expenses via Apollo as father is having chronic desease and multiple members have diabetes). In that case if I spend around 1.5 to 2.5l akh per month I will be still getting great return.

500,000 ER limit per year whether 5:4 or 5:2

 

[R!ppEr]

You mean Vistara CV will get devalued?

once AI is merged with Vistara no one knows whats gonna happen

 

[hungryPanda]

once AI is merged with Vistara no one knows whats gonna happen

I really doubt that happening.

Merger will happen by 2024 March.

Considering they went ahead with IDFC Vistara Card and official mail of existing cv to be considered so its a good option to transfer.

 

[rahulrai]

This is my first post on TechnoFino.

I'll be getting Magnus by tomorrow.

Is it even worth it now? I shop on Amazon mostly, and it now has 2x Gyftr rate, that translates to around ~4.8% return in miles. Even Amazon pay ICICI credit card gives 5% flat on shopping through Amazon.
Even HDFC Millennia now looks better than this. They could've kept at least 3x for sites like Amazon and Flipkart in Gyftr.

 

[coinhunter]

good choice. let me tell you what you can do with the fees of magnus. get sbi vistara prime, axis Vistara signature and idfc Vistara. you get 3 tickets, 4 upgrade vouchers, CV points, and on spending 4.5L (1.5L on each 3 cards) 3 extra tickets.
all these 3 cards will cost you around 13k with gst. even if you don't spend anything you get 3 premium economy tickets.

With Vistara, you will be limited with Vistara only compared with Magnus which you can transfer points to partner FFPs.

 

[PavanPavan is verified member.]

This is my first post on TechnoFino.

I'll be getting Magnus by tomorrow.

Is it even worth it now? I shop on Amazon mostly, and it now has 2x Gyftr rate, that translates to around ~4.8% return in miles. Even Amazon pay ICICI credit card gives 5% flat on shopping through Amazon.
Even HDFC Millennia now looks better than this. They could've kept at least 3x for sites like Amazon and Flipkart in Gyftr.

One word answer "Cancel"

 

[PrabhuP]

This is my first post on TechnoFino.

I'll be getting Magnus by tomorrow.

Is it even worth it now? I shop on Amazon mostly, and it now has 2x Gyftr rate, that translates to around ~4.8% return in miles. Even Amazon pay ICICI credit card gives 5% flat on shopping through Amazon.
Even HDFC Millennia now looks better than this. They could've kept at least 3x for sites like Amazon and Flipkart in Gyftr.

i Would suggest dont accept/Activate the card.