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

 

[Sharjeelshaikh]

changes in effect from 1st september, complete the monthly milestone of july and get the 25k points by 10th august and call it the end of the card for me .... 25k for the months of may & june will be credit by the end of july ....
I feel the devaluation has protected the previous customers ....

Bang on

 

[thanix]

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.

Sorry to hear. This is the classic case of 'dead on arrival' in cards if you are looking at air miles and paid card.

 

[thanix]

So the Twitter trending and change.org petition didn't worked?? Sad!!!

 

[eatpepsi]

Sorry to hear. This is the classic case of 'dead on arrival' in cards if you are looking at air miles and paid card.

complete this months milestone and get the points early next month, take the airmiles and then close the card whenever you feel like through out the year ....

 

[S.S.]

Haan sare log jo technofino ke sahare itna rp leeya hai, sab sumanta @TechnoFino & @RewardsAlert ke saath Thailand mein meet and greet karna chahiye. To say final good bye to magnus.

Phir agar mann kare to ek saath milke magnus jala ke video daal denge youtube pe. 😀

 

[Harry13]

Accor is best. The expiry of all accumulated points keeps forwarding by a year even by small amounts of addition of Accor points.

In addition to Magnus, I have some 50k points from in HDFC Regalia, 50k in an SBI Card. Can they all be transferred to the same Accor account?
Does Accor have good airline partners for domestic travels?
If not, can you suggest some programs that have good domestic travel partners?

 

[eatpepsi]

So the Twitter trending and change.org petition didn't worked?? Sad!!!

they did, they protected the existing customers and are giving the accelerated rewards points befor the miles transfer devaluation hits ... so not so bad for present users.... but future is not so great ...

 

[theneerex]

What is the income criteria for Infinia now? Does anyone know?

 

[aloha12d]

BAD LUCK: Quick question. Correct me if I am wrong?

I activated my card Just Today Morning.

Intention: I wish to get to the monthly milsetone of 1 lakhs spend

Context: A friend is buying a scooter(TVS Jupiter) worth 88k, The Sales Team said, they would levy 2% charge(POS) if I pay using CC
However even if I pay the 2% Charge, and complete the 1L milestone by spending another 12k,Wouldn't I still be in profit considering my return rate is 6%?

 

[Vickymaster1010]

If i hit 1 lkh in August will i be able to redeem it 5:4 or it's going to be 5:2?

 

[starstruck]

Usually such big payments are government payments which will not be rewarded at all from 1st September. For travel, they have added maximum limit of 2 lakhs in Travel edge for 5X points. So they have literally cut all the corners.

2 lakhs is per month. You can treat Magnus as a flight booking credit card.

“Earn 60 EDGE Reward Points for every INR 200 spent on Travel Edge portal, up to cumulative transactions of INR 2,00,000 per month”

 

[hakunamatata]

What is the income criteria for Infinia now? Does anyone know?

42L pa

 

[Sharjeelshaikh]

If i hit 1 lkh in August will i be able to redeem it 5:4 or it's going to be 5:2?

No

 

[CMGCMG is verified member.]

If i hit 1 lkh in August will i be able to redeem it 5:4 or it's going to be 5:2?

Do you have burgundy account?

 

[thanix]

complete this months milestone and get the points early next month, take the airmiles and then close the card whenever you feel like through out the year ....

And pray to god that transfer goes smoothly. If it is struck or fails, refer the complaint threads about the refund of points timeline 😕

It all depends on the risk taking ability and against the fee paid or free.

 

[vina]

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.

whaaaatttt?

 

[Deleted member 11974]

somebody share the pno email id mere er points credit nahi kare hai axis bank ne
sidha wahi query raise karunga

 

[aloha12d]

I hope everyone who gets Magnus after today thinks twice before activating it

 

[vina]

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

they are not lying to avoid cancellations

the way this looks, they want you to cancel

they will now link everything nice to having a Burgundy balance

 

[vina]

Important point:

Till when will they transfer in 5:4 ratio? Not clearly mentioned in the PDF

they are letting you do it right now

my guess is they will let you do it till 1st September