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

 

[aloha12d]

Book TVS jupiter using their TVS online portal. We can pay the full ex-showroom price using credit card without any additional charge. I have bought my scooter using this way just this month using magnus.

Thanks But i Checked the price. It's 3k more when booked online.

 

[NikTravelEnthusiast]

Damn! Axis played us nasty. I might consider not keeping the card with the rewards restructuring. Up to 1.5L, we will be getting a meagre 2.4%! That is close to my average monthly spend. 🙁
And also a big hit from Grabdeal and Gyftr. I feel TravelEdge is next in the line of fire.
No renewal benefit and 25L fee waiver are too much, but it's sort of justified as it is a HNI card. The proposition of opening a Burgandy account seems attractive(for 5:4 conversion), but if you look closely, it is a timebound offer. So it will return to the normal 5:2 when Axis deems it.
PP domestic devaluation took away a lot of value.
Sadly, I must part ways with Axis Magnus after 1 Sep,2023.

Yes. Parting away with Axis for lifetime.

Burgandy offer is also some sort of gimmick they are playing. After some time that will also be taken down.

I don't trust Axis anymore. Such nonsense is not even expected from a school going childrens.

 

[S.S.]

Ye kya ho rah hai.....are koi bol do ye jhooth hai...

 

[Deleted member 11974]

Even when my magnus is downgraded to my zone? Hope that works😃.

if hni cards have 5:2 then other cards will be having much shittier rewards rate

 

[sauravsahoo]

Will rent payment through payzapp earn edge reward points after September 1, 2023 ?

 

[VijayflyRaven]

I am going to ask Axis to upgrade my Magnus to Ace 😂

 

[ARV]

can somebody send pno email id?

pno@axisbank.com

 

[CARDBITRAGE]

All this delay was for nothing. This changed nothing. XD
They will lose everybody now. The leaked deval was much better than this. Axis just took a piss at all of us. 🤣

 

[VijayflyRaven]

Still see 5:4 in text as well as actual transfer in axis app.

This is fake news. Check official ToS in axis.

Travel Edge

Travel Edge

traveledge.axisbank.co.in

 

[R!ppEr]

milestone and accelerated points credited at the right time 😀 boom transfer transfer!

 

[ismail]

i just now removed magnus from my wallet and replaced it with ACE

 

[docmaniac]

Can Anyone suggest the best way to utilise the 10000 Tataclicq Voucher

I am totally confused just recieved the card today

 

[vinrey287]

ER sms have started raining

 

[rahulrai]

Check with HDFC to upgrade to Infinia or DCB. Compare it against Magnus and decide.

😄 Infinia mil raha hota to kya hi baat thi. I don’t meet their salary criteria for Infinia. Further, all my banking relationship is with ICICI (Salary Credits, FDs, Loans etc.), sadly ICICI doesn’t have any good Credit Cards. I don’t even have a savings account in HDFC. Maybe It’s better to use Magnus for the first year as it still can replace all my existing cards even after devaluation (I’ll see if they can waive off renewal fee for next year).
Thanks for the suggestion though 👍🏼.

 

[CMGCMG is verified member.]

Axis credited Magnus milestone bonus for April

 

[deepak7]

If I do LIC payment in July, will it be counted towards 1 lac milestone?

 

[MilesMax]

HDFC gives Infinia for 10L FD

With the FD, will it still have joining and renewal fees or is it FYF or LTF (until the FD is held) ?

 

[Zarieal]

Can Anyone suggest the best way to utilise the 10000 Tataclicq Voucher

I am totally confused just recieved the card today

buy gold and sell/keep

 

[bugmenot]

Yes! So we should expect other cards devaluation also as mentioned in the thread, I request to check @bugmenot

Yeah, as soon as I find, will post it. Updated the first post with reserve devaluation PDF and summary. Thanks for tag 👍

 

[docmaniac]

buy gold and sell/keep

I heard like we can't buy gold using the Tataclicq Voucher. Are you sure?