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

 

[Zarieal]

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

I did the same. Bought gold with 10k voucher+ remaining card payment for 2g

 

[ARV]

buy gold and sell/keep

You cant buy gold cone, its patched. You can try silver coin but value is less

 

[Zarieal]

You cant buy gold cone, its patched. You can try silver coin but value is less

Oh is it.. I did in Sept 22 when I got the card. Didn't check recently

 

[CMGCMG is verified member.]

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

You can try for FYF.

 

[aloha12d]

Is it Worth paying for a 1 lakh scooter (TVS Jupiter) where I end up paying 2% POS Fees.
I hope the card swipe would be counted? This way, I will still be able to qualify for the milestone?

 

[Googix]

Just received April milestone and a bunch of bonus rewards. Honestly i'm liking this update from Axis. Sure there is devaluation atleast it didn't impact previous expenses

 

[docmaniac]

You cant buy gold cone, its patched. You can try silver coin but value is less

Any other methods now??

 

[thanix]

Any other methods now??

I think people added a small 50 rupees item in cart and used it to purchase gold. Try it out.

 

[Oscar]

Just received April milestone 🥳

 

[faltooAdmi]

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.

I don't think you will get 4 vouchers. Voucher is feature of vistara silver .

So let's say you got sbi vistara prime u will get : 1 pe ticket + 1 voucher (as u will become silver)

Now even if u take axis signature, you would get only 1 pe ticket. No upgrade voucher as u are already a silver member and u already got voucher for that.

Lastly if u apply idfc vistara you will get 1 pe ticket + 1 voucher (feature of idfc card) and no additional voucher as again u are already a silver member.

So effectively it's 3 pe tickets + 2 vouchers if my understanding is correct. Experts may comment or the ones who hold these combination may be able to tell better.

 

[Venky]

Surprise surprise!! Burnol ki jagah Axis ER dera hai, nice. 🙃

 

[rahulsethi]

Trying to cut the magnus into 4 with scissors....
No joy... 🙁
Anyone has any interesting ideas on how to #RIPMagnus?

 

[rogerthat]

Trying to cut the magnus into 4 with scissors....
No joy... 🙁
Anyone has any interesting ideas on how to #RIPMagnus?

Disc cutter. Make a video and tag Axis.

 

[Namans]

They are planning to credit May and Jun milestone by Jul 31. What about April? Have we already got it?

got it today

 

[Vickymaster1010]

Were to transfer may and June milestone benefits best idea?

 

[Anonymous ツ]

Solution Please.

 

[gurbina]

Funny, they think they improved their devaluation.

Reality: they made it way worse. The only difference is that now you'll salvage your milestone points before devaluation.

0. NEW-Milestone is GONE.
1. NEW-They devalued Gyftr and GeabDeals silently by 50-80% on useful brands. Also limited amounts you can buy vouchers and maxed Grab Deals from 10k monthly limit to 5k. This is new
2. NEW-Increases yearly fee to 12k++.
3. NEW-They've gone stupid with the annual fee waiver. 25L now.
4. NEW-Voucher on renewal GONE.
5. NEW-Decreased ER earnings up to 1.5L
6. Priority Pass useless within India, still can use your Magnus card to enter where available and accepted opposed to nearly any lounge under PP
7. ER transfer is now 5:2
8. While they increased ER earnings after 1.5L remember they are excluding a LOT of transactions now

Honestly before I thought it was bad but I'd still keep the card. Now I'm 1000% sure I will NOT use it. I'll shift my expenses and just use Magnus benefits like M&G and PP until it's time for renewal.

I'm always amazed how sometimes you think they can't get any dumber or sillier, but they can and they will! For Reserve they absolutely butchered it! Now it makes 0 sense to get that card.
As a matter of fact people holding Magnus and Reserve will cancel Reserve so they can avail the 5:4 benefit if they have Burgundy account

At least they've made it easier for customers to move out of Axis. Even their temporary offer is hilarious specially for Reserve holders where they need to keep 5Cr NRV for 5:4 TEMPORARILY. I almost fell off my chair laughing

 

[makman]

If my card started on 1st March when should I send cancel request to not get charged renewal fees?

 

[FinGuru]

Just received April milestone and a bunch of bonus rewards. Honestly i'm liking this update from Axis. Sure there is devaluation atleast it didn't impact previous expenses

Can you confirm if you received all the giftedge points that were due to be received in July?

 

[Deleted member 9785]

People who are opening burgundy accounts to get a 5:4 transfer rate, please note that the special transfer rate (5:4) will be available for a limited time only. After that, it will change to 5:2 - SM