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

---

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

---

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

---

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

---

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

 

[hungryPanda]

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

Wrong Info , its not mentioned anywhere.

If that's the case people will close the account

 

[Deleted member 9785]

Wrong Info , its not mentioned anywhere.

If that's the case people will close the account

 

[Deleted member 11974]

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. 🤣

100% agreed

 

[neogen]

Kya Hua 🎥 🍿

 

[captaintorchtm]

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.

Verified by people who hold all these 3 cards, you get 1 upgrade voucher for each sbi and axis. 2 in case of idfc.

 

[rogerthat]

Two minutes silence to all those people rushing to open Burgundy accounts depositing 10L believing Axis grand statements and promises 😂
☠️

 

[abhishek0882]

Edit: Kindly ignore this message. This is for last month (June) when I paid through CRED. Sorry for creating any confusion.

This was the first month I used Payzapp+Redgirraffe to pay my rent using Magnus. I had heard that this method was treated as insurance. Have already received the regular ER on the transaction. I saw that Axis has charged the 1%+GST on rent payment. Does that mean it is booked under rent and not insurance MCC? In that case it will not be counted towards monthly milestone for this month?

 

[Anonymous ツ]

Koi Iska Solution bhi bata do guys. Sab log bas Gyaan baantne mai lage hai

 

[gurbina]

This was the first month I used Payzapp+Redgirraffe to pay my rent using Magnus. I had heard that this method was treated as insurance. Have already received the regular ER on the transaction. I saw that Axis has charged the 1%+GST on rent payment. Does that mean it is booked under rent and not insurance MCC? In that case it will not be counted towards monthly milestone for this month?

Thanks for the heads up, spared me from using RG.

 

[Googix]

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

I received April Gyftr points half last month and remaining all this month. Only grabdeals pending for April

 

[hungryPanda]

Koi Iska Solution bhi bata do guys. Sab log bas Gyaan baantne mai lage hai

View attachment 23413

seems to be down for everyone..

 

[Reward Hunter]

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

Yes

 

[Walter White]

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.

You'll get 2 silver upgrade vouchers. I received one with Axis and other with SBI.

 

[SMGROW]

This was the first month I used Payzapp+Redgirraffe to pay my rent using Magnus. I had heard that this method was treated as insurance. Have already received the regular ER on the transaction. I saw that Axis has charged the 1%+GST on rent payment. Does that mean it is booked under rent and not insurance MCC? In that case it will not be counted towards monthly milestone for this month?

Likewise - Even I have used Payzapp+Redgirraffe to pay rent using Magnus for the first time this month. The transaction is showing as insurance in the monthly statement and no GST is charged.

 

[credit_debit]

If someone wants target based benefits, ATLAS can be an option. Of course it will never match Magnus, and was used as a second card after monthly milestone of 1L from Magnus, it can be decent alternative for miles.

 

[chasni]

This was the first month I used Payzapp+Redgirraffe to pay my rent using Magnus. I had heard that this method was treated as insurance. Have already received the regular ER on the transaction. I saw that Axis has charged the 1%+GST on rent payment. Does that mean it is booked under rent and not insurance MCC? In that case it will not be counted towards monthly milestone for this month?

When did you make the rent payment? I made it on 2nd Jul but never got charged 1%+GST.

 

[captaintorchtm]

This was the first month I used Payzapp+Redgirraffe to pay my rent using Magnus. I had heard that this method was treated as insurance. Have already received the regular ER on the transaction. I saw that Axis has charged the 1%+GST on rent payment. Does that mean it is booked under rent and not insurance MCC? In that case it will not be counted towards monthly milestone for this month?

Yes. It started counting as rent payment since couple of days. Will not count.

 

[Deleted member 9785]

convert in axis vistara cards. more value for the money

 

[VijayflyRaven]

Next few days I think we will see lot of transfer failures. Everyone is rushing to cash the points and I suspect that this redemption process is not automated.

 

[chasni]

Yes. It started counting as rent payment since couple of days. Will not count.

Looks like they have fixed all the loop holes too.