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

 

[Hisoka]

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

Ye toh aap Alto se nikle aur Platina pe baith gaye

 

[VGisHere]

Feels good..all points are converted in time....all set for good times....ahead

just wondering, how much did u spend in total to get 20L ERPs! 🤯

 

[Divya2508]

My renewal date is 25 Aug of this year
Will I get renewal voucher benifit or not ?

 

[Theo]

just wondering, how much did u spend in total to get 20L ERPs! 🤯

Two things:

• I have a good credit card spend
• I learnt how to spend in the best way very early thanks to Infinia and DCB

 

[sanju8486]

My renewal date is 25 Aug of this year
Will I get renewal voucher benifit or not ?

You should get it..
However I would advice you to email axis team and confirm the same in writting..

Good thing is still you have one month.. axis team will reply in 2-3 days..

 

[gurbina]

just wondering, how much did u spend in total to get 20L ERPs! 🤯

Maybe just a future date with IT and not that much money, but more than worth the points.
In a year with normal use I managed to score 700k just with personal use, with some will and dedication definitely doable to get there even for someone who isn't rotating money but with deep pockets or a good strategy.

 

[sanju8486]

Two things:

• I have a good credit card spend
• I learnt how to spend in the best way very early thanks to Infinia and

Two things:

• I have a good credit card spend
• I learnt how to spend in the best way very early thanks to Infinia and DCB

Good bole to ?
AIS mai kitna aaya ?
Income expense justify ho rha hoga aapka to.. infinia b hai

 

[Theo]

Good bole to ?
AIS mai kitna aaya ?
Income expense justify ho rha hoga aapka to.. infinia b hai

Does not matter...and reported as well in AIS etc.

 

[sanju8486]

O

Maybe just a future date with IT and not that much money, but more than worth the points.
In a year with normal use I managed to score 700k just with personal use, with some will and dedication definitely doable to get there even for someone who isn't rotating money but with deep pockets or a good strategy.

I could reap only 300k in a year .

 

[eatpepsi]

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%?

yes you can do that, get this months milestone and call it a day ...

 

[eatpepsi]

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

5:2

 

[eatpepsi]

I thought they are giving the milestone benefits only before devaluation. Are they giving the Gyft edge accelerated reward points also before the 90 day and 120 days? I didn't know it.

sorry, yes you are right only milestone points are mentioned, nothing about the accel rp..

 

[rohit3887]

any clarity on 2x/3x/5x vouchers after 1.5L spend? say i reach 1.5l 4-5 times a year ..i think it is good to accumulate apay/zomato/asv/luxe vouchers after that...

 

[typhoon]

Two things:

• I have a good credit card spend
• I learnt how to spend in the best way very early thanks to Infinia and DCB

#Reselling.

 

[mr_vasanth]

That cannot be true. Select right state, city and dealer and you will see the right ex-showroom price.

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

 

[Theo]

#Reselling.

well i dont need to prove anything

 

[hungryPanda]

well i dont need to prove anything

High Spender , from the circle i can assume anything above 50L+ minimum of card spends without multiplier itself.

 

[vina]

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

this is completely incorrect

 

[vina]

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

the only explanation I can think of - they want to bump members off without saying as much

I think they will release some new "Burgundy Magnus" in September - I'll wait for that

 

[vina]

😄 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 👍🏼.

have a look at StanChart Ultimate; along with ICICI Amazon