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

 

[S.S.]

I had requested for upgrading my regalia to dcb and got rejected.
I have 800+ cibil score, 2lakh salary, good spend in hdfc (till beginning of the year before getting Magnus). 10 lakh limit on regalia. I wonder what I should to get DCB.

Any suggestions people? If not which card should I switch too from Magnus and Reserve. Can’t find anything interesting!! I spend about a lakh per month on credit cards. No govt spends. And utilities are done via amazon pay.

Other main cards I am using are Amex MRCC and HDFC TATA neu Infinity for upi.

HDFC wo unemployed ladki ki tarah hai Jo 14 ladkon se baat karti hai phir social media mein poochti hai kisko Haan kahun. Saare bank sale wo ladki ki tarah bewafa hein.

 

[basant]

Rumoured news created 100 pages last time. Why people tired this time?
Acceptance , prepared mentally.

 

[thedator]

My head has been singing

Accha chalta hoon
Duaaon mein yaad rakhna
Mere zikr ka zubaan pe swaad rakhna

 

[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.