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

 

[ishanmontella]

Hypothetically, if I spend 2L in a month, how much ER I would be getting? 35000 or 9K+ 8.75K?

9k+8.75k

 

[neogen]

9k+8.75k

Then this Magnus has become an utter useless card.

I got this in Feb23 end, for each of the month Mar, Apr, May, June and Jul, I have achieved the milestone spend. Got ER for Mar and Apr. Hopefully, should get for remaining 3 months as well. Thereafter, it's natural death for Magnus.. Forget about renewing, there is no point in spending even a paisa on this card anymore.

Back to Infinia.

 

[Walter White]

Hypothetically, if I spend 2L in a month, how much ER I would be getting? 35000 or 9K+ 8.75K?

The thing is, how will you manage to reach that spends without getting flagged. Axis is flagging accounts left, right and center for no reason. And not to forget the long list of exclusions.

 

[neogen]

The thing is, how will you manage to reach that spends without getting flagged. Axis is flagging accounts left, right and center for no reason. And not to forget the long list of exclusions.

My total yearly spend on CC is ~35 L. All are normal, genuine and not even a paisa in the list of exclusions.

 

[sid16]

One key doubt. The TnC said that annual fee waiver will exclude government transactions and utilities. But no mention of the same for monthly milestones. Meaning, if we do government transaction of 1.5 lakhs first and foremost in the month, will everything else after than be rewarded as 35 ER / Rs. 200? That could be interesting, as long as 5:4 continues for Burgundy.

 

[ishanmontella]

Let’s say you cross 1.5 lac in a month. If we go for Giftedge 5x voucher after crossing 1.5 lac. Would the 5x mean 35x5=175 ER on every 200/- spent?
If yes, saare saal ke kharche ek hi mahine mein karne padenge 😂

 

[Deleted member 9785]

increase earnings now ye sab options khatam

 

[sky_walker_rules]

increase earnings now ye sab options khatam

lol,the expression in video thumbnail 🙂

 

[Googix]

Sorry guys, my bad! This was charged last month when I had paid rent via CRED on 11th 'JUNE' and 1%+GST was charged on 18th June, not counted in milestone spend. This month have paid via PZ+RG on 10th and nothing charged as yet.
Sorry for creating any confusion.

Glad you clarified! Was thinking of making some other spends to hit milestone this month

 

[SSMV]

Axis Bank tightens benefits on Axis Magnus and Reserve credit cards

After weeks of rumours, it’s official Axis Bank has made some big changes to these credit cards including raising the fee waiver threshold and lowering the reward point to partner point / air miles conversion ratio. The changes will be effective September 1.

www.moneycontrol.com

 

[yogeshthube]

Glad you clarified! Was thinking of making some other spends to hit milestone this month

i paid rent on the 19 july using RG + payzapp and got charged with rent surcharge with magnus

 

[SuperKnight]

i paid rent on the 19 july using RG + payzapp and got charged with rent surcharge with magnus

and have u got any ERPs

 

[yogeshthube]

and have u got any ERPs

nothing yet

 

[WhoU]

i paid rent on the 19 july using RG + payzapp and got charged with rent surcharge with magnus

Very unlikely. This implies that the age old bug is fixed.

Can you please share some screenshots to justify this?

 

[ADITYA1904]

@Wealth is my birth right! And all members, they temporarily put block on my er account thanks to bhartnxt but they are all genuine transactions and also done all transactions like all lifestyle transactions like hotels, restaurants, travel, medical, entertainment, giftedge giftcards, grocery, supermarkets, utilities, fuel and all…still they block, whenever person didn’t accept payment via card like pos, upi on credit card and only insist pay via normal bank upi, i paid via credit card via bhartnxt so I don’t know what is the problem…never done a business transaction on bhartnxt or any ms or any rotation…i mailed them to unblock lets wait for reply…any suggestions to unblock?

 

[Virgo]

Very unlikely. This implies that the age old bug is fixed.

Can you please share some screenshots to justify this?

I think Payzapp+RG is now fixed. I did a payment for my condo’s maintenance charges yesterday using this route. Though the transaction is yet to be settled, I can the merchant name as PZRENT. Looks like this is now fixed and correctly classified as rent.

 

[Harry1]

Very unlikely. This implies that the age old bug is fixed.

Can you please share some screenshots to justify this?

He won't share🤣. There is too many fake news in this forum. And thankfully there is an "ignore" button to avoid them next time. 100s of people already in my ignore list and still 3-4 gets added daily.

 

[Virgo]

He won't share🤣. There is too many fake news in this forum. And thankfully there is an "ignore" button to avoid them next time. 100s of people already in my ignore list and still 3-4 gets added daily.

I think in this case you need not hit the ignore button. See my post above

 

[WhoU]

He won't share🤣. There is too many fake news in this forum. And thankfully there is an "ignore" button to avoid them next time. 100s of people already in my ignore list and still 3-4 gets added daily.

I didn’t know about this ignore button. Does this remove all that user’s posts/comments for me?

 

[WhoU]

I think Payzapp+RG is now fixed. I did a payment for my condo’s maintenance charges yesterday using this route. Though the transaction is yet to be settled, I can the merchant name as PZRENT. Looks like this is now fixed and correctly classified as rent.

Please let us know if you are charged 1% surcharge on this.