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

 

[ADITYA1904]

Ye

No
The Axis bank Edge Rewards portal is linked under all logins like app, web login and cust care everywhere you can not access the Edge Rewards until the freeze is released by Axis bank back end team
So the only option is to share them those utilities bill copy and wait for their clearance to make use of the Edge Rewards
U can attach the copies here

Axis Bank

application.axisbank.co.in

yes i will, anyone facing similar situations?

 

[bigbrain]

Just received Reserve. Does it make sense to activate it? FYI I have a foreign trip planned in August.

I think it is still useful. You can concert the 50k points to miles. You get 2 nights at Accor hotel. You can use the airport pickup for your trips.

Next year it is not that useful.

 

[yogeshthube]

All gates are closing now. Thank god it lasted while the milestones were applicable. Will complete next month’s milestone by paying advance tax.

i thought government spends are excluded for milestone and ERP in the devaluation

 

[004archit]

i thought government spends are excluded for milestone and ERP in the devaluation

Yes but after 1 September

 

[Warlock27]

here you go

Now that PayZapp+RG is patched, any other sources from where we can pay rent without any extra charges?

 

[satishg85]

Which other cards do you hold? What is the spend amount you are expecting to make in your trip?

Magnus, Vistara Infinite, Amex Plat Travel and other shitty cc (Icici coral, Indusind Pinnacle etc). Expected expense - Roughly 4-5k Euros.

 

[bigbrain]

Magnus, Vistara Infinite, Amex Plat Travel and other shitty cc (Icici coral, Indusind Pinnacle etc). Expected expense - Roughly 4-5k Euros.

Remember that Amex charges double conversion charges. Euro to USD turn to INR. I think Amex plat also gives twice the reward rate for Forex. But not sure.

With reserve You could still get 30 ER for every ₹200 and if the points are credited before 31st august you can cover at 5:4.

I am also travelling in August, and again Sept to Nov. So I also searching for best card.

 

[magnusfan]

First post on the forum…Imo, the 147 pages speaks of the value Magnus carried for each one of us..the +30k (or +24k transfer points) each month seems like a reduction in income now 🙂

I think Axis upgraded the cards:

• Magnus for Burgundy accounts
• Reserve for Burgundy Private

I think my play will be as follows:

• Amex Platinum Travel for 4L spends p.a.: ~12% via Marriott points
• Magnus for ~2.25 Lakhs spends per month: To sustain the ~25k monthly points
• Infinia for the vouchers

With this, I think I can sustain at about 13% returns…

Any other views / combination will be highly welcomed!

 

[rohitnsync]

Now that PayZapp+RG is patched, any other sources from where we can pay rent without any extra charges?

Nope

 

[navonline7]

For Magnus, spends done on government institutions and utilities MCCs are effective form 1st September, right? I can still make NPS payment in this month and be eligible for the July monthly milestone?

 

[Cardmarvel]

Hope everyone had a good sleep. We

For Magnus, spends done on government institutions and utilities MCCs are effective form 1st September, right? I can still make NPS payment in this month and be eligible for the July monthly milestone?
View attachment 23486

yes

 

[magnusfan]

For Magnus, spends done on government institutions and utilities MCCs are effective form 1st September, right? I can still make NPS payment in this month and be eligible for the July monthly milestone?
View attachment 23486

The pdf received via SMS states at the top: Effective from 1st Sep

 

[no_name]

quick question... we are yet to receive official communication from Axis on Flipkart devaluation (I know there is a pdf on the website) but no communication has been circulated yet, nor the pdf can be searched on the Axis website (we can open it only via the link).
Will the 12th Aug deadline still hold good?

 

[kalratush]

I just had a word with my Axis RM to inquire about this devaluation, he says its true Axis emails/SMS have been sent out but also says the devaluation isn't confirmed yet and they are still considering changes. Although personally I don't think a bank should go back on its word after making a document official, but its Axis so we should take everything with a pinch of salt.

 

[phagocyte536]

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 😂

Even if that's true, i doubt the points guy knows enough maths to compute your points correctly.

 

[Googix]

here you go

Thanks for sharing. Can someone confirm NPS 50k payment counts for milestone?

 

[WhoU]

Thanks for sharing. Can someone confirm NPS 50k payment counts for milestone?

Yes it does

 

[neogen]

I just had a word with my Axis RM to inquire about this devaluation, he says its true Axis emails/SMS have been sent out but also says the devaluation isn't confirmed yet and they are still considering changes. Although personally I don't think a bank should go back on its word after making a document official, but its Axis so we should take everything with a pinch of salt.

Your RM is in denial mode given his sales mindset

 

[kalratush]

Your RM is in denial mode given his sales mindset

Hahah maybe, that seems more likely

 

[pranavcool]

LTF hai toh rakh lo for occasional bank offers.

no for swiggy its not official right?