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Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

bugmenot

TF Legend
-- 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
 

Attachments

Last edited:
Hi, want to hit 1L one last time this month before devaluation. One question: If I pay car insurance with my axis magnus card, will it be counted towards milestone benefit. Or if someone can direct me towards official list of exclusions for milestone benefit, that would be great.
 
No, not all. I have CC spend of ~3L per month. Did the maths, nowhere Magnus is attractive and don't see any rationale.

Further, will never keep all eggs in one basket.
I have similar monthly spends with the distinction that I am burgundy customer already. I feel the reward rate to be 10% post Sep and hence beneficial
 
No, not all. I have CC spend of ~3L per month. Did the maths, nowhere Magnus is attractive and don't see any rationale.

Further, will never keep all eggs in one basket.
Same boat, 3L-4L and I'd rather use other cards and even low variants from Axis itself or other banks.

PP being excluded from nearly all the domestic major airports makes the 8 guests only usable for international usage.

M&G was most useful when used internationally, it almost made no sense and offered not much advantages when used domestically.

With the renewal benefit gone, the higher fees and increasing the annual fee waiver from 15L to 25L made it an easy pass now if you hold any other premium card.

Even if it was my only card (and nearly almost is) I already shifted my expenses to these cards. I'll just wait for my ER points, milk the benefits until renewal and close it.
 
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How? Pls do the maths and see .
You may have spends under utility/govt category. So u won't get any points on them.

But 3L on normal shopping category is indeed around 10%.

12 points or 4.8% till 1.5L and 35 points or 14% beyond that. So that comes to 9.4%. Add some more points for Gyftr/GD/Traveledge categories also. And maybe multiply by 1.8 for Accor. (I don't really value these at this rate, but a true hni will value it).

This 9.4% will move closer to 14% as spends go higher and higher.
 
You may have spends under utility/govt category. So u won't get any points on them.

But 3L on normal shopping category is indeed around 10%.

12 points or 4.8% till 1.5L and 35 points or 14% beyond that. So that comes to 9.4%. Add some more points for Gyftr/GD/Traveledge categories also. And maybe multiply by 1.8 for Accor. (I don't really value these at this rate, but a true hni will value it).

This 9.4% will move closer to 14% as spends go higher and higher.
How did you come up with 14% though? That would require spending greater than 15L/month. That's a small fraction of people or it would be a one time thing in a year.
 
Yaar yeh mahine ka kitna kharcha hoo gaya wali math karne ka koi simple way hai kya?
My billing cycle is not aligned with the month (assuming sabhi ka Aisa hoga) so it's like history mein jaake ek ek number add karo, is there a better way?
 
I guess I will keep the card as I got it FYF in Feb 2023 and have already met the 15L renewal fee waiver criteria. I spend about 2-3L per month and 75% of the expenditure is on travel edge hence I believe that 3L monthly spend I will still see a return of 20-25% as I have a burgundy account. Is my math correct or am I wrong here?
 
I guess I will keep the card as I got it FYF in Feb 2023 and have already met the 15L renewal fee waiver criteria. I spend about 2-3L per month and 75% of the expenditure is on travel edge hence I believe that 3L monthly spend I will still see a return of 20-25% as I have a burgundy account. Is my math correct or am I wrong here?
Read last few comments in this thread. Realistic return will range from 10-15% depending how you value an ER
 
I guess I will keep the card as I got it FYF in Feb 2023 and have already met the 15L renewal fee waiver criteria. I spend about 2-3L per month and 75% of the expenditure is on travel edge hence I believe that 3L monthly spend I will still see a return of 20-25% as I have a burgundy account. Is my math correct or am I wrong here?
Read last few comments in this thread. Realistic return will range from 10-15% depending how you value an ER
TravelEdge gives 5X up to 2L and ~3x after 2L. So yes, if solely talking about travel, then you can yield 24% upto 2L.
 
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