• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

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

Apply For Lifetime Free IDFC First Credit Card
bugmenot

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:
Apply For LTF AU LIT Credit Card
Sort by date Sort by votes
Unless you don't hold Infinia or similar,
If someone has Magnus, I don't see any point in downgrading it to Atlas.

Even with devaluation (without Burgundy) Magnus still provides a better base reward, better accelerated reward and far better non-spend-based reward for the difference of 7.5k.
 
Upvote 0 Downvote
One thing i learned that with axis is very flexible.when it launched Magnus there was not milestone reward of 25000 and 5:4 transfer ratio and partners.

Axis launched these features later to gain more customers and removed it when it has gone out of hand. tomorrow if many people cancel it then axis will again come up with something to make this card attractive again.so the cycle will continue.
 
Apply For LTF HDFC Swiggy Credit Card
Upvote 0 Downvote
MilesMax said:
Yes. If you are spending 2L on Travel with Magnus, TravelEdge is probably the way to go.
Click to expand...
No, its not. Its always preferred, that Hotel bills are not paid in advance through Traveledge, rather settled at the time of checkout. And, I have learnt a hard lesson in my life, always book directly.. be it Hotel or Airlines, and always have flexible booking that I cancel without any penalty.
 
Upvote 0 Downvote
neogen said:
Sir jee, that 5:4 is a temp carrot 🥕 🥕 🤣🤣🤣not the burgundy. Burgundy is super easy to get. 🍅 🍅 🍅
Click to expand...
Everything is temporary only. After 100 years, even you or I won't be there🤣.

We can only discuss and plan for what is disclosed already. Rest is just speculation. And will again have to plan and see if there is charges in future. No point in taking action in advance based on something which is not yet told.
 
Upvote 0 Downvote
CARDBITRAGE said:
TravelEdge gives 5X up to 2L and ~3x after 2L. So yes, if solely talking about travel, then you can yield 24% upto 2L.
Click to expand...
As per my experience the tcikets were always more expensive than on Smartbuy. Last2 time I booked fligt tickets I tried on Traveledge so that I can easily reach 100K spends I had to book on Smartbuy. This may be because Smartbuy has 3-4 Travel Partners while Travelodge has only one. One can even check now.. Traveledge is useless
 
Upvote 0 Downvote
Harry1 said:
Everything is temporary only. After 100 years, even you or I won't be there🤣.

We can only discuss and plan for what is disclosed already. Rest is just speculation. And will again have to plan and see if there is charges in future. No point in taking action in advance based on something which is not yet told.
Click to expand...
Now you got the point, finally. Phew 🍿 🎥
 
Upvote 0 Downvote
neogen said:
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.
Click to expand...
How is this not attractive ? (For high spenders)
You are going to get 12/200 for 1.5 and 35/200 for next 1.5 every month. That is close to 12% in ER and approx 10% return wehn converted to miles (if you are burgundy)
Now why should you get burgundy. If you put 10L in saving you lose approx 20-30k per year . You are getting 4.32lakh+ ER points which can be converted to around 3.45 lakh FFP. Considering 1 rs as fair value you are getting approx 3.2 lakh which is 9% net return. If you use them on accor and FFP 50-50 , your return rises to 12.5%.

And we have not even considered travel edge here.

(Post burgundy devaluation may be not)
 
Upvote 0 Downvote
Krishnaraju said:
As per my experience the tcikets were always more expensive than on Smartbuy. Last2 time I booked fligt tickets I tried on Traveledge so that I can easily reach 100K spends I had to book on Smartbuy. This may be because Smartbuy has 3-4 Travel Partners while Travelodge has only one. One can even check now.. Traveledge is useless
Click to expand...
Without enough data points it's just a feel. 100-200 odd rs. On a ticket worth 10k is not going to mean much if it takes my returns from 4.8% to 24% , or will it ? (Yes infinia is there but we are restricted with tickets worth some 56k in a day over there for 16% return)
 
Upvote 0 Downvote
rohitb said:
How is this not attractive ? (For high spenders)
You are going to get 12/200 for 1.5 and 35/200 for next 1.5 every month. That is close to 12% in ER and approx 10% return wehn converted to miles (if you are burgundy)
Now why should you get burgundy. If you put 10L in saving you lose approx 20-30k per year . You are getting 4.32lakh+ ER points which can be converted to around 3.45 lakh FFP. Considering 1 rs as fair value you are getting approx 3.2 lakh which is 9% net return. If you use them on accor and FFP 50-50 , your return rises to 12.5%.

And we have not even considered travel edge here.

(Post burgundy devaluation may be not)
Click to expand...
Too many ifs.

keeping it super simple, Magnus is dead now. Keep the card till next renewal.
 
Upvote 0 Downvote
For all those who are making calculations based on Burgundy accounts, you are betting on the moon. Axis Bank cannot be trusted. They might be cruel with their customers but they are predictable.

It is very clear that 5:4 ratio was not sustainable for Magnus. If so why are they offering the same for Burgundy now? Just like how they wanted high spenders to take Magnus cards back then, now they want to lure super high spenders to open Burgundy accounts. So they have only transferred the 5:4 bait from Magnus to Burgundy. As soon as enough customers have fallen for the trap they will clam it shut. "Oh no 5:4 is not sustainable, here, 5:2 and a jar of cookies if you spend more than 3L a month. And since you are ultra premium customer for us, we are giving you the opportunity to renew the card at 25k!"

The end of the story is that those who trust Axis Bank and their grandiose promises will always be left with egg on their face and holding the short end of the stick.

It's the same old bait and switch. It will be good for you if you don't fall for it.
 
Last edited:
Upvote 0 Downvote
rogerthat said:
For all those who are making calculations based on Burgundy accounts, you are betting on the moon. Axis Bank cannot be trusted. They might be cruel with their customers but they are predictable.

It is very clear that 5:4 ratio was not sustainable for Magnus. If So why are they offering it for Burgundy now? At this point of time they want to lure super high spenders to open Burgundy accounts. So they have only transferred the 5:4 bait from Magnus to Burgundy. As soon as enough customers have fallen for the trap they will clam it shut. "Oh no 5:4 is not sustainable, here, 5:2 and a jar of cookies if you spend more than 3L a month. And since you are ultra premium customer for us, we are giving you the opportunity to renew the card at 25k!"

The end of the story is that those who trust Axis Bank and their grandiose promises will always be left with egg on their face and holding the short end of the stick.

It's the same old bait and switch. It will be good for you if you don't fall for it.
Click to expand...
Count your blessings while you can 🙂
 
Upvote 0 Downvote
rogerthat said:
For all those who are making calculations based on Burgundy accounts, you are betting on the moon. Axis Bank cannot be trusted. They might be cruel with their customers but they are predictable.

It is very clear that 5:4 ratio was not sustainable for Magnus. If So why are they offering it for Burgundy now? At this point of time they want to lure super high spenders to open Burgundy accounts. So they have only transferred the 5:4 bait from Magnus to Burgundy. As soon as enough customers have fallen for the trap they will clam it shut. "Oh no 5:4 is not sustainable, here, 5:2 and a jar of cookies if you spend more than 3L a month. And since you are ultra premium customer for us, we are giving you the opportunity to renew the card at 25k!"

The end of the story is that those who trust Axis Bank and their grandiose promises will always be left with egg on their face and holding the short end of the stick.

It's the same old bait and switch. It will be good for you if you don't fall for it.
Click to expand...
Bang on, and you have summed it very well.

A point, if I may add or correct, Axis cannot to be trusted because they are fools and don't know how to run the business. They are not predictable for their business acumen or shrewdness, rather they are un-predictable with their idiotic moves and making a simple thing super complicated.
 
Upvote 0 Downvote
rohitb said:
Without enough data points it's just a feel. 100-200 odd rs. On a ticket worth 10k is not going to mean much if it takes my returns from 4.8% to 24% , or will it ? (Yes infinia is there but we are restricted with tickets worth some 56k in a day over there for 16% return)
Click to expand...
Its based on actual experience on not excel sheet calculations. Also a person who spend 3 lakhs on one credit card monthly will definitely be eligible for Infinia and most likely will not have time to calculate on these petty devaluations etc 🙂
 
Upvote 0 Downvote
You must log in or register to reply here.

Similar threads

TechnoFino
  • Sticky
  • Question Question
Wiki Axis Bank Brutal Devaluation of Atlas/Reserve/M4B/Vistara/Samsung/Flipkart/Ace/Airtel/Myzone/IOCL & Other Credit Cards
Replies
2K
Views
89K
jeevanreddy58
J
sleepysurya
  • Question Question
Axis Devaluation w.e.f September 1st 2023 - Links for different cards
Replies
4
Views
2K
Shrinit Padwal
Shrinit Padwal
Strange
  • Question Question
Devaluation IndusInd Bank credit cards' reward points devaluation w.e.f 1st April 2025,
Replies
33
Views
1K
Gau₹av
Gau₹av
captaintorchtm
  • Question Question
Axis - Multiple cards devaluation thread. (Reserve, Select, FK, Privilege, myzone)
Replies
124
Views
14K
bugmenot
bugmenot
bugmenot
  • Question Question
No CV points and milestone benefits on rent payment/wallet load using Axis Bank Vistara Credit Cards w.e.f 1st June 2023
Replies
28
Views
5K
drsel
drsel
Back
Top