• 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
hrish88 said:
But isnt magnus better for 1.5L travel spends with travel edge.you will get 60P for 200.

Also after the 1.5L magnus give 35P for 200 on regular spends + 2X/3X on gyfter.
Click to expand...
Nope.

Travel spends not through Traveledge, but direct settlement.

And no gyftr ifs buts etc.

Straightforward spend with no BS or MS.
 
Upvote 0 Downvote
vina said:
what is happening here is that Axis is trying to politely bump off the hoi polloi (no offence against them) who got on board because of the stupidity of Axis itself.
Click to expand...
Exactly, and agree to all your points. Well written - both your posts.

Frankly, Magnus is no longer a desirable or wannabe card. The way they dolled out the card to any tom dick and harry had set the writing on wall.

They tried and are now again trying to become a wannabe HNI card, however, they are nowhere there. Amex and HDFC Infinia are hands down way ahead in terms of their Concierge, customer service, stability, return, peace of mind etc. Infinia gives PP that is completely free to be used on any domestic lounge without a penny charge.

Mangus image has created a bad perception about them as a stable, trustworthy service provider. Their image is damaged beyond reasonable repair. Clearly, they have no CC strategy, earlier reckless Citi card acquisition, now this continued mess of changing TnCs / benefits frequently is utter bullshit. Axis's CC product department it seems have bunch of brainless kids managed by people with no foresight of CC business. That then reflects poorly on their rest of their business including Burgundy Savings Account etc. They have eroded their trust themselves.

However, I do thank Magnus for this mess, its now a good opportunity to reorient and optimize our respective CC portfolio as per their individual needs. I have 35 to 40 L spend on CC every year, and a large chunk of that is with Axis. Around 15-18 L of that spend is on travel. Now on, I am going to keep it super simple:
Atlas for Travel spend only. Not even paisa to be spent on this CC that's not related to Travel.
Vistara Infinite: quick burn till 7.5L (Get business class vouchers and chill, no need to hit 12L milestone. Happy to pay their Annual fee)
Amex Plat Travel: till 4L
Infinia: for all the leftover spend. Sorry Infinia for straying, coming back to you. You have been a stable CC.
Axis Magnus: Zero, 0, Nada, Khatam, Over, Bye.. keep it till renewal, see what they really do to become a wannabe desirable card.

Screenshot_20230723_072846_Chrome.jpg
 
Last edited:
Upvote 0 Downvote
vina said:
Those who aren't making 50L CTC - they can complain all they want, they are unlikely to get Infinia or even DCB. Other cards don't beat even this version of Magnus.

and I'm not sure why you are beating the drum of middle class self pity here. The major thing Magnus has done here is removed the milestone benefit. To get that benefit, one had to spend 1lakh per month on the card. I can't think of too many scenarios in which someone can comfortably spend that kind of money every month (even most months) on a card, once rent and taxes are disallowed, and will not be making 2.5-3L per month in-hand anyway.

Even those who actually spent nearly 100% of their salary on card and got to milestone - I'm pretty sure I wont call them "middle class"



as for other cards, there are plenty of them. I used Amazon ICICI for years, not only did it give 5% on vast majority of my spends, I used Amazon's special deal days that happened 4-5 times a year and got 10% discounts very often on that. My average expense on that card was close to 50k a month (family of 3 adults 2 school going children). In fact when I first got Magnus, the way I met 1lakh threshold was by paying rent on it. when they removed rent, it became relatively hard to meet the criteria, though I moved nearly every expense to the card and started buying gyftr to smooth out expenses between months (E.g. this month had a few big planned expenses, so I loaded up Amazon and Flipkart previous two months with gyftr)

there is still HDFC Millenium - 5% on many many things. Axis Flipkart has 5% discount on all merchandise on Flipkart. Kotak Myntra is giving 8% on all spends Myntra. Stanchart Ultimate is giving 3.3 on a lot of things. Indusind Eazydiner has excellent discount deal for those who like to eat at restaurants ....

Lots of options; many you can get llife time free, others are at very nominal annual fee (or which nearly all they return in annual benefits)

Why people thought this loot of points will continue, and why they are behaving as if Axis (or anyone) owed them anything in life is beyond me.
Click to expand...
Indusind eazydiner is one card which i wished to get ltf, but never got it. Few have got hold of it as ltf, is your card also ltf ?
 
Upvote 0 Downvote
Hello Guys,
I really need your help.. by end if July I will have 3L points in Axi magnus. I might travel to US with my wife or I might spend on hotels in India. Please suggest the best options for the above.. support is highly appreciated..
Thanks
 
Upvote 0 Downvote
Bhargav said:
Hello Guys,
I really need your help.. by end if July I will have 3L points in Axi magnus. I might travel to US with my wife or I might spend on hotels in India. Please suggest the best options for the above.. support is highly appreciated..
Thanks
Click to expand...
Buddy those are quite polar opposite mights.
The only thing that comes to mind which gives decent redemption if you want to keep both options open is marriot.
If I was planning US visit, I'd put in United or Turkish for airlines.
For India, ITC, accor but accor India hotels are meh (mostly).
In my experience marriot hotels are great but you have to look for that good redemption value
 
Upvote 0 Downvote
neogen said:
Exactly, and agree to all your points. Well written - both your posts.

Frankly, Magnus is no longer a desirable or wannabe card. The way they dolled out the card to any tom dick and harry had set the writing on wall.

They tried and are now again trying to become a wannabe HNI card, however, they are nowhere there. Amex and HDFC Infinia are hands down way ahead in terms of their Concierge, customer service, stability, return, peace of mind etc. Infinia gives PP that is completely free to be used on any domestic lounge without a penny charge.

Mangus image has created a bad perception about them as a stable, trustworthy service provider. Their image is damaged beyond reasonable repair. Clearly, they have no CC strategy, earlier reckless Citi card acquisition, now this continued mess of changing TnCs / benefits frequently is utter bullshit. Axis's CC product department it seems have bunch of brainless kids managed by people with no foresight of CC business. That then reflects poorly on their rest of their business including Burgundy Savings Account etc. They have eroded their trust themselves.

However, I do thank Magnus for this mess, its now a good opportunity to reorient and optimize our respective CC portfolio as per their individual needs. I have 35 to 40 L spend on CC every year, and a large chunk of that is with Axis. Around 15-18 L of that spend is on travel. Now on, I am going to keep it super simple:
Atlas for Travel spend only. Not even paisa to be spent on this CC that's not related to Travel.
Vistara Infinite: quick burn till 7.5L (Get business class vouchers and chill, no need to hit 12L milestone. Happy to pay their Annual fee)
Amex Plat Travel: till 4L
Infinia: for all the leftover spend. Sorry Infinia for straying, coming back to you. You have been a stable CC.
Axis Magnus: Zero, 0, Nada, Khatam, Over, Bye.. keep it till renewal, see what they really do to become a wannabe desirable card.

View attachment 23557
Click to expand...
It looks like, based on the other Indian bank-issued cards in my folio, I'm back to Regalia and SBI Cashback. 😄 From now on, I will try to use foreign-issued cards as much as possible. It was a good ride with Magnus. Easily got 290k points in less than a year. I would say "Thank you" and RIP.
 
Last edited:
Apply For LTF HDFC Swiggy Credit Card
Upvote 0 Downvote
Got magnus in June this year.. Completed monthly milestones for June and July.. So will be having appx 62k points by 10th Aug. Might also complete for Aug.
I don't have any travel plan for next 6 months.
So what you guys suggest to transfer these 62k points on 5:4 basis as a safe bet for use let's say after 6 months and get max value out of it.
 
Upvote 0 Downvote
You must log in or register to reply here.

Similar threads

sleepysurya
  • Question Question
Axis Devaluation w.e.f September 1st 2023 - Links for different cards
Replies
4
Views
2K
Shrinit Padwal
Shrinit Padwal
TechnoFino
  • Sticky
  • Question Question
Wiki Axis Bank Brutal Devaluation of Atlas/Reserve/M4B/Vistara/Samsung/Flipkart/Ace/Airtel/Myzone/IOCL & Other Credit Cards
80 81 82
Replies
2K
Views
75K
panchabhut
P
captaintorchtm
  • Question Question
Axis - Multiple cards devaluation thread. (Reserve, Select, FK, Privilege, myzone)
5 6 7
Replies
124
Views
13K
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
2
Replies
28
Views
4K
drsel
drsel
tryabp
  • Question Question
RBL Credit Cards Devaluation W.E.F. October 09, 2023
Replies
9
Views
3K
cc_dc_explorer
cc_dc_explorer
Back
Top