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

 

[Googix]

Has anyone redeemed multi brand vouchers at 5:2 value with just Axis Magnus? Thinking of redeeming remaining points with this one after 1 Sep.

 

[aniruddhaadhe]

The transaction got settled today. I can see 1% rent surcharge + gst is reflecting. So goodbye PZ+RG

It is fixed for Axis only?
Or fixed for HDFC cards as well?

 

[Virgo]

It is fixed for Axis only?
Or fixed for HDFC cards as well?

It’s a PZ fix, not card specific

 

[Tirajat]

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.

Depends on your travel requirements. For SE, I find KF as one of the best FF programs. United is also great and can offer lower redemption requirements on *A, especially for intra Europe travel on Lufthansa. Turkish is good as you mostly get availability, but the points requirements is generally high (with some sweet spots). In summary, depends!

 

[FinanceBaBa]

Depends on your travel requirements. For SE, I find KF as one of the best FF programs. United is also great and can offer lower redemption requirements on *A, especially for intra Europe travel on Lufthansa. Turkish is good as you mostly get availability, but the points requirements is generally high (with some sweet spots). In summary, depends!

I got late into the miles game so don't have any other card apart from magnus for this game at present.

I guess these 62k miles won't be enough for Europe for 4ppl.. Considering my self and family..
For within India vistara and Accor seems to be okayish for the time being.
What about Vietnam..can these cover for flights for 2-3 ppl atleast.. If yes which partner/airline can be considered.?

 

[rogerthat]

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.

I still feel that banks are somehow not interested in rewarding customers like me who spend 14-16L a year using credit cards. And yes, I can easily achieve the same without any stretching or manufactured spending in a family of 6 (4 adults, 2 children) and without any substantial travel (maybe once a year). This is because of 6L worth of insurance policies that I have to pay every year, thanks to the previous generation considering LIC as the Magnus of their time. Then there are school fees, taxes and so on.

Yes with Magnus I could've easily achieved the milestone on most months. With proper planning and spreading of spends even all the months. However, now with the milestone gone, Magnus is useless. I was sold the card promising that benefits would remain more or less as it is for a long time and even if devaluation were to happen it would be "soft" like what they did to Infinia and not this.

I get that there are 5% cashback cards but what most people don't understand is that I do not live in a Metro or Tier 1 city and most of my spends are OFFLINE. At POS swiping machines. I don't do Myntra and Swiggy or Flipkart. If at all nearly all my online spends are on Amazon and I do have the ICICI APay card for that. And that, sadly, is the best I can get. Then again, this is also the best option available for someone spending 2-3L overall a year using credit cards.

Yeah I've tried for Infinia and predicatably HDFC even after being a customer for 17 years and having salary account with them the best they offer is a FYF Diners Privilege which offers no privilege at all. That leaves me with no cards that I can see to be beneficial until I hit the 50L CTC milestone.

 

[coinhunter]

I still feel that banks are somehow not interested in rewarding customers like me who spend 14-16L a year using credit cards. And yes, I can easily achieve the same without any stretching or manufactured spending in a family of 6 (4 adults, 2 children) and without any substantial travel (maybe once a year). This is because of 6L worth of insurance policies that I have to pay every year, thanks to the previous generation considering LIC as the Magnus of their time. Then there are school fees, taxes and so on.

Yes with Magnus I could've easily achieved the milestone on most months. With proper planning and spreading of spends even all the months. However, now with the milestone gone, Magnus is useless. I was sold the card promising that benefits would remain more or less as it is for a long time and even if devaluation were to happen it would be "soft" like what they did to Infinia and not this.

I get that there are 5% cashback cards but what most people don't understand is that I do not live in a Metro or Tier 1 city and most of my spends are OFFLINE. At POS swiping machines. I don't do Myntra and Swiggy or Flipkart. If at all nearly all my online spends are on Amazon and I do have the ICICI APay card for that. And that, sadly, is the best I can get. Then again, this is also the best option available for someone spending 2-3L overall a year using credit cards.

Yeah I've tried for Infinia and predicatably HDFC even after being a customer for 17 years and having salary account with them the best they offer is a FYF Diners Privilege which offers no privilege at all. That leaves me with no cards that I can see to be beneficial until I hit the 50L CTC milestone.

Same here. I do not live in a Metro or Tier 1 city. The challenge is real. That's why I'm back to Regalia or SBI's Cashback. The only card that will give me miles now is the one issued in foreign (Citibank, Amex, and a few others), but unfortunately, international cards are not accepted in most places here.

 

[navam]

I still feel that banks are somehow not interested in rewarding customers like me who spend 14-16L a year using credit cards. And yes, I can easily achieve the same without any stretching or manufactured spending in a family of 6 (4 adults, 2 children) and without any substantial travel (maybe once a year). This is because of 6L worth of insurance policies that I have to pay every year, thanks to the previous generation considering LIC as the Magnus of their time. Then there are school fees, taxes and so on.

Yes with Magnus I could've easily achieved the milestone on most months. With proper planning and spreading of spends even all the months. However, now with the milestone gone, Magnus is useless. I was sold the card promising that benefits would remain more or less as it is for a long time and even if devaluation were to happen it would be "soft" like what they did to Infinia and not this.

I get that there are 5% cashback cards but what most people don't understand is that I do not live in a Metro or Tier 1 city and most of my spends are OFFLINE. At POS swiping machines. I don't do Myntra and Swiggy or Flipkart. If at all nearly all my online spends are on Amazon and I do have the ICICI APay card for that. And that, sadly, is the best I can get. Then again, this is also the best option available for someone spending 2-3L overall a year using credit cards.

Yeah I've tried for Infinia and predicatably HDFC even after being a customer for 17 years and having salary account with them the best they offer is a FYF Diners Privilege which offers no privilege at all. That leaves me with no cards that I can see to be beneficial until I hit the 50L CTC milestone.

See I think the reason this particular range is not the banks target because they don't really make any money off them.
You earn enough to pay off your debt in time but not enough to be able to give them business of above 1cr.
One of the reasons I won't open too many accounts is that the assets get distributed and you don't have as much leverage over the RM's (that's why no burgundy for me) I primarily deal with HDFC and getting Infinia was effortless with 19lk something limit.

 

[Harry13]

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.

+1

 

[vina]

I still feel that banks are somehow not interested in rewarding customers like me who spend 14-16L a year using credit cards. And yes, I can easily achieve the same without any stretching or manufactured spending in a family of 6 (4 adults, 2 children) and without any substantial travel (maybe once a year). This is because of 6L worth of insurance policies that I have to pay every year, thanks to the previous generation considering LIC as the Magnus of their time. Then there are school fees, taxes and so on.

Yes with Magnus I could've easily achieved the milestone on most months. With proper planning and spreading of spends even all the months. However, now with the milestone gone, Magnus is useless. I was sold the card promising that benefits would remain more or less as it is for a long time and even if devaluation were to happen it would be "soft" like what they did to Infinia and not this.

I get that there are 5% cashback cards but what most people don't understand is that I do not live in a Metro or Tier 1 city and most of my spends are OFFLINE. At POS swiping machines. I don't do Myntra and Swiggy or Flipkart. If at all nearly all my online spends are on Amazon and I do have the ICICI APay card for that. And that, sadly, is the best I can get. Then again, this is also the best option available for someone spending 2-3L overall a year using credit cards.

Yeah I've tried for Infinia and predicatably HDFC even after being a customer for 17 years and having salary account with them the best they offer is a FYF Diners Privilege which offers no privilege at all. That leaves me with no cards that I can see to be beneficial until I hit the 50L CTC milestone.

I see. Obviously the right options (or any options for that matter) will depend on personal situation of people.

One question for you - now that Magnus is out, which card will you use for Insurance Payments?

 

[vina]

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 ?

mine isn't LTF

and I'm now thinking whether I want to continue it - Magnus gave Eazydiner for free on birthday, and gives the Eazydiner discount also, which I use only 6-7 times a year.

I'm very close to 15Lakh threshold for the year (renewal in September; it is kind of a special situation - I guess very few card holders will have their renewal up in September, most joined afterwards), I fully intend to get milestone in August also and with that I should be over the renewal threshold

So it make no sense for me to not renew Magnus this year. And I think they will give free eazydiner next year also (they are continuing the 1000 rupees benefit afterall).

Then again - I might renew the Indusing card and give it to wife - she goes to lunches with her office friends and they usually spend less than 2500, so they can't get Magnus discount. I'll call them to cancle next month and let's see what they say - I'm guessing they may give a discount or make it free for next year in exchange for the accumulated points.

 

[Tirajat]

I got late into the miles game so don't have any other card apart from magnus for this game at present.

I guess these 62k miles won't be enough for Europe for 4ppl.. Considering my self and family..
For within India vistara and Accor seems to be okayish for the time being.
What about Vietnam..can these cover for flights for 2-3 ppl atleast.. If yes which partner/airline can be considered.?

You can get SQ 1-way Y from India to Vietnam in 20k miles, if you manage to score a Saver seat - this should get you at least 1 return tickets. J class on same route is 43k (saver tickets) 1-way. Else, you can book 1-way for 2 people with 40k miles and purchase a 1-way Vietjet which does not charge extra even if its not a return ticket!

 

[FinanceBaBa]

You can get SQ 1-way Y from India to Vietnam in 20k miles, if you manage to score a Saver seat - this should get you at least 1 return tickets. J class on same route is 43k (saver tickets) 1-way. Else, you can book 1-way for 2 people with 40k miles and purchase a 1-way Vietjet which does not charge extra even if its not a return ticket!

Whats SQ.?

and who's the airline partner /ff program to book vietjet.?

 

[rj_arora]

Sir jee, that 5:4 is a temp carrot 🥕 🥕 🤣🤣🤣not the burgundy. Burgundy is super easy to get. 🍅 🍅 🍅

How is it super easy to get?

 

[vina]

How is it super easy to get?

he must be rich

 

[rogerthat]

I see. Obviously the right options (or any options for that matter) will depend on personal situation of people.

One question for you - now that Magnus is out, which card will you use for Insurance Payments?

That's what I am angry about. I had it all nicely planned out.

I used to pay the premiums on Aamzon Pay using ICICI Amazon Pay card earlier but it is no longer possible to use credit cards for that. Well I think now I should go via the route of buying Amazon Pay vouchers using my HDFC DCP (suddenly not that useless) and Amex cards via Gyftr and then pay via Amazon Pay. If that also goes then I guess the only option is SC Ultimate. 2% is better than nothing.

 

[vina]

That's what I am angry about. I had it all nicely planned out.

I used to pay the premiums on Aamzon Pay using ICICI Amazon Pay card earlier but it is no longer possible to use credit cards for that. Well I think now I should go via the route of buying Amazon Pay vouchers using my HDFC DCP (suddenly not that useless) and Amex cards via Gyftr and then pay via Amazon Pay. If that also goes then I guess the only option is SC Ultimate. 2% is better than nothing.

I didn't know insurance can be paid using Amazon Pay - thanks for the tip

I have SC Ultimate, but what I'm thinking is this - Magnus would still give you points on Insurance payments; so if you can use it for even moderate travel, the 6L spend you'll do will fetch 36000 ER points worth about 30k in Vistara tickets (2 BLR-DEL economy return tickets); that's 5%. You have choise of other airlines of course and so real value may be only 4%, but definitely better than SC Ultimate.

If you buy Amazon Pay from Magnus-Gyftr, the above doubles. I'm not sure what is the rate with DCP.


By the way - if you move all your expenses to DCP and spend over 7lakhs on it in 6 months, your HDFC RM can get you Infinia

 

[neogen]

How is it super easy to get?

Same way people acquired Magnus a so called HNI card.. 🙄

 

[rohitb]

Whats SQ.?

and who's the airline partner /ff program to book vietjet.?

Sq = Singapore Airlines
Viet het is low cost - they do have partnership with jal
You can choose another carrier - Vietnam airlines which is skyteam member.

Thoda Google shoogle kijiye . You don't need to get blocked on someone answering here . It's basic Q, no tip and trick in this.

 

[pate]

Sq = Singapore Airlines
Viet het is low cost - they do have partnership with jal
You can choose another carrier - Vietnam airlines which is skyteam member.

Thoda Google shoogle kijiye . You don't need to get blocked on someone answering here . It's basic Q, no tip and trick in this.

Can we book vietjet using JAL? Cannot see any option on JAL.