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

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bugmenot

bugmenot

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-- 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
 

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www.technofino.in

Club Vistara Will Remain Unchanged After Merger With Air India - But How Much?

By now you all must be getting the mail from Vistara that mentions “We would like to assure you that all the benefits and privileges associated with your CV Points, tiers, vouchers, etc. will remain unchanged as per the current program construct.” That means we’ll be having same benefits even...
www.technofino.in www.technofino.in
vina said:
Sometime around March next year Air India, Vistara and Air Asia will merge into one company - called Air India from then on. Right now all of these three airlines are running their own loyalty programs. It is not clear how the merged entity will run it.

At least for Air India - the loyalty program is not valued much.

I had checked whether to trasfer points to Spicejet earlier. Many issues there - first of all the airline is perennially at the brink of bankruptcy. But also, I couldn't see a way to book flights using points. The value of those points isn't much.


So basically, there is a risk that by March next yea Vistara is out (or diluted to very low), and once that happens, there won't be a domestic airline to use the ER points even with 5:4


At least for me (and there will be others I'm sure) - there isn't much value in international airlines - I don't see much value in beaches on Maldives when I haven't spent time at Pondicherry and Gokarna (lack of time both me, wife and kids). That only leaves hotels in India and the places we usually go to usually have KSTDC guest houses and jungle lodges, not ITC 5 stars (or even 3 stars) usually.

So if Vistara actually dilutes itself (nothing to do with Axis), Magnus turns useless from that act alone - the only redemption option for people like me (for most of the points) will be 5:1 conversion to gift vouchers, or 1.2% on regular spends and 2.4% on Gyftr Amazon (3.6% on Swiggy).
Click to expand...
 
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Finally I found some reason to pay the renewal fee in September 😅, which none seem to have commented here.

I have more than 1L worth of points pending to come, most of that will come by September. All my travel till December is already planned/booked. And I don't have any travel planned yet for next year.

So, I can potentially transfer them all to vistara/accor (Turkish is currently down for star alliance flights, United/krisflyer seems costly and JAL seems risky) and then close the card in September to avoid annual fee.

But then I see those bonus offers that these come up with every year. Vistara offered 30% this year in march, Accor offered 50% this year in December. Obviously past offers don't guarantee for future.

But, even if I am able to transfer about 1L points under 20% offer in next 12 months, I will get 20K additional miles, which are more than 11800 fees (I already have Burgundy account, so my transfer ratio will remain same at 5:4).

This is considering there is no offer at least from vistara and accor in next 2 months. This will also allow me flexibility to choose a different program later on based on my travel plan.

As far as card goes, I have literally no use apart from their Eazydiner and bms offers. Might be able to get about 3K from there.

I have lounge access from other cards too. Spends are always below 1.5L per month, so sbi cb is way better. Traveledge 5x is useless for me, as I get better offers on direct card offers based bookings. Gyftr is useless as well with devaluation except maybe for Amazon pay vouchers. But I already have select LTF also.

So even though, I have practically no use of card in itself, I am thinking to keep the card active for one more year and pay renewal fee.
 
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navam said:
This thread went from
Deval 1 is end of axis, they screwed us --> yay our voices matter and Axis is on the backfoot --> wtf axis don't listen to us deval 1 was better than deval 2.

🍿😎 Can't wait for the next twist!
Click to expand...
It was
Deval 1 - i will cancel card
then few days - ok will use Gyftr and card is still better
then Gyftr Deval
Card is still better
Deval 2 (final) I will now cancel
then after - ok magnus is still better if i use travel edge and 2 lakh spend etc etc

Somehow axis know people will stick to the card anyhow. By reading this long 150+ pages, you can know people not only starts accepting but they start justifying axis and somehow convincing their own self (not others) that this card is still better and will renew it
 
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ishanmontella said:
This is already discussed. Accelerated rewards will be credited within 90-120 days (no change here). Only the milestone spends till July, will be credited by 10th August.
Click to expand...
Thanks for this ! I was planning me transfer based on this, will revise now.
Atleast we should get May Accelerated points before the deval goes in.
 
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