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

---

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

 

[MilesMax]

I've heard One World charges high taxes and fees. Wouldn't Star Alliance be better for US/Europe since it has Air India, United, Lufthansa etc. as members?

True tax is high but the miles required are often less compared to Star Alliance.
(Exceptions are there for sure)

Lufthansa is good but requires more points than BA for the same route. (Check for US)

One world has British Airways and Qatar which flies to US and Europe.
It also has Cathey Pacific for Asia (HK, China etc)
The drawback of One World is SE Asia. Srilankan Air is the only partner there.

Etihad has a lot of Europe coverage. It can be booked from Both One World and Star Alliance (Select airline FFPs)

The advantage of One World is "Avios". It is flexible, can be moved between select partners at 1:1

I don't see many Business class options available in the United these days. For Economy it is good.
There are exceptions everywhere though. Availability, Dynamic pricing, partners etc.

 

[basant]

Can we transfer magnus points to emirates? dubai tour is planned

 

[vikramsrit]

Looks like Burgundy account holders are getting Magnus LTF as part of Burgundy relationship offer. A few members of the community confirmed the same.

 

[captaintorchtm]

Can we transfer magnus points to emirates? dubai tour is planned

Best CC for Dubai Trip

I am planning for a Dubai Trip in Aug last week with my family (2+1) and would like to explore best possible options wherein I can maximize CC rewards and also make the best utilization of my existing reward points?. Any help/guidance will be hugely appreciated. My current card fleet and...

www.technofino.in

 

[pate]

Looks like Burgundy account holders are getting Magnus LTF as part of Burgundy relationship offer. A few members of the community confirmed the same.

They offered me magnus Ltf for burgandy salary account. But are super restricted on 3L pm net salary deposit excluding any bonus, taxes etc..

 

[MilesMax]

Can we transfer magnus points to emirates? dubai tour is planned

Not possible directly. ER -> MB -> Skywards. (3:1) Not recommended.

 

[K.R]

They offered me magnus Ltf for burgandy salary account. But are super restricted on 3L pm net salary deposit excluding any bonus, taxes etc..

Magnus will be free if you hold a Brugundy account and to have Brugundy account other than salary Brugundy one can have 10 lacs QAB in Savings or 30 Lacs TRV

 

[captaintorchtm]

Can we transfer magnus points to emirates? dubai tour is planned

Emirates can be booked via Qantas, JAL, Aeroplan

 

[jchandra49]

Any idea on how much balance should we need to maintain in current account for Burgundy

 

[vikramsrit]

Any idea on how much balance should we need to maintain in current account for Burgundy

AFAIK, you won't get Magnus benefits with current account.

 

[ARV]

Any idea on how much balance should we need to maintain in current account for Burgundy

Here you go as per latest T&C shaed during deval

 

[Ankur dhanda]

They offered me magnus Ltf for burgandy salary account. But are super restricted on 3L pm net salary deposit excluding any bonus, taxes etc..

Also only for select companies which are their in their network and not all.

 

[basant]

If 4 family members are added in burgandy family a/c, will all 4 get ltf magnus 😜😜😜😄

 

[Ravana_88]

I dont have an axis salary account ( I work in a startup and they dont have tie-up with Axis for salary account ) but my salary criteria is met and the salary is getting deposited in Axis Priority. Can my account be updated to Burgundy ?

 

[vikramsrit]

I dont have an axis salary account ( I work in a startup and they dont have tie-up with Axis for salary account ) but my salary criteria is met and the salary is getting deposited in Axis Priority. Can my account be updated to Burgundy ?

If you are getting 3L+ salary in your account, you can upgrade it to an Axis Burgundy Salary account. Your company need not have any tie-up or banking relationship with Axis. I speak from experience.

 

[chasni]

If 4 family members are added in burgandy family a/c, will all 4 get ltf magnus 😜😜😜😄

My mother has an account in Axis and the TRV is well above 30L but she is still a priority customer (not Burgundy) without any RM. Moreover, my account is linked to her with a family banking ID but still it is a basic account. I went to nearest branch last week to get her upgraded to Burgundy, including my account. The rep said that they can upgrade my mother but they cannot upgrade me unless I maintain my own TRV. So, I asked them the use of Family Banking if the collective TRV is not being considered. Also, I showed him the Burgundy pdf where it is says eligibility is calculated at Family ID or Customer ID level. He didn't have an answer for that. He said he will email and check with back-end team. Next step is to threaten them with closing the account.

All these big private banks are useless. They don't know their own rules. Small private banks are far better in customer service.

 

[kapoorsanyam]

Off topic - but what are some good indian credit cards/ finance in general related twitter account that one can follow to stay updated? Thanks 😁

 

[thedator]

If you are getting 3L+ salary in your account, you can upgrade it to an Axis Burgundy Salary account. Your company need not have any tie-up or banking relationship with Axis. I speak from experience.

But without the tie up, salary wont get credited into the Axis account right?

 

[navam]

But without the tie up, salary wont get credited into the Axis account right?

Depends on your company, majority of them will just ask you for ACC info about where you want your salary and after one or two months of it coming into your bank account you can tell your RM this is my salary account.

 

[vina]

What was the credit limit on your Regalia at the time of closing it?

over 16lakhs