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

 

[hrish88]

Magnus is dead when you compare with Magnus prior to devaluation. However it is still the 2nd best card depending on person to person. If you are a Brugundy customer the best card is Magnus as it will be LTF with 5:4 transfer and non spend benefits. Gyftr keeps changing... tomorrow suddenly one might see higher rewards as well
Infinia is an All rounder card while Mangus is 2nd best. If someone has Infinia never forfeit it as it is the best card at zero cost

Will it be LTF for Burgundy?Is it official?so far I have not received anything from axis bank.

 

[Sharjeelshaikh]

Apna gyftr ER aayega time PE ya woh bhi after deval ayega...itna ho hulla machaya janata ne fake pdf pe asli Deval ke. Baad sab so gaye

 

[hrish88]

Will it be LTF for Burgundy?Is it official?so far I have not received anything from axis bank.

Just spoke to my RM. he confirmed that for no Renewal fee for the Burgandy customer.

 

[Vickymaster1010]

Just spoke to my RM. he confirmed that for no Renewal fee for the Burgandy customer.

please share rm number i want to make an account

 

[funatlearn]

please share rm number i want to make an account

My rm is useless. Is there a way to change it?

 

[Ravana_88]

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.

Let me try then .

 

[MilesMax]

Lol, then no point of FD. FYF is easy if u have HDFC salary account.

I used to have 10+ lakhs in SB account in HDFC and they weren't even ready to make my Regalia LTF or give Diners Black paid.
Also, they don't consider salary from overseas companies as salary. They want it to be in INR only.

I just moved everything from HDFC. I only use it to pay credit card bills now to get 750 cashback every month.
For me, FD is the only way to get it.

 

[MilesMax]

Absolutely and its LTF.. provided you meet the Magnus Credit card requirements ..like 18 lakhs salary etc

You mean it applies only for New customers or existing Magnus holders can turn their cards LTF ?

 

[K.R]

Will it be LTF for Burgundy?Is it official?so far I have not received anything from axis bank.

The PDF says so.. I checked with my RM and he said whenever Iam free he will come home and get it done. No charges as long as you be a proper Brugundy customer basically meeting their Brugundy criteria in a consistent manner. 10 Lacs Savings or 30 lacs NVR or 3 lac Salary deposits

 

[K.R]

You mean it applies only for New customers or existing Magnus holders can turn their cards LTF ?

For all Brugundy customers. Their aim is to have Magnus only with Brugundy..dicourage non Brugundy by devaluating

 

[PavanPavan is verified member.]

Downgraded to axis privilage 🙁 just to keep 4 cards with axis

 

[Trust Me]

HDFC did make it very hard to leave for him by offering him Infinia but he ignored and still closed his card and account. And then they offered him nothing: And then after he closed his account, they offered him nothing by rejecting his Infinia request 4 times.

Does it seem more clear now?

Nope!

Difficulty with DeMat closure made more sense.

 

[vikramsrit]

D

Nope!

Difficulty with DeMat closure made more sense.

Demat closure anywhere is a pain.

 

[amit]

May, June salary credited 🎉

 

[Sharjeelshaikh]

Milestone credited gyftr Wale points baki hai

 

[Anonymous ツ]

June Milestone credited. My first salary from Magnus

 

[Anonymous ツ]

Milestone credited gyftr Wale points baki hai

ye bhi 31st July tak aayege ya fir only Milestone?

 

[Sharjeelshaikh]

ye bhi 31st July tak aayege ya fir only Milestone?

Abhi toh wada khali milestone ka Kia hai ..no word on gyftr points

 

[chasni]

Have we received Gyftr for April?

 

[vina]

Will it be LTF for Burgundy?Is it official?so far I have not received anything from axis bank.

there is no charge for Burgundy; the charge is in the form of opporutnity cost (unless it is based on salary) - you get only savings interest on the 10Lakhs