• 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
Ravana_88 said:
They mentioned that the salary coming into account is RTGS and not Salary . Hence , it cant be put in Burgundy Salary . But since there is 5 L + account maintained for the past few months , they can upgrade it into normal Burgundy where you have to maintain 5 L at family id which seems reasonable . I am thinking of doing it now .
Click to expand...
Plz share rm number I am ready with 5 lkh for burgandy
 
Upvote 0 Downvote
5L is the starting cheque needed for Burgundy. But the eligibility remains fixed. They may not ask you for it straightaway, but after a few months, they'll point it out, or without notice downgrade your account to non Burgundy.
 
Upvote 0 Downvote
sanju8486 said:
I guess it basically depends on branch to branch/ branch heads..

Some smaller towns/semi urban/urban area branch heads are comfortable with 5l burgundy AQB..
Click to expand...

twugd said:
But doesnt Burgundy need 10L?
Click to expand...
I will reconfirm before upgrading but she mentioned that 5 L monthly is enough to have Burgundy . I live in Noida. Rest, I will get into details in the next few days . As many of you have suggested, I will upgrade the account after 1st Sep only .
 
Upvote 0 Downvote
sid16 said:
5L is the starting cheque needed for Burgundy. But the eligibility remains fixed. They may not ask you for it straightaway, but after a few months, they'll point it out, or without notice downgrade your account to non Burgundy.
Click to expand...
I had enrolled for Burgundy few years back. They asked me to keep 10 lakhs for only a couple of weeks and not worry thereafter. Then one fine day during Covid, was informed by email that balance is not maintained and was charged 3k + GST some time later. I must admit that I ignored the email as it was during Covid and seemed like a promo email as it did not pertain to card / account statement and had no attachment. After protesting, I got 3k reversed (not GST). Don't trust RMs for these things, generally for all banks but more particularly for Axis.
 
Upvote 0 Downvote
ketz1981 said:
I had enrolled for Burgundy few years back. They asked me to keep 10 lakhs for only a couple of weeks and not worry thereafter. Then one fine day during Covid, was informed by email that balance is not maintained and was charged 3k + GST some time later. I must admit that I ignored the email as it was during Covid and seemed like a promo email as it did not pertain to card / account statement and had no attachment. After protesting, I got 3k reversed (not GST). Don't trust RMs for these things, generally for all banks but more particularly for Axis.
Click to expand...
It has nothing to do with trust (at least of the kind we usually talk about, read below)

These things are automated, either they give you an explicit waiver (like in a life time free version of a paid card) or the computer should automatically levy fines (which you can then get them to reverse)

If neither is happening: that's when you should really be worries - do you really want to trust people, who can't figure 20yr old IT features today, with your money?



And I would say one thing about this - Axis has some of the worst systems in place. I am just hopeful that the CITI team would be improving things for them now
 
Upvote 0 Downvote
vina said:
over 16lakhs
Click to expand...
I had limit of 11L. I asked bank RM to upgrade to Infinia several times but they said I'll need to put a lien of 10L or have FD of 15L. I emailed credit card team, they refused to upgrade at first. Then I told them I'm gonna close my 12 year old HDFC account and I'll make sure all my family (6+ accounts) also closes their HDFC accounts. If they can trust me with 11L limit on Regalia and Infinia starts at 10L limit, why are they not providing me Infinia. Lo and behold, they agreed to upgrade. And I was serious about the account closure, I would've definitely closed my account and moved to either Axis or ICICI.
 
Upvote 0 Downvote
dmittal said:
I had limit of 11L. I asked bank RM to upgrade to Infinia several times but they said I'll need to put a lien of 10L or have FD of 15L. I emailed credit card team, they refused to upgrade at first. Then I told them I'm gonna close my 12 year old HDFC account and I'll make sure all my family (6+ accounts) also closes their HDFC accounts. If they can trust me with 11L limit on Regalia and Infinia starts at 10L limit, why are they not providing me Infinia. Lo and behold, they agreed to upgrade. And I was serious about the account closure, I would've definitely closed my account and moved to either Axis or ICICI.
Click to expand...
Which email id you have send mail to hdfc?
 
Upvote 0 Downvote
dmittal said:
I had limit of 11L. I asked bank RM to upgrade to Infinia several times but they said I'll need to put a lien of 10L or have FD of 15L. I emailed credit card team, they refused to upgrade at first. Then I told them I'm gonna close my 12 year old HDFC account and I'll make sure all my family (6+ accounts) also closes their HDFC accounts. If they can trust me with 11L limit on Regalia and Infinia starts at 10L limit, why are they not providing me Infinia. Lo and behold, they agreed to upgrade. And I was serious about the account closure, I would've definitely closed my account and moved to either Axis or ICICI.
Click to expand...
Who did you talk to about all this? Your RM or BM or directly customer care at hdfc?
 
Upvote 0 Downvote
I wondering why Axis changed travel edge reward points from 5X to 60P as it meant the same amount of points. But now I realised that we can get 35P for 200 after spending 1.5L in that's why Axis changed it from 5X to 60P.

It is because of the same reason they have devalued Gyfter to 2X,3X. Imagine if 10X is back then we can get 350P on spending 200 that's 280 miles.Thats why Axis has to dropped it.

Both Amex and Hdfc are more conservative with Gyfter. Only High-end cards have 5X multiple and there is a limit on monthly rewards points.for Infinia its 15000 and for Amex Platinum Charge it's 25000. Axis will follow this trend in future and people will be more upset.
 
Upvote 0 Downvote
hrish88 said:
I wondering why Axis changed travel edge reward points from 5X to 60P as it meant the same amount of points. But now I realised that we can get 35P for 200 after spending 1.5L in that's why Axis changed it from 5X to 60P.

It is because of the same reason they have devalued Gyfter to 2X,3X. Imagine if 10X is back then we can get 350P on spending 200 that's 280 miles.Thats why Axis has to dropped it.

Both Amex and Hdfc are more conservative with Gyfter. Only High-end cards have 5X multiple and there is a limit on monthly rewards points.for Infinia its 15000 and for Amex Platinum Charge it's 25000. Axis will follow this trend in future and people will be more upset.
Click to expand...
so now it would be 3X,5X 35ER on gyftr after 1.5L?
 
Apply For LTF HDFC Swiggy Credit Card
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
79 80 81
Replies
2K
Views
75K
thereguser
thereguser
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