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

 

[sid16]

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.

They will say all nonsense because getting Burgundy customers on board gets them promotions and bonuses. In few months, they will change branch or bank itself. Ultimately, bank policy doesn't change from one person to another.

 

[sid16]

What are the best options to transfer?

I transferred everything in Accor.

 

[ketz1981]

I think ITC offering 10% bonus points on Axis transfers. Shows on the enrollment page of Club ITC.

 

[MilesMax]

so now it would be 3X,5X 35ER on gyftr after 1.5L?

Unlikely. That will be really hard to track. What if you have spent 1.5L and bought vouchers, then you get a refund of 20k of some previous transaction etc.

Also this 35ER I am not sure how it's calculated if there are refunds for transactions under 1.5L, They would have to subtract a points for excess credited later (for the transaction as well the whatever happened post 1.5L) Now it gets even more complicated for us know if we are receiving the correct points or not.

1x would probably be 35ER, and accelerated would be calculated for 12 ER I guess.

 

[sid16]

Unlikely. That will be really hard to track. What if you have spent 1.5L and bought vouchers, then you get a refund of 20k of some previous transaction etc.

Also this 35ER I am not sure how it's calculated if there are refunds for transactions under 1.5L, They would have to subtract a points for excess credited later (for the transaction as well the whatever happened post 1.5L) Now it gets even more complicated for us know if we are receiving the correct points or not.

1x would probably be 35ER, and accelerated would be calculated for 12 ER I guess.

So then what would happen if someone has already spent 1.5 lakhs, then they avail a 2X voucher? Without voucher, they get 35ER/Rs. 200. But with voucher, they get only 24ER/Rs. 200? Nah, that would be crazy. Even a 3X voucher would get only 36ER/Rs. 200 with that logic. It has to be on top of the 35ER, only then it can make the right sense. Especially because the base rewards need to be credited within 7-10 days, whereas the bonus ER come after 90 to 120 days.

 

[WhoU]

They will have a simplified calculation most probably. If I were them, I would do it like this:

Base reward rate is always 12/200.
When spent on gyftr 2x, 12/200 will be credited separately.
When spent above 1.5L, 23/200 will be credited separately.

So if you purchase 2k voucher having 2x post 1.5L, you will get:
12 base rp
12 via gyftr
23 via threshold.
Total: 47 for 200, hence 470 for 2k.

 

[ADITYA1904]

@Wealth is my birth right! @Rkr @CMG and other members, they deactivated my er account like others but i made genuine Bharatnxt transactions but on axis support email where they say attach invoices, even I attached invoices, when i submit its shows something went wrong error so cant submit, I already have more than 50k points please help…i sent those invoices too pno@axisbank.com and premier.experience @axisbank.com but still no reply…if anybody whose er account deactivated and reactivated tell me the full process and process to contact them and earliest resolution, i called burgundy customer care more than times they say we dont have email access so…

 

[sid16]

They will have a simplified calculation most probably. If I were them, I would do it like this:

Base reward rate is always 12/200.
When spent on gyftr 2x, 12/200 will be credited separately.
When spent above 1.5L, 23/200 will be credited separately.

So if you purchase 2k voucher having 2x post 1.5L, you will get:
12 base rp
12 via gyftr
23 via threshold.
Total: 47 for 200, hence 470 for 2k.

That makes much more sense!

 

[hiteshgurnani14]

@Wealth is my birth right! @Rkr @CMG and other members, they deactivated my er account like others but i made genuine Bharatnxt transactions but on axis support email where they say attach invoices, even I attached invoices, when i submit its shows something went wrong error so cant submit, I already have more than 50k points please help…i sent those invoices too pno@axisbank.com and premier.experience @axisbank.com but still no reply…if anybody whose er account deactivated and reactivated tell me the full process and process to contact them and earliest resolution, i called burgundy customer care more than times they say we dont have email access so…

My rewards redemption was also deactivated as I used Bharatnxt in March. So I sent email of Bharatnxt invoice(which had my name and pan no.) and my salary slip to give them assurance that I am a salaried employee so I always use my cards only for personal use to premium.experience email id and my acct got activated in a day and got their revert after 2days that it’s active now.

 

[ADITYA1904]

T

My rewards redemption was also deactivated as I used Bharatnxt in March. So I sent email of Bharatnxt invoice(which had my name and pan no.) and my salary slip to give them assurance that I am a salaried employee so I always use my cards only for personal use to premium.experience email id and my acct got activated in a day and got their revert after 2days that it’s active now.

They didnt ask merchant invoice whom you paid?

 

[RkrRkr is verified member.]

@Wealth is my birth right! @Rkr @CMG and other members, they deactivated my er account like others but i made genuine Bharatnxt transactions but on axis support email where they say attach invoices, even I attached invoices, when i submit its shows something went wrong error so cant submit, I already have more than 50k points please help…i sent those invoices too pno@axisbank.com and premier.experience @axisbank.com but still no reply…if anybody whose er account deactivated and reactivated tell me the full process and process to contact them and earliest resolution, i called burgundy customer care more than times they say we dont have email access so…

Wait for PNO resolution then approach CEO desk for the same.

 

[hiteshgurnani14]

T

They didnt ask merchant invoice whom you paid?

Nope

 

[Sharjeelshaikh]

Bhai log Mumbai ya Delhi ke international terminal pe PRIORITY PASS SWIPE MARE ya magnus....kaunsa free hai

 

[hiteshgurnani14]

Bhai log Mumbai ya Delhi ke international terminal pe PRIORITY PASS SWIPE MARE ya magnus....kaunsa free hai

31st August tak u can use PP..

 

[Sharjeelshaikh]

31st August tak u can use PP..

Uske baad international terminal pe kaunsa swipe mare .only magnus

 

[Ashutosh007]

What are the best options to transfer?

I think Accor is not a great deal, mostly for international travel hotels don't matter much, you can get much better value properties than Accor on Airbnb, as most Ibis properties in International locations do not accept Accor points, better to transfer a majority of points to flights like Singapore Airlines.

 

[Sharjeelshaikh]

I think Accor is not a great deal, mostly for international travel hotels don't matter much, you can get much better value properties than Accor on Airbnb, as most Ibis properties in International locations do not accept Accor points, better to transfer a majority of points to flights like Singapore Airlines.

If it has accor points logo which most have they will accept

 

[WhoU]

Bhai log Mumbai ya Delhi ke international terminal pe PRIORITY PASS SWIPE MARE ya magnus....kaunsa free hai

Best is to check in dreamfolks website. If it is free via card, it will show. Else not.

 

[MilesMax]

So then what would happen if someone has already spent 1.5 lakhs, then they avail a 2X voucher? Without voucher, they get 35ER/Rs. 200. But with voucher, they get only 24ER/Rs. 200? Nah, that would be crazy. Even a 3X voucher would get only 36ER/Rs. 200 with that logic. It has to be on top of the 35ER, only then it can make the right sense. Especially because the base rewards need to be credited within 7-10 days, whereas the bonus ER come after 90 to 120 days.

Like I said in the last line, Base 1x spend will be 35 ER. remaining 2x (if 3x on gyftr) will be 12*2.
Here bonus is 24 ER.
a 3x voucher of 200 will get you 35 + 24 = 59 ER.

Also it's all prediction, no one knows how it works until we get it. So let's wait for December!

 

[MilesMax]

I think Accor is not a great deal, mostly for international travel hotels don't matter much, you can get much better value properties than Accor on Airbnb, as most Ibis properties in International locations do not accept Accor points, better to transfer a majority of points to flights like Singapore Airlines.

It's true tbh. There are IBIS hotels in india costing above 50 euros. It makes no sense paying so much for an IBIS.