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

 

[Vickymaster1010]

so

5:4 for burgundy account holders and 5:2 for others

25k will be valued 10k in place of 20k correct if i transfer to itc?

 

[ALOAK]

so

25k will be valued 10k in place of 20k correct if i transfer to itc?

Yup

 

[vigneshn92]

Looks like there's some news that points on the entire 1.5L+ spends will be given 35ER points per 200 rather than just for spends after 1.5L after devuation.

 

[Sharjeelshaikh]

Looks like there's some news that points on the entire 1.5L+ spends will be given 35ER points per 200 rather than just for spends after 1.5L after devuation.

With milestone gone and redemption at 5:2 this is still garbage..pehle 1 lac hit karne ka tension ab 1.5 lakh ka don't fall in this trap of overspends especially jab electricity and tax are no longer. Earning ER except 20 k Amazon pay

 

[rogerthat]

Looks like there's some news that points on the entire 1.5L+ spends will be given 35ER points per 200 rather than just for spends after 1.5L after devuation.

LOL Axis suddenly understood the damage they caused to themselves and are now tying themselves up in little knots trying to undo it. At first the was the massive Burgundy confusion. And now this.

And yeah this if true just makes the card only way too complicated. Trying to achieve 1.5L spends a month excluding government, insurance, rent and utilities? Yeah good luck. I don't want to that kind of headache and tension in my life over a credit card thank you very much. And that too just for a measly 0.4x miles!

There is no need of all this rocket science. All that Axis needs to do to redeem the Magnus product is to do this.

1. 12 ER per Rs.200
2. 5:4 transfer ratio
3. 10k renewal voucher

No milestones, no complicated spend linked bonus. Simple and Straightforward like Infinia. That's what people like.

 

[rogerthat]

Looks like there's some news that points on the entire 1.5L+ spends will be given 35ER points per 200 rather than just for spends after 1.5L after devuation.

And even if this is true, at 5:2 you will be getting 7% return on 1.5L spends compared to 24.8% earlier on 1L spends at 5:4. So totally not worth the tension and headache. And given it is Axis you never know when they are going to pull the carpet out from under your feet.

 

[Zarieal]

And even if this is true, at 5:2 you will be getting 7% return on 1.5L spends compared to 24.8% earlier on 1L spends at 5:4. So totally not worth the tension and headache. And given it is Axis you never know when they are going to pull the carpet out from under your feet.

I think you're missing the point here. If this is true, you don't need to achieve 1.5L spends. All spending will give you a RR of flat 7% irrespective of the amount spent through your card. No card is giving this much return. Also, that 24.8% is not feasible in the long run. Be grateful that you got the opportunity to earn 24.8% RR on your CC spending. Not only India, but no card in the world has given a RR of 24.8%.

 

[rogerthat]

I think you're missing the point here. If this is true, you don't need to achieve 1.5L spends. All spending will give you a RR of flat 7% irrespective of the amount spent through your card. No card is giving this much return. Also, that 24.8% is not feasible in the long run. Be grateful that you got the opportunity to earn 24.8% RR on your CC spending. Not only India, but no card in the world has given a RR of 24.8%.

Well if they're going to give 35 ER per 200 for ALL spends and not just for 1.5+L spends then yes absolutely it would make a comeback as the best card in the business. I agree the earlier reward rate was not sustainable.

 

[ALOAK]

Phir se naya khand Axis se. Like chameleon they keep changing Ware wah Axis bank log. Abhi is pe bahut charcha hog aur ek admi phir like hayaga hack phir wohi patches hog.. 😂

 

[Sharjeelshaikh]

Is card ka year khatam hote hi tata goodbye khatam gaya

 

[SSSandy]

If the spends above 1.5L would make 35ER for all the spends, then:

Spend 1,50,000 = 9,000ER
Spend 1,50,200 = 26,285ER

For Non-Burgundy, = 3600 and 10514 ER
For Burgundy(Limited Time) = 7200 and 21028 ER

So it would be
NB - 2.4%
150k+ NB - 7%
Burgundy - 4.8%
150k+ Burgundy - 14%

 

[sharad131]

Before making so many calculations let's confirm even if 35 ER on 200/- is on spend above 1.5L only or it includes spend below 1.5L as well after reaching the threshold of 1.5L 🙂)

 

[SSSandy]

Before making so many calculations let's confirm even if 35 ER on 200/- is on spend above 1.5L only or it includes spend below 1.5L as well after reaching the threshold of 1.5L 🙂)

This is w.r.t to this post:

Looks like there's some news that points on the entire 1.5L+ spends will be given 35ER points per 200 rather than just for spends after 1.5L after devuation.

 

[navam]

I think axis has only one goal in mind "yeh thread nhi marna chahiye! Isko zindagi bhar chalana hai"

 

[CVR]

Looks like there's some news that points on the entire 1.5L+ spends will be given 35ER points per 200 rather than just for spends after 1.5L after devuation.

This doesn’t make any sense. Pdf is very clear in my view. 12 per 100 for spends upto 1.5 lakhs and 35 per 100 for spends above 1.5 lakhs..

 

[Andy1]

People who have lots of free time only are going to do all this analysis for Magnus. AXIS doesn't understand that this is going to kill their genuine customers in long run as Many people may not take Axis Cards now because of reliability issues.

 

[Warlock27]

With everything about Magnus in the air, what do you guys think of Citi Prestige as an alternative?
On paper, it looks to be simple and no bullshit card with 4% miles on domestic and 3.82% on international.
I'm eligible for a swap (as confirmed by Customer care) but I'm afraid to apply as I fear that Axis might F**k up CITI card in a year or two as well.

 

[rogerthat]

I fear that Axis might F**k up CITI card in a year or two as well.

You can totally count on it.

 

[navam]

People who have lots of free time only are going to do all this analysis for Magnus. AXIS doesn't understand that this is going to kill their genuine customers in long run as Many people may not take Axis Cards now because of reliability issues.

I don't know man, I'm sure people will come flocking back if they launch another og magnus like returns card.

Cause " the whole thing is that ke bhaiya sabse bada rupaiya"

 

[bala.sakthi1983]

With everything about Magnus in the air, what do you guys think of Citi Prestige as an alternative?
On paper, it looks to be simple and no bullshit card with 4% miles on domestic and 3.82% on international.
I'm eligible for a swap (as confirmed by Customer care) but I'm afraid to apply as I fear that Axis might F**k up CITI card in a year or two as well.

Do you have any other alternative card? i want to get atleast 3% return on my spends. Currently I'm holding Axis Magnus, ICICI APay, SBI simply save, SC Reward.

No longer I'm gonna use Magnus, I have no idea which one to use further? Any suggestions? @TechnoFino @vigo @Vikram7111 @amalbinu