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

 

[shashank08]

In the response of following tweet someone wrote MD desk has also confirmed this devaluation...

 

[amitr29]

Just got the Magnus card 2 days back. Unfortunately, I have activated it.
But I get 10000 reward points along with a Tata cliq voucher.

To joining fees to uth gaya with GST. But iPad or iPhone lene ka mann tha consecutive 2 mahine me....wo to gaya.
Abhi lagta hai SBI Cashback card aur Flipkart Axis e achha hai.

Isn't it only vouchers? I don't think they give 10000 points

 

[CredAshram]

Isn't it only vouchers? I don't think they give 10000 points

They told me the card is FYF. But when I opened the card, it mentioned the joining fees. So, I asked customer support regarding the same, and they told me that your card is not FYF. Then I ask them to connect with the retention team, I want to close the card the right way. Then they convince me not to close the card, they will giving me 10000 reward points.

Now I can understand why they give reward points so easily.

Before entering the party, the party is over.....

Fir se HDFC k paas jana padega infinia ka vik magne k liye.....

 

[Walter White]

They told me the card is FYF. But when I opened the card, it mentioned the joining fees. So, I asked customer support regarding the same, and they told me that your card is not FYF. Then I ask them to connect with the retention team, I want to close the card the right way. Then they convince me not to close the card, they will giving me 10000 reward points.

Now I can understand why they give reward points so easily.

Before entering the party, the party is over.....

Fir se HDFC k paas jana padega infinia ka vik magne k liye.....

Meanwhile HDFC Bank:

 

[VISHESH_BANSAL]

Customer:- woh infinia apply karna thha

HDFC RM:- Phle bolo Infinia Jindabaad🤣

 

[Shubham Yadav]

Customer:- woh infinia apply karna thha

HDFC RM:- Phle bolo Infinia Jindabaad🤣

Then whole TF community to HDFC : Bamboo expert ko bulaye kya?

 

[Consultant]

quick question. Apart from the 10k renewal benefit - what changes for someone who has Magnus & Reserve both?

He will get 6k + 25k for milestone benefit, which can be transferred at 5:4 right since the person owns reserve?

So, only the 10k renewal fee is the challenge. Correct?

 

[deepee]

Customer:- woh infinia apply karna thha

HDFC RM:- Phle bolo Infinia Jindabaad🤣

Infinia Zindabad tha, Zindabad hai aur Zindabad rahega 🙂

 

[Anonymous ツ]

quick question. Apart from the 10k renewal benefit - what changes for someone who has Magnus & Reserve both?

He will get 6k + 25k for milestone benefit, which can be transferred at 5:4 right since the person owns reserve?

So, only the 10k renewal fee is the challenge. Correct?

Kitne masoom users h axis ke or axis kese sabka kaat ke chala gya

 

[deepee]

Its time for @TechnoFino to remove members of Magnus / Reserve from VIP lounge 🙂 as its a base card after devaluation

 

[Deleted member 13981]

quick question. Apart from the 10k renewal benefit - what changes for someone who has Magnus & Reserve both?

He will get 6k + 25k for milestone benefit, which can be transferred at 5:4 right since the person owns reserve?

So, only the 10k renewal fee is the challenge. Correct?

Naah.. 5:1 for Reserve too (as per the leaked pdf).

 

[Walter White]

Customer:- woh infinia apply karna thha

HDFC RM:- Phle bolo Infinia Jindabaad🤣

Accha hua jitna bamboo dena tha unhe timely de diya. 😂

 

[Consultant]

Naah.. 5:1 for Reserve too (as per the leaked pdf).

The header of the pdf only mentions Magnus. There is no Reserve written anywhere.

 

[Anonymous ツ]

The header of the pdf only mentions Magnus. There is no Reserve written anywhere.

There is a seperate Pdf for Reserve and Select card respectively.

 

[Trust Me]

Ab bada issue trust ka hai 😑

Trust issue with Axis has been triggered by this devaluation thing?! I have no Magnus card, but believe me, I haven't missed out any on this Axis trust issue thing! 🙂.

 

[Anonymous ツ]

HDFC Infinia is the best & Super premium credit card of HDFC from almost 12-13 years. Axis Magnus & Reserve abhi 3-4 saal pehle hi aaye to chalte bane

 

[Consultant]

There is a seperate Pdf for Reserve and Select card respectively.

Can you share the pdf here? Paying 59k and devaluing reserve does not make sense. Very few of them hold reserve. Why devalue such a good card.

 

[venkateshr]

HDFC Infinia is the best & Super premium credit card of HDFC from almost 12-13 years. Axis Magnus & Reserve abhi 3-4 saal pehle hi aaye to chalte bane

With the limits of usage per month in Inifinia or DCB how is this any better even against a devalued Axis getting 25k extra edge rewards per month. I'm not clear on this. are there any other benefits in Infinia or DCB that I'm missing?

 

[CCUser_1999]

I am wondering how many points on Magnus are going to be redeemed between today and tomorrow...🤣

 

[mr_vasanth]

My friend got the card today only, in this auspicious devaluation day. 😅

Me too got my 2nd Magnus just today (8th July) and 1st one was delivered on 4th July 😂 First one was cancelled by them due to 3 card policy. Later I converted existing myzone to Magnus.