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

 

[bigbrain]

Have initiated a transfer of some miles into krisflyer on 27 july but points still not received yet.Krisflyer account is verfied and have done a transfer earlier as well.What to do now?

Same problem with me. I also transferred on 27th July. I needed to book flights waiting for these points. I have transferred 4 times successfully so far.

I am thinking of waiting till 7th august and writing email to customer care

 

[Virgo]

Absolutely. Apart from Magnus, i got 1% return of other cards. usually i spend 1L to 1.5 L per month on Magnus and around 20 to 30k on other Life time Free credit cards. I really felt bad after seeing that Axis devaluation news.

Still I'm looking for close to Magnus.. Not sure how long it's gonna take..

Have you considered Atlas?

 

[kapsshah42]

Same problem with me. I also transferred on 27th July. I needed to book flights waiting for these points. I have transferred 4 times successfully so far.

I am thinking of waiting till 7th august and writing email to customer care

On which id will be sending the email?

 

[Warlock27]

Does anyone know if jewellery spends will be considered under annual milestones post 1st September ?

 

[navam]

Does anyone know if jewellery spends will be considered under annual milestones post 1st September ?

It's not mentioned in the exclusion list so should be considered.

 

[svs_23]

Does anyone know if jewellery spends will be considered under annual milestones post 1st September ?

Yes they will be.
No mention of Jewellery category being excluded.

 

[bigbrain]

On which id will be sending the email?

Planning to send email to premium.experience@axisbank.com

 

[bala.sakthi1983]

Have you considered Atlas?

I do not travel much, Also I'm not impressed with Atlas Miles. Still seeking for better card.

 

[rogerthat]

Sorry but I am an utter newbie in the selling of points regard. What is the procedure to transfer points to another ER account? Is that even possible? Won't Axis block the card?
Or is it that we can transfer points to any loyalty account (hotels/airlines)? Wouldn't there be a check to confirm if the card and loyaltyaccounts both belong to the same person?
Again apologies if I come across as a noob.

 

[typhoon]

Anyone looking to sell points, can message me. 🙂

 

[Trio]

Same problem with me. I also transferred on 27th July. I needed to book flights waiting for these points. I have transferred 4 times successfully so far.

I am thinking of waiting till 7th august and writing email to customer care

I guess some issue with ER points getting converted to Krisflyer points.My request on 28th Jul also pending.

 

[bigbrain]

I guess some issue with ER points getting converted to Krisflyer points.My request on 28th Jul also pending.

Yeah. Singapore airlines app was showing that they are upgrading the system and Apple Pay was disabled for for few days. Rest was working normal. There could be some issue with them

 

[chowdaryking]

I also transferred previously on 25th July to Singapore and it was small amount and got credit on 31stJuly. Now I have transferred again yesterday but this time it’s big fat ER hopefully this will be transferred successfully finger’s crossed.

 

[punpher]

Just to give heads up axis is now intentionally delaying the payment credit to account. As Citi Bank use to do.

Perhaps this is giving hint that all this Citi Bank team is mastermind behind the devaluation mess

 

[_ayush]

I am not sure where should I transfer my edge rewards. I will be getting around 50k edge rewards this month. I am confused between Ethiad, Singapore or Accor. I also have DCB with around 20k points which allows 1:1 conversion to accor. So wondering whether I should use that for accor and use ER for flight miles.

 

[gurbina]

Sorry but I am an utter newbie in the selling of points regard. What is the procedure to transfer points to another ER account? Is that even possible? Won't Axis block the card?
Or is it that we can transfer points to any loyalty account (hotels/airlines)? Wouldn't there be a check to confirm if the card and loyaltyaccounts both belong to the same person?
Again apologies if I come across as a noob.

You're correct.

The rule is that you can only transfer to your own accounts. From others cards I have the name must match and sometimes even other details such as email id.

But Axis or whoever manages transfers, doesn't. I haven't heard of anyone trying lately as they seem to be more careful and thorough lately. Instant transfers aren't instant anymore and seems like they're scrutinizing before letting them through.

But as per TnC of most of these loyalty programs and Axis, it is NOT allowed.

There's a risk of losing your points and getting these accounts suspended.

 

[chowdaryking]

I am not sure where should I transfer my edge rewards. I will be getting around 50k edge rewards this month. I am confused between Ethiad, Singapore or Accor. I also have DCB with around 20k points which allows 1:1 conversion to accor. So wondering whether I should use that for accor and use ER for flight miles.

I would suggest if ur intention is to transfer ER to miles then Singapore is btr than Ethiad.
Reason behind it is very simple, Singapore award chart is much btr than Ethiad.
For your information there are much btr options as well.
Such as :-
If u can fly international out of Mumbai or Delhi I will strongly recommend for Turkish airlines is best option for EU and USA or in fact any country towards West of India, best part with Turkish is u can book any time as award seats availability very good & very easy to book, If u plan ahead n bit flexible with travel dates u can find promo award seats, example normally economy ticket Mumbai to Zurich 30,000 miles if u find promo it’s only 19000 miles.
So, If ur travel is towards EU or UK or USA Turkish is best option( only if ur intended to fly out of Mumbai or Delhi ).
OR
If ur travel is towards Asian countries or NZ & Australia then ur option is Singapore airlines.

 

[Salvo08]

Guys just to clarify. Insurance premium gets counted for monthly milestone on Magnus. Am I right? With so many devaluations, there's utter confusion.

 

[PiperatGatesofDawn]

Sorry but I am an utter newbie in the selling of points regard. What is the procedure to transfer points to another ER account? Is that even possible? Won't Axis block the card?
Or is it that we can transfer points to any loyalty account (hotels/airlines)? Wouldn't there be a check to confirm if the card and loyaltyaccounts both belong to the same person?
Again apologies if I come across as a noob.

Most airlines and hotels programs allows you to transfer miles/points to a third party usually for a fee. MB does it for free with annual caps.

Transferring from bank to airlines/hotels needs a name match.

 

[PiperatGatesofDawn]

Guys just to clarify. Insurance premium gets counted for monthly milestone on Magnus. Am I right? With so many devaluations, there's utter confusion.

Yes. Rules for insurance remains the same.