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

 

[mojo_jojo123]

Might not be the best way but I give gift vouchers to some friends at 6-7% discount (assuming I'll convert my ER to Accor). This way they get some good discounts and I end up making more than the discounts I gave.
Just make sure that your total credit cards spends in the FY don't end up being more than your total salary.

which ones at 6-7% discount ?

 

[Warlock27]

which ones at 6-7% discount ?

Anything could work.
Suppose they ask for an Amazon Voucher, I just buy it at 2x rewards. For an amount of 20000, I'll end up getting 1200 ER immediately and rest 1200 ER after 90-120 days. Assuming I transfer 1200 ER immediately and rest 1200 ER after I get them, I'll get around 1200*0.8 + 1200*0.4( 5:2 conversion post devaluation) = 1440 Accor Points, which are approximately equal to Rs.2500.
I give them at a discount of 6-7% which is equal to Rs.1200-1400. They end up saving some and I end up getting benefits in miles.
You can try this for annual benefit.
Note: Post September 1, the transfer ratio will change for initial 1200 ERs as well, in total you'll get 960 ERs which will be approximately equal to Rs. 1700 in Accor. Not the best deal but still OK I suppose.

 

[rohitb]

Just make sure that your total credit cards spends in the FY don't end up being more than your total salary.

I use my credit card for myself and wife. It's most probably going to go beyond my salary but below our combined salaries. Will I be in trouble ?

 

[Deathsnatcher]

I use my credit card for myself and wife. It's most probably going to go beyond my salary but below our combined salaries. Will I be in trouble ?

NO

 

[Warlock27]

If someone has a working JAL account, can they please help me with the minimum miles required in Economy and Business (JA and/or partner airlines) from Hyderabad to Amsterdam flight, and from Venice to Hyderabad flight? Any dates in June 2024 should be fine.
I have around 80k ER pending that I want to transfer to an airline. I created a JAL account in July so still can't access it before 1st September.
Thanks in advanced.

 

[sxchzy]

i

If someone has a working JAL account, can they please help me with the minimum miles required in Economy and Business (JA and/or partner airlines) from Hyderabad to Amsterdam flight, and from Venice to Hyderabad flight? Any dates in June 2024 should be fine.
I have around 80k ER pending that I want to transfer to an airline. I created a JAL account in July so still can't access it before 1st September.
Thanks in advanced.

guess you can transfer it immediately but not use it until 60 days

 

[Warlock27]

i

guess you can transfer it immediately but not use it until 60 days

Yeah I can transfer but I can't see any miles prices for any tickets (like we can do in KrisFlyer or Turkish). So just want to confirm with someone if I'm getting a better value in JAL then I'll transfer there.

 

[sxchzy]

Yeah I can transfer but I can't see any miles prices for any tickets (like we can do in KrisFlyer or Turkish). So just want to confirm with someone if I'm getting a better value in JAL then I'll transfer there.

from what i have heard that the miles requirement ,if you transfer it to your account you will be able to see the miles requirement

 

[rogerthat]

Hello, I am willing to sell 72000 ER points at 0.6. Anyone interested to buy please DM me.

 

[Ashutosh007]

Hello, I am willing to sell 72000 ER points at 0.6. Anyone interested to buy please DM me.

How do I DM you?

 

[mojo_jojo123]

I have 1.1L Edge rewards now .. is it safe to transfer it to accor .. what if accor devalues them ? don't have plans to travel in next 6months - 1year

 

[MilesMax]

I have 1.1L Edge rewards now .. is it safe to transfer it to accor .. what if accor devalues them ? don't have plans to travel in next 6months - 1year

If accor devalues it then transfer it to Avios from Accor at that time.

 

[kapoorsanyam]

Heyy, I am willing to buy ER points @Rs0.5 per ER. Any one willing to sell please connect . Thanks !!

 

[kapoorsanyam]

Hello, If someone has a working JAL account, can you please connect. I need to check the prices and miles required for certain routes on some dates. I created an account recently but unable to see reward flights till 60 days. If anyone can connect and help me out, that would be a great help. Thankss !!

 

[VijayflyRaven]

I have 1.1L Edge rewards now .. is it safe to transfer it to accor .. what if accor devalues them ? don't have plans to travel in next 6months - 1year

Nothing is 100% safe. But chance of Accor devaluation is less compared to 100% certainty of Axis ER.

If you want to reduce risk , diversify with Accor and ITC.

 

[kpravinramesh]

Hey I want to clarify something .
I was issued this card on January this month .
What is the spend bases annual waiver is it 15 lacs for me or 25 lacs . ?? Plz help ..

 

[Akashgore10]

Hey I want to clarify something .
I was issued this card on January this month .
What is the spend bases annual waiver is it 15 lacs for me or 25 lacs . ?? Plz help ..

15 lakhs

 

[mojo_jojo123]

Nothing is 100% safe. But chance of Accor devaluation is less compared to 100% certainty of Axis ER.

If you want to reduce risk , diversify with Accor and ITC.

does it make sense to transfer 20-30k to ITC given that there hotels are very expensive and would make it for 1 night only

 

[MilesMax]

does it make sense to transfer 20-30k to ITC given that there hotels are very expensive and would make it for 1 night only

At 30k ER you can even get 3nights in some ITC hotels. Sometimes more than 3 if you consider welcomhotels and Fortune which are cheaper than ITC luxury collection hotels

 

[ask10]

Hello, I am willing to sell 72000 ER points at 0.6. Anyone interested to buy please DM me.

Sent you a DM