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

 

[typhoon]

I AM BUYING MAGNUS POINTS KINDLY MESSAGE ME.

 

[Harry1]

A digress as I couldn't find a thread. I recently used Magnus for payments outside India. All my spends have been charged forex markup of 2 pct + GST, my hotel bill payment of Rs.52k has for some reasons been classified as Rent payment.

Good part: charged rent charges of 1pct + GST instead of forex charges of 2pct + GST, hence savings of Rs 520 + GST.

Bad part: ER capped at 3000 at it's been classified as a rent pay. But doesn't make a big difference as I lose out on only 120 miles for the capping and will not get 10 pct extra ER for international spends as per an ongoing offer. So total loss of ER is 420.

Given the above, I don't want to take up with CC for correction. Any other views?

It won't count towards 1L milestone too.

 

[rockysindona]

Can anyone please reply?

But isn't there like a 60 day period or something like that between linking partners on the axis portal and transferring the edge reward points?

 

[saketreddy]

Can anyone please reply?

No.

The 60 day time period is to update a secondary/new partner loyalty ID.

 

[anup4solutions]

No correction will be done.
Your hotel classified itself under rent mcc for some reason
So it will be considered as rent

Hmm, ok. I am surprised as the hotel was Taj hotel.

 

[anup4solutions]

It won't count towards 1L milestone too.

It won't count towards 1L milestone too.

Ok, noted. I am indifferent to this as I have clocked 1L from other spends..

 

[rockysindona]

That's exactly what I asked, i already had previously added Mariott bonvoy as a LinkedIn partner 3 months or 90 days back. If I want to add an airline partner now, do i have to wait for 60 days before transferring my points there? Because someone here said I can add any new partner and immediately transfer the points.

No.

The 60 day time period is to update a secondary/new partner loyalty ID.

 

[rockysindona]

Has anyone done this? Also, once you add a second partner, can we still transfer points to the first one or do they get removed automatically?

No.

The 60 day time period is to update a secondary/new partner loyalty ID.

 

[sxchzy]

Hmm, ok. I am surprised as the hotel was Taj hotel.

no idea why taj would do so

 

[UKJ]

Yes, you can keep adding new airline and hotel partners back to back.

For the time being you can add multiple partners. This will change from Sept 1.

 

[thanix]

That's exactly what I asked, i already had previously added Mariott bonvoy as a LinkedIn partner 3 months or 90 days back. If I want to add an airline partner now, do i have to wait for 60 days before transferring my points there? Because someone here said I can add any new partner and immediately transfer the points.

Now you can add any number of hotel and airlines partner. Restrictions are only after 1 Sep

 

[thanix]

no idea why taj would do so

I used DCB in a trip to Europe. A souvenir shop is categorized as apartment. So didn't get any points. Luckily first rent payment is free in HDFC. Otherwise it would have been terrible.

 

[sxchzy]

I used DCB in a trip to Europe. A souvenir shop is categorized as apartment. So didn't get any points. Luckily first rent payment is free in HDFC. Otherwise it would have been terrible.

foreign countries merchants are much more hopeless than india

 

[chowdaryking]

That's exactly what I asked, i already had previously added Mariott bonvoy as a LinkedIn partner 3 months or 90 days back. If I want to add an airline partner now, do i have to wait for 60 days before transferring my points there? Because someone here said I can add any new partner and immediately transfer the points.

Bro just chill and create your choice of airline partner and it will be linked momentarily as u confirm the OTP.
Once u done with that u can start point transfer ER to airline miles.

 

[deepcards]

I heard from a RM (whom I contacted to open a burgundy salary account and LTF magnus) that the burgundy + magnus 5:4 transfer is temporary, it's going to change probably in some time, most likely March 24. Any body here knows anything with this respect?

 

[anup4solutions]

I heard from a RM (whom I contacted to open a burgundy salary account and LTF magnus) that the burgundy + magnus 5:4 transfer is temporary, it's going to change probably in some time, most likely March 24. Any body here knows anything with this respect?

Let's use it till it's 5:4..

 

[mojo_jojo123]

burgundy salary account will give 5:4 only if pre month salary creidit is > 3L ? what if some month salary credit is 2.5 ?

 

[K.R]

That's exactly what I asked, i already had previously added Mariott bonvoy as a LinkedIn partner 3 months or 90 days back. If I want to add an airline partner now, do i have to wait for 60 days before transferring my points there? Because someone here said I can add any new partner and immediately transfer the points.

Hi Rocky
My answer was for the partner and not Axis. There is no restrictions from the partners. Yes Axis had recently introduced restrictions on adding/linking partners in their site.even the Axis restrictions might be applicable only from 1st Sep as few mentioned above

 

[K.R]

Thanks. This info helps 🙂

Main member doesn't need to travel.

Can book for others without member travel.

 

[mojo_jojo123]

to register accor in axis gift edge , we have to give accor id without spaces or with spaces as it is shown in accor site ? also can I start transferring immediately ?