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

 

[d3rvish]

Is it known if the airport meet and greet service on the Magnus will be offered after September 1? If I'm not wrong, there is no mention of it in the document of T&C's that applies after September 1. Does that mean that benefit has been withdrawn?

 

[kuku1687]

Is it known if the airport meet and greet service on the Magnus will be offered after September 1? If I'm not wrong, there is no mention of it in the document of T&C's that applies after September 1. Does that mean that benefit has been withdrawn?

I think it will continue. I have booked one for November

 

[bigbrain]

Is it known if the airport meet and greet service on the Magnus will be offered after September 1? If I'm not wrong, there is no mention of it in the document of T&C's that applies after September 1. Does that mean that benefit has been withdrawn?

The document highlighted only the changes in terms. So meet and greet will stay even after 1st Sept.
I plan to use it on first week of sept.

 

[SMGROW]

Is it known if the airport meet and greet service on the Magnus will be offered after September 1? If I'm not wrong, there is no mention of it in the document of T&C's that applies after September 1. Does that mean that benefit has been withdrawn?

I have requested meet and greet service with Magnus for international arrival at Mumbai on September 25th.

 

[PapaSierra]

I have a big ticket purchase to be made. I'm wondering whether to use Magnus or other card.
Will I get the reward points in time to convert them at 5:4 ratio before 31 Aug if I make the payment today on 22 Aug?

 

[ARV]

I have a big ticket purchase to be made. I'm wondering whether to use Magnus or other card.
Will I get the reward points in time to convert them at 5:4 ratio before 31 Aug if I make the payment today on 22 Aug?

The points usually come within a week but the official timeline is 12 working days

 

[Sai Ganesh]

Can someone please let me know what is the minimum balance we have to maintain to become eligible for Burgandy Savings Account ?

Also I guess we have to wait till 1st Sep 2023 , for LTF Magnus for Burgandy Customers , am I right ?

 

[PapaSierra]

The points usually come within a week but the official timeline is 12 working days

Can't trust Axis, completed it with my other card.

 

[WhoU]

Can someone please let me know what is the minimum balance we have to maintain to become eligible for Burgandy Savings Account ?

Also I guess we have to wait till 1st Sep 2023 , for LTF Magnus for Burgandy Customers , am I right ?

Bro you shouldn’t spam all threads with same question.

 

[4uziaul]

Bro you shouldn’t spam all threads with same question.

He's considering heading straight to Axis Bank to open a Burgundy account.

 

[deepcards]

Any idea if the add-ons in Axis magnus are free or do they charge any fees for that?

 

[sxchzy]

Any idea if the add-ons in Axis magnus are free or do they charge any fees for that?

free

 

[Warlock27]

Saw an ad for this today https://www.themilesmarket.com/, they gave a quote of 1200$ for 120000 Turkish Miles, which should be roughly ~ 65p per ER. Prices seems to be decent.
Anyone knows if this is legit ?

 

[sxchzy]

Saw an ad for this today https://www.themilesmarket.com/, they gave a quote of 1200$ for 120000 Turkish Miles, which should be roughly ~ 65p per ER. Prices seems to be decent.
Anyone knows if this is legit ?

minimum poinst requirement is 50k
and not sure how will it work
because not sure if ffp allows transfer to other accounts

 

[typhoon]

Saw an ad for this today https://www.themilesmarket.com/, they gave a quote of 1200$ for 120000 Turkish Miles, which should be roughly ~ 65p per ER. Prices seems to be decent.
Anyone knows if this is legit ?

better sell off to me @35 paise for below 1lakh points and 40 paise for above 1 lakh.

 

[sxchzy]

ahh

better sell off to me @35 paise for below 1lakh points and 40 paise for above 1 lakh.

the biznessman

 

[neo.puneet]

ahh

the biznessman

 

[kapoorsanyam]

I’m buying ER points at following prices :

If less than 25k then 45p per ER
If 25k to 1.5 lakh then 50p per ER
If more than 1.5 lakh then 55p per ER

Let me know if anyone is up for selling. Will buy small amounts as well if someone wants to clear up

 

[chowdaryking]

Saw an ad for this today https://www.themilesmarket.com/, they gave a quote of 1200$ for 120000 Turkish Miles, which should be roughly ~ 65p per ER. Prices seems to be decent.
Anyone knows if this is legit ?

With my understanding it’s 1Rs 20p for 1 ER not 65p.

 

[readers900]

Axis Reserve devalued again with Accor Transfer Ratio of 10:1

https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/rstc.pdf