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

 

[hrish88]

If someone spends around 3 lakh monthly,so after 1.5 lakh do we continue to get accelerated points.

yes if the spends are eligible.check axis pdf it mentions the following

Eligible Spends = [Total Spends in a calendar month – Rs. 1.50 lakhs – Spends on Exclusion list (ref point 4.) – Spends on Travel Edge up to Rs. 2 Lakhs – Rental Payments (incremental spends above Rs. 50,000)] * [23 EDGE Reward Points/Rs.200]

 

[hrish88]

As long as they keep offering 5:4 for burgundy, Magnus is better than Infinia's 3.33% on normal spends. Also for above 1.5L spend Magnus is far better.
Obv it makes sense for those who dont have to move savings to Axis for burgundy account.

magnus with burgandy is also better for flight tickets costing more than 25k.as Infinia has daily and monthly cap.

Edit: i think for burgundy Magnus is anyways better with Travel Edge.as it will fetch a return of 24% compared to 16.66 on infinia

 

[chasni]

For all true burgundy customers, the Axis Edge portal is deactivated as of now. You will be able to access it tomorrow morning onwards with 5:4 conversion. If you think you have a burgundy account and are still able to access the edge reward portal, it means you would not get any benefits and you will get 5:2 conversion only. Check with your RM or customer support in case of this discrepancy.

Source?

 

[Zarieal]

Source?

Axis Burgundy Customer Care. They mentioned the ER portal is being updated for all Magnus+Burgundy users for 48hrs.

 

[chasni]

Axis Burgundy Customer Care. They mentioned the ER portal is being updated for all Magnus+Burgundy users for 48hrs.

You can't trust CC. They will say anything to get you off their back. Let's wait for official details on Monday.

 

[rdargar]

For all true burgundy customers, the Axis Edge portal is deactivated as of now. You will be able to access it tomorrow morning onwards with 5:4 conversion. If you think you have a burgundy account and are still able to access the edge reward portal, it means you would not get any benefits and you will get 5:2 conversion only. Check with your RM or customer support in case of this discrepancy.

My accounts got suspended at 12 AM 01 sep ; In panic I wrote a mail as there was no case of suspension ; they revoked the suspension and did not mention any reason. True burgundy usedr and now I think the suspension was just a glitch. 🙁

 

[Harry1]

My accounts got suspended at 12 AM 01 sep ; In panic I wrote a mail as there was no case of suspension ; they revoked the suspension and did not mention any reason. True burgundy usedr and now I think the suspension was just a glitch. 🙁

Same here.
Although they did mention that suspension is for smooth migration in mail.

I hope reactivation doesn't mess up migration to magnus burgundy.

 

[yolosingh]

I think Axis just made life easier with all the complex rewards. Now I just need to make all spends on DCB and forget about Magnus. Except for BMS 1+1 and EasyDiner

 

[drsel]

magnus with burgandy is also better for flight tickets costing more than 25k.as Infinia has daily and monthly cap.

Edit: i think for burgundy Magnus is anyways better with Travel Edge.as it will fetch a return of 24% compared to 16.66 on infinia

HDFC Infinia has daily & monthly cap of Max 15000 points on max. 90000 spend on airtickets on Smart buy.
HDFC Infinia has daily & monthly cap of max 15000 points on max 45000 spend on Hotels on Smart buy
It is INVITE ONLY, but you can get it with a term deposit in HDFC bank & 14750 joining & renewal fee.

HDFC DCB has daily cap of max 2500 points on max. 15000 spend on airtickets on Smart buy.
HDFC DCB has daily cap of max 2500 points on max 7500 spend on Hotels on Smart buy.
you can get it with 11800 joining & renewal fee.

HDFC Regalia & Diners Privilege both have daily cap of max 2000 points on max. 12000 spend on airtickets on Smart buy.
HDFC Regalia & Diners Privilege both have daily cap of max 2000 points on max 6000 spend on Hotels on Smart buy.

Please correct me if I am wrong.

 

[drsel]

. Now I just need to make all spends on DCB and forget about Magnus.

Wrong! You need to forget about DCB

 

[Thomas244]

It’s amazing that with all these people working at axis and such complex terms and calculations no one could come up with a simple approach to stop point bleeding.
1.stop milestones assess after 2 months of still bleeding
2. put daily point cap if still bleeding
3. reduce all gyftr multipliers. Etc
surely it costs the bank to reissue new Magnus for burgundy

 

[drsel]

Sure? People have earned 10-20 lac points in a year.

How did they manage to earn 10-20 lac edge points

 

[saketreddy]

HDFC Infinia has daily & monthly cap of Max 15000 points on max. 90000 spend on airtickets on Smart buy.
HDFC Infinia has daily & monthly cap of max 15000 points on max 45000 spend on Hotels on Smart buy
It is INVITE ONLY, but you can get it with a term deposit in HDFC bank & 14750 joining & renewal fee.

HDFC DCB has daily cap of max 2500 points on max. 15000 spend on airtickets on Smart buy.
HDFC DCB has daily cap of max 2500 points on max 7500 spend on Hotels on Smart buy.
you can get it with 11800 joining & renewal fee.

HDFC Regalia & Diners Privilege both have daily cap of max 2000 points on max. 12000 spend on airtickets on Smart buy.
HDFC Regalia & Diners Privilege both have daily cap of max 2000 points on max 6000 spend on Hotels on Smart buy.

Please correct me if I am wrong.

Yes, so if you have both infinia and DCB, then use DCB for small flight and hotel bookings (usually domestic) on smartbuy due to its lower cap.

And keep infinia reserved for big ticket smartbuy spends as now there is no weekly cap as well.

 

[shuperman]

HDFC Infinia has daily & monthly cap of Max 15000 points on max. 90000 spend on airtickets on Smart buy.
HDFC Infinia has daily & monthly cap of max 15000 points on max 45000 spend on Hotels on Smart buy
It is INVITE ONLY, but you can get it with a term deposit in HDFC bank & 14750 joining & renewal fee.

HDFC DCB has daily cap of max 2500 points on max. 15000 spend on airtickets on Smart buy.
HDFC DCB has daily cap of max 2500 points on max 7500 spend on Hotels on Smart buy.
you can get it with 11800 joining & renewal fee.

HDFC Regalia & Diners Privilege both have daily cap of max 2000 points on max. 12000 spend on airtickets on Smart buy.
HDFC Regalia & Diners Privilege both have daily cap of max 2000 points on max 6000 spend on Hotels on Smart buy.

Please correct me if I am wrong.

The cap is on the bonus rewards and not on the regular spends.. so 15000 points will come for a max spends of ~112600 for flights and ~50050 spends for hotels.. you can revise your calculations accordingly for DCB and other cards as well

 

[Riva]

Got this in mail. I guess a new card's gonna be one the way soon. I was told my my RM that it's going to be free as long as the Burgundy status holds up. Waiting for the follow up mail and will keep it posted.

Does this mean that Magnus is LTF for Burgundy customers and as long as they maintain that relationship?

 

[austin360]

Does this mean that Magnus is LTF for Burgundy customers and as long as they maintain that relationship?

That's correct

 

[caabhi]

 

[sharad131]

badi jabasdast hype create ki ja rahi hain 🙂

 

[sangalaviral]

End Mein milega

 

[amajethia]

I had transferred some ER points to Accor on 28th, but the transfer was not successful. Today they have credited back the points. I also transferred some points to Thai on 31st, which was successful. What should I do now? Will they transfer the Accor points at 5:4 as an exception as the problem was from their end.