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

 

[Thomas Shelby]

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.

do we get any email if trasnfer is not successful

 

[Swap24]

Can anyone tell me whether rent payment through magnus considered for reward points?

 

[CC-Muncher]

Can anyone tell me whether rent payment through magnus considered for reward points?

nope

 

[rohitb]

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.

Did you get this detail in writing or some deduction by either you or your RM?
Because my RM told me that officially nothing is clear yet and things will unfold clearly on Monday.
(For me portal is showing 5:2, but my account code is that of burgundy, i maintain burgundy balance and also mails I get are for burgundy along with debit card)

 

[Swap24]

Then why this is mentioned in the document

 

[yoloof]

Can anyone tell me whether rent payment through magnus considered for reward points?

You do get reward points. but rent payments are not counted for annual fee waiver or previously the milestone. They are still counted for the accelerated RPs.

 

[raghav101]

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.

No. They don't care.

 

[Sharjeelshaikh]

Koi bewakoof hoga jo ER ke liye 10 lakh nrv maintain karega

 

[Avatar Aang]

Koi bewakoof hoga jo ER ke liye 10 lakh nrv maintain karega

AFAIK, 10L in savings or 30L TRV

 

[MilesMax]

Can anyone tell me whether rent payment through magnus considered for reward points?

nope

It is considered. It is clearly mentioned in the new docs. Upto 50k you'll get reward points.

It should show up as rent in statement. Not utilities.
Eg: Cred works. Bharatnxt does not work anymore.

 

[MilesMax]

AFAIK, 10L in savings and 30L TRV

It's OR not and. 10L savings OR 30L TRV.

 

[vikramsrit]

Koi bewakoof hoga jo ER ke liye 10 lakh nrv maintain karega

kuchh bewakoofon ka salary account bhi hota hai. Aur kuchh bewakoof bank account me liquid cash bhi rakhte hai.

 

[gurbina]

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.

Would like to know about this.

But they'll likely shift the fault onto you for transferring for accounts that aren't yours or accounts where the name doesn't match 1:1 which is the case with most credit card programs and is usually the case for rejection except for Accor with the old vs new account ID issues for those who got their membership.

 

[ltf4ever]

axis myzone cc used to order 40% discount under the code AXIS40. min order 200, max discount 120 rupees.

from this month, I am seeing that the code has changed to AXIS120, and minimum order is 500 for a discount of 120 (24% only).

was this announced officially and I missed it, or did axis pull a sneaky one here?

 

[rohitb]

kuchh bewakoofon ka salary account bhi hota hai. Aur kuchh bewakoof bank account me liquid cash bhi rakhte hai.

10L SB main bhi rakhein tab bhi based on usage math is in favor, but still generalize karna hai based on apna opinion . Theek hai maalik. Seh lenge thoda sa.

 

[ltf4ever]

UPDATE
confirmed this on website... they have devalued it.

 

[004archit]

kuchh bewakoofon ka salary account bhi hota hai. Aur kuchh bewakoof bank account me liquid cash bhi rakhte hai.

Kisi ki income 10cr ho wo 10 lakh kyu na rakhe account me

 

[4uziaul]

UPDATE
confirmed this on website... they have devalued it.

This is old news.

 

[vikramsrit]

Kisi ki income 10cr ho wo 10 lakh kyu na rakhe account me

Mere bhai, Sarcasm hai. 10L in SA is normal for many people. Check the post I replied to.

 

[Dharm]

axis myzone cc used to order 40% discount under the code AXIS40. min order 200, max discount 120 rupees.

from this month, I am seeing that the code has changed to AXIS120, and minimum order is 500 for a discount of 120 (24% only).

was this announced officially and I missed it, or did axis pull a sneaky one here?


View attachment 28428

Old news, Already announced in axis card devaluation news last month.