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

 

[rogerthat]

Bhai, I have to pay 1 crore in advance tax every year, from this year.
Please share how to best utilise this.
till now, i was doing this thru 3 magnus cards

Sorry bhai, you are way out of my league! Only thing I can think of is SBI Aurum.

 

[Akashgore10]

As per the TNC , ER’s are still not segregated
So if you have Reserve , you can earn milestone in Magnus and redeem as per Reserve rate

I hope this is true..someone will need to confirm this post devaluation

 

[VGisHere]

I hope this is true..someone will need to confirm this post devaluation

But even Reserve is devalued on similar lines! 🤷‍♂️

 

[captaintorchtm]

I hope this is true..someone will need to confirm this post devaluation

Lol no. reserve is also devalues as same rate as magnus for conversion, 5:1

 

[MOHITM]

I just had a word with the Airport guy who had given me Magnus in June.

He said that he hasn't got any official communication from Axis Bank. The Bank is closed on Sat and Sun. All communication would be received directly on Monday.

If the news is true than it will be a very big disappointment. I got my card 4 days ago. I have also applied for additional Add-On cards. I have put lot of time and effort in getting this card and applying for AddOn Card.

 

[VijayflyRaven]

Can we do a poll on this if it is fake or real? The results and fact (that we will know by next week) will be interesting to see.

 

[Akashgore10]

Lol no. reserve is also devalues as same rate as magnus for conversion, 5:1

Where is it written that reserve transfer ratio is also 5:1

 

[1RC]

I highly doubt it's legit. Itna devaluation possible nhin hai .. that too on a product which is helping them gain so many high spending customers and who in turn are providing them free publicity. So many new customers are even opening accounts with Axis just to get hands on magnus.

Mostly its fake. If at all it's released by axis, it would be just to gauge the mood of the community ki itna devaluation par kaisa reaction ayega. 5:1 se baad mein agar 5:3 ya 5:2 bhi hua to community would be happy considering 5:1 nhin hua.

PS : I don't have a magnus yet. If at all it's true even 1%, no way I will spend 11.8k on such a bullshit card then. Ltf DCB zindabad

Problem is - not all Magnus customers are high spenders. I personally think, majority of the customer base just came in with the demand fad.

 

[Slayer]

Where is it written that reserve transfer ratio is also 5:1

Neo/Buzz ko zyada nahi bolna chahiye

 

[captaintorchtm]

Where is it written that reserve transfer ratio is also 5:1

There are lots of docs on twitter, this thread doesn't have all the images.

 

[Deleted member 9785]

Air vistara has a lot of international destinations. New ones like Bali is coming.

Easy and no headache. In coming days, you never know stock of miles of popular partners may again go away of vistara/accor.

Advisors will keep people trapped in complex partners for obvious reasons.

 

[vishnucn]

Transferred all my points to accor, don't want the last minute rush to transfer points

 

[amitalpha]

Neo/Buzz ko zyada nahi bolna chahiye

why so much discrimination 🙁, he is reluctant to read whole thread and speaking out of fear

 

[amitalpha]

at least who recently got this card will get 10k Tata voucher

 

[CCUser_1999]

Neo/Buzz ko zyada nahi bolna chahiye

@TechnoFino : Is this kind of behavior and language acceptable?

 

[CCUser_1999]

Air vistara has a lot of international destinations. New ones like Bali is coming.

Easy and no headache. In coming days, you never know stock of miles of popular partners may again go away of vistara/accor.

Advisors will keep people trapped in complex partners for obvious reasons.

Agree but only joker in the pack is AirIndia and Vistara merger. We don't know how it will impact the program.

 

[hungryPanda]

Agree but only joker in the pack is AirIndia and Vistara merger. We don't know how it will impact the program.

waha bhi katega hee i cant see value increase with merger.

 

[anirban.choudhuryanirban.choudhury is verified member.]

I hope this is true..someone will need to confirm this post devaluation

Reserve is also devalued at same scale

 

[Deleted member 9785]

waha bhi katega hee i cant see value increase with merger.

2-3 lac cv points can also be easily used in a france trip for family

Book Flights & Check In Online | Vistara

Enjoy 3 cabin classes, gourmet food, complimentary inflight entertainment, award-winning inflight service and more! Book your ticket with https://www.airvistara.com.

www.airvistara.com

 

[CCUser_1999]

waha bhi katega hee i cant see value increase with merger.

It will increase the available routes but I fear the availability of seats and point value may go down. Air India has significantly low point value as compared to Vistara