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

 

[chasni]

Live event mein bhi technical error...LOL

This clearly shows ki sirf customers le liye nahi but internally bhi technical issues hai. Equality to all.

 

[anish1516]

Tech Support waale ka appraisal to gaya iss baar ka

 

[sharad131]

Started again

 

[neo.puneet]

saare cards devalue kar ke faltu adverts dikha rahe event me

 

[chasni]

Somehow I feel that this event is aimed at Axis Bank's employees rather than customers. Why would a customer care for Bank's acquisition strategy? We only care for benefits.

 

[chasni]

Somehow I feel that this event is aimed at Axis Bank's employees rather than customers. Why would a customer care for Bank's acquisition strategy? We only care for benefits.

Saara paise to isme hi laga dia. Card to devalue hone hi the.

Edit: Waste of time.

 

[drsel]

What you are calculating is the lowest possible ERs for the spends.
What if someone spends them smartly by utilizing the TravelEdge at 5x, Gyftr 5x, etc? It could be a 15% return or more.

Also, you are valuing ER at 0.8. That might not be the case for all. for Accor it's valued at 1.44, for Business class ticket redemption it can go up to 2 also.

If your spending only fetches your base rewards then it's probably not worth it.

How did you calculate 1.44 as the value of Accor points

 

[ishanmontella]

How did you calculate 1.44 as the value of Accor points

1 x 4/5 = 0.8
0.8 x 1.8 = 1.44

 

[anish1516]

Bhai ye event hai ya torture hai???

 

[Saarthak Parihar]

Useless event

 

[Saarthak Parihar]

Itne saste graphics use karke bol rahe hain alag alag bande Dubai - London - Toronto mein baith ke conference le rahe hain.. chindi/kanjoos ho gaya hai ax-sux bank

 

[ishanmontella]

Itne saste graphics use karke bol rahe hain alag alag bande Dubai - London - Toronto mein baith ke conference le rahe hain.. chindi/kanjoos ho gaya hai ax-sux bank

And it looks so fuckin fake too Kaunsa CEO karta hai aise? One can clearly see the background through their disappearing hair, and make out it's fake

 

[chasni]

Itne saste graphics use karke bol rahe hain alag alag bande Dubai - London - Toronto mein baith ke conference le rahe hain.. chindi/kanjoos ho gaya hai ax-sux bank

It was a MS Teams feature to change background. You could clearly notice for the Toronto guy.

 

[praneeth999]

What's the point of this live event? This is nonsense even for an internal event restricted to Axis employees as they also don't learn/know anything from it.

 

[ghost of sparta]

Kya hua event mei? Kuch naya info mila?

 

[sharad131]

After looking at the event now I am even more adamant of closing Magnus
I feel pity for Citibank customers....ye log kaise sambhalenge Citi business

 

[Saarthak Parihar]

It was a MS Teams feature to change background. You could clearly notice for the Toronto guy.

Haan vahi ... Confidence dekho bando ke ki bol Raha hai "other leaders are joining us from other places", haan Bhai sab apne apne Ghar se kaam kar rahe hain office mein bhi nahi honge.. jaise public ko pata hi nahi chalega ki nakli background hai

 

[Saarthak Parihar]

Kya hua event mei? Kuch naya info mila?

Haan ki axis Bank walo se ek presentation bhi dhang se nahi ho sakti

 

[K.R]

Haan vahi ... Confidence dekho bando ke ki bol Raha hai "other leaders are joining us from other places", haan Bhai sab apne apne Ghar se kaam kar rahe hain office mein bhi nahi honge.. jaise public ko pata hi nahi chalega ki nakli background

by Other places they mean Naala Sopara

 

[Thomas244]

I just got info from rm that the ltf burgundy only if we maintain 30 lakhs trv. 10 lakhs in aqb is not enough