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

 

[drsel]

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

You are telling me that Edge reward points are worth Rs.1.44, if converted to Accor points (which you WRONGLY assume to be worth Rs.1.80).
I asked for the value of Accor points in reality.

In reality, Accor doesn't let you use all your points for room booking.
So if the max public rate is 12030 (one room for one night,) you cannot use 6000 points (to save 10800) or 8000 points (to save entire 12030) but you are limited to using ONLY 4000 points (to save 7200) and forced to pay the balance 4830 in real cash.

I have seen another thread here (with photo evidence) where only 4000 points could be used to save Rs.7200 (for 1 room booked for 1 night) and Rs.4830 had to paid in cash at the public (much higher) rate of Rs.12030 per room night for a hotel in India.
However the members rate was Rs.9000 including all taxes.

The points can only be used at the higher public rate and not the member rate.
In this photo evidence case, the public rate was around Rs.12030 and the members rate Rs.9000, which means that 4000 points are worth about Rs.9000 - 4830= Rs.4170.
So 1 Accor point is worth around Rs.1.04 and nowhere near Rs.1.80.

Even Accor knows this very well, better than all of us.
Because when you transfer Accor points to any Airline partner, you need to pay double the number of Accor points (2:1 ratio).

 

[SM24]

Tech Support waale ka appraisal to gaya iss baar ka 🤣

I'm sure it was botched up by folks who didnt get good appraisal and who are serving notice period...

 

[ccent]

yes, this is the eligibility to 'open' the account but the eligibility to 'get' the LTG magnus is >3LPM. Select card as usual is complimentary

If after few years we move the salary account to some other bank and do not maintain AQB, still the select card will be LTF?

 

[ishanmontella]

You are telling me the value of Edge reward points, if converted to Accor points (which you WRONGLY assume to be worth Rs.1.80).
I asked for the practical value of Accor points, not theoretical.

Accor doesn't let you use all the points for room booking.
I have seen another thread here (with photo evidence) where only 4000 points could be used to save Rs.7200 (for 1 room booked for 1 night) and Rs.4830 had to paid in cash at the public (much higher) rate of Rs.12030 per room night for a hotel in India.
However the members rate was Rs.9000 including all taxes.

The points can only be used at the higher public rate and not the member rate.
In this photo evidence case, the public rate was around Rs.12030 and the members rate Rs.9000, which means that 4000 points are worth about Rs.9000 - 4830= Rs.4170.
So 1 Accor point is worth around Rs.1.04 and nowhere near Rs.1.80.

Even Accor knows this very well, better than all of us.
Because when you transfer Accor points to any Airline partner, you need to pay double the number of Accor points (2:1 ratio).

In my experience, I have utilized Accor points @ 1.8/- per accor point. I have been to Europe using Accor points and planning another trip to Europe next month, where I have made all the bookings through Accor. It lets me pay by points on all the properties (except ibis budget, which I don’t care about anyways). The price displayed on Accor is almost always better than Agoda, booking.com etc. I have made bookings in 10 different cities in Europe, and made bookings of about 4000 Euros without any issues.

I have used Accor points on always member rate, and so have the many other users here on TF. Accor is useful if you travel internationally frequently, but for domestic travel only, you may not find it useful as others.

 

[CMGCMG is verified member.]

You are telling me the value of Edge reward points, if converted to Accor points (which you WRONGLY assume to be worth Rs.1.80).
I asked for the practical value of Accor points, not theoretical.

Accor doesn't let you use all the points for room booking.
I have seen another thread here (with photo evidence) where only 4000 points could be used to save Rs.7200 (for 1 room booked for 1 night) and Rs.4830 had to paid in cash at the public (much higher) rate of Rs.12030 per room night for a hotel in India.
However the members rate was Rs.9000 including all taxes.

The points can only be used at the higher public rate and not the member rate.
In this photo evidence case, the public rate was around Rs.12030 and the members rate Rs.9000, which means that 4000 points are worth about Rs.9000 - 4830= Rs.4170.
So 1 Accor point is worth around Rs.1.04 and nowhere near Rs.1.80.

Even Accor knows this very well, better than all of us.
Because when you transfer Accor points to any Airline partner, you need to pay double the number of Accor points (2:1 ratio).

1. For 12,030, you could use 6,000 points and pay the rest using a card (if the rate without taxes has crossed 120 EUR).
2. Some hotels in India allow points booking through their app for flexible rates only. You can contact the hotel to book the member rate and later pay with points.
3. Accor has both 1:1 partners and 2:1 partners for airlines.
4. It's a 1.8 value per Accor point. The assumed reward rate before devaluation for Magnus is 4.8%, which already accounts for the 5:4 ratio.

 

[svs_23]

You are telling me that Edge reward points are worth Rs.1.44, if converted to Accor points (which you WRONGLY assume to be worth Rs.1.80).
I asked for the value of Accor points in reality.

In reality, Accor doesn't let you use all your points for room booking.
So if the max public rate is 12030 (one room for one night,) you cannot use 6000 points (to save 10800) or 8000 points (to save entire 12030) but you are limited to using ONLY 4000 points (to save 7200) and forced to pay the balance 4830 in real cash.

I have seen another thread here (with photo evidence) where only 4000 points could be used to save Rs.7200 (for 1 room booked for 1 night) and Rs.4830 had to paid in cash at the public (much higher) rate of Rs.12030 per room night for a hotel in India.
However the members rate was Rs.9000 including all taxes.

The points can only be used at the higher public rate and not the member rate.
In this photo evidence case, the public rate was around Rs.12030 and the members rate Rs.9000, which means that 4000 points are worth about Rs.9000 - 4830= Rs.4170.
So 1 Accor point is worth around Rs.1.04 and nowhere near Rs.1.80.

Even Accor knows this very well, better than all of us.
Because when you transfer Accor points to any Airline partner, you need to pay double the number of Accor points (2:1 ratio).

 

[drsel]

In my experience, I have utilized Accor points @ 1.8/- per accor point. I have been to Europe using Accor points and planning another trip to Europe next month, where I have made all the bookings through Accor. It lets me pay by points on all the properties (except ibis budget, which I don’t care about anyways). The price displayed on Accor is almost always better than Agoda, booking.com etc. I have made bookings in 10 different cities in Europe, and made bookings of about 4000 Euros without any issues.

I have used Accor points on always member rate, and so have the many other users here on TF. Accor is useful if you travel internationally frequently, but for domestic travel only, you may not find it useful as others.

Thanks but I am a budget traveller,.
so I am considering only those Ibis properties which are available to book with Accor points (with the ALL mark).

And I am also comparing these Ibis ALL prices (points+cash) with other city centre budget properties available

On my recent trip to Germany I got city centre budget hotels @Rs.4500--5500 per room night after 35% discount on Cleartrip

 

[austin360]

Fellow colleagues on this thread when it comes to return on investment

 

[austin360]

If after few years we move the salary account to some other bank and do not maintain AQB, still the select card will be LTF?

Not sure, I will apply for select now as no chance of magnus😛.

I feel it should be LTF...Will ask my RM about this

 

[rockysindona]

Nah Japan Airlines is useless, their miles + tax requirement is really high, For Example Delhi to tokyo Economy is 33000 Miles + 27000 Rs Tax that is too much JAL Mileage Bank is Useless i wasted my 50000 ER on that, never transfer to JAL, and you can get Revenue ticket to Delhi to Tokyo for as low as 35000 Rs. so do the math.

They are partners with Emirates, so I was hoping to use those miles to book Emirates flights through the JAL Mileage Bank. Do you have any idea about this?

 

[rockysindona]

Have

Done twice. Each Time credit in JAL exactly on 10 th day

Have you booked partner airlines flight through JAL for instance Emirates is a partner, so miles wise is there any benefits, do you have any info on flight bookings through JAL for partner airlines?

 

[Trust Me]

If after few years we move the salary account to some other bank and do not maintain AQB, still the select card will be LTF?

To have Select free, one needs to maintain the Burgundy status.

 

[rishabk27775]

They are partners with Emirates, so I was hoping to use those miles to book Emirates flights through the JAL Mileage Bank. Do you have any idea about this?

You will never find a flight for emirates..... I have tried never any flight available for emirates

 

[Saarthak Parihar]

If after few years we move the salary account to some other bank and do not maintain AQB, still the select card will be LTF?

No.. it'll become chargeable

 

[kalratush]

Fo

They are partners with Emirates, so I was hoping to use those miles to book Emirates flights through the JAL Mileage Bank. Do you have any idea about this?

For emirates you’ll have to look for flights originating/ending in Dubai. For that you can transfer to Aeroplan/Qantas

 

[ccent]

Not sure, I will apply for select now as no chance of magnus😛.

I feel it should be LTF...Will ask my RM about this

Sure, let us know as well. are you opening Burgandy Acc on the basis of salary or IP (initial funding)

 

[austin360]

Sure, let us know as well. are you opening Burgandy Acc on the basis of salary or IP (initial funding)

I had opened last month on the basis of IP....will be linking to my brothers salary account under family banking

 

[hrish88]

You are telling me that Edge reward points are worth Rs.1.44, if converted to Accor points (which you WRONGLY assume to be worth Rs.1.80).
I asked for the value of Accor points in reality.

In reality, Accor doesn't let you use all your points for room booking.
So if the max public rate is 12030 (one room for one night,) you cannot use 6000 points (to save 10800) or 8000 points (to save entire 12030) but you are limited to using ONLY 4000 points (to save 7200) and forced to pay the balance 4830 in real cash.

I have seen another thread here (with photo evidence) where only 4000 points could be used to save Rs.7200 (for 1 room booked for 1 night) and Rs.4830 had to paid in cash at the public (much higher) rate of Rs.12030 per room night for a hotel in India.
However the members rate was Rs.9000 including all taxes.

The points can only be used at the higher public rate and not the member rate.
In this photo evidence case, the public rate was around Rs.12030 and the members rate Rs.9000, which means that 4000 points are worth about Rs.9000 - 4830= Rs.4170.
So 1 Accor point is worth around Rs.1.04 and nowhere near Rs.1.80.

Even Accor knows this very well, better than all of us.
Because when you transfer Accor points to any Airline partner, you need to pay double the number of Accor points (2:1 ratio).

well i have stayed at Raffles udaipur total bill was 1lac+ and had to pay 481rs only for the rest of amount redeemed the points. also rates were cheaper on Accor website than mmt and others.

so yeah it does give 1.8

 

[shashank08]

Not sure, I will apply for select now as no chance of magnus😛.

I feel it should be LTF...Will ask my RM about this

Select is going to be LTF with Burgundy..
I was trying for LTF Magnus.. RM earlier told me that he tried but didn't get approval.
During July (when all this devaluation things were happening) he told there may things will come and bank is going to provide Magnus LTF to Burgundy customers.

Towards end of Aug, he again called and told the same thing and he said all RMs got the verbal communication that from September onwards Magnus will be LTF for Burgundy..

Now he is saying he is still waiting for official communication from Credit card team..

So as of now clarity regarding what is going to happen.. even RM doesn't have any clarity..

 

[drsel]

Fo

For emirates you’ll have to look for flights originating/ending in Dubai. For that you can transfer to Aeroplan/Qantas

Qantas airmiles have the lowest value of all Axis partners.
See these 2 analyses as proof--

bankrate.com/finance/credit-cards/points-and-miles-valuations/#airline

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