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

 

[chowdaryking]

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.

Bro try using ur JAL miles for other partner airlines something btr than the JAL.

 

[hrish88]

Exactly.
Also 45k - 15k (renewal fee) = 30k
also, 1L additional Accor points or ITC points from (5:4 rather than 5:2) are worth a lot more than 30k INR.

Is it official about fee waiver?i have not received anything from bank.the mail i received only mentioned about a new magnus card.

 

[Ramakgmc]

Does SBI-Aurum deserve a place after the Magnus catastrophe, especially for those who cannot get a hold on Infinia? What is your opinion?

SBI Aurum - Does it deserve a place after the Magnus catastrophe and for those who cannot get hold of Infinia?

Nobody is looking at SBI Aurum seriously. Should we consider it with the Magnus catastrophe, especially if you cannot get hold of Infinia? 1% cash reward rate - No major exceptions (including government, insurance, etc.) 1 Lakh per month - 1500 Tata Cliq cash voucher Milestone benefits - 5K Tata...

www.technofino.in

 

[drsel]

Does SBI-Aurum deserve a place after the Magnus catastrophe, especially for those who cannot get a hold on Infinia? What is your opinion?

SBI Aurum - Does it deserve a place after the Magnus catastrophe and for those who cannot get hold of Infinia?

Nobody is looking at SBI Aurum seriously. Should we consider it with the Magnus catastrophe, especially if you cannot get hold of Infinia? 1% cash reward rate - No major exceptions (including government, insurance, etc.) 1 Lakh per month - 1500 Tata Cliq cash voucher Milestone benefits - 5K Tata...

www.technofino.in

Avoid it completely
Best SBI card is SBI cashback card for 5% online with many exceptions.
2nd best is SBI BPCL Octane for 1+6.25% for fuel

 

[Avatar Aang]

Avoid it completely
Only SBI cashback card is worth having.

BPCL Octane is also good

 

[drsel]

1) Is it worth buying international air tickets on Travel edge to get 60 points per Rs.200 using Magnus?

2) How overpriced are these tickets compared to --
a) the airline website
b) Online agents like MMT, Cleartrip, etc, which give 10% discount on international air tickets with various cards, (but charge convenience fees)?

 

[drsel]

Are there any good deals left on Gift edge & Grab deals ?
Earlier on Grab deals, Marks & Spencer had 40x and many had 10x.
Now I see only 3x and 5x on both platforms

 

[SM24]

1) Is it worth buying international air tickets on Travel edge to get 60 points per Rs.200 using Magnus?

2) How overpriced are these tickets compared to --
a) the airline website
b) Online agents like MMT, Cleartrip, etc, which give 10% discount on international air tickets with various cards, (but charge convenience fees)?

They mostly aren’t overpriced or marginally are.

Buying from airline website gives you fare bucket options -
ie. Flexibility.

Aggregator discounts are 10K max.

1L worth of tickets on Travel Edge gives you 30K points.

No brainer, if you know how to utilise the 30K points.

 

[Zarieal]

Anyone with Burgundy+Magnus users getting 5:4 on portal now?

 

[kalratush]

Nope nothing yet

Anyone with Burgundy+Magnus users getting 5:4 on portal now?

 

[Pawan_KS]

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

i confirmed from axis customer care via email but they denied such thing mentioning the following:

"We regret to inform you that, currently as per our bank policies we are not sourcing life time free credit-card.

However, in future is there any possibilities our bank team will notified you via SMS on your registered mobile number."

 

[Pawan_KS]

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

Jinka burgundy salery account hota hai they dont need to keep the liquid cash in savings account, just credit of salary is the criteria.

 

[Zarieal]

Jinka burgundy salery account hota hai they dont need to keep the liquid cash in savings account, just credit of salary is the criteria.

Bhai apko 5:4 mil raha h after the update?

 

[Pawan_KS]

Bhai apko 5:4 mil raha h after the update?

Sorry bro couldn't check as i have transferred all points except 200ER on 30th Aug, didnt know minimum point required for transfer is 300.
Will update the transfer ration once i accumulate ER points more than 300.

 

[vikramsrit]

Jinka burgundy salery account hota hai they dont need to keep the liquid cash in savings account, just credit of salary is the criteria.

I know, mera bhi hai

 

[vikramsrit]

Bhai apko 5:4 mil raha h after the update?

This is likely to resume from 11th September 2023. Right now, Rewards Redemption is temporarily unavailable.

 

[Zarieal]

This is likely to resume from 11th September 2023. Right now, Rewards Redemption is temporarily unavailable.

Do your account show suspended when you login to travel edge portal?

 

[Pawan_KS]

Do your account show suspended when you login to travel edge portal?

Mine is not showing. its working normal.

 

[drsel]

They mostly aren’t overpriced or marginally are.

Buying from airline website gives you fare bucket options -ie. Flexibility.
Aggregator discounts are 10K max.

1L worth of tickets on Travel Edge gives you 30K points.
No brainer, if you know how to utilise the 30K points.

Now after the 5:2 ratio of conversion, is it better to use 30000 points for 12000 multi brand voucher or 12000 Accor points (if I only want city centre budget hotels like Ibis)?

I'm not sure if it's worth keeping 10 lakhs idle in a burgundy savings account just to get 5:4 ratio, or 30 lacs in fixed deposits to get the same 5:4 ratio

 

[rdargar]

Do your account show suspended when you login to travel edge portal?

I tshowed suspended , I wrote a mail to premium CC and now its working fine. (True Burgundy customer)