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Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

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bugmenot

bugmenot

TF Legend
-- 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


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


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

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

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
 

Attachments

Last edited:
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Let's see things from a win-win perspective. Even in the current format the Magnus with Burgundy will provide super-normal benefits. The customer benefits from that. But how will the bank benefit? Not through those customers who only want to "milk" the card. But from those customers who route high value transactions through the bank, whether through savings, FDs, salaries, etc. They're offering a super-premium card for super-premium customers. As long as the customers play fair the bank will play fair. It's only natural.
 
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rpsadarangani said:
I applied today for the Magnus card, where there was zero joining fees or Annual Fees until I manage my Burgundy status for same.

Also open a Burgundy for my sister as well.

I maintain my status via Salary currently. But soon planning to move funds in the accounts as HDFC is giving hard time since past 7 month with account upgrade.

Attach is the sms I received from them
View attachment 28611
Click to expand...


What was the process that you followed? I am thinking that you may fall under some criteria that has been now set by Axis for the free Magnus + Burgundy. The new Burgundy account the you opened for your sister also qualified for this offer? Also is this FYF or LTF?
 
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UKJ said:
Let's see things from a win-win perspective. Even in the current format the Magnus with Burgundy will provide super-normal benefits. The customer benefits from that. But how will the bank benefit? Not through those customers who only want to "milk" the card. But from those customers who route high value transactions through the bank, whether through savings, FDs, salaries, etc. They're offering a super-premium card for super-premium customers. As long as the customers play fair the bank will play fair. It's only natural.
Click to expand...

In my opinion, I think axis will put a spend based condition for certain features on the card, if they DO decide to give Magnus LTF to Burgundy holders. Currently the Select card for Burgundy is LTF, however international lounges access requires spends to be done in the first year to get the renewal in the next year.Then issuing a card LTF would make sence as it will be spend based to avail features on the card.
 
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Is it worth paying 59000 for the burgundy private card to get 5:4 conversion ratio and 0 forex charge?
Currently it gives 15 edge points (12 partner points/miles) on every 200 spend.

Or would it be better to take the Atlas card?
 
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drsel said:
Is it worth paying 59000 for the burgundy private card to get 5:4 conversion ratio and 0 forex charge?
Currently it gives 15 edge points (12 partner points/miles) on every 200 spend.

Or would it be better to take the Atlas card?
Click to expand...
You get Burgundy Private card complimentary with Burgundy Private relationship with Axis Bank. If your Burgundy Private relationship is being discontinued, you'll have to pay 59K but it doesn't make sense to pay that amount unless you have heavy international spends. You cannot apply for Burgundy Private card separately.
 
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srihari1977 said:
I've asked my Axis Credit Card Contact (who's specialises in 'Bury-gandhee') to check with his seniors and get back to me with clarity.

I hope to add to the confusion as soon as he reverts.
Click to expand...
I checked with my guy and he said card is LTF for burgundy customers omers untill they have burgundy relationship.
5:4 ratio and got this new magnus pdf
 

Attachments

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rdargar said:
Even if it is ; it's not yet implemented as evident by my earlier comment
Click to expand...
Magnus card is not going to be free under any circumstances whatsoever
that is clearly mentioned in the terms and conditions.
You have to be pay joining and renewal fees for Magnus even if you have a Burgundy savings account
 
Last edited:
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drsel said:
Burgundy private card will be free as long as you maintain the burgundy relationship of 30 lacs fixed deposits or 10 lakhs in savings account or higher amounts in total relationship value.

Magnus card is not going to be free under any circumstances whatsoever
that is clearly mentioned in the terms and conditions.
You have to be pay joining and renewal fees only for Magnus
Click to expand...
Not true! Its free with burgundy
 
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drsel said:
Burgundy private card will be free as long as you maintain the burgundy relationship of 30 lacs fixed deposits or 10 lakhs in savings account or higher amounts in total relationship value.

Magnus card is not going to be free under any circumstances whatsoever
that is clearly mentioned in the terms and conditions.
You have to be pay joining and renewal fees only for Magnus
Click to expand...
This is incorrect. There is a Burgundy relationship and there is Burgundy Private relationship 🙂 Please review once and you'll get the idea.
 
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Akio said:
I checked with my guy and he said card is LTF for burgundy customers omers untill they have burgundy relationship.
5:4 ratio and got this new magnus pdf
Click to expand...
Congrats to all of us if this is the Magnus for Burgundy.

#LastBullet
 

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