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

 

[swipesmart]

Please see the value of Qatar airmiles.
It is same as Etihad and Emirates, approximately 1.8 cents.
Whereas Kris flyer of Singapore is worth 2.2 cents according to the 2 analyses I posted & also repeated in post #4348

You can also use chat GPT app to check out the value of points of each and every airline and hotel partner

Which app?

 

[ankurarora898]

hey ppl,came back from a trek so don't know the current situation.If I convert my savings account into burgundy I can convert my points at 5:4 right?( including 30000 samsung infinite welcome points) or is there any catch?

 

[Saarthak Parihar]

hey ppl,came back from a trek so don't know the current situation.If I convert my savings account into burgundy I can convert my points at 5:4 right?( including 30000 samsung infinite welcome points) or is there any catch?

That's right, I asked my RM about this and he told me that they are fixing a couple of bugs and issues in their system. Once they've done it, Burgundy account holders that have magnus would be able to convert their points at 5:4

 

[ankurarora898]

That's right, I asked my RM about this and he told me that they are fixing a couple of bugs and issues in their system. Once they've done it, Burgundy account holders that have magnus would be able to convert their points at 5:4

ok so as some comments were mentioning only points earned through magnus can be converted at 5:4 is incorrect, right? all points from all cards can be converted at 5:4 with burgundy+magnus

 

[Saarthak Parihar]

ok so as some comments were mentioning only points earned through magnus can be converted at 5:4 is incorrect, right? all points from all cards can be converted at 5:4 with burgundy+magnus

All the edge reward points that you've got can be converted 5:4 if you've got the Burgundy+magnus combo. I got points from MyZone card and even those add up to the pool. All the ER points you earn are added up to your customer ID and you can transfer them 5:4 once you've got Burgundy+magnus.

 

[drsel]

ok so as some comments were mentioning only points earned through magnus can be converted at 5:4 is incorrect, right? all points from all cards can be converted at 5:4 with burgundy+magnus

All the edge reward points that you've got can be converted 5:4 if you've got the Burgundy+magnus combo. I got points from MyZone card and even those add up to the pool. All the ER points you earn are added up to your customer ID and you can transfer them 5:4 once you've got Burgundy+magnus.

So some Magnus Burgundy posters are reporting that the conversion ratio they are seeing right now is that of the lowest credit card in their portfolio (and not of Magnus) so they are seeing conversion ratio of 10:1 if they have a low value credit card

 

[ankurarora898]

So some Magnus Burgundy posters are reporting that the conversion ratio they are seeing right now is that of the lowest credit card in their portfolio (and not of Magnus) so they are seeing conversion ratio of 10:1 if they have a low value credit card

yeah that's what I am asking,is this a temporary glitch or a permanent thing,as I have indian oil card and samsung infinite too

 

[SM24]

hey ppl,came back from a trek so don't know the current situation.If I convert my savings account into burgundy I can convert my points at 5:4 right?( including 30000 samsung infinite welcome points) or is there any catch?

Why did you abandon peace ? 😑

 

[chowdaryking]

I am not getting award seats for 2 trips I am planning in October and November. I feel cheated basically all the points and vouchers just remain

For ur future info, to book award tickets in short period like with in a month or with in a week also only possibility I saw from BHARATH is Turkish Airline.

 

[hemant89]

I was just about to apply for an Axis Vistara Infinite. After reading about the difficulties in getting any voucher ticket booking I'm rethinking if it is worth it to spend 10000+GST on a card whose vouchers may not get used practically.

This depends on the route and how early you are trying to redeem the voucher. If you try to redeem the voucher just one week or a couple of days before then of course it will be difficult and according to me main benefit of VI is gold membership of Vistara.

 

[drsel]

I applied for another Axis Rewards card which is pending approval.
Q1) how long will it take to get approved?

I also have Axis Privilege which I got first year free in March 2023.
But it will be a useless card, when we get 5:4 ratio with Axis Burgundy account., (expected anytime around 15 to 21 September 2023)

So I called customer care to change it, but customer care could not change it because I already have 3 cards (after closing the 4th card Axis my zone)
And according to customer care, 3 cards is officially supposed to be the maximum for any customer.

Q2) since I cannot exchange my not so useful Axis privilege card for another card, should I close down Axis privilege card first and then apply for another Axis card ?
Q3) if so what should be the time interval?

 

[Saarthak Parihar]

So some Magnus Burgundy posters are reporting that the conversion ratio they are seeing right now is that of the lowest credit card in their portfolio (and not of Magnus) so they are seeing conversion ratio of 10:1 if they have a low value credit card

Just being patient (and not touching your reward points for now) is the best thing to do. Let axis Bank fix the bugs, we'll see it through when they are done with everything.

 

[sspranav]

I am purchasing a car with my axis magnus credit card. I wanted to know if the car purchase is eligible for accelerated reward points of 23 per INR 200. Is there any limit such as payments less than 50k only will be considered??

Also I have given my documents for opening a burgundy account couple of weeks back which is yet to be opened, so wanted to know if the credit card points earned on this account is eligible to be transferred to reward partners at 5 is to 4 ratio once the burgundy account is opened.

 

[CardsHoarder]

when we get 5:4 ratio with Axis Burgundy account., (expected anytime around 15 to 21 September 2023)

What is source of this? For tracking Axis features and dates we need to setup another website because Axis works like a secret cell. No information is never made public upfront and always kept confidential as if customers are looking forward to climax of suspense movie, dates are never honoured and usually works like new intern employed as if fresh graduate.

 

[ash_13]

hey ppl,came back from a trek so don't know the current situation.If I convert my savings account into burgundy I can convert my points at 5:4 right?( including 30000 samsung infinite welcome points) or is there any catch?

wait and watch. Believe in only what's written on Axis Website. Do not believe the RMs who are assuring 5:4 transfer ratio.

 

[Warlock27]

Checked just now, ER conversion is being calculated using 5:2 ratio (only Magnus CC without burgundy) for all partners. Looks like Axis fixed it.

 

[dyegosousas]

Checked just now, ER conversion is being calculated using 5:2 ratio (only Magnus CC without burgundy) for all partners. Looks like Axis fixed it.

Only for you then...

 

[ak93]

Checked just now, ER conversion is being calculated using 5:2 ratio (only Magnus CC without burgundy) for all partners. Looks like Axis fixed it.

Yes, its 5:2 for me too now.

 

[rishabk27775]

Yes, its 5:2 for me too now.

Only magnus or magnus with burgendy?

 

[ak93]

Only magnus or magnus with burgendy?

Only magnus