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

 

[Harry1]

@Krishnaraju better to remove ur rm info. It might disclose ur info too😅.

 

[Dragon_slayer]

@Krishnaraju better to remove ur rm info. It might disclose ur info too😅.

How would disclosing RM info would disclose his ? 🤔

 

[K.R]

It was calculated quarterly previously as well; I think they have just made it clearer now.

Anyways, the email for reminding the Burgundy balance maintenance was stupid. No mentions of mangus anywhere on the email

A complimentary suite of cards
Exclusive travel and lifestyle privileges.

 

[bigbrain]

If u have magnus, all current edge points will be transferred to magnus burgundy points. After that whatever u earn from reserve will be just edge points.

Future Magnus burgundy points will come under magnus burgundy points.

Only magnus burgundy points will come in 5:4 and rest edge points will be under 5:2.

Just what I understand from various official and unofficial leaks.

I hope so 🤞

 

[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

It's a temporary glitch. I'd say don't touch your points for now.

 

[Saarthak Parihar]

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

Temporary

 

[Saarthak Parihar]

A complimentary suite of cards
Exclusive travel and lifestyle privileges.

Yeah even I'm trying to decode that lol

 

[drsel]

If u have magnus, all current edge points will be transferred to magnus burgundy points. After that whatever u earn from reserve will be just edge points.

Future Magnus burgundy points will come under magnus burgundy points.

Only magnus burgundy points will come in 5:4 and rest edge points will be under 5:2.

Just what I understand from various official and unofficial leaks.

So you mean that edge reward points from all other HNI cards like Samsung Infinite, Reserve, Select, Rewards, etc will get put in a separate pool ?
And not combined with the Magnus Burgundy pool for 5:4 ratio?

 

[drsel]

If u have magnus, all current edge points will be transferred to magnus burgundy points. After that whatever u earn from reserve will be just edge points.

Future Magnus burgundy points will come under magnus burgundy points.

Only magnus burgundy points will come in 5:4 and rest edge points will be under 5:2.

Just what I understand from various official and unofficial leaks.

If I have plain Magnus, Samsung infinite, IOCL, Rewards cards, will the edge points of all 4 cards go into the same pool?
Can all the combined points be converted at 5:2 ratio?

 

[drsel]

I have not received any points for September spends on Magnus.
1) Has anyone received points for September spends?
2) Are plain Magnus customers getting a 5:2 ratio for edge points earned from ALL cards?
3) Are Magnus Burgundy customers getting a 5:4 ratio for edge points earned from ALL cards?

 

[rohitb]

People are getting 5:2 now and here i am magnus + burgundy still on 5:1 and 10:1 .
May be this is the axis way of making us long for 5:2 and be content with it .
Ek hafta aur seh lenge.

 

[drsel]

People are getting 5:2 now and here i am magnus + burgundy still on 5:1 and 10:1 .
May be this is the axis way of making us long for 5:2 and be content with it .
Ek hafta aur seh lenge.

I am wondering if it is better to be a plain Magnus customer and get 5:2 ratio
Are you also getting 5:2 ratio for all edge points earned on other Axis cards in your portfolio?

 

[Deleted member 9785]

a movie can be made

"Axis ke Jumle"

 

[raghav101]

I am Axis + burgundy. Getting 5:1 and 10:1.

 

[rohitb]

I am wondering if it is better to be a plain Magnus customer and get 5:2 ratio
Are you also getting 5:2 ratio for all edge points earned on other Axis cards in your portfolio?

5:2 is dream sir. As of now I am 10:1 and 5:1

 

[Swap24]

I am planning to purchase a Car worth 8 lakh with my Magnus card... How many reward points should I expect from the transaction?
I have to negotiate the 2% he is charging me for the credit card transaction.

Is it a good decision?

 

[Pawan_KS]

I am Axis + burgundy. Getting 5:1 and 10:1.

+1

 

[mastfun]

How to see how much I am getting 😀

 

[Pawan_KS]

How to see how much I am getting 😀

At Travel Edge portal.

 

[Thomas244]

I am planning to purchase a Car worth 8 lakh with my Magnus card... How many reward points should I expect from the transaction?
I have to negotiate the 2% he is charging me for the credit card transaction.

Is it a good decision?

Can u wait for clarity on the magnus