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

 

[raghav101]

No one seems to have any clue on whats happening. I have 90k points.

 

[drsel]

No one seems to have any clue on whats happening. I have 90k points.

Why didn't you convert them before 31st August

 

[drsel]

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?

You should apply for Axis Atlas and use it for all offline transactions to get 4% in value.

Right now Magnus plain and Magnus Burgundy are giving very low conversion ratios of 10:1 or 5:1.
so you should not use any Magnus card until the ratios are fixed to 5:2 and 5:4

 

[Swap24]

You should apply for Axis Atlas and use it for all offline transactions to get 4% in value.

Right now Magnus plain and Magnus Burgundy are giving very low conversion ratios of 10:1 or 5:1.
so you should not use any Magnus card until the ratios are fixed to 5:2 and 5:4

10:1 or 5:1 is temporary and I don't have Axis atlas...I already have 3 creditcard from Axis..so guess not eligible for 4th one

 

[raghav101]

Why didn't you convert them before 31st August

Because they got credited after on 2nd September.

 

[raghav101]

I'll just have to wait for it be to be back again to 5:4.

 

[raghav101]

How long it takes for card to be approved? I applied for Atlas on 30th August. Still haven't received it yet.

 

[mastfun]

I see this for every partner 😀 Hotels, Airlines everything...

 

[drsel]

Because they got credited after on 2nd September.

I have not received any points for all my spends on Axis Magnus in September

 

[drsel]

I see this for every partner 😀 Hotels, Airlines

So you are plain Magnus now.
Are the points obtained from your non Magnus cards also getting converted at 5:2 ratio?

Are you planning to become Burgundy soon?

View attachment 29259

 

[mastfun]

So you are plain Magnus now.
Are the points obtained from your non Magnus cards also getting converted at 5:2 ratio?

Are you planning to become Burgundy soon?

Don't know as most of the Burgundy members are saying that they are still not able to see 5:4

 

[drsel]

Axis Burgundy premium customer care senior confirmed that --

with plain Magnus,
All edge points from all 3-4 cards in your portfolio will get converted @5:2

with Burgundy Magnus,
All edge points from all 3-4 cards in your portfolio will get converted @5:4

 

[tdot]

Axis Burgundy premium customer care senior confirmed that --

with plain Magnus,
All edge points from all 3-4 cards in your portfolio will get converted @5:2

with Burgundy Magnus,
All edge points from all 3-4 cards in your portfolio will get converted @5:4

All these speculations have been doing the rounds ever since Magnus deval talks started. Senior rep from Axis or Door man from Axis doesn’t change the fact that unless you get in writing from Axis all these are mere talks.

Most of us are waiting for it to go live to finally make use of these Edge reqarfds

 

[Pawan_KS]

I see this for every partner 😀 Hotels, Airlines everything... View attachment 29259

which card do u have?

 

[Pawan_KS]

Axis Burgundy premium customer care senior confirmed that --

with plain Magnus,
All edge points from all 3-4 cards in your portfolio will get converted @5:2

with Burgundy Magnus,
All edge points from all 3-4 cards in your portfolio will get converted @5:4

does they provided any timeline

 

[Thomas Shelby]

If miles redemption is suspended on my account and I book a ticket today on travel edge will i receive the edge points.

 

[drsel]

If miles redemption is suspended on my account and I book a ticket today on travel edge will i receive the edge points.

Yes 60 points per 200 using Magnus.
How much % more is Traveledge airfare compared to kayak.com and airline website?

 

[drsel]

does they provided any timeline

Yes, 3rd week of September 2023, so 15--21 Sep

 

[Thomas Shelby]

Yes 60 points per 200 using Magnus.
How much % more is Traveledge airfare compared to kayak.com and airline website?

Traveledge usually is 2-5% higher and sometimes the price would be similar to kayak.com and airline website.

It also depends on airline and travel date.

 

[makster92]

Anyone has any update when Axis would fix 20:1 bug for Magnus if you have multiple cards? Are they even aware and fixing it?