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

 

[drsel]

Now the main question is when you have Burgundy activated, what will be the conversion ratio for your other 3 cards in your portfolio like Samsung infinite, Select, Rewards, IOCL, etc?

 

[MilesMax]

Has anyone evaluated the Magnus vs Atlas recently post devaluation? It looks to me that Atlas has far higher return as compared to Magnus even with the Burgundy option. Could I be wrong? This was calculated for an annual spend of 15 lacs.

Magnus + burgundy is still 4.8% (post activation as per axis) vs Atlas at 4% base spend.
Only place where Atlas shines is direct booking on airline or hotel website where Atlas gets accelerated points and Magnus doesn't

 

[drsel]

Only place where Atlas shines is direct booking on airline or hotel website where Atlas gets accelerated points and Magnus doesn't

Atlas would be better ONLY if the airfare on Traveledge is much more than direct booking with the airline.
Because Magnus burgundy gives 24% return when booking flights on Traveledge.
This even beats HFDC Infinia hands down.

 

[MilesMax]

Thanks a lot... A quick question, to achieve an AQB of 10 Lakhs, Should I park 10 Lakhs for the whole quarter?

Not really. AQB should be 10L.

Technically AQB = sum of Balance at EOD for 90 days / 90

Eg: For 45 days you can have 5L and other 45 days you have 15L. AQB would be 10L.

We don't know how Axis calculates it. Better to check with the RM.

 

[Deleted member 11974]

Not really. AQB should be 10L.

Technically AQB = sum of Balance at EOD for 90 days / 90

Eg: For 45 days you can have 5L and other 45 days you have 15L. AQB would be 10L.

We don't know how Axis calculates it. Better to check with the RM.

AQB is the average of the daily overnight closing balance divide by the number of days In a quarter i:e 90 days
and yes as you mentioned weighted average is taken up for calculation

 

[MilesMax]

Atlas would be better ONLY if the airfare on Traveledge is much more than direct booking with the airline.
Because Magnus burgundy gives 24% return when booking flights on Traveledge.
This even beats HFDC Infinia hands down.

True, if the fare works its great.
But There are some airfares that you cannot book on Traveledge (e.g.: Many Singapore Air saver fares don't show up.) and the flexibility of cancellation is always better when booked directly with the Airline.
Even in hotels, Many room variations don't show up.
It's nice to have Burgundy + Magnus + Atlas.
Anyway, the Atlas joining and renewal fee is compensated with Edge miles.

 

[MilesMax]

I see a few people are getting Atlas LTF. Any idea what's the Criteria for that?

 

[Vickymaster1010]

Not really. AQB should be 10L.

Technically AQB = sum of Balance at EOD for 90 days / 90

Eg: For 45 days you can have 5L and other 45 days you have 15L. AQB would be 10L.

We don't know how Axis calculates it. Better to check with the RM.

But u will earn jst 3% a year against 9% in fd so u lose atlst 50000 in cash so if u can extract more than 50k a year frm burgandy then it's worth to park 10 lkhs

 

[Vickymaster1010]

IDFC 7% is for the amount exceeding 10L.
Amount upto 10L will get only 4% no matter whether you have 10L or 50L in the account.

Then parking 10 lkhs for magnus is not logical as u wil loss 5% a year that's 50k a year jst to keep ur magnus active 5:4

 

[MilesMax]

But u will earn jst 3% a year against 9% in fd so u lose atlst 50000 in cash so if u can extract more than 50k a year frm burgandy then it's worth to park 10 lkhs

Shouldn't be that hard to to extract 50k+ value.
Earn 1L ER and Convert to Accor at 5:4 = 80k Accor points
40k additional itself is worth 40 * 1.8 = 72k (Tax free)

 

[Vickymaster1010]

Shouldn't be that hard to to extract 50k+ value.
Earn 1L ER and Convert to Accor at 5:4 = 80k Accor points
40k additional itself is worth 40 * 1.8 = 72k (Tax free)

Yes if u can spend aprpx 10 lakhs genuine spends in a year it's worth it or else nope

 

[Vickymaster1010]

Yes if u can spend aprpx 10 lakhs genuine spends in a year it's worth it or else nope

To earn 1 lkh edge reward points

U need to spend 10 lakhs minimum and also swipe for flight bookings otherwise any spends in a year less than 10 lakhs is not feasible

 

[MilesMax]

To earn 1 lkh edge reward points

U need to spend 10 lakhs minimum and also swipe for flight bookings otherwise any spends in a year less than 10 lakhs is not feasible

It depends on Individual spending patterns. For someone who travels a lot. 3.5L of spends on TravelEdge is enough to get 1L points.

For someone who doesn't use the card on any accelerated spending or spend on things which don't give any points then even 10L is not enough.

 

[kalratush]

I have Magnus + burgundy, and my transfer ratio was showing 10:1 for a while but it switched to 5:2 today, I guess something is changing?

 

[R!ppEr]

i keep getting a login popup when i try to navigate to travel edge from axis mobile app. when i login it says user already logged in :| anyone else facing this issue?

 

[drsel]

i keep getting a login popup when i try to navigate to travel edge from axis mobile app. when i login it says user already logged in :| anyone else facing this issue?

If you click reward points and then click Traveledge, it works fine

 

[Harry1]

I have Magnus + burgundy, and my transfer ratio was showing 10:1 for a while but it switched to 5:2 today, I guess something is changing?

Right, changed again now to 5:2😅.

 

[raghav101]

Now it should have changed to 5:4.

 

[drsel]

Now it should have changed to 5:4.

No. I just spoke to Burgundy premium customer care and they said at the 5:4 ratio is only available on the brand new Burgundy Magnus card which will be offered ONLY to Burgundy customers as an upgrade to their existing Magnus card, from 1st October onwards.
This is ONLY for the Burgundy customers who accept the terms and conditions and give their approval on the link sent by SMS or email.

ONLY that new Burgundy Magnus card will get 5:4 ratio, no other card

 

[RupayMan]

No. I just spoke to Burgundy premium customer care and they said at the 5:4 ratio is only available on the brand new Burgundy Magnus card which will be offered ONLY to Burgundy customers as an upgrade to their existing Magnus card, from 1st October onwards.
This is ONLY for the Burgundy customers who accept the terms and conditions and give their approval on the link sent by SMS or email.

ONLY that new Burgundy Magnus card will get 5:4 ratio, no other card

But the existing points?