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

 

[MilesMax]

Can you pay income tax & rent TDS using credit card ?
Which credit card gives you points or cashback on income tax & rent TDS payment?

Yes. 1% extra charges.

Magnus used to give till sept 1st.
VI still gives.

 

[rohitb]

Due to maintenance downtime, you will be unable to transact with your Axis Bank Credit Card(s) on 14-09-23 from 2 AM to 4 AM IST. Regret any inconvenience.

Got this message
Kuch hone wala h

10:1, 5:1 se ratio change hoke 20:1 to nahin . Everytime axis does a change, effective ratio is halved. 5:4 -> 5:2 -> 5:1 -> 10:1

 

[drsel]

Yes. 1% extra charges.

Magnus used to give till sept 1st.
VI still gives.

Will I get basic non accelerated edge reward points using Axis Samsung infinite or Axis Rewards card?

 

[swipesmart]

Got message from Axis bank for downtime on 14th Sept from 2 AM to 4 AM. Hoping it will resolve the issue for Magnus burgundy.

 

[Pawan_KS]

Got message from Axis bank for downtime on 14th Sept from 2 AM to 4 AM. Hoping it will resolve the issue for Magnus burgundy.

lets wait and watch

 

[chowdaryking]

I am planning to buy it for my parents and just want to enjoy the benefits that will come with reward points... I am not asking if buying a car is a good decision ... its buying a car with a credit card is a good decision or not.

Yaa bro definitely it’s good to use credit card as u get points and u r paying the bill in time. But remember two points.
1:- Most important DONT PAY THE EXTRA 2% For using ur credit Card.
2:- don’t forget track ur 30% utilization b4 ur bill is generated.

 

[chowdaryking]

Definitely !
buying anything with a credit card is a good decision provided the profit is more than the 2 percent you have to pay illegally.
Because by law and according to the legally binding members agreement with Visa and MasterCard, a merchant cannot pass on any charges to the customer.

Bro if possible can provide any legal document for this for future reference, I am trying to find but not able to get it.

 

[hrish88]

Bro if possible can provide any legal document for this for future reference, I am trying to find but not able to get it.

well no one can sell you anything above MRP.its illegal.but if merchant is giving you a discount he can always ask you for 2%.

for example, if the MRP is 100 rs and someone gives you that thing for 90.then he can ask for 2% that is 90+1.8=91.8 or 92.

The issue is no merchant will admit officially to these charges.so no use of citing any law even if such a law exists. The merchant will simply say the discount is less than admitting to levy of 2%.

 

[rohitb]

Yaa bro definitely it’s good to use credit card as u get points and u r paying the bill in time. But remember two points.
1:- Most important DONT PAY THE EXTRA 2% For using ur credit Card.
2:- don’t forget track ur 30% utilization b4 ur bill is generated.

Isn't 30% utilisation checked for total across all cards and not individual card ?

 

[Deleted member 9785]

Me after free renewal of magnus and not taking burgandy

Hap Transate Thé Smile Sticker - Hap Transate Thé Smile Chill - Discover & Share GIFs

Click to view the GIF

tenor.com

 

[shrekster]

Me after free renewal of magnus and not taking burgandy

Hap Transate Thé Smile Sticker - Hap Transate Thé Smile Chill - Discover & Share GIFs

Click to view the GIF

tenor.com

Did you get a free renewal of Magnus without going for Burgundy? How so? Please enlighten.

 

[Deleted member 9785]

Did you get a free renewal of Magnus without going for Burgundy? How so? Please enlighten.

15 L spend

 

[rohitb]

After system Maintenance - i see 5:2 ratio for all partners (with previously added IDs still not restored
magnus + Burgundy

 

[rohitb]

Did you get a free renewal of Magnus without going for Burgundy? How so? Please enlighten.

Might be on spend basis.

 

[R@J]

Kal pata chalega prepard card me bhi reward point/edge rewards dikhne lagega.....aur Magnus cards me prepaid balance dikhne lagega!!

Sahi bol tha apun!!! 😎 🤣

Axis is like - Choona to mai aasmaan chahta hu (in applying technology).......lekin kya karu, duniya wale (developers) krne hi nhi dete!!

Magnus k saath saath vistara ka bhi beda gark kar dia! Not sure if they are issuing VI Plus as well 🤣🤣🤣🤣

 

[gowthamselvam]

Magnus transfer is 10:1 now. will it changes? as per their circular w.e.f sept 1 it is supposed to be 5:2 right ?

 

[ankurarora898]

my rm is asking for 5L average quarterly balance and not 10L for burgundy,will this be considered for 5:4 or not?

 

[RupayMan]

Sahi bol tha apun!!! 😎 🤣

Axis is like - Choona to mai aasmaan chahta hu (in applying technology).......lekin kya karu, duniya wale (developers) krne hi nhi dete!!

Magnus k saath saath vistara ka bhi beda gark kar dia! Not sure if they are issuing VI Plus as well 🤣🤣🤣🤣
View attachment 29399

We can laugh along with you if your message reach broader audience.

 

[ishanmontella]

I made a flight booking through Traveledge last week for 1.3 lac. Received all 5x points yesterday itself, while the journey is supposed to complete after 3 months 😂
All of a sudden, Axis is crediting points quickly, probably hoping that people will redeem them out of fear at 10:1,5:2 instead of 5:4.

F u Axis! I’ll wait!

 

[rogerthat]

F u Axis! I’ll wait!

Seems to be a common widespread sentiment these days