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

 

[Swap24]

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.

Yes definitely... I am also opening a Burgundy account with Axis to utilize my credit card with the best rewards I can get.....But I have one question... can I covert all the existing points to 5:4 after opening the burgundy account....or only the expense made after the account opening account will be counted for 5:4 conversion

 

[Pawan_KS]

Yes definitely... I am also opening a Burgundy account with Axis to utilize my credit card with the best rewards I can get.....But I have one question... can I covert all the existing points to 5:4 after opening the burgundy account....or only the expense made after the account opening account will be counted for 5:4 conversion

Even axis dont know about it😂😂

 

[Swap24]

Even axis dont know about it😂😂

haha... I mean it should be in the T&C attached to the credit card.

 

[R@J]

haha... I mean it should be in the T&C attached to the credit card.

"Even axis dont know about it" comment applies to that as well 🤣 🤣

 

[bhandchawla]

+1

 

[SM24]

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

'Stability', thy middle name is Axis.

 

[rohitb]

haha... I mean it should be in the T&C attached to the credit card.

New admission sir ?

 

[Saarthak Parihar]

Yes

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

Yes

 

[Saarthak Parihar]

Yes definitely... I am also opening a Burgundy account with Axis to utilize my credit card with the best rewards I can get.....But I have one question... can I covert all the existing points to 5:4 after opening the burgundy account....or only the expense made after the account opening account will be counted for 5:4 conversion

All the points, even those acquired before 1st September

 

[Swap24]

New admission sir ?

Yes just now started my journey to explore the world of credit cards and their rewards.....I found this website in the comment section of Card Expert

 

[Pawan_KS]

Yes just now started my journey to explore the world of credit cards and their rewards.....I found this website in the comment section of Card Expert

welcome.🙂

 

[UKJ]

I have opened Burgundy account with Axis. RM says SELECT card is part of free offering of Burgundy account. Does it make sense to take one? Is there any benefit which is not there in Magnus?

 

[RupayMan]

I have opened Burgundy account with Axis. RM says SELECT card is part of free offering of Burgundy account. Does it make sense to take one? Is there any benefit which is not there in Magnus?

Take it

 

[R@J]

I have opened Burgundy account with Axis. RM says SELECT card is part of free offering of Burgundy account. Does it make sense to take one? Is there any benefit which is not there in Magnus?

Just in case you planning to take both -> once you get Select's welcome benefit of ERs....convert that at 5:4 when you have Magnus as well!

 

[Pawan_KS]

I have opened Burgundy account with Axis. RM says SELECT card is part of free offering of Burgundy account. Does it make sense to take one? Is there any benefit which is not there in Magnus?

Just wait for some more clarity. Thereafter you can apply for magnus.

 

[Saarthak Parihar]

I have opened Burgundy account with Axis. RM says SELECT card is part of free offering of Burgundy account. Does it make sense to take one? Is there any benefit which is not there in Magnus?

There's not much benefit of the SELECT (it gives 20 ER points on retail shopping, not much else other than that) card if you manage to get MAGNUS,

 

[Lord Of Darkness]

If I dont have a burgundy account, and plan to use my Axis Magnus for International flight bookings via travel edge would the effective reward be 5x and worth utilising it? and also what is the current Accor ALL transfer ratio for Magnus post Sep 1?

 

[Deleted member 11974]

If I dont have a burgundy account, and plan to use my Axis Magnus for International flight bookings via travel edge would the effective reward be 5x and worth utilising it? and also what is the current Accor ALL transfer ratio for Magnus post Sep 1?

If you don't have burgundy
Your points will be transferrable at 5:2
And accor is 10:1 if I am not wrong

 

[Pawan_KS]

If you don't have burgundy
Your points will be transferrable at 5:2
And accor is 10:1 if I am not wrong

If don't have burgundy, conversion ratio to all partner will be 5:2 for magnus.

 

[Lord Of Darkness]

If you don't have burgundy
Your points will be transferrable at 5:2
And accor is 10:1 if I am not wrong

Even then if I consider base rewards at 1.2% considering 0.2 Rs per edge reward, still 5X would still be 12% return for non Burgundy which I still think is decent rewards if we use travel edge.