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Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

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bugmenot

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-- 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


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


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

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

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
 

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Swap24 said:
All these negative sentiments about Magnus...but I don't know any better credit card that gives rewards like Magnus for burgundy customer....correct me if I am wrong
Click to expand...
How about SBI Cashback card. 5% cash in most spends .. Peaceful life .. no stress of devaluation .. (. Cash is the king .. ) .. Cash has less chances of devaluation compared to bank points .. may be hold true to Non-Burgundy account holder .. Burgundy Acc holder may be able to extract more then 5% from Magnus..
 
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chowdaryking said:
Y r u paying 2% extra, as per RBI they shouldn’t charge u extra for using card. Ask him to show him in bill that he is charging extra 2% for card usages . He will deny bcos if he gives and u raise a complaint at RBI that showroom’s all card mechanics will be blocked for ever on his business name and no new mechanism will be issued for him on the same business name.
Click to expand...
that may be so; but then he can simply tell you "we don't accept cards" - there is no rule that says dealers must accept cards for any payment
 
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A quick question:
I am travelling with my friend from Delhi T2 (Domestic) to BLR

I have magnus card (Loungue specified is New Delhi New Delhi Domestic T2 Lounge Domestic T2)
My Friend has HDFC regalia (Delhi New Delhi Encalm Lounge Domestic T2 Terminal 2)

I see PP issued by AXIS has Encalm Loungue , Can I use PP instead of checking into New Delhi Domestic T2 Lounge ? Will I be charged for it?

The worst thing is Encalm is not even listed in https://www.delhiairport.com/lounges-airport.php for T2
1694982538319.png
 
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Swap24 said:
All these negative sentiments about Magnus...but I don't know any better credit card that gives rewards like Magnus for burgundy customer....correct me if I am wrong
Click to expand...
You are not wrong. there isn't any one single card apart from Infinia that can do better than Magnus (w burgundy) in all categories. Even Infinia doesn't at some scenarios.

You have to use a portfolio of cards. One for fuel, one for utility bills, one for govt payments etc. at places where Magnus doesn't reward you.
Other than that it's a still a solid card to keep for gyftr, travel and airmiles conversion.
 
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mastfun said:
I see PP issued by AXIS has Encalm Loungue , Can I use PP instead of checking into New Delhi Domestic T2 Lounge ? Will I be charged for it?
Click to expand...

Yes you will be charged. Don't use PP in domestic terminals that are not listed in the latest devaulation document.
Delhi is not one of them.

If you still badly want to access it, use credit cards which give you discounted rates. Many entry level cards offer discounted rates for entry. PP will straight up cost 2.2k ish.
 
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mastfun said:
A quick question:
I am travelling with my friend from Delhi T2 (Domestic) to BLR

I have magnus card (Loungue specified is New Delhi New Delhi Domestic T2 Lounge Domestic T2)
My Friend has HDFC regalia (Delhi New Delhi Encalm Lounge Domestic T2 Terminal 2)

I see PP issued by AXIS has Encalm Loungue , Can I use PP instead of checking into New Delhi Domestic T2 Lounge ? Will I be charged for it?

The worst thing is Encalm is not even listed in https://www.delhiairport.com/lounges-airport.php for T2
View attachment 29779
Click to expand...
According to the rules, Priority pass will be charged at all airports in India. It's only free outside India
 
Upvote 0 Downvote
MilesMax said:
You are not wrong. there isn't any one single card apart from Infinia that can do better than Magnus (w burgundy) in all categories. Even Infinia doesn't at some scenarios.

You have to use a portfolio of cards. One for fuel, one for utility bills, one for govt payments etc. at places where Magnus doesn't reward you.
Other than that it's a still a solid card to keep for gyftr, travel and airmiles conversion.
Click to expand...
Magnus burgundy 24% beats Infinia 14.5% on airtickets.
Also 4.8% vs 3.3% on non travel transactions.
For hotels I get 35% discount with Kotak
 
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Now the main question for those who have Magnus without Burgundy--
will they get 5:2 or 5:1 ratio for the other cards in their portfolio ?

and Magnus with Burgundy--
will they get 5:4 or 5:2 or 5:1 for the other cards in their portfolio?
 
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