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

 

[Deleted member 11974]

Ask him about the conversion ratio of other cards in the portfolio of--
a) Those who have old Magnus?
b) Those who have new Burgundy Magnus?

the website as of now mentioned 5:2 ratio for travel partners
so i dont think burgudy would have any seperate benefit
just that some travel partners might be kept at 5:4

 

[drsel]

Magnus Burgundy beats Infinia, as per my calculations --
1) Flights
Magnus Burgundy 19.35 % discount on Traveledge (including the use of 100% points transferred to Accor hotels)
Infinia 14.5% discount on Smartbuy (including 2nd flight transaction paid with 70% points & 30% card)

2) Hotels
I get 35% discount using Kotak, so no Magnus Burgundy nor Infinia

3) Non travel
Magnus Burgundy 4.8% return
Infinia 3.3% return

 

[Deleted member 11974]

Magnus Burgundy beats Infinia, as per my calculations --
1) Flights
Magnus Burgundy 19.35 % discount on Traveledge (including 2nd transaction using 100% points earned for Accor hotels)
Infinia 14.5% discount on Smartbuy (including second transaction paid with 70% points & 30% card)
2) Hotels I get 35% discount using Kotak
3) Non travel
Magnus Burgundy 4.8%
Infinia 3.3% return

aree bhai lekin 4.8 % to confirm hai hi nahi abhi tak
tum kaunsa khayali pulao paka rahe ho
aur tumhara monthly spends kitna travel edge ya smart buy pe hoga
talk in terms of sustainable spends
base rewards ke hisab se calculate karke batao
magnus at 5:2 and infinia ka transfer rate jo hai uske hisab se

 

[UKJ]

Ask him about the conversion ratio of other cards in the portfolio of--
a) Those who have old Magnus?
b) Those who have new Burgundy Magnus?

According to him Burgundy accounts will be provided a new Magnus LTF. Those without Burgundy will have the option to continue with their existing Magnus.

 

[Viper1057]

Official pdf - https://www.axisbank.com/docs/defau...cards/magnus-credit-card-for-burgundy-faq.pdf

Source - https://www.axisbank.com/retail/cards/credit-card/axis-bank-magnus-card/feature-benefits (In more benefits look for know more bottom part)

5:4 is official for burgundy customers

November 30 is last date to avail the offer.

Anyone thought what will happen about the 25K milestone of August? Will it be available to be redeemed for 5:4 or not?

14 page pdf but they didn't clearly mentioned what will happen about not credited yet earned edge points(like 5x gyftr, Aug milestone or grabdeals).
There can be 2 scenerio's for this:
1. If you did upgrade/convert to Burgundy Magnus, all the current existing points will be transferred to 5:4 bucket and let's say you recieve August milestone tomorrow then it will be treated as 5:2 or normal edge reward points.
2. Even after upgrading, it will still be credited to 5:4 Burgundy Magnus points.

After seeing so much Axis fiasco & way of doing things, I highly expect its the 1st point. Though this case or anything related to it is not clearly explained in PDF.

Because of this, I will wait till mid November to upgrade my account after receiving milestone & my Samsung infinite points 😈

 

[mojo_jojo123]

gali gali mai chor hai .. Ax - shit .. bank chor hai ..

 

[Thomas244]

November 30 last date

 

[aashish2137]

View attachment 30655
How much is 20 x edge points while using Burgundy debit card?
Is this Burgundy account to which we are all upgrading, called a Burgundy digital savings account?

Any clarity on this? Do you have the link to this offer?

 

[Thomas244]

upgrade to burgundy now. Then wait till november end to shift to burgundy with magnus. Once maximum points given.

 

[Thomas244]

Any clarity on this? Do you have the link to this offer?

No only accounts opened digitally. Normal saving upgrade accounts don’t have this

 

[chasni]

November 30 last date

If they had released the pdf on Sep 1, then Nov 30 makes sense as it would give customers 3 months to do that. They have already wasted 1 month in preparing this pdf.

 

[drsel]

talk in terms of sustainable spends
base rewards ke hisab se calculate karke batao
magnus at 5:2 and infinia ka transfer rate jo hai uske hisab se

Please calculate regular daily transactions and let us all know. Thanks 🙏

 

[drsel]

According to him Burgundy accounts will be provided a new Magnus LTF. Those without Burgundy will have the option to continue with their existing Magnus.

You did not understand the question.
I am asking
"What is the conversion ratio of other cards in the portfolio in both case scenarios, plain Magnus and Magnus Burgundy?"

 

[Viper1057]

Please calculate regular daily transactions and let us all know. Thanks 🙏

Hope this helps for everyone: https://www.technofino.in/community...rison-as-of-july-22nd-2023.15506/#post-285972



4.8% vs 3.33% base rewards. Burgundy Magnus is best for folks who have 3lakhs+ monthly salary since they are doing 0% investment else Infinia if you can get it. Meanwhile for folks who couldn't get Infinia without FD, its still better if you are going to make a good amount of transactions over a year to nullify the interest over FD else Infinia + FD is also a better option.

 

[nithin1992]

For the 3L monthly salary criteria is it mandatory for the company to have a salary account relationship with Axis?

Also any clarity on whether the Burgundy account criteria is reviewed every 6 months by the bank branch or by the system? I ask to know if there is any leeway on the salary criteria, let's say short by a couple of thousands, what happens then?

 

[Viper1057]

For the 3L monthly salary criteria is it mandatory for the company to have a salary account relationship with Axis?

Also any clarity on whether the Burgundy account criteria is reviewed every 6 months by the bank branch or by the system? I ask to know if there is any leeway on the salary criteria, let's say short by a couple of thousands, what happens then?

Yes, tie-up is necessary. I think the review occur automatically by system, but branch gets a prior intimation and they may reach out to you for the same if you ask them to let you know especially before downgrading(but still its Axis😝 so you never know). There can be leeway but no certainity if still you will be eligible for burgundy magnus because I know few of the tie-up companies have 2lakh/month salary criteria for burgundy but the docs clearly mentions 3lakh to be eligible for burgundy magnus card, so we will only know more about this in next 1-2 months when someone confirms from such tie-up companies availing the offer.

 

[Thomas244]

Yes, tie-up is necessary. I think the review occur automatically by system, but branch gets a prior intimation and they may reach out to you for the same if you ask them to let you know especially before downgrading(but still its Axis😝 so you never know). There can be leeway but no certainity if still you will be eligible for burgundy magnus because I know few of the tie-up companies have 2lakh/month salary criteria for burgundy but the docs clearly mentions 3lakh to be eligible for burgundy magnus card, so we will only know more about this in next 1-2 months when someone confirms from such tie-up companies availing the offer.

As of now all strict criteria will be used. Depending on the actual numbers of burgundy Magnus after few months they may give some leeway

 

[nithin1992]

Yes, tie-up is necessary. I think the review occur automatically by system, but branch gets a prior intimation and they may reach out to you for the same if you ask them to let you know especially before downgrading(but still its Axis😝 so you never know). There can be leeway but no certainity if still you will be eligible for burgundy magnus because I know few of the tie-up companies have 2lakh/month salary criteria for burgundy but the docs clearly mentions 3lakh to be eligible for burgundy magnus card, so we will only know more about this in next 1-2 months when someone confirms from such tie-up companies availing the offer.

Considering salary credit seems to be the best way to get Burgundy Magnus. I wonder if there's a way to get around the tie up requirement. Looking forward to seeing some more responses from experienced folks who might have encountered this situation in the past

 

[vikramsrit]

Yes, tie-up is necessary. I think the review occur automatically by system, but branch gets a prior intimation and they may reach out to you for the same if you ask them to let you know especially before downgrading(but still its Axis😝 so you never know). There can be leeway but no certainity if still you will be eligible for burgundy magnus because I know few of the tie-up companies have 2lakh/month salary criteria for burgundy but the docs clearly mentions 3lakh to be eligible for burgundy magnus card, so we will only know more about this in next 1-2 months when someone confirms from such tie-up companies availing the offer.

this is not correct. I have a burgundy salary account and my company has no tie-up with Axis. You monthly statement should reflect the salary credit >3L; that's all.

 

[aashish2137]

For the 3L monthly salary criteria is it mandatory for the company to have a salary account relationship with Axis?

Also any clarity on whether the Burgundy account criteria is reviewed every 6 months by the bank branch or by the system? I ask to know if there is any leeway on the salary criteria, let's say short by a couple of thousands, what happens then?

Yes, salary account is mandatory. I opened a savings account at first then the company had a tie up so they opened a new Burgundy account.

I think the review is up to the RM. When I got Burgundy, first few months I didn't change my salary account to Burgundy but nobody cared. I changed last month and when I got September salary, I immediately transferred to my HDFC account. The RM called me today asking why I didn't keep in Axis. He said they have targets and if I could maintain some balance as of 30-Sept, it will be helpful.