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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

bugmenot

TF Legend
-- 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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Last edited:
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drsel said:
I applied 10 days ago to convert my existing saving account to Burgundy.
but I had only 5 lakhs in it, so the request was rejected.

now I transferred another 5 lacs to cross 10 lakhs and my request is pending.
it should take another day or two
Click to expand...
Are you Saying 10L Savings is eligible ?. My reading between the lines has different understanding
Only the below are eligible
10 Lacs Savings QAB.. which means if you are Savings 10 lcs you have to complete 1 Quarter
TRV 30 lacs
Salary 3 lacs
So new Burgundy with 10 lacs will have to wait for a quarter
 
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Krishnaraju said:
Are you Saying 10L Savings is eligible ?. My reading between the lines has different understanding
Only the below eligible
10 Lacs Savings QAB.. which means if you are Savings 10 lcs you have to complete 1 Quarter
TRV 30 lacs
Salary 3 lacs
So new Burgundy with 10 lacs will have to wait for a quarter
Click to expand...
Your understanding is correct, it appears.

Burgundy support just confirmed this reading about 30L TRV and 10L AQB.

In fact, AMB was changed to AQB, only recently, if I recollect right.
 
Upvote 0 Downvote
I'm planning to upgrade my savings account from priority to Burgundy. How many days do you think this will take?

Considering 30th Nov is the last date for Magnus LTF, Need to rush on this
 
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srihari1977 said:
Your understanding is correct, it appears.

Burgundy support just confirmed this reading about 30L TRV and 10L AQB.

In fact, AMB was changed to AQB, only recently, if I recollect right.
Click to expand...
However they have played with the word TRV... in such a waay that tomorrow they can remove the prevelidges saying you are Burgundy but not maintained 30 lacs 🙂
 
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drsel said:
4.80--1.18--0.46 =3.16% is the profit on rent payment upto 50000 using Magnus Burgundy
Click to expand...
Hey bro, how are u saying that 1 mile =1 Re? In many cases thats not the case i think, so that 4.8% comes to by around 3.6%. (like for Vistara on most routes, infact it's 2.88%, given 1 mile = 0.66 Rs. if you compare with the price of the ticket and add the taxes that one has to pay while buying using points).
Correct me if i am wrong, but this whole 1 mile = 1 Re thing is in most of the cases not correct.
 
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pvr2iitd said:
Hey bro, how are u saying that 1 mile =1 Re? In many cases thats not the case i think, so that 4.8% comes to by around 3.6%. (like for Vistara on most routes, infact it's 2.88%, given 1 mile = 0.66 Rs. if you compare with the price of the ticket and add the taxes that one has to pay while buying using points).
Correct me if i am wrong, but this whole 1 mile = 1 Re thing is in most of the cases not correct.
Click to expand...
Yeah its not 1mile =1Re but rather upto 1mile = 1.8 Re 🌚
 
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Viper1057 said:
Accor 2000 mile is equal to 3600INR approx
1mile = 3600/2000=1.8INR.

Hope this basic maths help you
Click to expand...
Ok, so Magnus gives 1 mile = 1.8 Rs only for Accor? for others its like 0.66? So all this halla gulla only for Accor points?

And how does the room rate compare with what is offered on MMT, etc (before any discounts)? What I have seen is if you pay using points, the room rate is generally higher then what's offered on TAs.
 
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pvr2iitd said:
Ok, so Magnus gives 1 mile = 1.8 Rs only for Accor? for others its like 0.66? So all this halla gulla only for Accor points?

And how does the room rate compare with what is offered on MMT, etc (before any discounts)? What I have seen is if you pay using points, the room rate is generally higher then what's offered on TAs.
Click to expand...
There are other partners where the value is still more than 1INR. It just varies if you use your brain or not while redeeming.

Now you raised for Vistara so lets see that, pick any time from now for Delhi<->Bangkok roundtrip and you will find all flights atleast costing 24-25k economy before convenience and discount, add those and you will still be around 25-26k while booking(considering you atleast get 4k discount lol). For Vistara the fare after applying discounts & convenience will be still higher than 32k INR on the cheapest day, but the CV points required for the travel is 32000 CV and if you even include 5.9k tax then it will still be around or more than 1INR value.

If you are someone who just travel from Delhi<->Amritsar type guy then blame yourself for such foolishness to redeem CV points for less value.

Personally I value more to krisflyer or united because of their better value, but it also depends where you planning to travel as well😋


Secondly about your hotels rate which you raised for Accor, specifically Accor has around top 40+ brands of hotel under it and no 3rd party site will get you a better rate, if they do, you will get price match + further more 10-25% discount. You can learn more here: https://all.accor.com/best-price-guarantee/index.en.shtml


There was a thread here or on some website which had all 19 partners approx INR value which gives a fair idea but I can't find the link neither remember the title😂

It all depends on your research (& ofc basic maths) to know what could be the best way to get most value out of it! Cheers!
 
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Saarthak Parihar said:
livefromalounge.com

Axis Bank shares details on new Magnus for Burgundy Credit Card - Live From A Lounge

Axis Bank has introduced details of the new Magnus for Burgundy Credit Card variant that offers 5:4 conversion ratio for EDGE Rewards.
livefromalounge.com
Click to expand...
There is a slightly false info in this post where he claims that only people with TRV 30lakhs at individual level will be able to get magnus burgundy card, in the comments & twitter you can find people getting email & successfully upgrading their card with salary credit of 3lakhs, who keeps balance in the amount of hundreds only(yes there is some reports where some companies salary credit is being denied for upgrade) but also for people who are maintaing AQB of 10lakhs at individual level got it.
Axis just gave a example for family banking on the basis of TRV, but if the user is outside family banking and has 10lakhs in savings account, then he will be eligible on individual level only (ofc either he should hold magnus or should have credit eligibility to get new magnus).
 
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Viper1057 said:
There is a slightly false info in this post where he claims that only people with TRV 30lakhs at individual level will be able to get magnus burgundy card, in the comments & twitter you can find people getting email & successfully upgrading their card with salary credit of 3lakhs, who keeps balance in the amount of hundreds only(yes there is some reports where some companies salary credit is being denied for upgrade) but also for people who are maintaing AQB of 10lakhs at individual level got it.
Axis just gave a example for family banking on the basis of TRV, but if the user is outside family banking and has 10lakhs in savings account, then he will be eligible on individual level only (ofc either he should hold magnus or should have credit eligibility to get new magnus).
Click to expand...
I guess people have got confused with TRV.
Savings with 10 Lacs QAB is one type of TRV
Salary above 3 Lacs is one type of TRV
Savings + Current + Investments of 30 lacs is one type of TRV
Savings + Investments + Demat of above 1 CR is one type of TRV
There is one more TRV of Remittances

All the Above TRV's are eligible
 
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pvr2iitd said:
Hey bro, how are u saying that 1 mile =1 Re? In many cases thats not the case i think, so that 4.8% comes to by around 3.6%. (like for Vistara on most routes, infact it's 2.88%, given 1 mile = 0.66 Rs. if you compare with the price of the ticket and add the taxes that one has to pay while buying using points).
Correct me if i am wrong, but this whole 1 mile = 1 Re thing is in most of the cases not correct.
Click to expand...
I don't recommend Vistara, it's worth around 60--90 paisa. There is another option which is Rs.1
 
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