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

 

[deepcards]

Yeah its not 1mile =1Re but rather upto 1mile = 1.8 Re 🌚

How bro? please throw some more light.

 

[Viper1057]

How bro? please throw some more light.

Accor 2000 mile is equal to 3600INR approx (40EUR)
1mile = 3600/2000=1.8INR.

Hope this basic maths help you

 

[deepcards]

Accor 2000 mile is equal to 3600INR approx
1mile = 3600/2000=1.8INR.

Hope this basic maths help you

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.

 

[Viper1057]

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.

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!

 

[Saarthak Parihar]

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

 

[Viper1057]

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

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).

 

[K.R]

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).

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

 

[drsel]

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.

I don't recommend Vistara, it's worth around 60--90 paisa. There is another option which is Rs.1

 

[drsel]

So, what's the easiest way for someone with no Axis account to get to Burgundy Magnus?

Open a Burgundy savings account with a 10 lakh deposit and then apply for the Magnus card if your income is over 24 lacs

 

[drsel]

And the tables turn... again! Axis has now made more U turns than an average Bangalore auto driver.

No U turn. Axis has finally kept their commitment

 

[drsel]

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.


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 😈

I think it is option 2.
Once you are already Burgundy, then all the past points accumulated and also future credits (after you become Burgundy) will be 5:4 ratio.

So you better become Burgundy soon, because they may need to wait for one quarter to see if you maintain the 10 lacs AQB.

 

[unwind]

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.

Except for Accor, miles/points do not have fixed value. So one has to see what value you are getting per mile. If the revenue ticket is cheaper, you should not use miles

Vistara I frequently get more than 1 Rupee. Many times around 2 Rupees. For example I have to go to Chandigarh from Mumbai on the 6th November. I booked at 5k miles plus 500 bucks. But revenue ticket is 10700 plus on Vistara. Even on Indigo it's 7700 or so. But the timing does not work for me.

So you do your maths and choose whether to use miles or not. I almost always get more than 1 Rupee for Air miles. Especially on Vistara on the last minute travel, if the availability is there. Vistara also comes out with discounted award tickets with 30% lesser miles every once in a while. Though its been a while since they have done that.

At times I use my miles for 85-90 paise too on Vistara as the award ticket gives me the flexibility to cancel at 15% of miles charge or change at 10% of miles. So I pay for the flexibility when I think there is chance I may not travel. On the revenue ticket, depending upon the ticket, cancellation charges are much higher

And not just Vistara, Krisflyer, United, Turkish, its fairly easy to get 1 Rupee plus. If you can find a sweet spot you can go upto 2 Rupees too. And the added flexibility to cancel😀

 

[drsel]

Right now with oil prices going up, airfares have zoomed and continue to keep going up for both domestic and international flights.

So it's good to be using airmiles instead of cash, because the redemption number of airmiles is the same, so the value assigned to each airmile has effectively gone up

 

[Thomas244]

Just to ask if we transfer 10 lakh from our main account to axis account
It will create problem in income tax or not ?

No problem

 

[mastfun]

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

I just called Axis, Opened Burgundy account with 10L on 22nd sept, They said for new accounts we will have to talk to RM.
She clearly mentioned that the TRV should be 30L and not 10L AQB, and for new accounts AQB will not be 10L before Nov 😀 So it's a joke !!

 

[Thomas244]

Th

I just called Axis, Opened Burgundy account with 10L on 22nd sept, They said for new accounts we will have to talk to RM.
She clearly mentioned that the TRV should be 30L and not 10L AQB, and for new accounts AQB will not be 10L before Nov 😀 So it's a joke !!

is is what my rm also told and shared earlier. 10 lakh saving will not be eligible for free card because after dec free offering will close. He said 30 lakh will get immediatel. I also waited because I thought he was pulling for more funds

 

[SM24]

I just called Axis, Opened Burgundy account with 10L on 22nd sept, They said for new accounts we will have to talk to RM.
She clearly mentioned that the TRV should be 30L and not 10L AQB, and for new accounts AQB will not be 10L before Nov 😀 So it's a joke !!

I received a similar confirmation wrt 30L TRV being eligible and not 10L AQB, currently.

Wait for a few days.
Let the dust settle was the suggestion.

 

[mastfun]

Th

is is what my rm also told and shared earlier. 10 lakh saving will not be eligible for free card because after dec free offering will close. He said 30 lakh will get immediatel. I also waited because I thought he was pulling for more funds

30L will give immediately but what about maintaining it 🙂 I will try to talk to RM, if they say the same, good bye Burgundy and Magnus 🙂

 

[drsel]

Th

is is what my rm also told and shared earlier. 10 lakh saving will not be eligible for free card because after dec free offering will close. He said 30 lakh will get immediatel. I also waited because I thought he was pulling for more funds

Burgundy customer care said after 45 days of becoming Burgundy, your branch will check 10 lacs AQB in Burgundy savings account and then send email to upgrade

 

[SM24]

Th

is is what my rm also told and shared earlier. 10 lakh saving will not be eligible for free card because after dec free offering will close. He said 30 lakh will get immediatel. I also waited because I thought he was pulling for more funds

There is a 45 day cooling period angle in the document to be eligible for upgrade via TRV + a latest one glance statement TRV angle to be eligible for upgrade 😁