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 9785]

List of Vistara destinations - Wikipedia

en.wikipedia.org

 

[CARDBITRAGE]

Had got magnus 4 days ago. What's the point of chasing 1Lac spending mark when there are no lucrative benefits 🙁

Can someone pls share tips on how to get Infinia. ( if there is any thread then pls share link) will apply for it on Monday.

Infinia is a pain. Easiest way is to upgrade an existing HDFC card when it hits 10L limit. That also has some hindrances sometimes.

 

[Anonymous ツ]

book your tickets. once all start redeeming then there wont be any award seats left as well across partners.

uske liye points bhi to hone chahiye.. got my Magnus card last month only. 🙁

 

[rogerthat]

Got the card only in May. So if nothing changes will close it I (and Select along with it) in April 2024.

Someone needs to run a poll on how many folks will be renewing this card in the next cycle

 

[Deleted member 9785]

uske liye points bhi to hone chahiye.. got my Magnus card last month only. 🙁

Unsustainbale schemes me aisa hi hota hai. 10% make merry the remaining last 80-90% get stuck

 

[rohitb]

During peak season, one can easily extract more than 1rs per mile for flights to Europe. So, 1Rs can be assumed as an average case.

Ok it didn't come out the way I wanted.
I Airline point if used for sweet spots , sometimes is worth even 2-3₹.

 

[rajat30]

Had got magnus 4 days ago. What's the point of chasing 1Lac spending mark when there are no lucrative benefits 🙁

Can someone pls share tips on how to get Infinia. ( if there is any thread then pls share link) will apply for it on Monday.

Infinia won't be easy. HDFC still call Regalia super premium lol.

 

[CARDBITRAGE]

Unsustainbale schemes me aisa hi hota hai. 10% make merry the remaining last 80-90% get stuck

A lot of loopholes and tricks were there to exploit the card, so what else can we expect them to do? People were looting Axis left and right

 

[1RC]

Infinia won't be easy. HDFC still call Regalia super premium lol.

You are so right. This is were the actual weed gets separated. There are so many folks who applied for Magnus and killed the card. Axis's practice was BS. They should have kept an actual income cap on Magnus, just like HDFC did to infinia

 

[Deleted member 9785]

A lot of loopholes and tricks were there to exploit the card, so what else can we expect them to do? People were looting Axis left and right

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[bonheur]

Just asking. For Infinia isnt there a limit of 15k accumulation points in a month? Or is it unlimited. And for spends the reward rate is 3.33% only right - like DCB? In that case isn't Magnus at 6.2% a good card still? Just trying to understanding this

Big difference is Infinia is flat 3.3% for all spends, Magnus is (now) 6.2% only post 1L, but 1.2% pre.

 

[Hisoka]

Dheere dheere message karo yar. Ek page padta hun turant ek aur page add ho jata hai thread me.


Btw really disappointed with the devaluation. Kuch din pehle mere muh se rishtedaaro ke aage nikal gaya tha ki mere paas Magnus hai. Unhi ki buri nazar lagi hai 😤

 

[Hisoka]

Agar Axis Magnus ke V1 ko ye bolke upgrade karta ki dekho plastic se metal kar diya hai aur har month 25k bonus points bhi milenge. Toh sab pagal ho jate, lekin kyuki unhone zyada hi upgrade kar diya aur ab vapis normal karne ki koshish kar rahe hai toh sabka dimag hil gaya hai 😂


Kaash thoda pehle ye card liya hota mene

 

[anirban.choudhuryanirban.choudhury is verified member.]

Someone needs to run a poll on how many folks will be renewing this card in the next cycle

Jiske pass Magnus hai usme already sayad next year ka waiver meet krliya hoga 😀

 

[Harry13]

Got Magnus last month only! Tomorrow only I was gonna make a Twitter thread on how good this card is and tada!
This is a terrible news! Absolutely terrible for genuine spenders. I had already completed my monthly milestone in the first month and already halfway through in the second.
Not renewing it next year if this turns out to be true.
Feels like I wasted my 12k rs and diligently spent so much on it, and worse - I called DCB and Infinia names in front of my HDFC Bank RM.

Time to get Amex!

 

[chasni]

At least now, I don't have to spend time auditing my statements and tallying ER points.

 

[Walter White]

Got Magnus last month only! Tomorrow only I was make a Twitter thread on how good this card is and tada!
This is a terrible news! Absolutely terrible for genuine spenders. I had already completed my monthly milestone in the first month and already halfway through in the second.
Not renewing it next year if this turns out to be true.
Feels like I wasted my 12k rs and diligently spent so much on it, and worse - I called DCB and Infinia names in front of my HDFC Bank RM.

Time to get Amex!

Bach gye. Agar ek din pehle daalte toh saari mehnat waste ho jaati. Sab delete karna padta.

 

[anirban.choudhuryanirban.choudhury is verified member.]

vistara flies to france from where ? how many points

Delhi to Paris

 

[Tocoliso]

The only way to teach to a lesson to axis bank is through shorting the stock. The same thing happened in case of ganestock.

There also the hedge funds mis calculated the power of a community.

If all the techno fino members can jointly bring the stock down even by 2% it will send shock waves. Let's us see if we can pull something like gamestop.

 

[rajat30]

You are so right. This is were the actual weed gets separated. There are so many folks who applied for Magnus and killed the card. Axis's practice was BS. They should have kept an actual income cap on Magnus, just like HDFC did to infinia

the problem is opposite for HDFC though. They do not even offer infinia, when the income is met. They gatekeep the card a lot.
A middle group would be good for both cards, have a proper limit of salary/ITR but just use it diligently. Do not gatekeep like HDFC, but also do not open the floodgates like Axis did with c2c, that too on cards like APay which offers high limit to basically anyone.