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

 

[CVR]

There is a new risk that all future transactions with other cards in your portfolio (other than Reserve Select Privilege Rewards) will get only 20:1 ratio for Accor hotels and foreign partners when you have Magnus Burgundy card

but why will you even transact with other cards? this risk is not even practical.. just use magnus burgundy and get 5:4 on everything.. what is the need to use other cards

 

[drsel]

Magnus Burgundy holders kindly let us know what point conversion ratio you get when you use your other cards

 

[Saijakie]

Hi ,
Has anyone is this forum noticed that there is no reward points credited for international transactions done on my Magnus and select credit card after 31st Aug 2023 . I have recieved reward points for all the local transactions though till sep 28th 2023 .
Kinldy check and update if anyone recieved .

 

[drsel]

Hi ,
Has anyone is this forum noticed that there is no reward points credited for international transactions done on my Magnus and select credit card after 31st Aug 2023 . I have recieved reward points for all the local transactions though till sep 28th 2023 .
Kinldy check and update if anyone recieved .

This is abnormal, the points earned from international transactions on old Magnus and Select should be seen after 2--3 days.
Please complain to customer care and let us all know why.

 

[ishanmontella]

Hi ,
Has anyone is this forum noticed that there is no reward points credited for international transactions done on my Magnus and select credit card after 31st Aug 2023 . I have recieved reward points for all the local transactions though till sep 28th 2023 .
Kinldy check and update if anyone recieved .

I have received all the reward points on international transactions done using Magnus in the month of September. Please reach out to customer care asap.

 

[Prav]

After cooling period (newly opened account)for those who want to apply fresh magnus burgundy, will they follow the same procedure of applying new credit card?
Please someone help

 

[drsel]

After cooling period (newly opened account)for those who want to apply fresh magnus burgundy, will they follow the same procedure of applying new credit card?
Please someone help

After the 45 days mandatory cooling off period, check if your AQB is 10 lakhs and then phone burgundy customer care to send you the email link

 

[Saijakie]

This is abnormal, the points earned from international transactions on old Magnus and Select should be seen after 2--3 days.
Please complain to customer care and let us all know why.

Thanks . will complaint and let you know

 

[Saijakie]

I have received all the reward points on international transactions done using Magnus in the month of September. Please reach out to customer care asap.

Thanks for the reply .Will reach out to customer care and update.

 

[saketreddy]

Hi ,
Has anyone is this forum noticed that there is no reward points credited for international transactions done on my Magnus and select credit card after 31st Aug 2023 . I have recieved reward points for all the local transactions though till sep 28th 2023 .
Kinldy check and update if anyone recieved .

Received as usual

 

[Prav]

After the 45 days mandatory cooling off period, check if your AQB is 10 lakhs and then phone burgundy customer care to send you the email link

Do i need to follow the whole process of new credit card application(not holding old magnus)
And it will be approved subject to approval?

 

[drsel]

Do i need to follow the whole process of new credit card application(not holding old magnus)
And it will be approved subject to approval?

All of us have the old Magnus, so we don't really know.
it's better you call Burgundy customer care and they will guide you

 

[K.R]

Do i need to follow the whole process of new credit card application(not holding old magnus)
And it will be approved subject to approval?

Yes. Like any other new CC

 

[kalratush]

I have had the new Magnus burgundy card for 2 days now, and my edge reward points have not yet converted to Magnus burgundy points. Even customer care said they are not sure about the TAT for this yet since it’s new.

 

[drsel]

I have had the new Magnus burgundy card for 2 days now, and my edge reward points have not yet converted to Magnus burgundy points. Even customer care said they are not sure about the TAT for this yet since it’s new.

The software should get sorted out by end october.
Axis is expected to offer one time transfer of all ordinary Edge points to Burgundy points

 

[kalratush]

The software should get sorted out by end october.
Axis is expected to offer one time transfer of all ordinary Edge points to Burgundy points

Oh right, hope they get that sorted soon

 

[anupam77]

Has anyone received the Aug milestone bonus of 25,000 Edge points yet? Long due.

 

[vikramsrit]

Has anyone received the Aug milestone bonus of 25,000 Edge points yet? Long due.

This would be post 90 days.

 

[Viper1057]

This would be post 90 days.

Not post 90days, its before 90days. Mostly it comes just around 80~90days so we can expect it in 3rd or 4th week of November mostly.

 

[ankurarora898]

small query I called my rm to upgrade my account to burgundy,I have 8lakh in it and I will out to more but she said it has to be 10 lakh in the past quater to convert my savings account into burgundy.Is it like this?