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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

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-- 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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mastfun said:
Can u see 10L AQB? Are u planning to call them 😉 I opened account on 22nd of Sep, So I think I will have to wait till Nov 1st week 🙂
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Same boat as me. My RM is not yet assigned and haven't recieved my burgundy kit yet but I have added funds of 11.25lakh from 4th oct onwards so that OGS will have 10.1+lakh amount as balance maintained for whole october month.😎
 
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RupayMan said:
Guys, 30L TRV is must, please read TnC first page again.
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I don't for how long we will keep going on with such false info guys who just come again and again once we change pages on this thread and thinks they know the "best" here lmao🤣

I request you to kindly search "AQB" in this thread and you will find several people who already got on the basis of that.
 
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Viper1057 said:
I don't for how long we will keep going on with such false info guys who just come again and again once we change pages on this thread and thinks they know the "best" here lmao🤣

I request you to kindly search "AQB" in this thread and you will find several people who already got on the basis of that.
Click to expand...
I just repeat what CC is telling the same, and I am the one who affected too.. offer not eligible yet for me. And CC quoting TnC for TRV is must.
 
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RupayMan said:
I just repeat what CC is telling the same, and I am the one who affected too.. offer not eligible yet for me. And CC quoting TnC for TRV is must.
Click to expand...
How old is your account? If its older than 2 months and if you ever for a single month in all those period not really maintained the AQB for burgundy, then probably you won't be eligible now. Also, customer care can only upgrade if they can see the option on their screen else they don't know anything and speaks whatever they think is "right". 99.9% of times customers know more than them.

Also if you already hold 3 or more credit cards from axis, then also they won't be able to generate a card.
 
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Viper1057 said:
How old is your account? If its older than 2 months and if you ever for a single month in all those period not really maintained the AQB for burgundy, then probably you won't be eligible now. Also, customer care can only upgrade if they can see the option on their screen else they don't know anything and speaks whatever they think is "right". 99.9% of times customers know more than them.

Also if you already hold 3 or more credit cards from axis, then also they won't be able to generate a card.
Click to expand...
May be that 3 card is the problem for me, but still CC adamant of TRV meeting criteria because couple of times repeated the same dialogue from different executive. I wish that should not be true too..
 
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RupayMan said:
May be that 3 card is the problem for me, but still CC adamant of TRV meeting criteria because couple of times repeated the same dialogue from different executive. I wish that should not be true too..
Click to expand...
Close any one card because CC can't generate any credit card let alone burgundy magnus if you already hold 3 cards. Also, you didn't mention your account age, do note my first paragaph and you might not be eligible due to that as well, if your all monthly OGS since account opening time has 10lakh mentioned in average balance maintained, then you should be good.
After closing CC, you may wait for 30-45 days and try again if there isn't any issue anywhere else.

Axis software is mind blowing (in bad terms) and there is still no guarantee if you will get it xD
 
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Viper1057 said:
Close any one card because CC can't generate any credit card let alone burgundy magnus if you already hold 3 cards. Also, you didn't mention your account age, do note my first paragaph and you might not be eligible due to that as well, if your all monthly OGS since account opening time has 10lakh mentioned in average balance maintained, then you should be good.
After closing CC, you may wait for 30-45 days and try again if there isn't any issue anywhere else.

Axis software is mind blowing (in bad terms) and there is still no guarantee if you will get it xD
Click to expand...
Mine is not yet 45 days, i can wait on that, but magnus they are going to close and give new one only right, why we have to close existing card ourselves? Our admin itself having 4 axis card yet he didn't close it
 
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RupayMan said:
Mine is not yet 45 days, i can wait on that, but magnus they are going to close and give new one only right, why we have to close existing card ourselves? Our admin itself having 4 axis card yet he didn't close it
Click to expand...
They will close old magnus but after atleast 30~45 days later of activation of new burgundy magnus. Which admin you are talking about, @Subhankar ? I don't think he hold 3 or more cards when he got upgraded to burgundy magnus through customer care.

You can even get a 4th card from axis through multiple ways, but through customer care upgrade/new card process, you can only get upto 3 cards.
Though don't quote me on this, not sure of axis software if they changed specially for burgundy magnus case or such.

You can give a try after 45 days again!
 
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