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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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Krishnaraju said:
Nothing like that.. You can give a fight. You were not aware about the criteria.. Point is after they informed..did you maintain the balance
Click to expand...
I started maintaining the balance 15 days before the actual announcement. But you already know that Axis and Logic doesn't come in the same sentence. Moreover, it is hard to deal with their CC and RMs. I will call them next month if it works then all good else I will move my balance to the original accounts and transfer the remaining points at 5:2. It is not worth the headache given their service.
 
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chasni said:
I started maintaining the balance 15 days before the actual announcement. But you already know that Axis and Logic doesn't come in the same sentence. Moreover, it is hard to deal with their CC and RMs. I will call them next month if it works then all good else I will move my balance to the original accounts and transfer the remaining points at 5:2. It is not worth the headache given their service.
Click to expand...
I called up Axis Bank an hour back. The guy told 30 lacs TRV and I literally blasted him for 10 minutes and asked to connect to his RM. His RM also started giving contradictory answers. Then I blasted him and he confirmed that 10 lacs AQB is good enough. He said they are not able to do it and my RM will do it. I again blasted him. He then said he will write to my RM to check my OGS and enable my new card. . Shared a ticket as well.
Best is I now have recorded audio as well 😎
 
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Krishnaraju said:
I called up Axis Bank an hour back. The guy told 30 lacs TRV and I literally blasted him for 10 minutes and asked to connect to his RM. His RM also started giving contradictory answers. Then I blasted him and he confirmed that 10 lacs AQB is good enough. He said they are not able to do it and my RM will do it. I again blasted him. He then said he will write to my RM to check my OGS and enable my new card. . Shared a ticket as well.
Best is I now have recorded audio as well 😎
Click to expand...
My Zonal Manager also confirmed it's 10L AQB and he promised me to get the upgrade done 😀 He himself opened a ticket for the resolution! Meeting him tomorrow, I will keep you guys posted!
 
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Krishnaraju said:
I called up Axis Bank an hour back. The guy told 30 lacs TRV and I literally blasted him for 10 minutes and asked to connect to his RM. His RM also started giving contradictory answers. Then I blasted him and he confirmed that 10 lacs AQB is good enough. He said they are not able to do it and my RM will do it. I again blasted him. He then said he will write to my RM to check my OGS and enable my new card. . Shared a ticket as well.
Best is I now have recorded audio as well 😎
Click to expand...

You're our crusader. 🙂
 
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rohitb said:
I don't think so sir. I meet the criteria but not getting upgraded due to opening burgundy account digitally.
Click to expand...
I cannot comment on Online Account. You should write and ask premiere Services. One thing is for sure, since you opened online the Local branch may not help you as they benefit nothing from it.
 
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For me too I opened the account just for the upgraded card but opened in August. September OGS shows that I meet the criteria. But Call centre says I am ineligible and should get in touch with the RM. RM says speak to the call centre. Have done this ping pong between them a few times. Have finally given the ultimatum that I would close my account. I honestly think that no card is worth this much effort. They are saying they have escalated it internally. If it gets resolved good enough. Otherwise would close my account. My old magnus is free for the next year as I crossed the 15 L thing. After that would close Magnus too
 
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