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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

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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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I had first approached my RM to open a Burgundy account in late July but after several delays my account was finally opened in Mid September. I have FDs of ~27L with axis and had 4-5L cash in my account during the month of August. The latest one glance shows a ~31L TRV. However, I haven't yet been upgraded as Burgundy support keeps getting an error. RM as usual has proven useless too. Today, I had a long call with Burgundy support, and the outcome was that I will need to wait (for 45 days) and continue to maintain this balance. But knowing Axis, I don't trust things to go smoothly.

I've decided to not waste any more time on this and wait until early November.
 
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I am burgundy customer for past 6 years but do not have old Magnus CC as i do not fulfil their eligibility. Was visiting my branch this morning for some other work, where my RM told me that I can get paid Magnus CC. I knew he was bluffing but still gave my acceptance to apply for the same as I can recover the charges though welcome vouchers and spends. KYC was done by CC agent and SMS received confirming its a paid card with Rs. 12500 charges. So if by chance, my RM is able to get me a paid Magnus(which he is very confident of), then :
1. Can I convert it to LTF before Nov 30 as I am a burgundy customer ?
2. Can the welcome Yatra gift voucher be used for hotel bookings ?
3. Will I be getting 5:4 conversion ratio ?

RM & CC agent say that I will be enjoying all Magnus Burgundy benefits and once I get the card , call burgundy cc and convert it to LTF. My plan is to utilise it for the year(only other CC i hold is Axis Select) and then try to waive off renewal fees or close the card.
Hoping I am making a financially wise decision.
 
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Navigator_Ravi said:
I am burgundy customer for past 6 years but do not have old Magnus CC as i do not fulfil their eligibility. Was visiting my branch this morning for some other work, where my RM told me that I can get paid Magnus CC. I knew he was bluffing but still gave my acceptance to apply for the same as I can recover the charges though welcome vouchers and spends. KYC was done by CC agent and SMS received confirming its a paid card with Rs. 12500 charges. So if by chance, my RM is able to get me a paid Magnus(which he is very confident of), then :
1. Can I convert it to LTF before Nov 30 as I am a burgundy customer ?
2. Can the welcome Yatra gift voucher be used for hotel bookings ?
3. Will I be getting 5:4 conversion ratio ?

RM & CC agent say that I will be enjoying all Magnus Burgundy benefits and once I get the card , call burgundy cc and convert it to LTF. My plan is to utilise it for the year(only other CC i hold is Axis Select) and then try to waive off renewal fees or close the card.
Hoping I am making a financially wise decision.
Click to expand...
Please take the confirmation in writing. He is just trying to meet his targets.
 
Last edited:
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I have a Burgundy salary account since August 31. Tried calling CS, RM, sent emails, but no luck in getting the Burgundy card. Nobody seems to know what to do. Anyone faced this issue and got a resolution?
 
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This is with reference to your e-mail dated 01-10-2023, we understand your concern about the reward points not being credited for the transaction made on your credit card ending with 8241. We will check and assist you in this regards.



We would like to inform you that, We acknowledge your concern regarding reward points not being credited for grocery spends and we have received an updated stating" the given transactions MCC code is 5411 and same is not eligible for the Edge Reward Points.



Hence no Points are reflecting for the same.



We request you to wait for a stipulated time period to have an update on the same.

Your cooperation and patience is much appreciated in the interim.


We thank you for banking with us & look forward to your continued patronage.



We assure you the best of our services at all times.


For an instant response, you may also “CHAT” with us from https://www.axisbank.com/support or for any other query you may visit below links.
Personal Phone Banking Link
NRI Phone Banking Link
Business Phone Banking Link
Agri Rural Phone Banking Link
Burgundy Phone Banking Link
Forex Card Phone Banking Link

Warm Regards,
Manoj Kumar P – (Premium Customer Support)
Team Axis Bank
Dil Se Open


Go from Help to Self-Help with #EASYBANKING Video Series. Visit https://www.axisbank.com/support to check out our self-help videos in the Video Library.
Axis Bank will not ask for your CVV, OTP, PIN, Card Number, Passwords, etc. Do not share these details with anyone.
Practice safe banking! Visit Fraud Awareness Repository (axisbank.co.in)
Report any financial or cyber related crimes immediately to Ministry of Home Affairs (MHA) – National Cyber Crime Reporting Portal via their toll-free helpline number ‘1930’ or website – https://cybercrime.gov.in/


On 01-10-2023 20:09, sjj23288@gmail.com wrote:

CAUTION : External Email - VALIDATE SENDER before CLICKING on Links/Attachments.

Hi Mahalakshmi ,
Kindly read your select card terms and conditions. It will come under grocery stores. It is eligible for 2x spends.
Attached is the screenshot from your website. May I know why it is suddenly not eligible ?
 
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