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

 

[mastfun]

Is he living in US?

Nope, he is in India!! He got the card using ITIN!
Looks like anyone can apply for ITIN.

He got it approved with 20,000 USD.

 

[Viper1057]

One of my friend got very frustrated with Axis and applied for US bank card

Venture X Rewards | Capital One

Earn miles on hotels and rental cars as well as miles on flights booked with Capital One Travel, plus miles on all other purchases. Apply today.

www.capitalone.com

View attachment 31804


They have unlimited lounge access to self + 3 guests. And the fee is 395, where 300 will be given back as Travel credit

View attachment 31805

Review:

Capital One Venture X credit card review: Luxury perks with a reasonable annual fee - The Points Guy

The Capital One Venture X has premium benefits for a low annual fee, making it a no brainer for many luxury-seeking travelers. Elevate your travel experience with lounge access, travel credit, and excellent transfer partners.

thepointsguy.com

Is the friend name Ganesh?

 

[mastfun]

Is the friend name Ganesh?

How do u know Ganesh

 

[Dexter]

How do u know Ganesh

He is secretly Ganesh

 

[bigbrain]

How long you didn't use regalia? And what are the documents sent to chennai office? Existing card limit?

I did not use Regalia for 6 months. Before stopping I had used about 6 lakhs in 6 months. HDFC refused to upgrade and decided to stop using except for Rs189 every month for a subscription. However, i continuesd to use TATA neu infinity card for about a max of 5k per month.
I sent a copy of my payslip only. I had a salary of ~2lakhs so i thought it is of no use to try Infinia and asked for DCB
Existing card limit 10 lakhs.

 

[RupayMan]

I did not use Regalia for 6 months. Before stopping I had used about 6 lakhs in 6 months. HDFC refused to upgrade and decided to stop using except for Rs189 every month for a subscription. However, i continuesd to use TATA neu infinity card for about a max of 5k per month.
I sent a copy of my payslip only. I had a salary of ~2lakhs so i thought it is of no use to try Infinia and asked for DCB
Existing card limit 10 lakhs.

Ok makes sense now, 6 lakhs and 10 L limit, plus salary all match for their infinia criteria.

 

[Rags]

You are already eligible. You should give a tough fight and involve Ombudsman if required.
Note you have to give a fight over email and not calls. If at all calls record the calls and tell them that the call is being recorded and will be shared with RBI for false statements and misleading the customers. Then see the magic how their language and stand changes
If you don't do this they will treat you like a door-to-door beggar, and they thinking themselves as the CEO of the Bank. Remember you are a customer, and you are not asking any favor or doing illegal.

Is there any one in the group who got new Magnus for burgundy purely on the basis of salary criteria without meeting TRV?

 

[MilesMax]

Just got a call today morning from Premium experience after sending my OGS.
You have maintained 10L for September month, same has to be maintained for 45 days more to get an upgrade.
He asked me to call back on Nov 15 and they would upgrade it.

 

[ishanmontella]

Just got a call today morning from Premium experience after sending my OGS.
You have maintained 10L for September month, same has to be maintained for 45 days more to get an upgrade.
He asked me to call back on Nov 15 and they would upgrade it.

Cool. Do get the same in writing from them as well. So, basically there would be many new Burgundy account openers looking to maintain 10 lacs for October, but waiting 45 days for them would mean breaching the deadline for this offer.

And if TRV of 30 lacs too requires to a wait of 30+45 days, then why would anyone open a Burgundy account after their official announcement

 

[MilesMax]

Cool. Do get the same in writing from them as well. So, basically there would be many new Burgundy account openers looking to maintain 10 lacs for October, but waiting 45 days for them would mean breaching the deadline for this offer.

And if TRV of 30 lacs too requires to a wait of 30+45 days, then why would anyone open a Burgundy account after their official announcement

Yes got the email too. Is the deadline only to get it LTF or to get the card itself? As in people who get it post nov 30th can still get 5:4 but not LTF right?

It's sad that they never communicated the 30+45 days earlier. Most people who opened recently didn't know about this. It would have saved many people from going through the hassle of opening the Burgundy only to get disappointed.
If it's not for the Magnus Burgundy I wouldn't maintain 10L AQB in Axis for sure.

 

[chasni]

Just got a call today morning from Premium experience after sending my OGS.
You have maintained 10L for September month, same has to be maintained for 45 days more to get an upgrade.
He asked me to call back on Nov 15 and they would upgrade it.

If you have maintained for Sep then shouldn't you be eligible for upgrade by 15th Oct, as per 45 days thing?

 

[Vaastav]

Is Magnus accelerated 35/200 On Monthly Basis or on Billing Cycle Basis??

 

[RupayMan]

I applied for 2 addon card for my current magnus a month back, and it got approved within 2 weeks, in app also was showing 2 addon cards, and some tech glitch to dispatch the card physically, it took another 2 weeks, but inbetween one of my addon card gone from the app, CC told my addon is getting upgraded to burgundy Magnus, funny part primary card is yet to be upgraded. But got both cards physically after one card got blocked.

Typical Axis. Typical Problems. Typical Waiting time.

 

[K.R]

I applied for 2 addon card for my current magnus a month back, and it got approved within 2 weeks, in app also was showing 2 addon cards, and some tech glitch to dispatch the card physically, it took another 2 weeks, but inbetween one of my addon card gone from the app, CC told my addon is getting upgraded to burgundy Magnus, funny part primary card is yet to be upgraded. But got both cards physically after one card got blocked.

Typical Axis. Typical Problems. Typical Waiting time.

Congrats . Take it in writing.

 

[SM24]

One

Just got a call today morning from Premium experience after sending my OGS.
You have maintained 10L for September month, same has to be maintained for 45 days more to get an upgrade.
He asked me to call back on Nov 15 and they would upgrade it.

I've maintained >10L in August. Reflected in OGS.
I've maintained >12L in September. Reflected in OGS.

This would make me eligible when please ?

 

[ishanmontella]

According to the formula of 30+45 days stated by @MilesMax , you should be eligible on 15th of October

I've maintained >10L in August. Reflected in OGS.
I've maintained >12L in September. Reflected in OGS.

This would make me eligible when please ?

 

[SM24]

According to the formula of 30+45 days stated by @MilesMax , you should be eligible on 15th of October

L-ax-is

Dumb effs.

 

[K.R]

I've maintained >10L in August. Reflected in OGS.
I've maintained >12L in September. Reflected in OGS.

This would make me eligible when please ?

They are giving all possible Fake stories ;-) Srihari you are eligible and you should escalate. I am in the process of escalating today

My RM told they have not received any email (based on my ticket) on How the RM can get it upgraded. Also When I asked to check the status of the Ticket the guy read that the response, they go on the Ticket is to wait till 11th as the One Glance gets reflected on 10th of every month. Upon which I said But I received it on 6th October and everyone received on the same date. May be be for them it reflects only on 10th.. Irrespective of that I am going to write a stinker today asking to Upgrade by 11th or give an concrete ETA in a written email by when or let me know It cannot be upgraded s That I can raise a dispute with RBI for misleading.

 

[Viper1057]

According to the formula of 30+45 days stated by @MilesMax , you should be eligible on 15th of October

And according to this I won't be eligible because my account got activated on 4th October

 

[K.R]

And according to this I won't be eligible because my account got activated on 4th October

Their FAQ clearly says reach out to customer care in 45 days since opening the account.