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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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MilesMax said:
I did. It's of no use. Premium experience doesn't seem to do anything. Each email has different criteria.

I have written to PNO about it. If PNO also doesn't acknowledge then will escalate further.
Click to expand...
Please do share here the other escalation email id's... As i will do the same before finally involving RBI mail ID's
 
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Viper1057 said:
If needed you can include my details as well since as per their TnC and 45 days I am eligible but if 2 OGS required then their own document is not valid and not released in due time to allow anyone have 2 OGS generated. I applied for account as soon as their TnC were released but account got activated by 4th Oct so not my problem that I won't have a 2 OGS by Nov 30
Click to expand...
We should jointly handle this Bank
 
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MilesMax said:
Were you applying for upgrade or new card?
Click to expand...
Ok the point is simple 🙂
I will be getting a new Burgundy Magnus card (Instead of Select LTF Card) with BM approval!

Process: This is for new Burgundy Relation, who hasn't applied Select card with Burgundy**
1. Open / Convert to Burgundy account. (10 Lakhs in Savings account)
2. Wait for 2 weeks for your account to reflect Burgundy and Customer ID is generated.
3. Request your BM/RM for courtesy approval of Magnus Burgundy card as LTF instead of Select LTF.
4. RM/BM will send out a mail to CC team for the same.
5. RM/BM will get an consent from CC team.
6. RM will apply for new card with LTF 🙂

The application will go through the normal Axis approval process and you will receive your Magnus LTF card.

Note: You will not be able to transfer your existing edge points to 5:4 ratio, as this will be new card.

Points to be noted according to my Zonal Head, This is applicable to all Burgundy customers 🙂
 
Upvote 0 Downvote
mastfun said:
Ok the point is simple 🙂
I will be getting a new Burgundy Magnus card (Instead of Select LTF Card) with BM approval!

Process: This is for new Burgundy Relation, who hasn't applied Select card with Burgundy**
1. Open / Convert to Burgundy account. (10 Lakhs in Savings account)
2. Wait for 2 weeks for your account to reflect Burgundy and Customer ID is generated.
3. Request your BM/RM for courtesy approval of Magnus Burgundy card as LTF instead of Select LTF.
4. RM/BM will send out a mail to CC team for the same.
5. RM/BM will get an consent from CC team.
6. RM will apply for new card with LTF 🙂

The application will go through the normal Axis approval process and you will receive your Magnus LTF card.

Note: You will not be able to transfer your existing edge points to 5:4 ratio, as this will be new card.

Points to be noted according to my Zonal Head, This is applicable to all Burgundy customers 🙂
Click to expand...
what happens to your existing magnus. As I understand. You have/had a Magnus and now instead of Select you applied and got Magnus For Burgundy. Please correct my understanding 🙂 . You said The RM is coming today and at the same time you mentioned the CC will go through the normal approval Process but at the same time you posted the Approved SMS. Is that so quick 😎
 
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