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

 

[Harry1]

Jaise Jaise din, ghante, minute, second gujar rahe hai.

Magnus devaluation ka news sach hota dekh raha hai.

Bas kuch he din ki duri hai. Jab woh sach sab k juban pe hoga.

Apne dil ki dharkane tham k baitho dosto. woh ghadi jald he aane wali hai.

Jo apne Biwi k sath honeymoon k sapne Maldives me dekh rahe the, ab woh honeymoon manali me he manana paregi.

Jo pati-patni ab tak 2 bache k sapne dekh rahe the, ki Magnus ki kamayi se uske bache k tuition/school fees bharenge, lagta hai ab 1 he bache se kam chalana parega.

Lol, Nice one.

 

[Tocoliso]

Lol least trigerred Magnus user right there.

Gamestop speculators were in the business of trading stocks Magnus users are not. idk how you came up with this idea though

We underestimate our power most of the times. A few community members made Gamestop scrip a rocket.

Idk why you have limiting belief in saying that cannot be done here. I would say we can do a lot more if we are United and want this to happen.

 

[violetevergarden]

Just asking. For Infinia isnt there a limit of 15k accumulation points in a month? Or is it unlimited. And for spends the reward rate is 3.33% only right - like DCB? In that case isn't Magnus at 6.2% a good card still? Just trying to understanding this

There are two aspects for infinite points. One is base reward rate Rs 5 per Rs 150 (3.3%) and second is accelerated rewards like 5X or 10X.
Base reward rate is uncapped. Accelerated reward is capped to 7500 per day or 15000 per month.
Suppose you spend Rs1,00,000 via smartbuy through 5X.
Then you would get (3.3%*5=16.6%) ideally which would be 16500 points. But here is how it is calculated -
They split it into 1X (base) +4X(accelerated)
Base reward = 3.3% = 3300 Points (1X)
Accelerated = 3.3*4% (4X) = 13.2% = 13200 Points (This may be capped per day to 7500 or per month 15000)

 

[CARDBITRAGE]

There are two aspects for infinite points. One is base reward rate Rs 5 per Rs 150 (3.3%) and second is accelerated rewards like 5X or 10X.
Base reward rate is uncapped. Accelerated reward is capped to 7500 per day or 15000 per month.
Suppose you spend Rs1,00,000 via smartbuy through 5X.
Then you would get (3.3%*5=16.6%) ideally which would be 16500 points. But here is how it is calculated -
They split it into 1X (base) +4X(accelerated)
Base reward = 3.3% = 3300 Points (1X)
Accelerated = 3.3*4% (4X) = 13.2% = 13200 Points (This may be capped per day to 7500 or per month 15000)

The 15k cap is a joke for most people who will come from Axis HNI cards. But that's the best there is for now. :/
That is unless someone can get their hands on Burgandy Private, which I don't think will get devalued.

 

[Abhishek012]

 

[Walter White]

Cover image me sundar si lag rhi thi. Video me buri hi dikh rhi hai. 🤣

 

[VISHESH_BANSAL]

@Chaitanya-a iske naam ka Promocode bhi nikala thha kya Mobikwik ne ?

 

[sinew]

Finance team : What do you mean, you want to switch your salary account back to HDFC ?

 

[Abhishek012]

Yaha kuch aur he chal raha hai - 🤣🤣

 

[Walter White]

Ab school aur tuitions ki fees kaise bharenge 😛

 

[VISHESH_BANSAL]

Yaha kuch aur he chal raha hai - 🤣🤣

Wahi m sochu abhi tak Blame game start kyu nhi hui.

 

[ppac18]

Finance team : What do you mean, you want to switch your salary account back to HDFC ?

🤣

 

[starstruck]

Bhai pichle 3-4 din se meri bayi aankh phadak rahi hai. Abhi ek trip pe ghoomne aya hoon toh socha tha ki travelling accident ho sakta hai.

Par yahan aake news padha ki Magnus devalue ho raha and ab tension nahin hai ki travelling accident hoga.

 

[Sharjeelshaikh]

 

[Walter White]

Sorry @Abhishek012 bhai: 😜

 

[Deleted member 9785]

GN - Signing off for a while now for better money making opportunities / Time Spent

Youtube channel start kar de kya

 

[Sharjeelshaikh]

Let us mass boycott axis cards.

 

[Anonymous ツ]

Mera ER points use krke thailand jane ka sapna , sapna hi reh gya 🙁

 

[Venky]

Sojao bhai, dukh kum hoga. ☹️

 

[rohit3887]

Hi my Reserve card is approved and Dispatched will receive within a day or two. Can someone tell me expected time of Receiving 50k points. I will activate if i can receive and transfer before 12th august otherwise i am not gonna activate that shit.