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Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

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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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An update

My BM via RM and credit card guy are following up with Burgundy Green channel.

When the customer is eligible, why is M4B not activated for him, is their ask.

PS:
I’ve been having over 10L+ in savings account, across August and September One Glance Statements.

Will keep the group posted, once I hear back.
 
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Spoke to corporate RM of Axis for my company. As per him, salary account with 3L+ salary makes it a Burgundy account, on top for this account, they are offering Magnus CC life time free. You dont need to have TRV of 30L if you have Burgundy salary account for this LTF scheme
 
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svs_23 said:
I have got
Click to expand...
Thanks for all your replies. I am getting positive vibes because of your replies. My sep salary got credited still they haven't applied offer on my card as I am not maintaining TRV. I wrote to pno and waiting for response.
NeoOnWheels said:
Spoke to corporate RM of Axis for my company. As per him, salary account with 3L+ salary makes it a Burgundy account, on top for this account, they are offering Magnus CC life time free. You dont need to have TRV of 30L if you have Burgundy salary account for this LTF scheme
Click to expand...
is it Magnus (5:2) or Magnus for burgundy (5:2)?
 
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Some Updates

Some Ping Pong emails are going on with PNO and Premium Service. They have now asked for 2 OGS statements. I have shared 2 but Aug one is password protected intentionally ;-) I have shared current statement for October, One Glance for Sep and One Glance for Aug. I want them to come back and say that 2 OGS is required with AQB of 10 Lacs so that I can escalate further saying you have mentioned 45 days now why are you asking for 2 OGS which means 60+ days ;-)
 
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K.R said:
Some Updates

Some Ping Pong emails are going on with PNO and Premium Service. They have now asked for 2 OGS statements. I have shared 2 but Aug one is password protected intentionally ;-) I have shared current statement for October, One Glance for Sep and One Glance for Aug. I want them to come back and say that 2 OGS is required with AQB of 10 Lacs so that I can escalate further saying you have mentioned 45 days now why are you asking for 2 OGS which means 60+ days ;-)
Click to expand...
For me still no updates 😀
 
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Rags said:
Thanks for all your replies. I am getting positive vibes because of your replies. My sep salary got credited still they haven't applied offer on my card as I am not maintaining TRV. I wrote to pno and waiting for response.

is it Magnus (5:2) or Magnus for burgundy (5:2)?
Click to expand...
Magnus for Burgundy. Not sure if its 5:2 or 5:4.
 
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MilesMax said:
Awesome. All they need is ITIN that's it? no income statements or anything?

But what did you find so lucrative about this card?
Base reward is 2 mile / dollar. 5 on flights and 10 on hotels. Doesn't match up to the Magnus standards.
Click to expand...
Yes ITIN and they asked me for the ID and Salary statements.

Advantages:
1. Yes but they have $750 worth of points (75000) if we spend $4000 within 90 days. (Term insurance, My Travel Plan in Dec and Prepayment of school fees will cover it 🙂 ) to get 75000 points equivalent to $750.
2. Unlimited lounge access + 2 guests to tag along. International + Domestic.
3. Free add-on card and they get the same benefit as Primary for Lounges.
4. $300 Credit for Travel every year!
5. $100 worth of points on renewal!
4 and 5 will cover your renewal charges!!
6. Cell Phone Protection - Protect your cell phone every time you pay your bill with your Venture X card. If it’s stolen or damaged, you’ll get reimbursed up to $800. Certain terms, conditions and exclusions apply. (Not sure if applicable to India)
5. Price Match for redeeming points/Travel/Hotel etc ...
6. Extended warranty for your purchases.
7. Enjoy a $100 experience credit, daily breakfast for 2 and other premium benefits, plus earn 10X miles on hotel stays booked through Capital One Travel.
8. Unlock premium benefits with every stay, like a $50 experience credit, room upgrades when available and more. Plus, earn 10X miles on hotel stays booked through Capital One Travel.
9. Get reimbursed for damage or theft when you pay for a rental car with the Venture X card (In India u can claim if u take rental cars from Hertz/Avis etc international brands)
10. Hertz President’s Circle® status - Get free upgrades of your rental cars!!

Another thing to note is: No Foreign Transaction Fees
All these with $105 back to your pocket 😀 You pay $395 , You get $300 travel credit, $100 Anniversary or renewal credit , $100 Experience credit for hotel stays!!
Unlimited lounges is a bonus 🙂 I did spend 8 hours in different lounges in the same day using PP from Amex (This is similar with capitalone V X). And more over this will be digital PP and u don't have to carry physical PP with u.

No need to maintain 10L AQB/3L Salary credited/ 30 NRV/TRV.
 
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mastfun said:
Got an reference number for the request!! I will update once I get approval!!
Click to expand...
I can see the new application now , fingers crossed... Not sure if they will approve my credit card as I already hold a Magnus card 😅

1697028005850.png
 

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