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]

Congrats!!
well unfortunately this wouldn't work for me as I already hold 3 axis cards so they wouldn't issue a 4th card. 😥

Oh 🙁 I also have 3 cards: Axis Airtel, MyZone and Magnus.... I will update u tomorrow if they approve mine or nowt!

 

[mastfun]

Did

Did they ask for income documents or any other thing

Two months Salary slip to prove my Salary is more than 30L

 

[mastfun]

What documents will be needed ? How long the approval process will take if we go through this route ?

Two months salary slips and 1 Week if everything falls in place!

 

[WhoU]

If we open a new Axis account, is there any chance to get the new LTF Magnus? Also will the points be transferred from old card to new?

 

[skiscova]

Oh 🙁 I also have 3 cards: Axis Airtel, MyZone and Magnus.... I will update u tomorrow if they approve mine or nowt!

I have a citibank indianoil in addition to axis myzone and magnus. Do they count as 2 cards or 3, given that axis has taken over citi cards in India?

 

[Dreamer]

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

I got it like this

 

[K.R]

I have a citibank indianoil in addition to axis myzone and magnus. Do they count as 2 cards or 3, given that axis has taken over citi cards in India?

as on today its 2

 

[svs_23]

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

I have got

 

[svs_23]

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

Monthly basis only

 

[SM24]

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.

 

[ankurarora898]

Congrats!!
well unfortunately this wouldn't work for me as I already hold 3 axis cards so they wouldn't issue a 4th card. 😥

three are not an issue bro,the question is will they issue me the 5th 🤣🤷 as I already have 4.

 

[MilesMax]

three are not an issue bro,the question is will they issue me the 5th 🤣🤷 as I already have 4.

Haha how did you get the 4th one? Offline or online?

 

[raghav101]

What to do?

 

[ankurarora898]

Haha how did you get the 4th one? Offline or online?

online through the app and to top it off got it in first week of September 🙊🤷 Let's see if they upgrade me or not

 

[raghav101]

What to do?

I have been getting this error. Any soultuons? I have not been able to transfer points.

 

[mastfun]

Hi Team,

Another update, Axis Branch asked me to provide a consent to upgrade existing card to Burgundy Magnus through a form 😀 and Get it approved by BM!

If it gets accepted , I might have 2 Burgundy LTF cards :') Or will not have either 😀 not sure

 

[bhandchawla]

I have been getting this error. Any soultuons? I have not been able to transfer points.

Getting the same error, not able to do anything on travel edge.

 

[NeoOnWheels]

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

 

[Rags]

I have got

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.

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

is it Magnus (5:2) or Magnus for burgundy (5:2)?

 

[K.R]

It seems their applications are not integrated yet 😎