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

 

[jonamdhar]

Finally upgraded yo Burgundy Salary account from Priority Salary.

Do we get the Burgundy welcome kit with the Debit card automatically? Or we will have to ask for it?

 

[K.R]

Finally upgraded yo Burgundy Salary account from Priority Salary.

Do we get the Burgundy welcome kit with the Debit card automatically? Or we will have to ask for it?

You will get in 3-4 days automatically

 

[K.R]

where is the burgundy resolution promise now
ki 6 hours mein we weill solve your prblem else we will give you burgundy points or something

I got a call from Premium Service today saying Sir you have raised a complaint that you are not able to do Online transaction. This issue was raised in first week of Sep and was resolved in 1-2 days but I got a call today to understand the issue ,,,😁

 

[SM24]

where is the burgundy resolution promise now
ki 6 hours mein we weill solve your prblem else we will give you burgundy points or something

The assurance is not to resolve or 6 hours is not earth hours...

 

[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.

RM: Burgundy Green Channel asked you to call up customer care to check eligibility.

Me: I already called them for the nth time last week.

RM: Sir, it takes time for your account situation to get refreshed at CC end.
It would have got refreshed by now. Please call them now sir.

Me: What if they say i'm still not eligible?

RM: Then we will do from our end sir.

Me: Ok.

I call up customer care.
They tell me, I'm not a true burgundy, so not eligible.


Me: Mr. RM, Burgundy care tells me I'm not eligible.

RM: Sir, I will get it checked and ensure you get M4B.

To Be Continued...

 

[miles_guy]

How long is the Burgundy free Magnus card valid? Can I get it in January?

 

[K.R]

RM: Burgundy asked you to call up customer care to check eligibility.

Me: I already called them for the nth time last week.

RM: Sir, it takes time for your account situation to get refreshed at CC end.
It would have got refreshed by now. Please call them now sir.

Me: What if they say i'm still not eligible?

RM: Then we will do from our end sir.

Me: Ok.

I call up customer care.
They tell me, I'm not a true burgundy, so not eligible.


Me: Mr. RM, Burgundy care tells me I'm not eligible.

RM: Sir, I will get it checked and ensure you get M4B.

To Be Continued...

It basically means their applications are not integrated. All these 1 OGS 2 OGS 30 Lacs TRV etc is just excuses as the Customer Care guys are powerless. Even the Premium Service guys don't have access to our statements. They ask us to share 😂. I doubt if the PNO has acces ..

 

[K.R]

Just to add effective

How long is the Burgundy free Magnus card valid? Can I get it in January?

30th Nov 2023

 

[mastfun]

Updates as of today:

I can see the application stats online:

 

[Rags]

where is the burgundy resolution promise now
ki 6 hours mein we weill solve your prblem else we will give you burgundy points or something

Wow, valid point

 

[Harry1]

where is the burgundy resolution promise now
ki 6 hours mein we weill solve your prblem else we will give you burgundy points or something

The items covered under this are only automated services available within app and gets complete within minutes.

 

[Quantum]

Hello Folks,
Has anyone who recently opened (or upgraded to) an Axis Burgundy account, were they able to get/negotiate any relaxation in 10L AQB or 30L TRV?
Especially the 10L AQB?
That seems to be the on-going eligibility criteria for "Magnus for Burgundy" to remain LTF.

 

[Aryan Malhotra]

Hello Folks,
Has anyone who recently opened (or upgraded to) an Axis Burgundy account, were they able to get/negotiate any relaxation in 10L AQB or 30L TRV?
Especially the 10L AQB?
That seems to be the on-going eligibility criteria for "Magnus for Burgundy" to remain LTF.

Axis is strict in terms of maintaining TRV, My friend's account got downgraded to Priority as he was maintaining around 1 lakh only

 

[Quantum]

Axis is strict in terms of maintaining TRV, My friend's account got downgraded to Priority as he was maintaining around 1 lakh only

Yeah, even I got that impression of Axis.

 

[Vickymaster1010]

Axis is strict in terms of maintaining TRV, My friend's account got downgraded to Priority as he was maintaining around 1 lakh only

can ppf be cconsidered for TRV? can i transfer my ppf to them?

 

[Quantum]

can ppf be cconsidered for TRV? can i transfer my ppf to them?

PPF for TRV: Yes, BUT investment through Axis Bank to be considered.

 

[shann9999]

can ppf be cconsidered for TRV? can i transfer my ppf to them?

as of i know yes they are.
ref:

 

[Vickymaster1010]

PPF for TRV: Yes, BUT investment through Axis Bank to be considered.

but i already have pppf can i transfer ppf account and then get burgandy status?

 

[shann9999]

but i already have pppf can i transfer ppf account and then get burgandy status?

Check with BM before transferring, as they have to upgrade/open your account to Burgundy

 

[Quantum]

but i already have pppf can i transfer ppf account and then get burgandy status?

I don't think so.
Check with Axis RM or customer care.
Tell the CC that you want to transfer your PPF account to Axis and will that affect TRV.
Don't mention that you are doing it for Burgundy/Magnus.
Just ask in terms of TRV and days.