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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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Last edited:
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Prav said:
What are the 3?
Click to expand...
First open a Burgundy savings account with Axis Bank.
Then fulfill one of these three criteria--
1) 30 lacs in savings or fixed deposit, with 45 days cooling off period
2) 10 lakhs average balance in savings for 90 days
3) salary account over 3 lakhs every month, 45 days cooling off period
 
Last edited:
Upvote 0 Downvote
drsel said:
First open a Burgundy savings account with Axis Bank.
Then fulfill one of these three criteria--
1) 30 lacs fixed deposit, with 45 days cooling off period
2) 10 lakhs average balance in savings for 90 days
3) salary account over 3 lakhs every month, 45 days cooling off period
Click to expand...
Re point 1, it can also be 30 lacs savings account balance for 45 days. This should also fix the AQB in a month allowing you to withdraw the balance after getting the card and still be eligible using AQB criteria.
 
Upvote 0 Downvote
drsel said:
First open a Burgundy savings account with Axis Bank.
Then fulfill one of these three criteria--
1) 30 lacs fixed deposit, with 45 days cooling off period
2) 10 lakhs average balance in savings for 90 days
3) salary account over 3 lakhs every month, 45 days cooling off period
Click to expand...
Buddy please understand my concern
Even after fulfilling one of three eligibility criteria
We have to follow the normal application process(itr/salaryslip etc.) and in that case can we apply through c2c
 
Upvote 0 Downvote
drsel said:
First open a Burgundy savings account with Axis Bank.
Then fulfill one of these three criteria--
1) 30 lacs fixed deposit, with 45 days cooling off period
2) 10 lakhs average balance in savings for 90 days
3) salary account over 3 lakhs every month, 45 days cooling off period
Click to expand...
This is not correct. It means we have given up for the Axis Fraud. We should challenge based on the original version of TNC. I have escalated and will not give up till they accept the fraud they have done.
 
Upvote 0 Downvote
Prav said:
Buddy please understand my concern
Even after fulfilling one of three eligibility criteria
We have to follow the normal application process(itr/salaryslip etc.) and in that case can we apply through c2c
Click to expand...
Yes Sir.. You dodn't need Burgundy for Magnus. The Devalued Magnus you can get with C2C and you can also get new Magnus for Burgundy on C2C basis provided you have met the Burgundy criteria they have mentioned
 
Upvote 0 Downvote
chasni said:
Re point 1, it can also be 30 lacs savings account balance for 45 days. This should also fix the AQB in a month allowing you to withdraw the balance after getting the card and still be eligible using AQB criteria.
Click to expand...
Yes definitely correct.
After 45 days when you get the card you can withdraw 20 lakhs
 
Upvote 0 Downvote
Prav said:
Buddy please understand my concern
Even after fulfilling one of three eligibility criteria
We have to follow the normal application process(itr/salaryslip etc.) and in that case can we apply through c2c
Click to expand...
You have to check with the Burgundy relationship manager of your Axis home branch
 
Upvote 0 Downvote
K.R said:
Yes Sir.. You dodn't need Burgundy for Magnus. The Devalued Magnus you can get with C2C and you can also get new Magnus for Burgundy on C2C basis provided you have met the Burgundy criteria they have mentioned
Click to expand...
Rm is saying that m4b fresh can only be applied by itr/salary slip
 
Upvote 0 Downvote
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