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

---

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

 

[Tirajat]

Share screenshot. No changes for me.

My balance yesterday was 1.12L and today it’s 1.19 L with addition of MB points

 

[Harry1]

My balance yesterday was 1.12L and today it’s 1.19 L with addition of MB points

So is it like 60K out of remaining 120k was from cards other than magnus/magnus burgundy?

My guess is they are segregating points based on that. Edge point shows total and magnus burgundy is a subset of edge points under magnus. So when u redeem, balance from both edge point and magnus burgundy will reduce.

 

[Tirajat]

So is it like 60K out of remaining 120k was from cards other than magnus/magnus burgundy?

My guess is they are segregating points based on that. Edge point shows total and magnus burgundy is a subset of edge points under magnus. So when u redeem, balance from both edge point and magnus burgundy will reduce.

I think your logic makes perfect sense. But I only hold Vistara infinite apart from Magnus, and no way debit card transactions can earn 60k points in my case.

 

[Harry1]

I think your logic makes perfect sense. But I only hold Vistara infinite apart from Magnus, and no way debit card transactions can earn 60k points in my case.

Then it's technical issue mostly.

They show many of grab deals/Gyftr/milestone points under savings account category rather than credit card. I guess they have used that category to isolate points and then we will have to fight with customer care 😅 to get it moved completely.

 

[raunak]

maintaining 10L+ since july 26th i.e. since account oppened.
both aug & sep OGS shows 10L+ avg balance
still not eligable.
unale to understand., how to get eligable??
RM alag duniya mai h..He does not know anything.

 

[chasni]

maintaining 10L+ since july 26th i.e. since account oppened.
both aug & sep OGS shows 10L+ avg balance
still not eligable.
unale to understand., how to get eligable??
RM alag duniya mai h..He does not know anything.

I think you should be eligible after Oct OGS.

As far as I understand, people who have received offer till now have maintained 10+ for Jun, Jul and Aug months.

 

[jonamdhar]

maintaining 10L+ since july 26th i.e. since account oppened.
both aug & sep OGS shows 10L+ avg balance
still not eligable.
unale to understand., how to get eligable??
RM alag duniya mai h..He does not know anything.

You should be eligible after the Oct OGS. The new FAQ mentioned 3months of OGS for elibility with AQB.

 

[yogbansi]

Then it's technical issue mostly.

They show many of grab deals/Gyftr/milestone points under savings account category rather than credit card. I guess they have used that category to isolate points and then we will have to fight with customer care 😅 to get it moved completely.

I spoke to customer care regarding this. EdgeRewards is superset and MagnusBurgandy is subset of points earned on magnus and eligible for 5:4. They have implemented this scheme because customers may still want to redeem even magnus burgnacy earned points on other categories such as Amazon Voucher etc. and Magnus Burgandy points are EdgeRewards points also.

And, what you guessed seems to be true. Gyftr, milestone etc. are classified as saving account points and hence, they have not been shown under MagnusBurgandy. Start raising support calls to consider these points also as MagnusBurgandy points.

 

[Harry1]

I spoke to customer care regarding this. EdgeRewards is superset and MagnusBurgandy is subset of points earned on magnus and eligible for 5:4. They have implemented this scheme because customers may still want to redeem even magnus burgnacy earned points on other categories such as Amazon Voucher etc. and Magnus Burgandy points are EdgeRewards points also.

And, what you guessed seems to be true. Gyftr, milestone etc. are classified as saving account points and hence, they have not been shown under MagnusBurgandy. Start raising support calls to consider these points also as MagnusBurgandy points.

Fortunately for me, segregation is not yet done. So, I may have a few more weeks to worry about this.

 

[Avijeet]

I spoke to customer care regarding this. EdgeRewards is superset and MagnusBurgandy is subset of points earned on magnus and eligible for 5:4. They have implemented this scheme because customers may still want to redeem even magnus burgnacy earned points on other categories such as Amazon Voucher etc. and Magnus Burgandy points are EdgeRewards points also.

And, what you guessed seems to be true. Gyftr, milestone etc. are classified as saving account points and hence, they have not been shown under MagnusBurgandy. Start raising support calls to consider these points also as MagnusBurgandy points.

So with MagnusBurgundy & Reserve ..... Reserve points wont get the 5:4 benefit?

 

[CVR]

I spoke to customer care regarding this. EdgeRewards is superset and MagnusBurgandy is subset of points earned on magnus and eligible for 5:4. They have implemented this scheme because customers may still want to redeem even magnus burgnacy earned points on other categories such as Amazon Voucher etc. and Magnus Burgandy points are EdgeRewards points also.

And, what you guessed seems to be true. Gyftr, milestone etc. are classified as saving account points and hence, they have not been shown under MagnusBurgandy. Start raising support calls to consider these points also as MagnusBurgandy points.

And how does one transfer ER points which is not MagnusBurgundy points as there is no option to transfer them currently.

 

[darpanzope]

Anyone able to transfer the points to Accor Plus ? It is not showing in the partners section

 

[pankajsingh77]

Anyone able to transfer the points to Accor Plus ? It is not showing in the partners section

Same for me. Accor is not showing in the list since yesterday.

 

[rishabk27775]

Same for me. Accor is not showing in the list since yesterday.

Which card you have? It is showing for me I have only magnus

 

[pankajsingh77]

Which card you have? It is showing for me I have only magnus

I have only Magnus for Burgundy.

 

[Harry1]

I have only Magnus for Burgundy.

For people, for whom, magnus burgundy points are segregated from edge points, this issue is coming. Ask customer care to resolve.

 

[vikramsrit]

I am magnus upgraded to Magnus for Burgundy. I see all my points under the same bucket (old + new). And all of them have a transfer ratio of 5:4. And I see Accor also as a transfer partner. Just transferred some points there.

 

[K.R]

I am magnus upgraded to Magnus for Burgundy. I see all my points under the same bucket (old + new). And all of them have a transfer ratio of 5:4. And I see Accor also as a transfer partner. Just transferred some points there.

View attachment 33279

You are True Burgundy 😁

 

[MilesMax]

Surprisingly the customer care I called today was highly knowledgeable about this Magnus burgundy TnC.
He said as per the TnC since your account is new you need to have 10L in the Sept OGS, which you already have so 45 days post first OGS you are eligible. No TRV or 3 month vintage required.

Finally Axis is training the CC executives on the TnCs correctly!

 

[BVCBVC is verified member.]

Surprisingly the customer care I called today was highly knowledgeable about this Magnus burgundy TnC.
He said as per the TnC since your account is new you need to have 10L in the Sept OGS, which you already have so 45 days post first OGS you are eligible. No TRV or 3 month vintage required.

Finally Axis is training the CC executives on the TnCs correctly!

View attachment 33289

He might be Citi Executive handling Magnus & Burgundy Support.