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

 

[MilesMax]

He might be Citi Executive handling Magnus & Burgundy Support.

I wish my RM was as knowledgeable as him.
My RM confidently said if you are an existing Magnus Holder you cannot upgrade till the Anniversary year and he cannot do anything about it. 🤣

The reason I called the CC was to ask him about the procedure to change my existing RM in the first place 😅

 

[BVCBVC is verified member.]

I wish my RM was as knowledgeable as him.
My RM confidently said if you are an existing Magnus Holder you cannot upgrade till the Anniversary year and he cannot do anything about it. 🤣

The reason I called the CC was to ask him about the procedure to change my existing RM in the first place 😅

My RM is not interested and not knowledgeable to update name in Axis records. So sad to see them, I feel HDFC have better people than these, in my case At least.

 

[K.R]

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 is indirectly saying you are not eligible on 5-7 Nov when the OCT ogs comes . And you wait till 20th Nov and they come up with another excuse 😁

 

[MilesMax]

My RM is not interested and not knowledgeable to update name in Axis records. So sad to see them, I feel HDFC have better people than these, in my case At least.

That's sad. People at the home branch are much better. Though not as knowledgeable but at least they try to call their superiors to find out the procedure and get back.
My HDFC RM has been changed 4 times in the span of 2 years! I don't know what is happening there. Are people quitting HDFC or getting promoted.
I had got a very good HDFC RM 1.5 years ago, she had helped me quite a lot without even pitching any investment plans.
Everyone I got post that are pretty much useless.

 

[MilesMax]

He is indirectly saying you are not eligible on 5-7 Nov when the OCT ogs comes . And you wait till 20th Nov and they come up with another excuse 😁

I was happy that atleast he knew the official TnC, Unlike every other executives including all PNO emails where all they say is you need 30L TRV.
He said you will get an Email for upgrade in the 2nd week of Nov itself. Let's see.

 

[MilesMax]

He is indirectly saying you are not eligible on 5-7 Nov when the OCT ogs comes . And you wait till 20th Nov and they come up with another excuse 😁

The main reason for keeping Magnus was for the Unlimited Access with PP.
Now that ICICI has launched a Metal card with PP that works at both Domestic and International (Infinia like), also Add-on card holders get PP with unlimited access so my interest in Magnus is not as much as before anymore. Already requested for the Invite, they said they'll try for LTF as well if possible.
I have Atlas which gives 4%.

 

[K.R]

I was happy that atleast he knew the official TnC, Unlike every other executives including all PNO emails where all they say is you need 30L TRV.
He said you will get an Email for upgrade in the 2nd week of Nov itself. Let's see.

As per original TNC he is correct but as per revised TNC they have asked 3 months with 10 Lakhs. So fingers crossed. People who maintained 10 Lakhs in Aug and Sep OGS have not got. I guess it was Srihari who maintained but didn't get Let's see where it goes

 

[K.R]

Iam in the same boat as you are ,😁

 

[K.R]

The main reason for keeping Magnus was for the Unlimited Access with PP.
Now that ICICI has launched a Metal card with PP that works at both Domestic and International (Infinia like), also Add-on card holders get PP with unlimited access so my interest in Magnus is not as much as before anymore. Already requested for the Invite, they said they'll try for LTF as well if possible.
I have Atlas which gives 4%.

Which card.. Emerald has PP only for primary

 

[MilesMax]

As per original TNC he is correct but as per revised TNC they have asked 3 months with 10 Lakhs. So fingers crossed. People who maintained 10 Lakhs in Aug and Sep OGS have not got. I guess it was Srihari who maintained but didn't get Let's see where it goes

The screenshot is from the new TnC itself which I took today from website. Or maybe they changed the TnC yet again the 3rd time?
Check Scenario 2.3. Q3

https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/magnus-credit-card-for-burgundy-faq.pdf

 

[MilesMax]

Which card.. Emerald has PP only for primary

Emeralde Private Metal.

 

[K.R]

The screenshot is from the new TnC itself which I took today from website. Or maybe they changed the TnC yet again the 3rd time?
Check Scenario 2.3. Q3

https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/magnus-credit-card-for-burgundy-faq.pdf

I have the same understanding as you. But with Axis you never know. I accidentally got some Money deposited in Burgundy on 9th October.. so i have not removed it so that the TRV option is also open. Is there anyone who got Upgrade with 2 OGS of 10 Lakhs in this group

 

[K.R]

Emeralde Private Metal.

Has it been Launched. When I last discussed with ICICI it's just on paper and they didnot know if it will be launched as well

 

[Rishabh]

I have the same understanding as you. But with Axis you never know. I accidentally got some Money deposited in Burgundy on 9th October.. so i have not removed it so that the TRV option is also open. Is there anyone who got Upgrade with 2 OGas of 10 Lakhs in this group

I have applied with 2 OGS in first week of Oct. Still waiting for application to be approved. Application status showing on hold since last 2 weeks but finally saw Credit enquiry in CIBIL from Axis made on 23rd Oct so expecting some update in a week from now.

 

[MilesMax]

Has it been Launched. When I last discussed with ICICI it's just on paper and they didnot know if it will be launched as well

A very few people have already applied. Some screenshots on Twitter.
Some have approached the RM for an invite which would come in the 2nd week of November.
The card is definitely launched and live on the website.

Minimum 25L TRV or 25L net salary criteria or existing Emeralde customers.

 

[MilesMax]

I have applied with 2 OGS in first week of Oct. Still waiting for application to be approved. Application status showing on hold since last 2 weeks but finally saw Credit enquiry in CIBIL from Axis made on 23rd Oct so expecting some update in a week from now.

How old is your Burgundy account?

 

[Rishabh]

How old is your Burgundy account?

2 years old with True Burgundy relationship from last 4 months based on AQB criteria.

 

[K.R]

How old is your Burgundy account?

Opened on Aug 28th

 

[K.R]

A very few people have already applied. Some screenshots on Twitter.
Some have approached the RM for an invite which would come in the 2nd week of November.
The card is definitely launched and live on the website.

Minimum 25L TRV or 25L net salary criteria or existing Emeralde customers.

Checked on website. Other than PP it's a useless card. Atlas or Magnus for Burgandy is better. If rewards points is not a criteria it's a good card

 

[K.R]

2 years old with True Burgundy relationship from last 4 months based on AQB criteria.

Sir you are eligible even as per New CASA rules they have added 😁