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

 

[deepscion]

Hi, I am Axis Reserve Credit card holder and my card came up for renewal during this month's statement. I contacted the customer care and asked them to cancel the card as it is not much worth after devaluation of points and the remaining features are more or less available with Magnus. Bank rep's have said that, once after the renewal fee is charged in statement & using the card after the charge date, they can't reverse the renewal fees as per the policy. How do I get the card cancelled without paying the renewal fee?

 

[H2O]

Wait till the 30th of Nov, also give a friendly reminder to your branch around 15th that you will close your account if they don't process the upgrade.
Banks wouldn't want to lose burgundy customers in general.
If they still don't do it, just close the account, put that 10L + 1L in HDFC FD, they'll be happy to give you Infinia.
I checked with my HDFC BM, they are still giving Infinia on FD.

Not true I think, I had 20L FDs with HDFC, and they didn't give me an upgrade to DCB/Infinia from Regalia, so moved to Axis.

 

[Viper1057]

Not true I think, I had 20L FDs with HDFC, and they didn't give me an upgrade to DCB/Infinia from Regalia, so moved to Axis.

Your existing FD doesn't matter even if its 30L let alone 10~20L.The card is specifically issued against the FD which you create while processing application for Infinia, minimum 10~11L FD is required. You can't even remove that FD before closing the Infinia as well

 

[Viper1057]

Hi, I am Axis Reserve Credit card holder and my card came up for renewal during this month's statement. I contacted the customer care and asked them to cancel the card as it is not much worth after devaluation of points and the remaining features are more or less available with Magnus. Bank rep's have said that, once after the renewal fee is charged in statement & using the card after the charge date, they can't reverse the renewal fees as per the policy. How do I get the card cancelled without paying the renewal fee?

Yes its true, exactly same happened with me while cancelling axis flipkart card in July, everybody declined to close the card so I pursued pno and somehow got it reversed as one-time gesture... Else everyone including customer care kept on saying that once fees is charged if you do even 1inr trx, then it can't be reversed.

 

[H2O]

Your existing FD doesn't matter even if its 30L let alone 10~20L.The card is specifically issued against the FD which you create while processing application for Infinia, minimum 10~11L FD is required. You can't even remove that FD before closing the Infinia as well

Ah, that makes sense. But they should convey this information to the end users. Do we have to pay annual charges after getting it on base of FD? 👹👹

 

[palvannan]

I believe it's time to bid bye-bye to Axis 🙁 No updates and RM trying to sell MaxLife ULIP and other products. CC application vanished from website tracker 🙂 No updates on my existing card upgrade as well.

Did you put in an application through RM for issue of new Magnus card for Burgundy LTF , as well as request for upgrade of old Magnus credit card that was issued before 1st Sep ( or was it new magnus issued after 1st September) to new Magnus Burgundy card? For me also the application tracking says no information found and premium service says - wait for 45 days till the first week of December to know the next eligible list !

 

[MilesMax]

Not true I think, I had 20L FDs with HDFC, and they didn't give me an upgrade to DCB/Infinia from Regalia, so moved to Axis.

Probably depends on the branch. My branch is ready to give me DCB Metal paid without any FD. Just with ITR criteria.
I barely keep 10-20k in the savings account.

If you have 20L FD then you should definitely talk with the BM. If one branch is not ready then some other branch will be.

 

[Walter White]

303 page pahuch gaya ye thread 🤣

 

[K.R]

Probably depends on the branch. My branch is ready to give me DCB Metal paid without any FD. Just with ITR criteria.
I barely keep 10-20k in the savings account.

If you have 20L FD then you should definitely talk with the BM. If one branch is not ready then some other branch will be.

Can we have 2 Cards.. Infinia plus DCB

 

[K.R]

Did you put in an application through RM for issue of new Magnus card for Burgundy LTF , as well as request for upgrade of old Magnus credit card that was issued before 1st Sep ( or was it new magnus issued after 1st September) to new Magnus Burgundy card? For me also the application tracking says no information found and premium service says - wait for 45 days till the first week of December to know the next eligible list !

30th Nov is last date for you to accept TNC in the link they will share. Are you TRV or AQB if AQB how Many OGS with 10 Lacs AQB

 

[rogerthat]

303 page pahuch gaya ye thread 🤣

There's a nice German road movie named 303.

 

[invisiblespace]

Offtopic
What is additional card ?
Applied fkaxis card no prior relationship with axis

 

[MilesMax]

Can we have 2 Cards.. Infinia plus DCB

AFAIK yes. Not sure if it's for everyone or only selected customers.

 

[K.R]

AFAIK yes. Not sure if it's for everyone or only selected customers.

When I try It says you laready have the best card 🙂

 

[MilesMax]

When I try It says you laready have the best card 🙂

Try applying offline maybe?
But who do you want to pay for DCB Metal when you have Infinia?

 

[Avijeet]

Magnus to Magnus Burgundy upgraded today over call ...
I also hold RESERVE...

What is the proposition of AXIS RESERVE now? Where does it fit in?
If RESERVE earns 5:2 for Burgundy Customers as well ...

Any update on this?

 

[K.R]

Try applying offline maybe?
But who do you want to pay for DCB Metal when you have Infinia?

I was closing all irrelevant cards and planning to keep only 3-4 best cards. DCB is still among the best 3 cards in India especially for Lounges.. Better than ICICI Emerald Metal.. So its basically Infinia/DCB/ Magnus for Burgundy must have cards in ones portfolio if you are into Airmiles and Travels. TO some extent Atlas as well

 

[MilesMax]

I was closing all irrelevant cards and planning to keep only 3-4 best cards. DCB is still among the best 3 cards in India especially for Lounges..

There is no renewal benefit after paying fee. You'll be spending 10k + GST just for lounge access.
If you are using smartbuy multipliers because you are exhausting Infinia limits then its useful to keep.

 

[K.R]

There is no renewal benefit after paying fee. You'll be spending 10k + GST just for lounge access.
If you are using smartbuy multipliers because you are exhausting Infinia limits then its useful to keep.

Infinia is almost free ( only GST needs to be payed) Spending 5 lakhs on DCB makes it free as well

 

[K.R]

Can People who received magnus for Burgundy please post on what criteria they got..if we can have a consolidated view, we can get an idea if the wait for next OGS is really worth it 🙂