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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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Viper1057 said:
Connected with my RM first time today post OGS generation, he asked me to drop a mail to him and he will raise it further with his team. I gave him complete idea that what type of situation I am since in July devaluation it was mentioned that new customer will be eligible and they will tell on 1st Sept. but it got delayed till Sept 27, still I opened the account as fast as I could. I said him that few of people got approved through Branch head exceptional approvals and so on, so lets see where it goes. Overall he sounds knowledgeable and helpful but lets see where it goes since all RM knows how to talk but not many knows how to get things done xD

My only current criteria is 10L AQB and I only have 1 OGS showing 10L MAB currently..
Click to expand...
Then upgrade can't happen. AQB is for quarter, hence you need 3 OGS
 
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My AQB (Aug, Sep & Oct) is 12 point something. I have three OGS generated. The CC says that I should I be eligible but they don't know the reason why I am not.
Checked with RM again. He said he has mailed the product team.
 
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chasni said:
rohitb said:
OGS got generated yesterday (received mail in the night)
Called burgundy helpline number today and requested for an upgraded. Link was shared , consent sought, card generated , request registered and all done. As per rep, will receive in 14 days.
Click to expand...
Click to expand...

rohitb said:
OGS got generated yesterday (received mail in the night)
Called burgundy helpline number today and requested for an upgraded. Link was shared , consent sought, card generated , request registered and all done. As per rep, will receive in 14 days.
Click to expand...
Congratulations. When did you open Burgundy account and on which date you reached TRV of 30 L ( or was it AQB of 10L ?). Was the old Magnus card issued before 1st September?
 
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palvannan said:
Congratulations. When did you open Burgundy account and on which date you reached TRV of 30 L ( or was it AQB of 10L ?). Was the old Magnus card issued before 1st September?
Click to expand...
My magnus was issued in April this year. I went into burgundy relationship around 1st week of August and maintained 10+ since then and bumped to 30+ in last days of September and maintained that since then.
 
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Question for existing Magnus Burgundy Card Holders....

If the AMB/AQB/TRV falls below the recommended limit... RM/Customer Care will inform before charging the annual fees for the card or it will be implemented without any intimation?
 
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Avijeet said:
Question for existing Magnus Burgundy Card Holders....

If the AMB/AQB/TRV falls below the recommended limit... RM/Customer Care will inform before charging the annual fees for the card or it will be implemented without any intimation?
Click to expand...
No one really knows I think. For whatever it's worth, I asked my RM about this. She said that they would inform us about it and would ask us to maintain the TRV/AQB. And if we don't maintain then the card will be downgraded.

But frankly I don't think she knows or has any control over the process. I doubt anyone in Axis would have clear answer to that
 
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Did anyone notice that reward points have been bifurcated to Edge Rewards and Magnus Burgundy rewards. Points from old Magnus have not been converted to Magnus rewards. You can only redeem magnus rewards on travel edge.
 
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sangalaviral said:
Did anyone notice that reward points have been bifurcated to Edge Rewards and Magnus Burgundy rewards. Points from old Magnus have not been converted to Magnus rewards. You can only redeem magnus rewards on travel edge.
Click to expand...
To avoid any unpleasant event in the future ... i transferred all the existing point the day i 5:4 was restored after upgrading to Magnus Burgundy

Axis has the ability and capacity to behave like a disturbed Ex.

So it's better to be safe
 
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You are correct, but this is legally wrong what they have done. In the email sent for the upgrade of card, they had specifically mentioned that old rewards will still be available for redeeming at 5:4
1699336722057.png
 
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sangalaviral said:
That is incorrect! Even if your statement was correct, the TnCs do not say that anywhere. They cannot make changes unilaterally!
Click to expand...
What is said is fact. So that's correct 😁.

I didn't say anything like terms says same thing or different thing and is correct or incorrect. Those are subject to interpretation and whether Gyftr/Grab deals points should be part of 5:4 or not, is upto Axis to clarify that.

All I said is that base points from old magnus are converted to Magnus Burgundy.

BTW, there is a bug right now and u can still transfer all points in 5:4, as long as at least last 300 points are earned from magnus base points. Read below post to understand.

Post in thread 'Rumor with burgundy axis magnus could be LTF (by Sep 2023 it should be official by axis i think you never know though)' https://www.technofino.in/community...think-you-never-know-though.15646/post-414375
 
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