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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

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
 

Attachments

Last edited:
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readers900 said:
My RM and BM both female and are clueless about the Magnus Burgundy offer 😆. Asking me to contact customer care and customer care asking me to contact RM. Both playing ping pong
Click to expand...
Man, all the best.

You just have 23 days to win the battle.

We are still waging our war since end September.

As of now without much raging.
 
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readers900 said:
My RM and BM both female and are clueless about the Magnus Burgundy offer 😆. Asking me to contact customer care and customer care asking me to contact RM. Both playing ping pong
Click to expand...
Same here, my new burgundy rm is no where near to know how it is,asking me to call and close the card and then apply for the life time one 🤣😩. Customer care asking to contact the rm,silly stuff
 
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mastfun said:
You will see this status in sometime 😀
View attachment 34392
Click to expand...
Since you have applied for both new magnus LTF card , as well as for upgrade of existing old Magnus card , you are likely to see a rejection of the application for Magnus LTF , as it happened to me with a message that they cannot issue two card variants of the same type to one person. Your only hope is to get the old Magnus card upgraded , if your AQB/TRV eligibility criteria was met in October itself ( but for TRV criteria before 15th Oct ) and most likely only if the old Magnus was issued prior to 1st September ( on Visa platform).
 
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palvannan said:
Since you have applied for both new magnus LTF card , as well as for upgrade of existing old Magnus card , you are likely to see a rejection of the application for Magnus LTF , as it happened to me with a message that they cannot issue two card variants of the same type to one person. Your only hope is to get the old Magnus card upgraded , if your AQB/TRV eligibility criteria was met in October itself ( but for TRV criteria before 15th Oct ) and most likely only if the old Magnus was issued prior to 1st September ( on Visa platform).
Click to expand...
Can someone please provide me the number to call for Upgrade again 😀 I will put in one last try!!
 
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I'm sharing my recent experience of successfully upgrading to the LTF M4B card:

  1. Maintain a total relationship value (TRV) of 30 lakhs in a calendar month, or
  2. Keep a monthly average balance of 10 lakhs for three consecutive months, or
  3. Receive a salary credit of over 3 lakhs for at least two consecutive months.
I learned about these criteria from my dedicated relationship manager (RM) and the CEO's office. To ensure my eligibility, I diligently met all three criteria, including achieving the required TRV from the middle of September in both September and October. As a result , I successfully upgraded my card in the first week of November.

My upgraded card was delivered promptly on the very next business day after the completion of the upgrade process.
 
Last edited:
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Y
Rags said:
I'm sharing my recent experience of successfully upgrading to the LTF M4B card:

  1. Maintain a total relationship value (TRV) of 30 lakhs in a calendar month, or
  2. Keep a monthly average balance (MAB) of 10 lakhs for three consecutive months, or
  3. Receive a salary credit of over 3 lakhs for at least two consecutive months.
I learned about these criteria from my dedicated relationship manager (RM) and the CEO's office. To ensure my eligibility, I diligently met all three criteria, including achieving the required TRV from the middle of September in both September and October. As a result , I successfully upgraded my card in the first week of November.

My upgraded card was delivered promptly on the very next business day after the completion of the upgrade process.
Click to expand...
Yes you are mostly right . But for your upgrade case , meeting salary transfer criteria also ( apart from other 2 criteria) would have definitely helped you additionally , as they accord priority to those crediting in money (3L) regularly to the account . I already meet the first two criteria ( since September) , but still waiting for the upgrade and asked to wait till 15th Nov to find if I am included in the next eligible list for upgrade !
 
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I reached 30L TRV on October 12. So I have only the November OGS. Customer Care is saying that I am not eligible. Is that correct? Any hope of getting the upgrade before Nov end? Or do I need to wait for the Dec OGS to be upgraded and settle for a paid upgrade? 🙁
 
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