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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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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...
Enjoy the card.
But MAB for 3 months is not same as CASA AQB which is mentioned in the TnC document.
 
Upvote 0 Downvote
Rohit1991 said:
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? 🙁
Click to expand...
If you have at least two months OGS ( like Sep and Oct) , you are technically eligible to apply for upgrade on 27th November based on TRV criteria , by sending a mail to premium experience ( attaching two previous months OGS ) as well as try and push the upgrade case through your RM . I think it is enough if the application for upgrade is entered into their system before Nov 30th to be considered for LTF version of the card. Whether you will get LTF or paid version , is a million dollar question.
 
Upvote 0 Downvote
palvannan said:
If you have at least two months OGS ( like Sep and Oct) , you are technically eligible to apply for upgrade on 27th November based on TRV criteria , by sending a mail to premium experience ( attaching two previous months OGS ) as well as try and push the upgrade case through your RM . I think it is enough if the application for upgrade is entered into their system before Nov 30th to be considered for LTF version of the card. Whether you will get LTF or paid version , is a million dollar question.
Click to expand...
Is 2 OGS required for 30L TRV criteria as well? Or is it one OGS?
 
Upvote 0 Downvote
Rohit1991 said:
Is 2 OGS required for 30L TRV criteria as well? Or is it one OGS?
Click to expand...
You can try your luck with only one OGS , if account was opened only in October. If it is also salary transfer account, it will definitely help the upgrade case. You can send the mail a few days before the eligibility date , explaining how you have met the TRV eligibility criteria ( including 45 days waiting period) for upgrade and ask for confirmation of registering your upgrade request. And keep your fingers crossed after that 😂
 
Upvote 0 Downvote
Burgundy channel tells my RM to ask customer to once check with premium support regarding upgrade eligibility.
Lol.

This is after my RM tells me, don’t bother to call premium support anymore, since you are eligible via CASA AQB with October OGS and have the FD too.
(Eligibility via FD should technically be triggered after November 15th).

Premium support tells me I’m not a True Burgundy.
Lulz.

Back to blasting RM.

Such bunk, this bank.
 
Apply For LTF HDFC Swiggy Credit Card
Upvote 0 Downvote
srihari1977 said:
Burgundy channel tells my RM to ask customer to once check with premium support regarding upgrade eligibility.
Lol.

This is after my RM tells me, don’t bother to call premium support anymore, since you are eligible via CASA AQB with October OGS and have the FD too.
(Eligibility via FD should technically be triggered after November 15th).

Premium support tells me I’m not a True Burgundy.
Lulz.

Back to blasting RM.

Such bunk, this bank.
Click to expand...
When you say October OGS, do you mean OGS generated in November? One OGS works?
 
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Rohit1991 said:
When you say October OGS, do you mean OGS generated in November? One OGS works?
Click to expand...
Yes.
October OGS generated in November.

Latest OGS only is what they asking for is my guess.

However average balance over last 3 months should be atleast 10L if going the CASA AQB route for upgrade.

Says so in Page 4 of the M4B pdf.
 
Upvote 0 Downvote
srihari1977 said:
Yes.
October OGS generated in November.

Latest OGS only is what they asking for is my guess.

However average balance over last 3 months should be atleast 10L if going the CASA AQB route for upgrade.

Says so in Page 4 of the M4B pdf.
Click to expand...
My avg TRV for October is met and also average balance for last 3 months is also met but still they say I am not eligible.
 
Upvote 0 Downvote
srihari1977 said:
Yes.
October OGS generated in November.

Latest OGS only is what they asking for is my guess.

However average balance over last 3 months should be atleast 10L if going the CASA AQB route for upgrade.

Says so in Page 4 of the M4B pdf.
Click to expand...
I have the latest October OGS showing 30L TRV. Earlier OGS don't satisfy.
I reached the 30L TRV on October 12. So I need to wait 45 days from October 12 or from October 1 or from November 1?
This is very confusing. 🙁
 
Upvote 0 Downvote
Rohit1991 said:
I have the latest October OGS showing 30L TRV. Earlier OGS don't satisfy.
I reached the 30L TRV on October 12. So I need to wait 45 days from October 12 or from October 1 or from November 1?
This is very confusing. 🙁
Click to expand...
November 27th is my deduction.
45 days from when you started maintaining 30L TRV.
Now, whether October OGS is good enough or you require November OGS is anybody's guess.

I started maintaining 30L TRV (FD) from September 30th.
Technically I'm eligible from November 15th.

Does October OGS suffice in my 30L TRV case.

GoK.

God only Knows.
 
Upvote 0 Downvote
Try for Infinia instead. You get fee of 12.5k back in pts every yr, for magnus we get voucher worth 12.5k fee only for 1st year. So 12.5k after upgrade/renewal is a waste.
Also, annual fee waiver on infinia is 10L, its 25L on magnus.

Reward rate is same: magnus will give u 15k more on 10L spends (1.5% more than infinia on base spends), but that would be for 12.5k fee (plus taxes = 15k) upfront.
 
Upvote 0 Downvote
Rohit1991 said:
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? 🙁
Click to expand...
Email your OGS to premium experience and ask for the upgrade. See what they would reply.
 
Upvote 0 Downvote
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