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

 

[Rags]

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.

Magnus gives 14% more after 1.5lacs

 

[ishaangarg]

Magnus gives 14% more after 1.5lacs

ya if someone has >1.5L/m spends then they can also reach 25L fee waiver so magnus makes sense at that spend level, but not for say 1L/mo spend (unless its LTF)

 

[rohitb]

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.

Card received. It's world mastercard variant and not visa. Hopefully I don't miss much on that front.

 

[MilesMax]

They replied saying that I am not eligible and to check after 15th November.
Not sure if that means that I would be eligible after November 15 or they are saying that to everyone. 🫤

Lol got the exact same reply on call.

Actually customer care had told me to call post 2nd week of November long back in October itself. I think their systems work that way for people who have AQB/TRV.

I have told my RM to send upgrade request on my behalf.

 

[sumit_yadav]

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. 🙁

We both are on the similar boat. I opened the account on Oct 11 with the required TRV. Premium experience is replying the standard reply to check in mid of Nov. Not sure what would change in a week when we are already maintaining the required TRV which is their eligibility criteria. Frustrating!

 

[Rohit1991]

We both are on the similar boat. I opened the account on Oct 11 with the required TRV. Premium experience is replying the standard reply to check in mid of Nov. Not sure what would change in a week when we are already maintaining the required TRV which is their eligibility criteria. Frustrating!

My RM is super unhelpful as well.
Tbh - I am super pessimistic about getting it done before Nov 30. Do let me know if you have better luck than me. 🙂

 

[MilesMax]

Got a call from premium experience again. He said the latest Eligible list will be available by 14th of November. Whoever met TRV / AQB criteria would come in that list.

 

[Rags]

ya if someone has >1.5L/m spends then they can also reach 25L fee waiver so magnus makes sense at that spend level, but not for say 1L/mo spend (unless its LTF)

Yes its a HNI card

 

[chasni]

Got a call from premium experience again. He said the latest Eligible list will be available by 14th of November. Whoever met TRV / AQB criteria would come in that list.

I think the basement guy who credits the milestone has been tasked with creating the list manually. He is working on the Excel and will have a list ready by 14th. LOL.

 

[shrekster]

The BM sent a guy to upgrade the card since eligibility criteria is met but customer care is not able to upgrade. But the CC guy on arriving said you cannot upgrade an existing Magnus (he was unaware about the existing card), it has to be done through customer care. Now apparently the BM is going to mail someone at the backend to process the upgrade. Hopefully this will be resolved soon!

 

[Rags]

The BM sent a guy to upgrade the card since eligibility criteria is met but customer care is not able to upgrade. But the CC guy on arriving said you cannot upgrade an existing Magnus (he was unaware about the existing card), it has to be done through customer care. Now apparently the BM is going to mail someone at the backend to process the upgrade. Hopefully this will be resolved soon!

It won't happen thru backend mails by BM or RM, sorry to say. My experience

 

[K.R]

It won't happen thru backend mails by BM or RM, sorry to say. My experience

In case of Axis Bank. BM, RM, RSM are of no use they can only share the OGS .. Based on my journey so far

 

[K.R]

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? 🙁

What was your October Average TRV in OGS..If you had 30 lacs as average and not balance then you are technically eligible

 

[K.R]

Did anyone got mid month upgrades for magnus to magnus for Burgundy. If no then this new 14th November thing is a big Goli they are giving 🙂

I just had call with escalation desk. The guy read out the comments against my request which was shared by my RM and by me. Customer is is eligible as on 30th September. Customer has to wait till mid of November for the Mid month refresh. I have asked the Guy to mark them to send me an email what you have read.

 

[chasni]

Did anyone got mid month upgrades for magnus to magnus for Burgundy. If no then this new 14th November thing is a big Goli they are giving 🙂

I just had call with escalation desk. The guy read out the comments against my request which was shared by my RM and by me. Customer is is eligible as on 30th September. Customer has to wait till mid of November for the Mid month refresh. I have asked the Guy to mark them to send me an email what you have read.

I feel there could be some truth to it. Because they ask you wait for 45 days. So, someone who has started maintaining the balance from 1st of the month, they would need to wait for 45 days (max time) if Axis refreshes the eligibility every middle of month.

 

[K.R]

Did you write an email to pno or MD desk by attaching all 3 OGS?

PNO is an automatic reply BOT. It's non existant. I have clearly stated that I'm my Complain to RBI. RBI gave me 30 days to wait if Axis doesn't resolve I can get back to them. I have sent a reminder to axis CEO as a courtesy 😊

 

[MilesMax]

PNO is an automatic reply BOT. It's non existant. I have clearly stated that I'm my Complain to RBI. RBI gave me 30 days to wait if Axis doesn't resolve I can get back to them. I have sent a reminder to axis CEO as a courtesy 😊

Did your BM apply the upgrade for you?

For me even RM said they asked her to wait till Nov 2nd week and then check again.

 

[Rohit1991]

What was your October Average TRV in OGS..If you had 30 lacs as average and not balance then you are technically eligible

October Deposits in OGS is 31L.
RM and Customer support says not eligible and have no clue when I would be eligible. 🫤

 

[K.R]

I feel there could be some truth to it. Because they ask you wait for 45 days. So, someone who has started maintaining the balance from 1st of the month, they would need to wait for 45 days (max time) if Axis refreshes the eligibility every middle of month.

I'm October I felt the same truth when they told wait till mid of October. In Mid of October they told wait for Nov OGS. Now they are saying mid of November. They are buying 1 week so that they get less calls. Mid of November they will Say wait another week and they it's over 😁😁😁

 

[K.R]

October Deposits in OGS is 31L.
RM and Customer support says not eligible and have no clue when I would be eligible. 🫤

There is a difference in Deposits and average. What is the Monthly average showing for October in OGS..that's your October TRV