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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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K.R said:
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 😁😁😁
Click to expand...
Ohhh... then there is a pattern.
 
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I have a question. As per the updated Magnus TnC, "Earn 12 eDGE Reward points per Rs.200 on spends up to Rs.1.50 Lakhs and 35 eDGE Reward points per Rs.200 on incremental spends above Rs.1.50 lakhs in a calendar month"

However, when I did a transaction of Rs. 2.25L, I only got 13500 RPs, which means it's calculated as 12RP/Rs200 on the whole amount.
Is that how they calculate? Since this is a single transaction, it won't be considered for cumulative spend over 1.5L?
 
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ayush0010 said:
I have a question. As per the updated Magnus TnC, "Earn 12 eDGE Reward points per Rs.200 on spends up to Rs.1.50 Lakhs and 35 eDGE Reward points per Rs.200 on incremental spends above Rs.1.50 lakhs in a calendar month"

However, when I did a transaction of Rs. 2.25L, I only got 13500 RPs, which means it's calculated as 12RP/Rs200 on the whole amount.
Is that how they calculate? Since this is a single transaction, it won't be considered for cumulative spend over 1.5L?
Click to expand...
The ER's of 23 Per 200 above 1.5 lacs would be credited at a later point of time
 
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I called up the escalation team, they said I am eligible but had to call them back on 15th of Nov. I asked them to send a mail regarding the same and they refused 😀
 
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mastfun said:
I called up the escalation team, they said I am eligible but had to call them back on 15th of Nov. I asked them to send a mail regarding the same and they refused 😀
Click to expand...
There is seperate number for escalation team or you are talking about the Burgundy support itself?
Btw Axis call support doesn't have access to email and email support doesn't have access to call logs 🥲
 
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Its just another 5-6 days.. But that doesnt mean you stop calling them.. Keep them engaged.. 2 Calls every day and 1 email Telling them how unprofessional Axis Bank is 🤣
 
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mastfun said:
I called up the escalation team, they said I am eligible but had to call them back on 15th of Nov. I asked them to send a mail regarding the same and they refused 😀
Click to expand...
I called the regular Burgundy line, after a new digital card verification process

With Agent 1
Magnus for Burgundy?
In a ‘Vo kya hotha hain’ tone

With Agent 2
Me: Do you know what is Magnus for Burgundy?

Agent 2: Magnus credit card hain sir. Burgundy savings account hain.

Hari Om
 
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What it Looks is that there would be a refresh mid November, but Customer care or Premium experience is not able to commit as they are not sure if our customer ID will become eligible. They have commited in the past based on TNC's but as people didnot get upgraded they were bombarded. Also as of now there is no process of upgrade unless the link is enabled. Green Channel etc are just some fancy terms. The RM and BM has no role/power here as well
 
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K.R said:
What it Looks is that there would be a refresh mid November, but Customer care or Premium experience is not able to commit as they are not sure if our customer ID will become eligible. They have commited in the past based on TNC's but as people didnot get upgraded they were bombarded. Also as of now there is no process of upgrade unless the link is enabled. Green Channel etc are just some fancy terms. The RM and BM has no role/power here as well
Click to expand...
I feel the same.
 
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A new twist.. basically on 10th of every month they share a new list. If your name is there you will get an upgrade... You can check on 11th if your name is there or not. This is what they mean by refresh and say 45 days etc
 
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