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

---

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

 

[palvannan]

G

Got m4b card with in30 days of account opening
30L average balance in savings in oct
Without any income proof/ c2c /itr
Existing ace card limit was 18k😂

Great . Was it an upgrade or new LTF card ? Any strategy or tricks used 😂

 

[palvannan]

Anyone getting Credit limit enhancement in the Cards - offer section ? I learnt several are getting with double or triple the existing limits as festive offer .

 

[MilesMax]

Got m4b card with in30 days of account opening
30L average balance in savings in oct
Without any income proof/ c2c /itr
Existing ace card limit was 18k😂

Congratulations! That's the fastest based on TRV.
New card or Upgrade?

 

[K.R]

Spoke to my RM, he has sent my OGS to backend team !! Fingers crossed!!

Sirji weather you send or RM sends its the same thing. Keep escalating on a daily basis

 

[K.R]

@K.R. can you please send me the complaint template you raised to RBI

There is no template Sir.. Just your grievance. Also RBI intervenes only after 30 days of your formal complaint

 

[K.R]

Got m4b card with in30 days of account opening
30L average balance in savings in oct
Without any income proof/ c2c /itr
Existing ace card limit was 18k😂

Congrats !!! This is also a clear indication that there is a serios flaw in the coding of Axis Bank Magnus Card for Burgundy criteria. It is not insync with TNC. We are unnecessarily beating our heads on interpretation of TNC's 🤣

 

[jonamdhar]

Congrats !!! This is also a clear indication that there is a serios flaw in the coding of Axis Bank Magnus Card for Burgundy criteria. It is not insync with TNC. We are unnecessarily beating our heads on interpretation of TNC's 🤣

But he does qualify the TRV requirements as per the TNC, right?

 

[K.R]

But he does qualify the TRV requirements as per the TNC, right?

There are many including myself, Srihari etc who qualify as per TRV but have not got 😀😀😀

 

[live_and_let_live]

There are many including myself Srihari etc who qualify as per TRV but have not got 😀😀😀

but this seems like a new card and not upgrade ?

 

[K.R]

but this seems like a new card and not upgrade ?

How does it matter new or upgrade. Infact Upgrade should be given a preference as they were the ones who got impacted due to Deval..isnt it. Also there are many who applied for a new card and it went on Hold (Not sure of TRV here). Some with TRV of 30 lacs for just few days got upgraded earlier.

FYI.. This is nothing against people who got upgrade, so please do not get offended... Congrats to everyone👍🙂. Iam just discussing the flaws in the coding of the product.

 

[K.R]

Congratulations! That's the fastest based on TRV.
New card or Upgrade?

There was one in this group who got with TRV of 3 days 😎

 

[mastfun]

There was one in this group who got with TRV of 3 days 😎

Are u maintaining 30L?

 

[live_and_let_live]

How does it matter new or upgrade.

you said this. completely different scenarios . flaw in one scenario (upgrade) . no issues with new cards.

Congrats !!! This is also a clear indication that there is a serios flaw in the coding of Axis Bank Magnus Card for Burgundy criteria

 

[K.R]

Are u maintaining 30L?

Yes Sir from the day they changed their TNC. Average TRV for October was 54.5 lacs

 

[mastfun]

I thought we both are fighting for 10L AQB 🙂 😀

 

[K.R]

I thought we both are fighting for 10L AQB 🙂 😀

Iam fighting for both AQB along with you and TRV along with Srihari 😀😀😀
My AQB for last 3 months is also above 15 lacs and TRV for October is above 30 lacs

 

[mastfun]

Iam fighting for both AQB along with you and TRV along with Srihari 😀😀😀
My AQB for last 3 months is also above 15 lacs and TRV for October is above 30 lacs

When you already have more than 10L , no point in fighting for AQB 😉

 

[K.R]

When you already have more than 10L , no point in fighting for AQB 😉

Sir Between you and Srihari who ever wins I will also win 🤣. Best result would be both you and Srihari should win

 

[K.R]

Just FYI..Srihari has 10 lacs AQB for more than 3 months now and he has been maintaining a TRV of above 30 lacs since 28th Sep. But his card is not upgraded ( just digged into my conversation with Srihari a month back)

 

[mastfun]

By the way I am enjoying my Capital One card 😎





They provide access to 2 guests free for both primary and add on card holders 🙂