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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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mastfun said:
True ... My RM forced me to create a RD of 20K to achieve his goals , week after I opened my account 🙃
Click to expand...
You can close it with small loss..doesnt make sense..wait till this month end and close it. And tell him you closed it because he was total useless..had he got the card for you you were actually planning to make it 1 Lakhs recurring deposit 😀 as a Diwali surprise to him
 
Upvote 0 Downvote
K.R said:
There was one in this group who got with TRV of 3 days 😎
Click to expand...
You are talking about me I am assuming 😏

Incidentally my friend, with the same RM, same account opening date, 30 L TRV creation on the same date etc has yet to be upgraded even after constant follow ups now. Actually now our accounts have deviated in the sense that I am just maintaining 10L Balance post my upgrade and he maintained 30L TRV through out October. The reason given is, for some reason his One glance statement can't be generated and hence he can't be upgraded. And they have no idea why the one glance statement can't be generated. He can not even download from consolidated statement link.

Just shows that their systems are totally effed. You can't be sure of anything with Axis
 
Upvote 0 Downvote
Meaning of AxIs is Extension
Another Uruttu Reply,

After reviewing, we regret to inform you that you are currently not eligible to upgrade your Magnus Card to a Burgundy Magnus Credit Card.

However, we request that you revert to us post 25th November 2023, so that we can assist with the upgrade.

Please note: Card approval is subject to fulfillment of the credit policy of the bank.
 
Upvote 0 Downvote
RupayMan said:
Meaning of AxIs is Extension
Another Uruttu Reply,

After reviewing, we regret to inform you that you are currently not eligible to upgrade your Magnus Card to a Burgundy Magnus Credit Card.

However, we request that you revert to us post 25th November 2023, so that we can assist with the upgrade.

Please note: Card approval is subject to fulfillment of the credit policy of the bank.
Click to expand...
What is your Magnus Qualification 🤣
 
Upvote 0 Downvote
RupayMan said:
Meaning of AxIs is Extension
Another Uruttu Reply,

After reviewing, we regret to inform you that you are currently not eligible to upgrade your Magnus Card to a Burgundy Magnus Credit Card.

However, we request that you revert to us post 25th November 2023, so that we can assist with the upgrade.

Please note: Card approval is subject to fulfillment of the credit policy of the bank.
Click to expand...
Post 25th? whats the end date?
 
Upvote 0 Downvote
For me they said wait till November Mid for the refresh. An email is also shared to wait till Mid of November by Premium Experience.
I heard 3 different versions from Escalation desk on call
1) An eligibility list will be shared on 10th. To check on 11th
2) Check after Nov 15th Mid Month refresh
3) Check in 3rd week as refresh happens on 3rd week of every month
 
Upvote 0 Downvote
K.R said:
For me they said wait till November Mid for the refresh. An email is also shared to wait till Mid of November by Premium Experience.
I heard 3 different versions from Escalation desk on call
1) An eligibility list will be shared on 10th. To check on 11th
2) Check after Nov 15th Mid Month refresh
3) Check in 3rd week as refresh happens on 3rd week of every month
Click to expand...
I got middle of nov mail as well as 25th nov mail. Not sure which one is correct, or both are wrong
 
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