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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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I opened a Burgundy salary account on Sept 1. First the CSR told me I have to wait for 45 days (till Oct 15) to apply for M4B. After Oct 15 they told me to contact my RM, who in turn sent be back to the CSR team. Now the CSR is telling me to wait for 45 days from Oct 1 (no reason given) and that I will get an email after Nov 15. They are just dragging the matter on. I feel that when I contact them on Nov 16, there will be a new story. Anyone who has been in similar situation? What is the resolution?
 
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UKJ said:
I opened a Burgundy salary account on Sept 1. First the CSR told me I have to wait for 45 days (till Oct 15) to apply for M4B. After Oct 15 they told me to contact my RM, who in turn sent be back to the CSR team. Now the CSR is telling me to wait for 45 days from Oct 1 (no reason given) and that I will get an email after Nov 15. They are just dragging the matter on. I feel that when I contact them on Nov 16, there will be a new story. Anyone who has been in similar situation? What is the resolution?
Click to expand...
Have you ever watched Loki serious in hotstar? There this TVA have multiple timeline branches and all have different variants, this is like the same, if we need to name the stunt of Axis, this could be, "Axiverse, The Burgundy Magnus saga"
 
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RupayMan said:
Have you ever watched Loki serious in hotstar? There this TVA have multiple timeline branches and all have different variants, this is like the same, if we need to name the stunt of Axis, this could be, "Axiverse, The Burgundy Magnus saga"
Click to expand...
In this saga either we get or not..decision is if we dont get eventually ltf are we prepared for fees. Also what are the benefits if paid for u.. is it worthwhile for u. If not get out and dont crack head over it. They themselves dont know what to do how to streamline process and keep it simple
 
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UKJ said:
I opened a Burgundy salary account on Sept 1. First the CSR told me I have to wait for 45 days (till Oct 15) to apply for M4B. After Oct 15 they told me to contact my RM, who in turn sent be back to the CSR team. Now the CSR is telling me to wait for 45 days from Oct 1 (no reason given) and that I will get an email after Nov 15. They are just dragging the matter on. I feel that when I contact them on Nov 16, there will be a new story. Anyone who has been in similar situation? What is the resolution?
Click to expand...
Technically you are very much eligible. Drop a mail to premium experience and PNO.
 
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Thomas244 said:
In this saga either we get or not..decision is if we dont get eventually ltf are we prepared for fees. Also what are the benefits if paid for u.. is it worthwhile for u. If not get out and dont crack head over it. They themselves dont know what to do how to streamline process and keep it simple
Click to expand...
Most of the magnus holders didnt got magnus because of ER of 5:4, it's very few people who really cares for the real benefit of conversion than the fees paid, they don't care about return benefit in terms of tata cliq vouchers, it's secondary. Many took magnus for return benefit with 10k voucher and BMS, Easy diner, visa infinite, plus 25k bonus of 1L spend atleast in 1 or 2 times per year itself is very beneficial.
 
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If I do transaction on my old Magnus of 4 Lakh and than upgrade in next 10-15 days to BM will the enhanced ERP's which will be credited after 45 days also convert to Burgundy Points?
 
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rdargar said:
If I do transaction on my old Magnus of 4 Lakh and than upgrade in next 10-15 days to BM will the enhanced ERP's which will be credited after 45 days also convert to Burgundy Points?
Click to expand...
Question is are you getting upgraded..if yes..then just get it done..you old card will be valid for 45 days
 
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rdargar said:
If I do transaction on my old Magnus of 4 Lakh and than upgrade in next 10-15 days to BM will the enhanced ERP's which will be credited after 45 days also convert to Burgundy Points?
Click to expand...
Right now only core credit card points (Base rewards) seems to be getting converted to MB points.

Accelerated points like gyftr, grabdeals, milestones etc are still in ER bucket as per other users who have already got some points converted.
 
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K.R said:
We are in 3rd week of November . Anyone got the upgrade 🤣 or new jhumla of wait till xyz date
Click to expand...
I had escalated the complaint to PNO 1.5 weeks ago. Got a reply this week that I do not satisfy AQB criteria as per my Aug and Sep OGS. Then I forwarded that to MDs desk with clear explanation and calculation how I satisfy TRV and AQB both. They responded within an hour with just copy paste of M4B eligibility criteria.

Sometimes, I wonder how the bank is even functional.
 
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