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

 

[K.R]

This is with reference to your email dated 15-11-2023, We understand that you wish to upgrade your existing Magnus credit card ending with xxxx to Magnus Burgundy Credit Card.



We wish to inform you that, as per the update received against your request if you are maintaining the requisite Burgundy ‘Total Relationship Value' Criteria with the bank, you will be able to upgrade the card to a Burgundy Magnus card.



The upgrade is not possible for your credit card at the moment.



We kindly ask that you respond to us post 25th November 2023, so we can verify your eligibility to upgrade your card.

We thank you for banking with us & look forward to your continued patronage.

When was Burgundy opened and the AQB/TRV details please

 

[SteelSh0t]

When was Burgundy opened and the AQB/TRV details please

Account was opened on 14th Sep this year.
Oct OGS showed 23L AMB

Maintaining over 30 lakhs in bank account liquid cash

 

[K.R]

Account was opened on 14th Sep this year.
Oct OGS showed 23L AMB

Maintaining over 30 lakhs in bank account liquid cash

If October OGS is 23 L AMB then you are not eligible in November as per their TNC

 

[SteelSh0t]

If October OGS is 23 L AMB then you are not eligible in November as per their TNC

Their TNC also states an AQB of 10 Lakhs qualifies you to be a True Burgundy Customer

 

[palvannan]

I just now got an update from the escalation team that I am eligible to get the upgrade of my card , and included in the approved list for October. And to Call customer care after 20th to get the new card. Only those who became eligible by October got into the approved list so far it seems. So still hope for others if you become eligible before 30th November.

 

[SteelSh0t]

I just now got an update from the escalation team that I am eligible to get the upgrade of my card , and included in the approved list for October. And to Call customer care after 20th to get the new card. Only those who became eligible by October got into the approved list so far it seems. So still hope for others if you become eligible before 30th November.

What was your OGS for October?

 

[ankurarora898]

This is with reference to your email dated 15-11-2023, We understand that you wish to upgrade your existing Magnus credit card ending with xxxx to Magnus Burgundy Credit Card.



We wish to inform you that, as per the update received against your request if you are maintaining the requisite Burgundy ‘Total Relationship Value' Criteria with the bank, you will be able to upgrade the card to a Burgundy Magnus card.



The upgrade is not possible for your credit card at the moment.



We kindly ask that you respond to us post 25th November 2023, so we can verify your eligibility to upgrade your card.

We thank you for banking with us & look forward to your continued patronage.

same reply to me from the premium experiences.Should I send an email to pno? what is the pno email? upgraded my account in October only

 

[K.R]

What was your OGS for October?

54 L AMB

 

[palvannan]

Account was opened on 14th Sep this year.
Oct OGS showed 23L AMB

Maintaining over 30 lakhs in bank account liquid cash

It seems for AQB criteria , they want all the 3 OGS for calendar quarter, and not for previous 3 months. So by this condition AQB can be used only by those who held Burgundy accounts in July/August/Sep and generated 3 OGS for those 3 months with AQB more than 10 L. For those who opened accounts from August month onwards , only 30 L TRV is possible and they may take TRV eligibility date from the OGS month end date . From which date ,the 45 days waiting period will be calculated from , is not clear.

 

[K.R]

It seems for AQB criteria , they want all the 3 OGS for calendar quarter, and not for previous 3 months. So by this condition AQB can be used only by those who held Burgundy accounts in July/August/Sep and generated 3 OGS for those 3 months with AQB more than 10 L. For those who opened accounts from August month onwards , only 30 L TRV is possible and they may take TRV eligibility date from the OGS month end date . From which date ,the 45 days waiting period will be calculated from , is not clear.

If your TRV is 30 lacs ( AMB) for Oct OGS, it will be 45 days from 1st October

 

[palvannan]

What was your OGS for October?

I think I got it on the basis of AQB for July/Aug/Sep and I have great than 10L AMB from Feb onwards. Also my TRV was more than 30 Lakhs from 11th Sep.

 

[K.R]

same reply to me from the premium experiences.Should I send an email to pno? what is the pno email? upgraded my account in October only

what was AMB for October OGS.. If it was above 30 lacs then you will get it

 

[K.R]

I think I got it on the basis of AQB for July/Aug/Sep and I have great than 10L AMB from Feb onwards. Also my TRV was more than 30 Lakhs from 11th Sep.

Then you were eligible in October itself.. If you are getting now means its based on TRV

 

[SM24]

It seems for AQB criteria , they want all the 3 OGS for calendar quarter, and not for previous 3 months. So by this condition AQB can be used only by those who held Burgundy accounts in July/August/Sep and generated 3 OGS for those 3 months with AQB more than 10 L. For those who opened accounts from August month onwards , only 30 L TRV is possible and they may take TRV eligibility date from the OGS month end date . From which date ,the 45 days waiting period will be calculated from , is not clear.

Not true about calendar quarter, if faq is to be believed.

It says last three months…

See attachment.

Been discussed here many times…
Third or fourth time I’m clarifying with attachment, myself 🙂

 

[K.R]

Also... We may not know what they will say post 20th Nov 🤣
Please don't give up.. Please keep chasing 2 times a day till Month end or card is upgraded whichever is earlier

 

[rdargar]

Yes credited now

If the spends were on old magnus card , the rewards are credited to ER bucket or BurgundyMag. bucket?

 

[palvannan]

Then you were eligible in October itself.. If you are getting now means its based on TRV

Earlier I was trying for new Magnus LTF card by application through RM. It got rejected by end of October as I had got regular Magnus card by then ( issued in October) and then I requested directly for upgrade only in the first week of November.

 

[Harry1]

If the spends were on old magnus card , the rewards are credited to ER bucket or BurgundyMag. bucket?

Only base 12 per 200 rewards (both old card and new card) are under magnus burgundy. And all bonus/milestone/Gyftr/Grab deals (both old and new card) are under edge rewards only.

We are yet to get any confirmation from customer care if this is bug or intended.

 

[K.R]

Earlier I was trying for new Magnus LTF card by application through RM. It got rejected by end of October as I had got regular Magnus card by then ( issued in October) and then I requested directly for upgrade only in the first week of November.

Even then you would have got upgraded when Nov OGS was generated if it is AQB. Just my thoughts

 

[palvannan]

Not true about calendar quarter, if faq is to be believed.

It says last three months…

See attachment.

Been discussed here many times…
Third or fourth time I’m clarifying with attachment, myself 🙂

I asked the same question about AQB eligibility , based on previous 3 months AMB ( after sending Aug/Sep/ Oct OGS) last week and finally after sending July month statement only , they confirmed I meet AQB criteria !