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

 

[ishaangarg]

What is the process? My limit in Regalia is 4.2 lakhs

you need 10L limit for infinia, check cardmaven[dot]in/social/d/542-how-to-upgrade-to-hdfc-infinia-and-dcb-credit-card

 

[K.R]

All they needed to do was, send out such emails to everyone, who was eligible, immediately after they became eligible.
But Lax-is being Axis...

Our correct balances didnt trigger anything at their end, till we got triggered and set the house on fire...

even this they did not email me initially though they only called me up and updated me.. I chased them up for 2 days... PNO is in his/her own world 🙂

Still Iam not confident until it actually happens 🙂

 

[K.R]

What I was told is that they had delayed the 15th refresh as this is the last month. So they wanted to check thoroughly all the October OGS eligible candidates. Else this happens mid of every month

 

[SteelSh0t]

you need 10L limit for infinia, check cardmaven[dot]in/social/d/542-how-to-upgrade-to-hdfc-infinia-and-dcb-credit-card

Tough luck then.
It will take years to get a credit limit of 10 lakhs. Guess I'm stuck with Magnus for now

 

[SM24]

Tough luck then.
It will take years to get a credit limit of 10 lakhs. Guess I'm stuck with Magnus for now

A friend, who's not even in India, who never even had an HDFC account, was offered Infinia on 10L FD.

Bengaluru.

 

[SteelSh0t]

A friend, who's not even in India, who never even had an HDFC account, was offered Infinia on 10L FD.

Bengaluru.

I contacted my RM for FD basis Infinia. He said that you need to have 7 lakh spends on Regalia before they can upgrade to Infinia on FD basis

 

[K.R]

Use your Regalia for buying Mobiles/Electronics etc on EMI on Amazon/Flipkart etc..they will keep increasing your limit. HDFC is very good at increasing the Limits. Also if you spend 1 lacs plus for last 6 months you have a fair chance of upgrade. Unlike Magnus etc since its a Invite only you have no say why you are not eligible etc.. Just be a good customer and they will eventually upgrade you.
Best is settle with DCB first and then try for Infinia.. There is a separate thread on success stories for Infinia

 

[SteelSh0t]

Use your Regalia for buying Mobiles/Electronics etc on EMI on Amazon/Flipkart etc..they will keep increasing your limit. HDFC is very good at increasing the Limits. Also if you spend 1 lacs plus for last 6 months you have a fair chance of upgrade. Unlike Magnus etc since its a Invite only you have no say why you are not eligible etc.. Just be a good customer and they will eventually upgrade you.
Best is settle with DCB first and then try for Infinia.. There is a separate thread on success stories for Infinia

I would have liked to take a DCB first but honestly, the limited acceptance is an issue for me.
The merchants where I spend money only accept Visa or Mastercard.

 

[K.R]

I would have liked to take a DCB first but honestly, the limited acceptance is an issue for me.
The merchants where I spend money only accept Visa or Mastercard.

It is accepted at most of the places. But yes one needs to have a backup card. similar to Amex. My cousin uses it and he is happy with it

 

[jonamdhar]

It is accepted at most of the places. But yes one needs to have a backup card. similar to Amex. My cousin uses it and he is happy with it

Yeah..Diners is way better than Amex in term of acceptance in India.

 

[palvannan]

I called today as well after receiving the email. CC said I am not a true burgundy. 🙂

I think we should call the PBC every morning to find out , if the approved list for upgrade has been uploaded or not into the system , as the default rejection message will get updated and change on that D-day. Please post when someone gets card upgraded after calling phone bank support 😂

 

[SteelSh0t]

It is accepted at most of the places. But yes one needs to have a backup card. similar to Amex. My cousin uses it and he is happy with it

I use my cards for business payments online where only Visa and mastercard are accepted. I hardly spend money on other stuff, maybe 10k a month at best (If I'm not traveling)

My personal spends are very less, so DCB will not be of any use to me.

 

[K.R]

I use my cards for business payments online where only Visa and mastercard are accepted. I hardly spend money on other stuff, maybe 10k a month at best (If I'm not traveling)

My personal spends are very less, so DCB will not be of any use to me.

If you are also looking for Miles and as I understand that you are sure that the websites you use does not accept non Visa and Mastercard then you should go for Atlas or Citi Premier Miles. If you are not interested in Miles then Apay. You can also try for Emerald Metal if it is showing in your Upgrade offer.

 

[jonamdhar]

Finally applied for the M4B card offline through RM. Hope there are no more surprises before approval.

What is the typical timeline for the new M4B (not upgrade) to get approved?

Finally got the Magnus for Burgundy card approved.

Oct 11: Upgraded to Burgundy Salary Account
Nov 6: Received the first OGS
Nov 7: Called the RM to apply for the card. A guy came to physically collect the documents.
Nov 14: Since the approval wasn't progressing, dropped a mail to PNO and premium experience.
Nov 17: Received the approval message and the digitial card is also reflecting in the app.

Waiting to receive the physical card.

Thank you all for your guidance which helped me take the right steps at the right time.

 

[palvannan]

Finally got the Magnus for Burgundy card approved.

Oct 11: Upgraded to Burgundy Salary Account
Nov 6: Received the first OGS
Nov 7: Called the RM to apply for the card. A guy came to physically collect the documents.
Nov 14: Since the approval wasn't progressing, dropped a mail to PNO and premium experience.
Nov 17: Received the approval message and the digitial card is also reflecting in the app.

Waiting to receive the physical card.

Thank you all for your guidance which helped me take the right steps at the right time.

Congrats. That was extremely fast for a new Burgundy Magnus card application.Salary transfer account is what they need to fast track LTF offer. And escalations at the right level would have helped . Were you holding Axis Bank savings account earlier ?

 

[chasni]

Got another call due to escalation to MD's desk. They again confirmed I am eligible. But this time told me to call between Nov 22 and Nov 30 for upgrade.

Another day and another date.

 

[K.R]

Lets all start copying MD on a daily baisis 😎

 

[jonamdhar]

Congrats. That was extremely fast for a new Burgundy Magnus card application.Salary transfer account is what they need to fast track LTF offer. And escalations at the right level would have helped . Were you holding Axis Bank savings account earlier ?

Yes. The salary account I have is more than 10 years old. While I discontinued crediting salary to this account for a long while. I started using it for salary credits from Aug 23 onwards after the Magnus rumors. And eventually converted to Burgundy Salary in Oct 23.

 

[K.R]

Yes. The salary account I have is more than 10 years old. While I discontinued crediting salary to this account for a long while. I started using it for salary credits from Aug 23 onwards after the Magnus rumors. And eventually converted to Burgundy Salary in Oct 23.

Okie.. So you were eligible based Salary from Aug..it just needed Burgundy upgrade👍

 

[jonamdhar]

Okie.. So you were eligible based Salary from Aug..it just needed Burgundy upgrade👍

That's another story. Aug and Sep do not qualify for the threshold limit of 3lakh. I was just lucky get a hike at the right time to get the first eligible salary credit in the first week of Oct.