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

 

[SteelSh0t]

I got the upgrade done just now. Card is appearing in the mobile app now .

Are you able to setup the PIN in Axis app? I'm getting error after entering MPIN

 

[palvannan]

Are you able to setup the PIN in Axis app? I'm getting error after entering MPIN

You need to unbox it ( on app) after you receive the activation code , which will come with the physical delivery

 

[SteelSh0t]

You need to unbox it ( on app) after you receive the activation code , which will come with the physical delivery

I unboxed it already without receiving the physical card, but unable to set the PIN

 

[RupayMan]

Currently the 10Lakh AQB criteria ( JAS) can be utilised only by people who had Burgundy accounts already from July and not by those who opened accounts in September/October. Most likely they are going to extend the offer till end of December, so that those who maintain 10L AQB balance in OND quarter also become eligible for the LTF offer or with some other concession . After all they want customers to park huge money in savings or FD permanently so that they get lot of funds for liquidity.

What happened to Aug customers, what did aug done to miss out? 😅

 

[K.R]

That feeling when the Customer Care guy was reading the TNC

 

[K.R]

What happened to Aug customers, what did aug done to miss out? 😅

Iam August customer. Not sure If I qualified via AQB or TRV as I maintained the TRV in OCT after Axis changed the TNC

 

[SS33]

Thanks to all the helpful info shared in this thread and thanks to everyone who has posted their individual scenarios. I have also called up CC and got my upgrade done. Just adding my 2 paise to be useful here - account upgraded to burgundy in the first week of oct, maintained TRV since second week of oct, still got the upgrade. Guys in the same boat, please give it a try !!

 

[SM24]

Just called Axis Bank. Iam eligible. And got my Card upgraded to Magnus for Burgundy. One hell of a chase has finally ended 🙂🙂🙂.

I called too.

Got upgraded 🙂

Thank YOU and to everyone who helped me on this rollercoaster.

Whatta a journey.
🥵

PS: From the verge of kicking Axis's bucket to now entering ER buckets...We've come a looong way...

 

[K.R]

Chasni please hurry up.. upgrade offer is valid only for few hours 🤣🤣

 

[chasni]

Chasni please hurry up.. upgrade offer is valid only for few hours 🤣🤣

Stuck on office call. It is already over running by 30 mins.

 

[K.R]

Heading for drinks with my Magnus card for the last time. Was best card ever. Will store it as a momento/Memory. May be we can tell the stories to our grand children 😁😁😁😁

 

[Ravana_88]

Got my salary account upgraded to Burgundy an hour back . The salary was being credited from Nov'22 but it got upgraded just now . Is there a chance to upgrade my Magnus to LTF Burgundy Magnus ?

 

[Viper1057]

I got upgraded as well just on call, never maintained more than 12 lakhs, and opened account on 4th Oct, so definately on AQB criteria(don't know how they calculated anyways). Damn never the less.

 

[palvannan]

I unboxed it already without receiving the physical card, but unable to set the PIN

Wait till the activation code is delivered with the physical card. And then unbox and enter activation code. After that u can change pin

 

[SM24]

Stuck on office call. It is already over running by 30 mins.

Check if there are any M4B aspirants... it may get over quickly 🙂

 

[K.R]

Our calls and chasers were costing them hard.So they felt better upgrade all and reduce this frequency of calls 😎

 

[SM24]

I got upgraded as well just on call, never maintained more than 12 lakhs, and opened account on 4th Oct. Damn

I'm really convinced they hate this forum...
#Someone'sLurking

 

[Viper1057]

It was a hell of a journey @K.R @chasni @srihari1977 @mastfun Kudos that we got in time.

 

[baba123]

Next question - anybody know the timeline for conversion of existing ER points (5:2) to Magnus Burgundy (5:4) on travel edge?

 

[palvannan]

What happened to Aug customers, what did aug done to miss out? 😅

Just call customer care and check . Maybe you are the lucky one from August to get upgrade on AQB basis 😂