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

 

[baba123]

My mem number has changed twice. Once when I got upgraded to Accor Plus and then when switched to gold. But I have been using the original mem number without issues.

Thank you, that's helpful. Then I will attempt the transfer, though I'm confused about the transfer bonus. 50% bonus is quite generous.

 

[chasni]

Thank you, that's helpful. Then I will attempt the transfer, though I'm confused about the transfer bonus. 50% bonus is quite generous.

I transferred all my points today. I didn't want to risk with Axis. Also, last year's bonus was not applicable to Axis I think as it was not in the TnC. Unless, I didn't read it carefully.

 

[ankurarora898]

travel edge points are eligible for 5:4 transfer on m4b right? didn't get the card yet but curious 🙊

 

[Rohit1991]

I transferred all my points today. I didn't want to risk with Axis. Also, last year's bonus was not applicable to Axis I think as it was not in the TnC. Unless, I didn't read it carefully.

I upgraded to MB yesterday and it is showing up in my Axis app ( haven't unboxed it). I still see 5:2 only on my ER points and not 5:4.
Am I doing something wrong? 🙁

 

[saketreddy]

I upgraded to MB yesterday and it is showing up in my Axis app ( haven't unboxed it). I still see 5:2 only on my ER points and not 5:4.
Am I doing something wrong? 🙁

Same for me. No 5:4 yet

 

[palvannan]

Yeah wait for a while, its slow after selecting the partner...
Meanwhile another friend of mine confirmed he also got 5:4, he also got the card upgraded yesterday evening. I suggest you all to transfer your ERs as of now to wherever you like to fetch 5:4 else you might be facing the issue which @unwind highlighted few posts up.

Thanks for the tip. I got my little balance ER points converted 5:4 into CV points before activation of new card. Though the points transfer interface is awfully slow

 

[palvannan]

I upgraded to MB yesterday and it is showing up in my Axis app ( haven't unboxed it). I still see 5:2 only on my ER points and not 5:4.
Am I doing something wrong? 🙁

Wait till the Burgundy Magnus bucket to show up with zero balance. And then transfer all ER points before new card activation to get 5:4 ratio. It took one day to change from 5:2 to 5:4 ratio for me

 

[palvannan]

travel edge points are eligible for 5:4 transfer on m4b right? didn't get the card yet but curious 🙊

Yes all points earned through Burgundy Magnus are eligible for 5:4. Only that Travel edge spends are not eligible for Accelerated Edge Points, as they are already getting 5X of normal points

 

[palvannan]

I upgraded to MB yesterday and it is showing up in my Axis app ( haven't unboxed it). I still see 5:2 only on my ER points and not 5:4.
Am I doing something wrong? 🙁

Good you got it upgraded. After all the anxieties last week 😅

 

[Prav]

Yes all points earned through Burgundy Magnus are eligible for 5:4. Only that Travel edge spends are not eligible for Accelerated Edge Points, as they are already getting 5X of normal points

You mean the 4x accelerated points for the spends with magnus burgundy on travel edge portal will get 5:2 conversion?

 

[palvannan]

You mean the 4x accelerated points for the spends with magnus burgundy on travel edge portal will get 5:2 conversion?

All Travel edge points ( including 4x additional) also will get 5:4 conversion ratio like other edge points earned on Burgundy Magnus eligible spends. 5:2 is only for non Burgundy Magnus credit cards ( like normal Magnus/Select etc) , debit card/banking earns and they will go into a seperate Edge Rewards bucket as seen in the Travel edge portal. Burgundy Magnus points will go into a new bucket after card activation and future spends on that card and they all will get 5:4 ratio benefit.

 

[K.R]

I upgraded to MB yesterday and it is showing up in my Axis app ( haven't unboxed it). I still see 5:2 only on my ER points and not 5:4.
Am I doing something wrong? 🙁

Did you had any other card other than Magnus

 

[palvannan]

Now my old magnus is missing in the app. New one has not been delivered and I need to pay the dues.

When Will the credit card bill for old Magnus be generated ( bill generation due date was 18th for me) , if the card was upgraded on 17th ? The statement hasn't come by mail either. I guess you can use Axis Bill pay/recharge option in the mobile app to pay your credit card bills using Axis bank account in your case.

 

[K.R]

When Will the credit card bill for old Magnus be generated ( bill generation due date was 18th for me) , if the card was upgraded on 17th ? The statement hasn't come by mail either. I guess you can use Axis Bill pay/recharge option in the mobile app to pay your credit card bills using Axis bank account in your case.

Bill generation was 18th which meas you have atleast 15 days... Also you can always pay agains your old card as it is active for 45 days. Do one test by paying 1K

 

[Rohit1991]

Did you had any other card other than Magnus

Yes. Reserve and Magnus. Still showing 5:2 for me 🙁

 

[MilesMax]

All Travel edge points ( including 4x additional) also will get 5:4 conversion ratio like other edge points earned on Burgundy Magnus eligible spends. 5:2 is only for non Burgundy Magnus credit cards ( like normal Magnus/Select etc) , debit card/banking earns and they will go into a seperate Edge Rewards bucket as seen in the Travel edge portal. Burgundy Magnus points will go into a new bucket after card activation and future spends on that card and they all will get 5:4 ratio benefit.

This is still not implemented by Axis yet.
Even for people who got MB upgrade back in September itself.
Only base credit card points are being credited to MB bucket. Rest of accelerated points are still going to ER bucket.
Most of the accelerated ERs (milestone, AEP, Traveledge, gyftr etc) are shown under savings bank in ER transaction history. There is a lot of work yet to be done by Axis.

 

[chasni]

I transferred all my points today. I didn't want to risk with Axis. Also, last year's bonus was not applicable to Axis I think as it was not in the TnC. Unless, I didn't read it carefully.

Received all my points in Accor today. Used the original mem number (Not Plus & Not Gold) for transfer.

 

[Viper1057]

Received all my points in Accor today. Used the original mem number (Not Plus & Not Gold) for transfer.

Same received my Accor transfer, KrisFlyer is still in progress.

 

[chasni]

Same received my Accor transfer, KrisFlyer is still in progress.

Kris takes time as per my experience.

 

[saketreddy]

Did you had any other card other than Magnus

Same received my Accor transfer, KrisFlyer is still in progress.

Truest burgundy getting 5:4.

True burgundy only getting card, no 5:4.