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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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saketreddy said:
Truest burgundy getting 5:4.

True burgundy only getting card, no 5:4.
Click to expand...
I have Atlas, Samsung Infinite & Magnus. Burgundy opened on 4th Oct and never maintained more than 12L. No actual plans to keep continuing with M4B for more than few months too yet I am all good with all my points now, just left with 25K milestone & few months gyftr points now since will be switching to Infinia from next week onwards 😆
 
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MilesMax said:
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.
Click to expand...
I think Milestone points and AEPs and TR/Gyftr erc for old Magnus card will go into the normal ER bucket only , but they should get benefit of 5:4 ratio as per FAQ. For new magnus Burgundy cards , AEP will get posted only 45 days after the month end date of transaction. Hence we need to wait till middle of December to see where the AEPs go for the ones who got upgraded late Sep/early October.
 
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chasni said:
For me, M4B is a travel edge card.
Click to expand...
Almost all the time I saw Traveledge Prices to be bumped up. just an example few months back I was trying to book an international ticket. It was showing 43 K in both Smartbuy and Traveledge..But in traveledge it used to say Prices have changed and revised prices were showing as 58K. I checked for 2 days and booked via Smartbuy. I wanted to book via Traveledge for that 25K Rewards points on 1 lakh spends.
 
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K.R said:
Almost all the time I saw Traveledge Prices to be bumped up. just an example few months back I was trying to book an international ticket. It was showing 43 K in both Smartbuy and Traveledge..But in traveledge it used to say Prices have changed and revised prices were showing as 58K. I checked for 2 days and booked via Smartbuy. I wanted to book via Traveledge for that 25K Rewards points on 1 lakh spends.
Click to expand...
It happens sometimes but I have been able to book tickets at a good price till now.
 
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K.R said:
With Axis C2C is best option
Click to expand...
Even there I believe you still need to declare your income as 24L+, without that its most likely you won't be able to apply. Yeah it depends on them if they ask for salary slips/income documents during processing, but you still need to declare that if you want to have it.
 
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I applied for Atlas yesterday and even that was on C2C.
It was showing under Auto approved cards but thought of keeping RM happy. I might need his help later 🙂
 
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K.R said:
I applied for Atlas yesterday and even that was on C2C.
It was showing under Auto approved cards but thought of keeping RM happy. I might need his help later 🙂
Click to expand...
Yeah as I said, C2C doesn't necessarily require documents, and for your Atlas there isn't even C2C required, your RM will also raise the same because its already showing preapproved. I applied atlas over call and got the card as well instantly even though I see nothing in pre-approved, no need to prove any docs and same will go for manually as well because last year I got Vistara Signature by applying manually online and got it without docs but since it wasn't my first card & Axis already knows my existing card limit & income which I declared and proved while getting the first credit card from them before so didn't need to prove anything this time.

Generally Axis asks for all sort of document when you are completely new to them. But if you already hold a card with limit, you might get other cards without any docs or anything even. But as far as I am aware when you do a manual application, they need to enter the number of the annual income, which you need to declare now its upto them if they verify it during your application process or not(if you already hold a card and already meet the eligibity), they won't else they might.

@mastfun applied M4B manually on the basis of salary, but I guess someone on the forum also applied through C2C so they can better clarify.
 
Last edited:
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raunak said:
My father has a Burgundy account but no Magnus card.

Can he apply directly for Magnus for Burgundy card??
Click to expand...
If your father doesn't meet income Criterion for Magnus card as well as 10L C2C basis , then first try to get Vistara Signature card through RM and after a spend of 5 lakhs or more , you will get pre -approved offers in the apply for credit cards section in the app where you will find paid Magnus card and Atlas card sitting there , requiring no further documentation except only a good cibil/ Experian score. After that it should be possible to upgrade it to Magnus Burgundy card in a few months on AQB/TRV basis . This method worked for me ( last month) to get Burgundy Magnus ( LTF) , so it could for your parent also to get a paid version at least. otherwise include your name in Family Burgundy and you can try applying on the basis of Income/C2C with also 10L in savings account in your name.
 
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