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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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K.R said:
Called Customer care as I cannot see the full card details in Virtual Card. He mentioned we can pay against the old card as well. Also though we have not received any SMS as per him he checked and confirmed that the card was dispatched on 18th October. So most likely tomorrow or day after tomorrow we should get the cards as well.
Click to expand...
Finally congratulations !!
 
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K.R said:
Called Customer care as I cannot see the full card details in Virtual Card. He mentioned we can pay against the old card as well. Also though we have not received any SMS as per him he checked and confirmed that the card was dispatched on 18th October. So most likely tomorrow or day after tomorrow we should get the cards as well.
Click to expand...
I heard from another person that if the Burgundy Magnus is not used for any new spends after activating the card , then the EDGE Reward points earned ( and to be credited) using other cards will continue to get 5:4 ratio ! That means the 5:4 conversion will work ( for all regular EDGE points as well ) as long as the Burgundy Magnus bucket is having zero balance , even after activation of Burgundy magnus LTF card . But once Burgundy Magnus gets filled with some base ER points due to spends on new card , then the transfers get into a mess. Are you hearing anything like this ?
 
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palvannan said:
I heard from another person that if the Burgundy Magnus is not used for any new spends after activating the card , then the EDGE Reward points earned ( and to be credited) using other cards will continue to get 5:4 ratio ! That means the 5:4 conversion will work ( for all regular EDGE points as well ) as long as the Burgundy Magnus bucket is having zero balance , even after activation of Burgundy magnus LTF card . But once Burgundy Magnus gets filled with some base ER points due to spends on new card , then the transfers get into a mess. Are you hearing anything like this ?
Click to expand...
Here no 5:4 only till now 🤣
 
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palvannan said:
I heard from another person that if the Burgundy Magnus is not used for any new spends after activating the card , then the EDGE Reward points earned ( and to be credited) using other cards will continue to get 5:4 ratio ! That means the 5:4 conversion will work ( for all regular EDGE points as well ) as long as the Burgundy Magnus bucket is having zero balance , even after activation of Burgundy magnus LTF card . But once Burgundy Magnus gets filled with some base ER points due to spends on new card , then the transfers get into a mess. Are you hearing anything like this ?
Click to expand...
Yes its exactly correct.
 
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palvannan said:
I heard from another person that if the Burgundy Magnus is not used for any new spends after activating the card , then the EDGE Reward points earned ( and to be credited) using other cards will continue to get 5:4 ratio ! That means the 5:4 conversion will work ( for all regular EDGE points as well ) as long as the Burgundy Magnus bucket is having zero balance , even after activation of Burgundy magnus LTF card . But once Burgundy Magnus gets filled with some base ER points due to spends on new card , then the transfers get into a mess. Are you hearing anything like this ?
Click to expand...
Just to clarify, we can activate the new card but should not use it until all Pending Edge points are credited/ migrated to M4B bucket?

I just have one Axis card (Magnus).
 
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sumit_yadav said:
Just to clarify, we can activate the new card but should not use it until all Pending Edge points are credited/ migrated to M4B bucket?

I just have one Axis card (Magnus).
Click to expand...
What I meant was ,you need to transfer all the balance ER points to Hotel and Flight loyalty partners like Club vistara, Accor etc before activating the new Burgundy Magnus card. At least don't do any spends on your card till the ER points are transferred with 5:4 ratio to your favourite Airlines /hotel partners , after registering with loyalty programs and linking it in travel edge site. This bug may be rectified soon , and hence make use of generous 5:4 transfer for all other card earns as well . The pending ER points for milestone benefits , AEPs etc for spends done on the old card , will still move to normal ER bucket only , i think. Viper1057 can throw some light on this .
 
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Viper1057 said:
I am personally using it from past 2months on PayZapp, just add your debit card there, then do credit card bill payment using axis burgundy debit card. But I heard even Mobikwik gives the ER, not sure about other apps but it should give as well.
Click to expand...
Thanks Viper. Test amount of 10K was made to Infinia on 19th. 21st i received confirmation that money was received on 20th dated 19th, I can see 100 ER credited as well 🙂
 
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Anyone faced this situation?? - I have a salary Burgundy account since 3 months. Salary over Rs. 3 lacs has been credited for 3 months. However my employer did not enter the narration "Salary" while making the RTGS for first 2 payments. For third salary payment my employer paid through NEFT where the narration "Salary" was received along with payment.

Now Axis team says that since "salary" word is not written in the RTGS remittance, it will not be counted as salary payment and so I am not eligible for M4B upgrade.

I am dumbfounded with this response. Don't know how to respond or how to resolve.

Anyone who has faced this issue, and knows how to get it resolved? Many thanks in advance.
 
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