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

 

[mastfun]

I don't know what you talking about sir, I have been on 10~11L balance since day 1 😜🤪

You got the upgrade with 10L AQB?? When did you open the Burgundy account??

 

[Viper1057]

You got the upgrade with 10L AQB?? When did you open the Burgundy account??

Yes sir, check this:

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.

 

[mastfun]

Yes sir, check this:

Can you please share me the number you called? 😀 Did you take your RMs help?

 

[K.R]

I don't know what you talking about sir, I have been on 10~11L balance since day 1 😜🤪

Sirji..you were among the 2-3 exception cases..Most of us had to go for TRV

 

[sumit_yadav]

Anyone reduced the TRV to AQB post M4B upgrade

Planning to transfer TRV to HDFC if they have any offer (Infinia 😉)

 

[Viper1057]

Can you please share me the number you called? 😀 Did you take your RMs help?

Nothing sir, I did raise an email to my RM and he raised to backend few weeks back but I don't think he actually did anything in reality, because he never called me back or ever replied to my emails. Though just a day before getting the upgrade I did randomly got call from my branch manager but it was a general checkup, nothing serious.

Sirji..you were among the 2-3 exception cases..Most of us had to go for TRV

There are few other folks who got it on AQB and who opened account around 7-10 Oct as well.

 

[K.R]

Planning to transfer TRV to HDFC if they have any offer (Infinia 😉)

You can easily get check with your RM

 

[K.R]

Nothing sir, I did raise an email to my RM and he raised to backend but I don't think he actually did anything in reality, because he never called me back or ever replied to my emails. Though just a day before getting the upgrade I did randomly got call from my branch manager but it was a general checkup, nothing serious.


There are few other folks who got it on AQB and who opened account around 7-10 Oct as well.

thats why I mentioned 2-3 🤣 🤣 🤣

 

[mastfun]

Nothing sir, I did raise an email to my RM and he raised to backend few weeks back but I don't think he actually did anything in reality, because he never called me back or ever replied to my emails. Though just a day before getting the upgrade I did randomly got call from my branch manager but it was a general checkup, nothing serious.


There are few other folks who got it on AQB and who opened account around 7-10 Oct as well.

Noo I opened on Sep 23rd and maintaining 15L 🙁

 

[Viper1057]

Noo I opened on Sep 23rd and maintaining 15L 🙁

Yes that's why I am shocked why you are not qualified and to be honest in between October 2nd and November 2nd week, I got 2 credit cards as well (Samsung Infinite & Atlas).

 

[sumit_yadav]

You can easily get check with your RM

He is useless. What he does is just connect me to the credit card department (random guy) who will just read the Infinia eligibility criteria.

 

[mastfun]

Yes that's why I am shocked why you are not qualified and to be honest in between October 2nd and November 2nd week, I got 2 credit cards as well (Samsung Infinite & Atlas).

Now I believe I cannot sleep 😀 Will pull my RM tomorrow!

 

[K.R]

Now I believe I cannot sleep 😀 Will pull my RM tomorrow!

Sir RM is not sufficient. Write an email to Amitabh, PNO and Premium copying RBI and judiciously call 2 times a day and ask them to connect to escalation desk.
If Viiper is fine you can DM him and take his mobile number and mention account registered with this Mobile got upgraded why not me

 

[K.R]

He is useless. What he does is just connect me to the credit card department (random guy) who will just read the Infinia eligibility criteria.

You can change your branch

 

[ishanmontella]

Those who already hold M4B and received Sep Accelerated ER, is it in M4B bucket or normal bucket? (and also specify whether trnx was done using M4B or normal Magnus)

Received Sep accelerated ER in normal bucket.

Spends were done through old Magnus.

Activated M4B in October end.

Hoping to get those & August milestone points transferred to the Magnus Burgundy bucket for 5:4 conversion (as part of the “one-time transfer” as per their Tnc). Will write to premium.experience.

 

[hrishig]

Received Sep accelerated ER in normal bucket.

Spends were done through old Magnus.

Activated M4B in October end.

Hoping to get those & August milestone points transferred to the Magnus Burgundy bucket for 5:4 conversion (as part of the “one-time transfer” as per their Tnc). Will write to premium.experience.

I received the points for Aug mile stone and 7 lakh spent in the standard bucket. Somehow I have around 2k points in the Magnus bucket. Now If I try to do a transfer it shows that I can transfer only 2k points. Don't understand what is going on.

 

[hrishig]

Where do you spend so much? and in what bucket is your Acclrtd Er?

I paid advance bills for most of the expenses coming in the next few months. I spent all the 7 lakh using the new burgundy Magnus Mastercard. Still, points are in the normal bucket.

 

[rohitb]

For me it's showing edge reward points as well as magnus burgundy points.
Somehow it does not give me option to redeem edge rewards but only burgundy points (and my edge rewards did not covert to burgundy, that said I see more burgundy points than I am eligible for based on spends made)
Are folks also facing this issue ? I have been using magnus burgundy for 10+ days now .

 

[rdargar]

I paid advance bills for most of the expenses coming in the next few months. I spent all the 7 lakh using the new burgundy Magnus Mastercard. Still, points are in the normal bucket.

But isn't utility not eligible for rewards now?

 

[seekndestroy99]

I received the points for Aug mile stone and 7 lakh spent in the standard bucket. Somehow I have around 2k points in the Magnus bucket. Now If I try to do a transfer it shows that I can transfer only 2k points. Don't understand what is going on.

You must have used the new magnus right?