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

 

[sahilgulati5]

r u sure? i was told to try on 26th as that would be the last refresh

 

[ishanmontella]

Yes, ratio will be 5:4 till 1-2 days after the card is activated. Once the new card is activated and you receive points from the new card, the segregation will kick in, and the old Edge reward points will no longer be available for transfer at 5:4.

Then, you must wait 45 days till the old card is blocked.

Right, if you haven't transferred all your existing points already, or are still expecting a bunch of points from Gyftr, etc from old Magnus.

 

[mastfun]

r u sure? i was told to try on 26th as that would be the last refresh

Yup that's the answer I got from escalation team!

 

[ankurarora898]

In customer care ask to connect to Escalation desk

have emailed as he asked me to do, let's see

 

[hrishig]

But isn't utility not eligible for rewards now?

The amount was utility + subscriptions + education fees + insurance payments etc. Go via Amazon Pay and other route. Used Cred till 50k, which also will be eligible. Instead of spending 1 lakh each month, which was the norm for the old Magnus, with the new Magnus, you can pay 6 lakh twice a year to get the best reward points.

 

[SM24]

A

And my M4B arrived, very fast delivery haha

Axis seems to prefer you over lot of us lesser mortals.
#CardInTransit

 

[K.R]

The amount was utility + subscriptions + education fees + insurance payments etc. Go via Amazon Pay and other route. Used Cred till 50k, which also will be eligible. Instead of spending 1 lakh each month, which was the norm for the old Magnus, with the new Magnus, you can pay 6 lakh twice a year to get the best reward points.

And what about the interest on this advance payment

 

[K.R]

A

Axis seems to prefer you over lot of us lesser mortals.
#CardInTransit

Ceo door ka ristedaar nikla 😀. or May be " Chacha humaare Vidhayak Hain"
Jokes apart Viper must be from Delhi and Northwards.. For Maharashtra and south it should come tomorrow

 

[SS33]

Ceo door ka ristedaar nikla 😀. or May be " Chacha humaare Vidhayak Hain"
Jokes apart Viper must be from Delhi and Northwards.. For Maharashtra and south it should come tomorrow

From down south and I have my new card in hand today morning. Just updating 🙂

 

[K.R]

From down south and I have my new card in hand today morning. Just updating 🙂

Then you guys are Darlings of Axis..for me it shows reached Pune but post that it says Network delays 🤣 🤣 🤣

 

[Gemi_Fin]

I tried for 2 hours yesterday night..I failed. Today I was was successful in 30 minutes 🙂

I tried transferring earlier today but failed, points fortunately got reversed in a couple of hours. Transfer attempt was for Krisflyer, not sure if the issue is with Axis app. Is transferring via online banking webpage any better than the axis app?

Generally, does anyone know if Krisflyer would come up with any bonus points offers?

 

[Viper1057]

Ceo door ka ristedaar nikla 😀. or May be " Chacha humaare Vidhayak Hain"
Jokes apart Viper must be from Delhi and Northwards.. For Maharashtra and south it should come tomorrow

Yes, Delhi NCR so I already knew I will get it by tomorrow haha.

A

Axis seems to prefer you over lot of us lesser mortals.
#CardInTransit

Everything become smooth as soon as I tell my BM that I will be closing my axis account soon 😆 🤣 🤪

 

[rohitb]

Yes, ratio will be 5:4 till 1-2 days after the card is activated. Once the new card is activated and you receive points from the new card, the segregation will kick in, and the old Edge reward points will no longer be available for transfer at 5:4.

Then, you must wait 45 days till the old card is blocked.

Ye pehle batana tha / should have told this earlier 🙁

 

[MilesMax]

Does using old Magnus trigger points accumulation in the MB bucket by any chance? Like most of you, I am not planning to activate M4B right now.
I still have to do some forex transactions where Magnus gives the best 2% rate along with base rewards + 10% extra ER. By using the old Magnus I won't be losing the 5:4 conversion I currently have on ERs right?

 

[K.R]

Does using old Magnus trigger points accumulation in the MB bucket by any chance? Like most of you, I am not planning to activate M4B right now.
I still have to do some forex transactions where Magnus gives the best 2% rate along with base rewards + 10% extra ER. By using the old Magnus I won't be losing the 5:4 conversion I currently have on ERs right?

As of now iam using Old Magnus and it shows 0 in MB bucket and allows me 5:4 on ER

 

[K.R]

Ye pehle batana tha / should have told this earlier 🙁

Sir no one knew about this. This is how it is panning out to be and based on individual experiences we are posting here for others benefit.🙂

 

[shashankrt]

Does using old Magnus trigger points accumulation in the MB bucket by any chance? Like most of you, I am not planning to activate M4B right now.
I still have to do some forex transactions where Magnus gives the best 2% rate along with base rewards + 10% extra ER. By using the old Magnus I won't be losing the 5:4 conversion I currently have on ERs right?

Arent same benefits available on Burgundy Magnus?

 

[K.R]

Arent same benefits available on Burgundy Magnus?

Yes but 5:2 conversion gets triggered and people might be waiting for some past ERs to be credited

 

[SS33]

Then you guys are Darlings of Axis..for me it shows reached Pune but post that it says Network delays 🤣 🤣 🤣

Well, doesn't really matter. Does it ! Anyways it'll probably be safe in its glamorous box for a couple of weeks 🙂

 

[shashankrt]

Yes but 5:2 conversion gets triggered and people might be waiting for some past ERs to be credited

I can understand ppl waiting for past ERs. However if you ahve transferred all existing ERs then why wait and not use new burgundy Magnus? or am I missing something?