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

 

[sumit_yadav]

When we apply for M4B Add-on card are they just sending the Credit Card. What about the Priority Pass?

 

[SM24]

I transferred around 81k points to Accor yesterday and today Axis refunded back those points and cancelled the transfer. Is there anyone else who tried transferring points to Accor and was successful?

Did two transfers recently.
One on 22nd, another on 23rd.

Both got credited in less than 24 hours.

 

[SM24]

When we apply for M4B Add-on card are they just sending the Credit Card. What about the Priority Pass?

Priority Pass too.

*Edit*
I meant for the Primary Card Holder. I missed 'Add on' !

 

[MilesMax]

I think it's a function of how you were maintaining the TRV. I had just kept balance in the saving account. A week or so after getting upgraded I brought the balance down to 10 L. And have today brought it down to about 5, as there were weeks where I maintained it above 30 so the AQB would still remain above 10.

My guess is it should be Okay. They have said they would check once in 6 months. I intend to keep AQB of 10 L every calendar quarter but not on a daily and monthly basis.

Its a guess still. One can't be sure with Axis. My December month OGS would show a lower than 10L AMB so there is always a risk. But beyond a point, one can't dance to Axis's lunatic tune on a daily basis. I guess had spent too much effort in getting this card so wanted to see it through. Have all intentions of meeting the AQB. If it still gets cancelled, so be it. Will take my business elsewhere

Same here. All in savings just for the sake of M4B.
Now that the upgrade is done, I am thinking of just keeping 10L and moving the rest.
I'll probably keep it till this month end and then move it next month.

 

[hello11]

Priority Pass too.

I thought add ons don’t get priority pass for magnus. Has this changed?

 

[H2O]

For Burgundy salary account it should be >3 lakhs per month

It's different for different companies, for my company it's >=2L PM.

 

[saketreddy]

I transferred around 81k points to Accor yesterday and today Axis refunded back those points and cancelled the transfer. Is there anyone else who tried transferring points to Accor and was successful?

Around 2.2L points successfully transferred.

 

[SM24]

I thought add ons don’t get priority pass for magnus. Has this changed?

I'm sorry I misread it.

I meant, the Priority Pass is arriving with M4B for the Primary Card holder.

 

[sumit_yadav]

I'm sorry I misread it.

I meant, the Priority Pass is arriving with M4B for the Primary Card holder.

I already sent an email to Premium experience about PP not received lol.
I guess we use priority Pass guess access for family.

 

[Avijeet]

Anybody manage to transfer the last milestone of 25K points @ 5:4 ratio?

if yes, please enlighten me.

 

[Ankur dhanda]

Anybody manage to transfer the last milestone of 25K points @ 5:4 ratio?

if yes, please enlighten me.

Transfer before activation of MB, usually 5:4 activated around date of delivery of card. First transfer out points and then activate new card. I received card a couple days before, transferred out all the points first around 75K. Now will activate the MB card.

 

[SM24]

I’ve almost emptied my puraana balance.

I’m wondering if I even need the card now😁.

I wanted the card for 5:4 for the balance I had.

Now other than TE for air tickets I don’t see a real reason to hold on to the card.
Though TE is a good enough reason to keep the card.

 

[Viper1057]

I’ve almost emptied my puraana balance.

I’m wondering if I even need the card now😁.

I wanted the card for 5:4 for the balance I had.

Now other than TE for air tickets I don’t see a real reason to hold on to the card.
Though TE is a good enough reason to keep the card.

Haha I have a trip in February so holding till then, will close after that. Already got Infinia upgrade today 🤪

HDFC Limit Enhancement - Nov 23

Just Received an email for Limit Enhancement for my HDFC Millennia.From 3.4 L to 4.4L :) Check yours too.

www.technofino.in

 

[SM24]

Haha I have a trip in February so holding till then, will close after that. Already got Infinia upgrade today 🤪

HDFC Limit Enhancement - Nov 23

Just Received an email for Limit Enhancement for my HDFC Millennia.From 3.4 L to 4.4L :) Check yours too.

www.technofino.in

You’ll start doing better quality trips now.

If you know what I mean? 😉

 

[palvannan]

Haha I have a trip in February so holding till then, will close after that. Already got Infinia upgrade today 🤪

HDFC Limit Enhancement - Nov 23

Just Received an email for Limit Enhancement for my HDFC Millennia.From 3.4 L to 4.4L :) Check yours too.

www.technofino.in

Maybe If you don't use the card for 6 months and they see no activity on Burgundy Magnus card , they will downgrade and give a paid Magnus instead , for not maintaining a True Burgundy High spending customer relationship with the bank 🤣

 

[rohitb]

Nothing is safe with Axis 🙂 . Iam planning to transfer post December.

Exactly. That is why I removed some amount for a few days and then added back when I realised again that I am dealing with axis.

 

[mastfun]

Finally I closed my card and all my relationships with Axis , moved my money to Kotak with 7% interest and they upgraded my Privy card to White LTF 🙃 Just holding Axis Airtel 😉

Reason for me not getting upgrade:
1. Opened Burgundy account online from Bank on 23rd Sep
2. Deposited 20L on 24th Sep
3. It took 30 days to show Burgundy privileges in App and Account ( I lost 30 days due to their mistake) DPRV and SPRV issue
4. Now they say I am not eligible as I didn't complete 60 days with 10L balance 🙂 😀

My RM was complete fraud and didn't respond to premium experience mails. Instead he kept pushing me to invest in Max Life.

I visited my branch and BM explained me whole story !! I asked him to respectfully close all my relationships.. He tried to make me stik with them for few more days which I rejected.

Finally he took my application to close all Relationships!!

 

[chasni]

has everyone activated the new card? I have transferred all points and don't expect any more points. So now it is safe to activate the new M4B card?

 

[rohitb]

But isnt keeping 10 lakh idle in Savings a scam because of just 3% interest. A FD gives 7.1

Yeah, 30L FD seems better than keeping 10L idle in Savings

Or keep 1cr+ in demat.

 

[mastfun]

One good thing is that I made a lot of friends in the process through TechnoFino !!