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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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rohitb said:
I used my new number after being moved to silver and both transfers i made , failed. Let me try using this trick.
Click to expand...
Another funny thing . I got my points back , but they are getting added in edge miles. I don't even have atlas.

So now I have points in all three pools, edge points, edge miles, burgundy points. I think mail to axis is required , and I thought I am done post m4B upgrade.
 
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rohitb said:
Another funny thing . I got my points back , but they are getting added in edge miles. I don't even have atlas.

So now I have points in all three pools, edge points, edge miles, burgundy points. I think mail to axis is required , and I thought I am done post m4B upgrade.
Click to expand...
So you used normal Edge points and got Edge miles instead? I see that as a 2x increase in returns 🤣 🤣 🤣 🤣
 
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jchandra49 said:
I know that we will not get any points on magnus for paying education fees, is it possible to get the points if we pay the education fees for MS in US(in dollars). Any idea on this
Click to expand...
One person earlier did one transaction in foreign currency and it had rent mcc. He got charged 1%+gst for that, but no reward points and no forex charges. This was on magnus.

I did one transaction on government mcc in foreign currency. Got charged forex charges and no reward points. This was on Infinia.
 
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jchandra49 said:
I know that we will not get any points on magnus for paying education fees, is it possible to get the points if we pay the education fees for MS in US(in dollars). Any idea on this
Click to expand...
Turn off the all transactions and do the transaction. Get the MCC code for the failed transaction from customer care and share it here.
 
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UKJ said:
I have 3 months salary credit and 2 OGS but Axis still say that I am not eligible for the upgrade.

If others have received upgrade then maybe could advise how they achieved it? All my efforts have failed.
Click to expand...
Whats your account scheme code? check account details. If it does NOT end in 'S', then its not a salary account
 
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UKJ said:
I have 3 months salary credit and 2 OGS but Axis still say that I am not eligible for the upgrade.

If others have received upgrade then maybe could advise how they achieved it? All my efforts have failed.
Click to expand...
Yeah..I received the Magnus card based on Salary with just 1 OGS.

Check if you account code is "SBPRS" (Burgundy Salary Account).

And also ask for the rejection reason. I heard for some companies they are insisting on having Sal/Salary mentioned in the salary credit transaction. If this is the reason, you can send them the payslips as an additional proof for the salary credits.
 
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jonamdhar said:
Yeah..I received the Magnus card based on Salary with just 1 OGS.

Check if you account code is "SBPRS" (Burgundy Salary Account).

And also ask for the rejection reason. I heard for some companies they are insisting on having Sal/Salary mentioned in the salary credit transaction. If this is the reason, you can send them the payslips as an additional proof for the salary credits.
Click to expand...
Yes, category code says SBPRS. Burgundy Salary.

I called several times and asked for reason for rejection. Even mailed several times to premium experiences. Every time the answer is same - "Burgundy team says you are not eligible". I offered to submit pay slip but they said it was not required.

I have 3 lacs points stuck with them else I would have given up a long time ago.
 
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I am curious about how people with salaries under 3 lakhs manage to spend over 2 lakhs and get accelerated rewards (excluding Insurance and Gyftr rentals of more than 50k/month). Any insights or shortcuts? Heard Axis blacklisted some business accounts. Thoughts? Managing over 1.5 lakhs once in a quarter itself is tough for me.
 
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Rags said:
I am curious about how people with salaries under 3 lakhs manage to spend over 2 lakhs and get accelerated rewards (excluding Insurance and Gyftr rentals of more than 50k/month). Any insights or shortcuts? Heard Axis blacklisted some business accounts. Thoughts? Managing over 1.5 lakhs once in a quarter itself is tough for me.
Click to expand...
I am try to consolidate spends in one month for every three or four month . Only very few people can spend more than 1.5 lakh every month unless they do the manufacturing spend.
 
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Anyone knows if spends on old Magnus and new Burgundy Magnus in the same calendar month will be added for accelerated rewards above 1.5 lakhs?
I'm waiting for some Gyftr extra ERs so have not activated my M4B yet - but I'm planning to cross 1.5L in December so wanted to check if I can start December spends on old Magnus and move to M4B after Gyftr credited (maybe by 20th Dec) and still cross 1.5L combined.
 
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