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

 

[Harry1]

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.

I did get AEP for combined spends on both cards in September month.

 

[hello11]

I did get AEP for combined spends on both cards in September month.

Great, so they combine it.. Thanks!

 

[Avijeet]

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.

I am confident that ... even Amitabh Chaudhry can't answer that...

 

[Rags]

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.

I'm in the same situation. Like you, I'm combining things quarterly. I've noticed in this forum that many people have been waiting for the M4B upgrade for months without meeting the salary criteria, but they claim they qualified for accelerated rewards in the last two months. I just want to know their secret 🙂 🙂

 

[Harry1]

I'm in the same situation. Like you, I'm combining things quarterly. I've noticed in this forum that many people have been waiting for the M4B upgrade for months without meeting the salary criteria, but they claim they qualified for accelerated rewards in the last two months. I just want to know their secret 🙂 🙂

Old magnus card also eligible for 1.5L+ AEP points.

 

[kapsshah42]

Spoke to premium experience team.The details provided by them are even if you have 10L and above balance from sept to nov, you wont be eligible as they consider it quaterly so you need to do it from Oct to Dec and call in Jan for upgrade.Additionally this free magnus burgundy will be provided once we call in Jan and till we maintain the avg balance.I told them to send in writing which they said they will.Will this be true?

 

[Rags]

Old magnus card also eligible for 1.5L+ AEP points.

Agree, the question is how are they able to sepnd and get AEP with monthly incomes around <3lacs. interested in knowing any ethical tricks. 🙂

 

[K.R]

I'm in the same situation. Like you, I'm combining things quarterly. I've noticed in this forum that many people have been waiting for the M4B upgrade for months without meeting the salary criteria, but they claim they qualified for accelerated rewards in the last two months. I just want to know their secret 🙂 🙂

Sir secret is you use your credit card for office expenses. Like Client parties etc and it's just not personal expenses
And even for parties with friends where its a dutch, I use the card and they Gpay me 😎

 

[MilesMax]

Spoke to premium experience team.The details provided by them are even if you have 10L and above balance from sept to nov, you wont be eligible as they consider it quaterly so you need to do it from Oct to Dec and call in Jan for upgrade.Additionally this free magnus burgundy will be provided once we call in Jan and till we maintain the avg balance.I told them to send in writing which they said they will.Will this be true?

Free is unlikely. You can get paid one though. If you get it in the email stating that it would be LTF then you are in luck.

 

[kapsshah42]

As per what the premium team says they consider AQB for every quarter so they wont consider Sept/Oct/Nov.Only Oct to Dec will be considered.Is that true?

 

[mastfun]

As per what the premium team says they consider AQB for every quarter so they wont consider Sept/Oct/Nov.Only Oct to Dec will be considered.Is that true?

All made up stories 🙂

 

[naren89]

any update if Nov 30 offer will be extended?

 

[kapsshah42]

All made up stories 🙂

I have it writing from them about it

 

[Rags]

Sir secret is you use your credit card for office expenses. Like Client parties etc and it's just not personal expenses
And even for parties with friends where its a dutch, I use the card and they Gpay me 😎

Thanks, makes sense if you have no obligation to use only corporate card for office expenses 🙂

 

[palvannan]

I'm in the same situation. Like you, I'm combining things quarterly. I've noticed in this forum that many people have been waiting for the M4B upgrade for months without meeting the salary criteria, but they claim they qualified for accelerated rewards in the last two months. I just want to know their secret 🙂 🙂

People may have salary account with other banks ( and spouse may also be earning well) but would have applied for Burgundy Magnus only on the basis of AQB or fixed deposits as TRV . One trick to legitimately exceed 1.5 lakhs spends in a month is to fully use Rental amount of 50k per month ( through RedGiraffe/payzapp ) and pay insurance amount every month ( say around 50 to 60k ) and also include some educational expenses on the credit card and then all your other regular purchases will manage to get some AEPs, at least once or twice a quarter. Burgundy Magnus is of not much use ( other than Travel edge/Gyftr) , if you don't get to spend more than 2 lakhs in a month , every now and then. Like purchasing a Car on credit card !

 

[palvannan]

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.

But don't delay the activation of new Burgundy Magnus card to the end of 30 day limit and also be aware that the 30 days period ( deadline to activate ) starts from card issuance date and not from the date of receiving the card. Yes the spends on old card and new magnus card will be combined for calculating AEP benefits in a month , but I would suggest that you activate the new Burgundy Magnus card asap, but don't use it for any new spends ( so that BM bucket remains at zero balance) and keep using old card till the old Magnus card gets deactivated automatically at the end of 45 days (after upgrade date) . And transfer all the ER points to mikes partners periodically at 5:4 till then. I have activated new magnus LTF card last week but continue to get 5:4 for points conversion ratio , for normal ER points also that too earned for Burgundy debit cards , bank transfers and old Magnus card spends !

 

[Rags]

People may have salary account with other banks ( and spouse may also be earning well) but would have applied for Burgundy Magnus only on the basis of AQB or fixed deposits as TRV . One trick to legitimately exceed 1.5 lakhs spends in a month is to fully use Rental amount of 50k per month ( through RedGiraffe/payzapp ) and pay insurance amount every month ( say around 50 to 60k ) and also include some educational expenses on the credit card and then all your other regular purchases will manage to get some AEPs, at least once or twice a quarter. Burgundy Magnus is of not much use ( other than Travel edge/Gyftr) , if you don't get to spend more than 2 lakhs in a month , every now and then. Like purchasing a Car on credit card !

The concern is insurance spends are excluded from AEP. I agree getting into AEP once a qtr is possible, but not 2 or 3 months a qtr in normal situation.

 

[SS33]

August GYFTR points added. Its now time to activate 🙂

 

[Rohit1991]

But don't delay the activation of new Burgundy Magnus card to the end of 30 day limit and also be aware that the 30 days period ( deadline to activate ) starts from card issuance date and not from the date of receiving the card. Yes the spends on old card and new magnus card will be combined for calculating AEP benefits in a month , but I would suggest that you activate the new Burgundy Magnus card asap, but don't use it for any new spends ( so that BM bucket remains at zero balance) and keep using old card till the old Magnus card gets deactivated automatically at the end of 45 days (after upgrade date) . And transfer all the ER points to mikes partners periodically at 5:4 till then. I have activated new magnus LTF card last week but continue to get 5:4 for points conversion ratio , for normal ER points also that too earned for Burgundy debit cards , bank transfers and old Magnus card spends !

Hi,
Quick question - the old magnus Burgundy card remains active after activation of MB card? Asking since I don't see the old magnus card in Axis Portal at my end.

 

[mastfun]

I have it writing from them about it

I have written mail that I am eligible for ltf upgrade and even with that I am not getting an update 😐