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

 

[SteelSh0t]

Accelerated Edge points for transactions done using new magnus card issued in October, will be posted only after 15th of December in the BM bucket directly. But AEPs for old Magnus card will be posted in normal ER buckets only. But u can transfer them at 5:4 as long as the BM bucket remains zero ! But there is a small trick ( not a hack) to make it zero , if you have got points in Magnus bucket already and not able to transfer the older / previous ER points because of that .

What is the trick to convert at 5:4 after BM bucket is no longer 0?

 

[psgvivek]

Got upgraded to Magnus Burgundy. I got a message that card has been dispatched. However, I don't see 5:4 conversion or any buckets.
I still see 5:2 in Traveledge if I tried to convert. When will I see 5:4 ? Is it automatic or should we call them and request it ?

 

[UKJ]

I just spoke to csr team again.

Yes, your account is Salary Burgundy.

Yes, we can see that 3 salary payments have been credited, amounts over 3 lacs.

Yes, we can see name of employer in the narration. No need to send payslip.

Yes, your 2 OGS statements show the salary receipts.

Yes, you meet the upgrade criteria.

But sorry, the magnua upgrade team states that you are not eligible. They have not assigned any reason.

And no, we cannot do anything about it other than communicate this to you.

Yes, we realize that only 2 days are left for the upgrade. We regret the inconvenience being caused to you due to this.

I had spoken to my RM who just called me back to say that reason for rejection given to him is my not meeting the 10 lacs balance requirement in a Salary Burgundy account. Even he is at a loss to explain this.

 

[hello11]

Got upgraded to Magnus Burgundy. I got a message that card has been dispatched. However, I don't see 5:4 conversion or any buckets.
I still see 5:2 in Traveledge if I tried to convert. When will I see 5:4 ? Is it automatic or should we call them and request it ?

It should be automatic - wait till you see a new "Magnus Burgundy" section in your points section with 0 balance. 5:4 will work after this appears

 

[rdargar]

Accelerated Edge points for transactions done using new magnus card issued in October, will be posted only after 15th of December in the BM bucket directly. But AEPs for old Magnus card will be posted in normal ER buckets only. But u can transfer them at 5:4 as long as the BM bucket remains zero ! But there is a small trick ( not a hack) to make it zero , if you have got points in Magnus bucket already and not able to transfer the older / previous ER points because of that .

Kindly DM me the trick please

 

[palvannan]

Kindly DM me the trick please

Do you want the cryptic communication from PE team and work it out yourself ? Or if many of you want a step-by-step guide to make the BM bucket zero , then I will post my invention (though not patented yet) but it may not work for all people and for all scenarios 😂

 

[Rags]

No Accelerated Reward points for insurance txns on Magnus for Burgundy. Confirmed on mail. Please find the screenshot here.

 

[CardsHoarder]

How many days does it take to upgrade to Burgundy account?

 

[Rags]

No. Not able to transfer also.

I got an email from Axis to contact Traveledge 02268553000 and get the needful done. I tried, and fortunately, it's getting done.

 

[Rags]

Hi, i have never used grabdeals on Axis. any thoughts on why we should use and benefits of using it?

 

[palvannan]

No Accelerated Reward points for insurance txns on Magnus for Burgundy. Confirmed on mail. Please find the screenshot here.

Is it also removed from calculating eligible spends for determining spend amount above 1.5 lakhs for AEP ? If that's the case then the worksheet calculation they posted is wrong or they changed T&C for AEP subsequently. I was hoping to use quarterly insurance premium to build up the eligible spends in a particular month in a quarter , by combining all my spends. Please send the pdf file for AEP calculation and ask for a clarification, if possible.

 

[palvannan]

Hi, i have never used grabdeals on Axis. any thoughts on why we should use and benefits of using it?

Grab deals can be used to make credit card purchases ( after redirection from grabdeals site )using offers from platforms like Flipkart , Amazon etc and get 2x or 3x or 5x reward points (or CB ) , instead of buying vouchers from gytr and using it on Amazon /Flipkart etc. Though there is a cap of 5000 ER points or Rs 1000 cashback per month.

GRAB DEALS

grabdeals.axisbank.com

 

[sahilgulati5]

I'm still not eligible for Burgundy Magnus Card.. Heart Breaking that i will miss LTF!!!

 

[jonamdhar]

You upgraded your old magnus or applied via fresh application?

It was a fresh card. I didn't have Magnus earlier.

 

[jonamdhar]

Did you receive in a mail? When did you get upgraded?

Yes received the mail. Thus was new card and not an upgrade from old Magnus. I don't think welcome benefit is applicable for upgrade.

You can check on this website.

Axis Magnus benefits | In association with Thriwe

Axis Magnus benefits | In association with Thriwe

axismagnusbenefits.thriwe.com

 

[jonamdhar]

Can you please share the link to claim welcome voucher

The Vouchers were available on this link.

Axis Magnus benefits | In association with Thriwe

Axis Magnus benefits | In association with Thriwe

axismagnusbenefits.thriwe.com

 

[rdargar]

Do you want the cryptic communication from PE team and work it out yourself ? Or if many of you want a step-by-step guide to make the BM bucket zero , then I will post my invention (though not patented yet) but it may not work for all people and for all scenarios 😂

If you can manage time steps will be always appreciated , if occupied we will try to decode the PE team mail

 

[Harry1]

Anyone got grab deals cashback for credit card transaction for August month?

I received just now for debit card, but not for credit card.

Edit: Credited now.

 

[palvannan]

If you can manage time steps will be always appreciated , if occupied we will try to decode the PE team mail

The problem (of not being able to use existing ER points for transfer) occurs when the balance points in MB bucket is not in exact multiples of 100 and hence cannot be made zero by normal transfer to partners . As the ER transfer can be done only in multiples of 100 , our goal is to first make the MB balance exactly to 300 ( or in multiples of 100 above that figure).

 

[palvannan]

Step-by-step procedure to make MB balance to zero:
This process is a little Time wait exercise and may take any where between 7 days to 15 days ( or even more in some cases).
1. Wait for the pending ERs to be credited and don't do any fresh transaction through MB card. ER points take about 7 to 15 days to get credited into Edge Rewards balance.
2. Once all the balance points for transactions done in the past have been credited , make an almost full transfer ( in multiples of 300) that is possible, so that the balance points goes below 300 , but remains above 100 if possible. And make sure balance points in MB bucket ( after doing the transfer) would be in multiples of 12 .
3. At this point You need to make an exact additional purchase through Burgundy Magnus card so that the extra ER points earned through this particular transaction will make the MB balance in multiples of 100 after about a week or two.
For example if the balance in MB bucket is 108 , then you need to make an additional purchase for exactly rs 3200 so that you get 192 new ER points and the MB balance will become 300 after new ER is credited into MB bucket in about 7 days in most cases. And don't do any further transaction till this new points is credited.
(192*200÷12= 3200) is the formula to arrive at the exact new purchase amount.
4. Once it becomes 300 points do an immediate transfer of 300 points so that MB bucket becomes zero .
This method may not work for people who are getting ER points jump from Atlas Miles pool or from ER bucket automatically to BM bucket without doing anything when the points go below 100.