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

 

[Virgo]

I got a confirmation from another person that the cap of 6000 ER points for insurance through Magnus card is on per transaction basis .That means you can pay for multiple policies in a month making seperate credit card transactions for each payment and get ER for each transaction ( upto 6000 ER ). Hence paying a big insurance amount ( for a single policy) in a single swipe is not going to get you base ER points beyond 6000. However if such big spends do get AEPs , then it will be very interesting investment. Anyone got AEP for making insurance payments for more than 1.5 lakhs in a month using Magnus card recently ?

Replying to your different posts in one go. All 3 policies of mine are due on monthly basis and have premiums of ~99k each. I get base reward points of ~6k for each premium payment. So my monthly spends definitely breach the 1.5 lakh threshold. Let’s see the how the customer care responds to my complaint for AEP. For now they have raised a ticket to look into the problem.

 

[Prav]

Axis allowing amazon vouchers purchase from another gift edge account,
Can we buy more than 20k?

 

[rdargar]

Those who received Acclrtd ER for M4B in normal ER bucket , has Axis converted them to M4B Bucket?

 

[Dreamer]

Those who received Acclrtd ER for M4B in normal ER bucket , has Axis converted them to M4B Bucket?

No. Not able to transfer also.

 

[rdargar]

No. Not able to transfer also.

So they played a trick under the curtains

 

[jonamdhar]

Received the link for the Rs. 5000 voucher welcome gift for M4B.
Welcome benefit for a LTF card is a nice icing on the cake.

 

[Prav]

if i change number linked to magnus card
Do i need to create new gift edge account with that number
Or use existing account
Or get number changed in existing account


And
If a make a transaction from any random gift edge account from magnus cc will accelerated points be credited

Please help

 

[golu]

Received the link for the Rs. 5000 voucher welcome gift for M4B.
Welcome benefit for a LTF card is a nice icing on the cake.

You upgraded your old magnus or applied via fresh application?

 

[Rags]

Thanks,

Attached the document for calculating accelerated Edge points from the eligible spends , which forms part of the FAQ for Burgundy Magnus card as well.

No it is eligible, if FAQ is to be believed. As per the info in the image , the full insurance payment paid using the M4B card every month gets base ER points ( upto 6000 ER points) . And the entire insurance payment paid ( for one policy) does seem to count towards the eligible spends in a month for calculating AEPs for spends done above 1.5 lakhs. If you look at the worksheet/image from the FAQ, you posted for calculating AEP for various spends , it shows spends of 30k +145k + 110k + 10k ( TE above 2 lakhs) + 150k ( insurance) + 50k ( rentals) have been added up to 4.95 lakhs as eligible spends and AEP calculated for 4.95 lakh - 1.5 lakhs i.e for 3.45 lakhs from the total eligible spends . Though there is a contradiction when they say base ER for insurance is only upto 1 lakhs but AEP considered for full amount of 1.5 lakhs paid !

3 lac insurance per month, WOWWWWWW. I think you should write an article on that to enlighten others.

Those who received Acclrtd ER for M4B in normal ER bucket , has Axis converted them to M4B Bucket?

No, they blacklisted my friends account and forfeited rewards in August

 

[Rags]

Received the link for the Rs. 5000 voucher welcome gift for M4B.
Welcome benefit for a LTF card is a nice icing on the cake.

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

 

[Rags]

if i change number linked to magnus card
Do i need to create new gift edge account with that number
Or use existing account
Or get number changed in existing account


And
If a make a transaction from any random gift edge account from magnus cc will accelerated points be credited

Please help

From Magnus regd mobile only, any shortcut will create a problem

 

[palvannan]

Those who received Acclrtd ER for M4B in normal ER bucket , has Axis converted them to M4B Bucket?

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 .

 

[palvannan]

Thanks,



3 lac insurance per month, WOWWWWWW. I think you should write an article on that to enlighten others.

Yes that was Virgo ( me not invested in insurance yet , though I am actively looking at that option after Virgo post) should enlighten how to make investment in multiple insurance policies so as to maximize ER points and also get maximum AEP in a month. Also he could clarify if he paid 2% transaction charges for the credit card payments and which insurer and bank payment gateway he used if it is zero additional charges for insurance premium through credit 👍

 

[SteelSh0t]

Received the link for the Rs. 5000 voucher welcome gift for M4B.
Welcome benefit for a LTF card is a nice icing on the cake.

Can you please share the link to claim welcome voucher

 

[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 😂