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

 

[palvannan]

It's 112, the previous was 132 I got some ER credited from my travels and I transferred immediately. So is the trick to make it zero? I hope I can Axis can help and minus the 112 points to make it zero. With the balance of 112 it is impossible to get to 300 or multiples of 300.

The trick is to keep the balance points always in multiples of 12. So when you do a transfer always try do it in multiples of 300. For example if the balance was 528 , then you should do a transfer for 300 only and not 400 or 500 points , so that the balance ( 228) is also remains in multiples of 12.

 

[SM24]

I am also using payzap to pay hdfc credit card bills for one month , using Burgundy debit card and getting 1% ER points , which can be converted using 5:2 ratio to Airlines partners 👍

Thanks for this enlightenment 🙂

The bill gets paid how quickly via this route please ?

 

[palvannan]

Thanks for this enlightenment 🙂

The bill gets paid how quickly via this route please ?

Yes mostly in 3 or 4 days . Though it failed first time in October and I raised a ticket for the same . After that I made 3 payments and all went through in around 3 days time.

 

[palvannan]

It's 112, the previous was 132 I got some ER credited from my travels and I transferred immediately. So is the trick to make it zero? I hope I can Axis can help and minus the 112 points to make it zero. With the balance of 112 it is impossible to get to 300 or multiples of 300.

So you must have got additional 2280 points to your earlier 132 points for a balance of 2412 . But you transferred 2300 instead of 2400 ??

 

[SM24]

Yes mostly in 3 or 4 days . Though it failed first time in October and I raised a ticket for the same . After that I made 3 payments and all went through in around 3 days time.

Thanks.

Time between ticket raising and resolution > credit please?

 

[palvannan]

Thanks.

Time between ticket raising and resolution > credit please?

They asked me first to wait for 4 days ( standard wait time for them before they take action) as the message was showing transaction in progress. But they did respond immediately within a day for ticket updating status . But after that immediately they refunded the amount ( may be 5 days from transaction date) . Also I got ER points from Axis Burgundy card for the failed transaction , as money was deducted. Points not reversed so far though amount got returned !

 

[palvannan]

Thanks.

Time between ticket raising and resolution > credit please?

Do a small amount as test transfer before using it for regular payments

 

[rishabk27775]

Bro from where you heard that they are working on new button? And when it will be implemented.

@palvannan bro please reply this.

 

[palvannan]

Bro from where you heard that they are working on new button? And when it will be implemented.

From another friend who raised this issue with them. I think they are saying it is a (transitional ) feature to enable old Magnus points to be transferred at 5:4 ( as per promise in FAQ) till the milestone and AEP points for old card are credited . But this feature is badly needed any way , as we cannot decide from which bucket to tranfer . If many of us raise it as a serious issue by escalating , they will surely implement it soon.

 

[palvannan]

Attached is the mail from PE about redemption process for old ER points

 

[rishabk27775]

Attached is the mail from PE about redemption process for old ER points

Great This Mail Makes Sense.

 

[Arctictern]

Attached is the mail from PE about redemption process for old ER points

Unfortunately once you transfer magnus points you can there after transfer ER. But once you get points back to ER due to milestone or bonus then you cannot transfer magnus. That's the loop I am stuck in.

 

[readers900]

I see no point in making Edge Rewards to 0. As burgundy customers we get ER for even receiving money in bank account in excess of 1 lac (100 ER).......which I think most of us will receive somewhere down the line.

Also we receive 2ER/200 if in case we happen to pay using burgundy debit card......like credit card bills through payzapp etc.

There are many more ways we might end up earning ER. Complete list here - https://www.axisbank.com/axis-edge-rewards/burgundy

 

[MilesMax]

I see no point in making Edge Rewards to 0. As burgundy customers we get ER for even receiving money in bank account in excess of 1 lac (100 ER).......which I think most of us will receive somewhere down the line.

Also we receive 2ER/200 if in case we happen to pay using burgundy debit card......like credit card bills through payzapp etc.

Also all Grabdeals, Gyftr, traveledge etc will give you accelerated ERs not MB. So this cycle of emptying buckets will continue for a very long time.

 

[palvannan]

I see no point in making Edge Rewards to 0. As burgundy customers we get ER for even receiving money in bank account in excess of 1 lac (100 ER).......which I think most of us will receive somewhere down the line.

Also we receive 2ER/200 if in case we happen to pay using burgundy debit card......like credit card bills through payzapp etc.

There are many more ways we might end up earning ER. Complete list here - https://www.axisbank.com/axis-edge-rewards/burgundy

I think they will soon give the option of selecting which bucket source to use for transfer and ratio for transfer will vary. But our ideas for trying to keep the MB balance zero ( and not normal ER bucket) with so much trouble , is to enable us in getting 5:4 ratio for all other ER points also ( other than old magnus spends ) , earned using debit card/bank transfer /Select credit card etc. Otherwise you will be getting only 5:2 or 5:1 , depending on the highest banking/card relationship you hold , for those Edge Reward points.

 

[palvannan]

I

Also all Grabdeals, Gyftr, traveledge etc will give you accelerated ERs not MB. So this cycle of emptying buckets will continue for a very long time.

I think , If you use Magnus Burgundy card for those spends , all of those edge points will go into MB bucket only.

 

[Rags]

I am also using payzap to pay hdfc credit card bills for one month , using Burgundy debit card and getting 1% ER points , which can be converted using 5:2 ratio to Airlines partners 👍

Any monthly cap?

 

[palvannan]

It's 112, the previous was 132 I got some ER credited from my travels and I transferred immediately. So is the trick to make it zero? I hope I can Axis can help and minus the 112 points to make it zero. With the balance of 112 it is impossible to get to 300 or multiples of 300.

If I tell you an easy to do method to achieve MB zero balance, by not spending too much amount of money but only time , how many CV points will you transfer to me 😅

 

[palvannan]

Any monthly cap?

No monthly limits

 

[MilesMax]

I
I think , If you use Magnus Burgundy card for those spends , all of those edge points will go into MB bucket only.

Unlikely. AEP is still ERs.
Traveledge accelerated spends are still ERs