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

 

[Prav]

The offer got extended till 31st December

Any link message mail?

 

[palvannan]

Still, it won't help as I have 80 points.

Even adding 420 points is enough to reach 500 , by spending rs 7000 on new card

 

[sumit_yadav]

Any link message mail?

I saw it as a whatsapp status of a senior guy from axis credit card department. Posted the same

Axis Magnus - Rumor with burgundy axis magnus could be LTF (by Sep 2023 it should be official by axis i think you never know though)

Just received confirmation from bank officials that they will provide Magnus LTF for Burgundy customers from Sep 1st onwards

www.technofino.in

 

[Prav]

I saw it as a whatsapp status of a senior guy from axis credit card department. Posted the same

Axis Magnus - Rumor with burgundy axis magnus could be LTF (by Sep 2023 it should be official by axis i think you never know though)

Just received confirmation from bank officials that they will provide Magnus LTF for Burgundy customers from Sep 1st onwards

www.technofino.in

All rumours till now

 

[Rags]

Guys for Atlas card do we get any Dreamfolks card or we just need to show the QR code in the APP. I received my Atlas card but can't see any Dream folks card

Hi, why did you opt for Atlas when you have M4B? Question out of curiosity

 

[kapsshah42]

Even my RM told me its extended upto 31 Dec.They have got a whatsapp message

 

[shrekster]

Even my RM told me its extended upto 31 Dec.They have got a whatsapp message

Yes even my BM told me they've got an e-mail about the extension

 

[RupayMan]

Yes even my BM told me they've got an e-mail about the extension

Is this offer for axis employees or public customers? Why no one got this extension message instead only their employees alone? Again Axis is acting worst.

 

[sumit_yadav]

Is this offer for axis employees or public customers? Why no one got this extension message instead only their employees alone? Again Axis is acting worst.

Axis employees are receiving the email to spread the rumor 🤣

 

[mastfun]

Even my RM (ex) confirmed 🙂

 

[RupayMan]

Even my RM (ex) confirmed 🙂

Still getting same template mail from IsIs

 

[naren89]

Still getting same template mail from IsIs

official communication is awaited as per my RM

 

[RupayMan]

Got official update as it's extended, but again they are smoking something,

 

[palvannan]

Got official update as it's extended, but again they are smoking something,
View attachment 36318

Communication is not very clear whether the upgraded/new Burgundy Magnus card will be LTF or charged at rs 12500 for customers who are qualifying on the basis of AQB /TRV as on 31st Dec 2023 , though it says limited period offer is extended.

 

[kay]

Hi All,
My BM keeps on saying, card approval is pending with product team. what does that even mean? How much time that approval genrally takes?

 

[naren89]

Got official update as it's extended, but again they are smoking something,
View attachment 36318

As per this it is extended till Jan'24 for applying/qualifying for upgradation and period of evaluation of burgundy criteria is till Dec'23

 

[K.R]

Hi, why did you opt for Atlas when you have M4B? Question out of curiosity

Guest Access for my son in International Lounges. The card is free considering the renewal benefits. 2500 Edge Miles on renewal considering I do not use the card at all which is equal to 5000 Kris Miles which is equal 5000-7000 Rs while renewal fess is 5000 + GST. Plus tomorrow if I plan to close my Magnus for some reason, I will continue with Atlas

 

[jchandra49]

Hi, currently I have axis magus, if I deposit 10 lakh in axis savings account now, when can I expect my account to be upgraded to Burgundy and when can I expect my the upgrade to Magnus Burgundy practically

 

[sahilgulati5]

Hi, currently I have axis magus, if I deposit 10 lakh in axis savings account now, when can I expect my account to be upgraded to Burgundy and when can I expect my the upgrade to Magnus Burgundy practically

approx 3 months after u deposit

 

[hs23]

Got official update as it's extended, but again they are smoking something,
View attachment 36318

Anyone from Mumbai here? Some one please DM me Axis RM contact details. Thank you.