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

 

[Ramakgmc]

SBI aurum is also getting into miles transfer. ITC/Vistara and Air Asia have started.
What is the yield? Does it stand a chance if M4B and Infinia are not possible?

 

[sumit_yadav]

Guest Access for my son in International Lounges.

Don't you get that with Magnus too? 8 International Guest visits

 

[jab]

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

The best bet would be to calculate how much is needed to make the AQB to 10 Laks (Oct-Nov-Dec) and deposit that amount. I was in your similar Situation had an axis bank relation from sept, and upgraded to Burgundy in Nov, and deposited the amount to make Sept-Oct-Nov AQB to 10 lakhs, It was still risky due to OGS, But now since the offer is extended to Dec, RM is confident it will get approved. Crossing my Fingers.

 

[RupayMan]

The best bet would be to calculate how much is needed to make the AQB to 10 Laks (Oct-Nov-Dec) and deposit that amount. I was in your similar Situation had an axis bank relation from sept, and upgraded to Burgundy in Nov, and deposited the amount to make Sept-Oct-Nov AQB to 10 lakhs, It was still risky due to OGS, But now since the offer is extended to Dec, RM is confident it will get approved. Crossing my Fingers.

First thing, AQB months are calendar quarters, not the last 3 months, current quarter is Oct, nov, dec. One should have AQB qualified in this month's to be eligible, whatever money from September month will not be considered.

 

[shrekster]

First thing, AQB months are calendar quarters, not the last 3 months, current quarter is Oct, nov, dec. One should have AQB qualified in this month's to be eligible, whatever money from September month will not be considered.

and what would it be in the case of TRV ? just 45 days cooling period or any other requirement?

 

[jab]

First thing, AQB months are calendar quarters, not the last 3 months, current quarter is Oct, nov, dec. One should have AQB qualified in this month's to be eligible, whatever money from September month will not be considered.

Thanks, even though they did not mention it at that time , I am All set for December AQB, as per the banks quarter calculations for now

 

[RupayMan]

and what would it be in the case of TRV ? just 45 days cooling period or any other requirement?

TRV have no restrictions I guess, 30L TRV is already working for many, only AQB customers are facing lot of issues.

 

[palvannan]

and what would it be in the case of TRV ? just 45 days cooling period or any other requirement?

For TRV also you should make sure 30 lakhs (FD or SB ) is there for the whole month to meet the TRV qualification criteria. For example if you keep 30 lakhs FD for only 15 days till the end of the month , then they may consider it as TRV of 15 lakhs and not 30 lakhs , just like the calculation for Average Monthly balance. Hence if you want to qualify this month based on new accounts ( in Nov/December) using TRV criteria then you should keep more than 30 lakhs ( SB or FD) at the earliest, calculating the exact amount required to be deposited by doing the calculation yourself for estimating AMB , based on adding up the end of day balance in your account for each day in the month ( estimated) and then dividing it by the number of days in the full month. And that average should be should be more than 30 Lakhs for meeting TRV criteria !

 

[palvannan]

If you have both SB and FD then you should calculate average monthly balance for SB and FD balances seperately and add it up to see if it meets the 30 L criteria for TRV

 

[shrekster]

TRV have no restrictions I guess, 30L TRV is already working for many, only AQB customers are facing lot of issues.

unfortunately not working in this case and they're not able to answer why

For TRV also you should make sure 30 lakhs (FD or SB ) is there for the whole month to meet the TRV qualification criteria. For example if you keep 30 lakhs FD for only 15 days till the end of the month , then they may consider it as TRV of 15 lakhs and not 30 lakhs , just like the calculation for Average Monthly balance. Hence if you want to qualify this month based on new accounts ( in Nov/December) using TRV criteria then you should keep more than 30 lakhs ( SB or FD) at the earliest, calculating the exact amount by doing the calculation yourself for estimating AMB , based on adding up the end of day balance in your account for each day in the month ( estimated) and then dividing it by the number of days in the full month. And that average should be should be more than 30 Lakhs for meeting TRV criteria !

basis this, i should be already eligible, will wait for OGS and check further

 

[palvannan]

If you meet the 30L TRV criteria for two consecutive month OGS, then there is no further 45 days waiting period , i think. But I am not sure about meeting TRV criteria and waiting period , based on only one month OGS You can write to them and ask them to clarify this point about waiting period .

 

[Rags]

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

Are you referring to 2 to 6 points on "Also we receive 2ER/200 if in case we happen to pay using burgundy debit card......like credit card bills through payzapp etc."? Can you share me more details and Does M4B gets 5:$ ration here on CC payments?

 

[palvannan]

Are you referring to 2 to 6 points on "Also we receive 2ER/200 if in case we happen to pay using burgundy debit card......like credit card bills through payzapp etc."? Can you share me more details and Does M4B gets 5:$ ration here on CC payments?

You can't pay credit card bills of one bank by using credit card of another bank. The only option which gets you ER points through payzapp is to pay credit card bills ( of hdfc/axis etc) through Burgundy debit card and get 1% ER points . These ER can be converted 5:4 only as long as BM balance is zero , but may become 5:2 soon . I haven't tried paying Axis credit card bills using Burgundy Debit card ( in payzapp ), but if it works it will help you get additional ER points , once you have exhausted cashback of rs 750 for paying Axis credit card bills through hdfc bill pay system ( using hdfc platinum debit card only). Paytm also allows credit card bill payment through all debit cards except Burgundy debit card !

 

[Virgo]

You can't pay credit card bills of one bank by using credit card of another bank. The only option which gets you ER points through payzapp is to pay credit card bills ( of hdfc/axis etc) through Burgundy debit card and get 1% ER points . These ER can be converted 5:4 only as long as BM balance is zero , but may become 5:2 soon . I haven't tried paying Axis credit card bills using Burgundy Debit card ( in payzapp ), but if it works it will help you get additional ER points , once you have exhausted cashback of rs 750 for paying Axis credit card bills through hdfc bill pay system ( using hdfc platinum debit card only). Paytm also allows credit card bill payment through all debit cards except Burgundy debit card !

You can pay all credit card bills (including Axis credit cards) on Payzapp using Burgundy debit card. Also, Paytm allows credit card payments only using Visa debit cards. Since Axis debit cards are on MasterCard network, so cant be used on Paytm

 

[naren89]

You can't pay credit card bills of one bank by using credit card of another bank. The only option which gets you ER points through payzapp is to pay credit card bills ( of hdfc/axis etc) through Burgundy debit card and get 1% ER points . These ER can be converted 5:4 only as long as BM balance is zero , but may become 5:2 soon . I haven't tried paying Axis credit card bills using Burgundy Debit card ( in payzapp ), but if it works it will help you get additional ER points , once you have exhausted cashback of rs 750 for paying Axis credit card bills through hdfc bill pay system ( using hdfc platinum debit card only). Paytm also allows credit card bill payment through all debit cards except Burgundy debit card !

How much time does it take to credit to the credit card accpunt from payzapp after payment through debit card

 

[palvannan]

You can pay all credit card bills (including Axis credit cards) using Burgundy credit card. Also, Paytm allows credit card payments only using Visa debit cards. Since Axis debit cards are on MasterCard network, so cant be used on Paytm

Through which platform or billdesk you can pay HDFC/ Axis credit card bill through Burgundy Magnus credit card ? Have you actually paid credit card bills through another credit card ? I thought you can do only credit card balance transfer to another bank is possible, but that comes with charges.

 

[Virgo]

Through which platform or billdesk you can pay HDFC/ Axis credit card bill through Burgundy Magnus credit card ? Have you actually paid credit card bills through another credit card ? I thought you can do only credit card balance transfer to another bank is possible, but that comes with charges.

Sorry for the confusion I created. Guess was still half asleep while posting 🙈

Have edited my post now. I meant to say Burgundy debit card.

 

[palvannan]

How much time does it take to credit to the credit card accpunt from payzapp after payment through debit card

3 to 4 days maximum. I actually paid just now credit card bill of Axis Vistara card using Burgundy debit card on payzapp successfully. So this will be a nice added option to earn extra ER points , after making full use of hdfc billdesk cashback using hdfc platinum debit card (for paying Axis credit card bills or other bank credit card bills) !

 

[palvannan]

Sorry for the confusion I created. Guess was still half asleep while posting 🙈

Have edited my post now. I meant to say Burgundy debit card.

Have you got any reply about getting AEP for making insurance policy payment in excess of rs 1.5 lakhs in a month ? Will the entire insurance payment be excluded from AEP calculation, contrary to the illustration used in their FAQ and also as per your experience?

 

[palvannan]

Is anyone able to add Axis Magnus Burgundy Credit card to Gpay payment method (P2M payments) ? It seems the Master card version of Axis cards can't be added to Google pay as it doesn't support tap-to-pay method . I have raised an issue with axis bank on this issue a week back . Axis Visa cards get added to Gpay , but not the Master card versions