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]

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?

Not as yet. My SR is still open, Axis premium experience still has not responded. Since I am fighting for AEP for Sep itself, it’s still uncharted territory. No experience as yet on how Axis will treat insurance spends for AEP.

As I had mentioned in an earlier post also, I have received base points for all my insurance spends (which were all below 1 L each). It’s the AEP which I am fighting for.

 

[Virgo]

I posted this on separate thread of Axis Reserve devaluation but haven’t received any response so posting it here.

Since the devaluation announcement of its credit cards by Axis almost 5 months back, all the limelight and discussion on this forum has been centered around Magnus.

I would like to invite thoughts from other fellow Axis Reserve card holders. As background, I hold both Reserve and Magnus. I was able to swap my Magnus with Magnus Burgundy in October basis my banking relationship with Axis. There is no possibility for me to upgrade my relationship to Burgundy Private in near future.

Since 1st Sep, I have put all my spends on Magnus to get the benefits of accelerated ERP. I would like to check the strategy followed by other Reserve cardholders on this forum:

- Are you still using your Reserve card actively?
- What is your point redemption strategy for Reserve points?
- what is the conversion ratio you are getting? Are you able to convert points at 5:4 if you hold Magnus Burgundy?

Thanks

 

[purush]

I posted this on separate thread of Axis Reserve devaluation but haven’t received any response so posting it here.

Since the devaluation announcement of its credit cards by Axis almost 5 months back, all the limelight and discussion on this forum has been centered around Magnus.

I would like to invite thoughts from other fellow Axis Reserve card holders. As background, I hold both Reserve and Magnus. I was able to swap my Magnus with Magnus Burgundy in October basis my banking relationship with Axis. There is no possibility for me to upgrade my relationship to Burgundy Private in near future.

Since 1st Sep, I have put all my spends on Magnus to get the benefits of accelerated ERP. I would like to check the strategy followed by other Reserve cardholders on this forum:

- Are you still using your Reserve card actively?
- What is your point redemption strategy for Reserve points?
- what is the conversion ratio you are getting? Are you able to convert points at 5:4 if you hold Magnus Burgundy?

Thanks

I started to stop using reserve card as of now. Conversation ratio is not clear yet right now. Yes u r right, almost every one forgot reserve card

 

[Rags]

I posted this on separate thread of Axis Reserve devaluation but haven’t received any response so posting it here.

Since the devaluation announcement of its credit cards by Axis almost 5 months back, all the limelight and discussion on this forum has been centered around Magnus.

I would like to invite thoughts from other fellow Axis Reserve card holders. As background, I hold both Reserve and Magnus. I was able to swap my Magnus with Magnus Burgundy in October basis my banking relationship with Axis. There is no possibility for me to upgrade my relationship to Burgundy Private in near future.

Since 1st Sep, I have put all my spends on Magnus to get the benefits of accelerated ERP. I would like to check the strategy followed by other Reserve cardholders on this forum:

- Are you still using your Reserve card actively?
- What is your point redemption strategy for Reserve points?
- what is the conversion ratio you are getting? Are you able to convert points at 5:4 if you hold Magnus Burgundy?

Thanks

I am using reserve for Gyftr, all others moved to M4B and infinia

 

[K.R]

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

Yes.. I need more. For example, If I make one round trip from Delhi to Sydney. 4 Guest access are wasted per guest. Delhi, Singapore, and Sydney Singapore ( Delhi I may manage with my PP but others they don't allow).

 

[live_and_let_live]

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) !

I've never paid with payzapp. does the payment credit date on CC will be same as date payment made in payzapp ? especially for HDFC CC payments...

 

[Virgo]

I am using reserve for Gyftr, all others moved to M4B and infinia

Hmmm…I am assuming you Magnus Burgundy also. Have you tried redeeming Reserve points? My card will come up for renewal in June, I am confused whether I should gun for 25L fee waiver criteria 🤔

 

[jchandra49]

I have a magus credit card and I would like to pay the tuition fee of my cousin of around 15 Lakh(MS in US) through my credit card through Flywire portal.He will be transferring the same amount to my account.

• Will i have issue with ITR or anything else by paying that much money by using my credit card. (I am paying it bcoz of points)
• Do we have restrictions for paying via Flywire portal

Could someone please suggest whether it's a sensible decision or not

 

[Rags]

Hmmm…I am assuming you Magnus Burgundy also. Have you tried redeeming Reserve points? My card will come up for renewal in June, I am confused whether I should gun for 25L fee waiver criteria 🤔

Not yet redeemed ERs of reserve

 

[sahil624]

Hi all, is it possible to open Burgundy account with 2 lac plus salary? I have visited branches and called customer care, everyone has a different answer.

 

[Rags]

Hi all, is it possible to open Burgundy account with 2 lac plus salary? I have visited branches and called customer care, everyone has a different answer.

Yes but you won't get M4B

 

[sourpai]

Hi all, is it possible to open Burgundy account with 2 lac plus salary? I have visited branches and called customer care, everyone has a different answer.

The only answer you can get is via your branch or RM. These things are usually open for negotiations depending on many factors such as whether it is a new Axis branch, your company tieup with that branch, TRV that you can commit etc. There is no standard rule. Standard rule is only for Salary >3L

 

[SM24]

November OGre'S arrived 🙂

 

[faisy]

Dear freinds... this is my 1st post.. Please guide me on how to proceed further..
I am awaiting for Magnus Burgundy Upgrade.. Most likely will recieve in January using AQB Balance of 10 lakh...
i have 3.75 lakh edge reward points now.. 1.25 lakh points through magnus credit card and 2.5 lakh using debit card/IOCL cards... i will get more points in future also as per my spend pattern.. (using both my debit and credit card usage)...
1. since every year there is a capping of 5 lakh edge reward redemption, i am confused should i redeem my points before december 30 with 5:2 .. Next year I am sure i can earn more than 5 lakh reward points per year...
2. If i dont redeem now and wait for Burgundy Magnus upgrade, will I be able to redeem all my reward points with 5:4, ?? or only. credit card reward spends only converted to 5:4..if then, what will. happen to my debit card earned points...only 5;2 even with new magnus Burgundy?
3. Also with M4B card, will my total reward redemption will be improved to 10 lakh per year or only.the points earned through M4B cards? if then edge reward points capping will still.be 5 lakh/year or 10 lakh/year..?
Pls help me with your ideas..already searched the group.. but the results are inconclusive..

Advance thanks for your help

 

[Thomas244]

Dear freinds... this is my 1st post.. Please guide me on how to proceed further..
I am awaiting for Magnus Burgundy Upgrade.. Most likely will recieve in January using AQB Balance of 10 lakh...
i have 3.75 lakh edge reward points now.. 1.25 lakh points through magnus credit card and 2.5 lakh using debit card/IOCL cards... i will get more points in future also as per my spend pattern.. (using both my debit and credit card usage)...
1. since every year there is a capping of 5 lakh edge reward redemption, i am confused should i redeem my points before december 30 with 5:2 .. Next year I am sure i can earn more than 5 lakh reward points per year...
2. If i dont redeem now and wait for Burgundy Magnus upgrade, will I be able to redeem all my reward points with 5:4, ?? or only. credit card reward spends only converted to 5:4..if then, what will. happen to my debit card earned points...only 5;2 even with new magnus Burgundy?
3. Also with M4B card, will my total reward redemption will be improved to 10 lakh per year or only.the points earned through M4B cards? if then edge reward points capping will still.be 5 lakh/year or 10 lakh/year..?
Pls help me with your ideas..already searched the group.. but the results are inconclusive..

Advance thanks for your help

With axis bank u never know. They may refine and update systems so that debit points can’t be transferred at 5:4. These risks are part of the package. Anyway if u wait these 5 lakh points probably will need to be transferred as soon as u get upgrade then u can earn and transfer another 5 on new card for the year. Some remaining points earned on new card transfer in 2025.

 

[faisy]

With axis bank u never know. They may refine and update systems so that debit points can’t be transferred at 5:4. These risks are part of the package. Anyway if u wait these 5 lakh points probably will need to be transferred as soon as u get upgrade then u can earn and transfer another 5 on new card for the year. Some remaining points earned on new card transfer in 2025.

Any idea on reward point capping for New M4B cards... 10lakh/year applicable only on M4B card points or all edge reward points?

 

[sns10]

Could anyone successfully apply for Magnus for Burgundy credit card based on the November One Glance Statement?

 

[Rags]

Any idea on reward point capping for New M4B cards... 10lakh/year applicable only on M4B card points or all edge reward points?

All edge reward points

 

[shrekster]

Could anyone successfully apply for Magnus for Burgundy credit card based on the November One Glance Statement?

Premium experience has requested 5 working days to work on it, will update when they do

 

[kapsshah42]

In spite of last 3 OGS above 10L the name is not there in the list.Told to reach again after 15 Dec.Cant understand what is Axis upto.