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

 

[K.R]

How did you pay the bill?
I have personally tried Mobiqwik and Cheq. Both will give 1% ER. I don't think there is any cap.

Cred and Payzapp is allowing. Someone in this forum only advised Payzapp. For Cred minimum amount is 50K

 

[Virgo]

How did you pay the bill?
I have personally tried Mobiqwik and Cheq. Both will give 1% ER. I don't think there is any cap.

I have paid earlier via CheQ, MobiKwik and Payzapp annd have always received 1% ER points within 2-3 days.

However, no points given as yet for payments of 4L plus made on Dec 1st via Payzapp. Considering it’s more than 4 days, I suspect Axis has stopped the rewards on credit card payments. Will still continue to watch for next few more days

 

[nrj1007]

I don't have any bank account with Axis nor Magnus. I got some 20 lakhs spare which I need to park until I invest it somewhere. Is it possible to get burgundy account and burgundy magnus LTF? If yes, what's the process?

 

[UKJ]

Yes absolutely correct.

Thank you for confirming.

 

[PointsProfessors]

Major details on Axis Magnus devaluations

##Revision of Welcome Benefit:
■Option to choose Tata CLiQ voucher will be discontinued Instead choose Luxe , PostCard Hotels or Yatra

##Revision of Annual Benefit:
■The annual fee will be updated from INR 10,000 + GST to INR 12,500 + GST for customers on-boarded from 1St September 2023
■The annual benefit of voucher worth INR 10,000 will be discontinued
■ Annual fee waiver of ₹12,500 on spends of ₹25,00,000 up from ₹15,00,000 in the preceding card anniversary year.
■For existing customers fee waver is ₹15 lakhs but, after 1st September 2024, fee waiver will be applicable on cumulative spends of IN 25,00,000 in preceding card anniversary year.

##Revision Of edge rewards and milestone benefits:
■No rewards and no annual fee waver benefits for spends on government sites.
■Monthly milestone benefits of 25,000 EDGE Reward Points on monthly spends of ₹1,00,000 will be discontinued from 1st September 2023
■People will get 25000 edge points for transaction done in may,June and July as per previous offer
■12 EDGE Reward Points for every ₹200 on spends up to ₹1.5 lakhs. And 35 EDGE Reward Points for spends above ₹1.5 lakhs
■Earn 60 EDGE Reward Points for every ₹200 spent on Travel Edge portal, up ₹2 lakhs per month and 35 EDGE points on spends above ₹2 lakhs per month.

##Revision of Miles Transfer Program:
■Revised transfer ratio of 5:2 (5 EDGE Reward Points = 2 Partner Point/Mile)
■Total EDGE Reward Points that can be converted to Partner Points in a calendar year is capped to 5,00,000
■For the year 2023, customer can convert 5,00,000 EDGE Reward Points from 1st September 2023 - 31st December 2023.

(Source-Axis/Twitter/Telegram)

Which voucher option will be better among Luxe, PostCard Hotels and Yatra?

 

[SSMV]

Which voucher option will be better among Luxe, PostCard Hotels and Yatra?

Yatra voucher could be better

 

[nrj1007]

Yatra voucher could be better

the validity of yatra voucher?

 

[naren89]

Cred and Payzapp is allowing. Someone in this forum only advised Payzapp. For Cred minimum amount is 50K

did you get 1% ER on Cred also?

 

[jonamdhar]

the validity of yatra voucher?

The voucher, as per the website, is valid for 6months.
But, I applied for it this month. The validity provided for me as per mail is till Aug 24..So about 9 months

 

[SSMV]

F

The voucher, as per the website, is valid for 6months.
But, I applied for it this month. The validity provided for me as per mail is till Aug 24..So about 9 months

For me validity is for 1 year

 

[Riva]

I have paid earlier via CheQ, MobiKwik and Payzapp annd have always received 1% ER points within 2-3 days.

However, no points given as yet for payments of 4L plus made on Dec 1st via Payzapp. Considering it’s more than 4 days, I suspect Axis has stopped the rewards on credit card payments. Will still continue to watch for next few more days

The webpage still shows 2-6 pts on spends of 200 on burgundy debit card.

EDGE REWARDS- Burgundy Banking - Axis Bank

Earn reward points for every Burgundy Banking transaction that you make! Click here to know how to earn Edge Loyalty Rewards on Axis Bank Burgundy Banking Transaction!

www.axisbank.com

 

[chasni]

Travel Edge ER transfers are failing. Is this only for me or anyone else has the same issue?

 

[saketreddy]

Which partner are you trying?

Travel Edge ER transfers are failing. Is this only for me or anyone else has the same issue?

 

[chasni]

Which partner are you trying?

Trying to transfer to United.

 

[K.R]

did you get 1% ER on Cred also?

Yes. Cred Deposits to your credit card immediately while Payzapp takes 3-4 days

 

[K.R]

For me it took 3 days. I made a CC payment of 2.5 L and i got around 2500 ER

Received my 23 Points per 200 above 1.5 lacs for October month today. Will transfer and Activate my M4B

 

[K.R]

Trying to transfer to United.

I have not been getting OTP. I tried 2 days back. Thought may be as its midnight they might be doing some upgrades.. Even now Iam not getting OTP while doing ER transfers

 

[SM24]

I have not been getting OTP. I tried 2 days back. Thought may be as its midnight they might be doing some upgrades.. Even now Iam not getting OTP while doing ER transfers

I did Marriott...

It went through...

Took the usual 24 hours to get done.

 

[K.R]

I did Marriott...

It went through...

Took the usual 24 hours to get done.

My issue is different. I am not getting OTP for past 3 days. Called up Burgundy and then Travel edge. Came to know that my data has been deleted by some technical glitch. Have dropped a stinker email to Mr Amitabh Choudhary

 

[Warlock27]

Guys an unrelated question to devaluation, but does anyone know if we have to use the credit card with same name as the travel edge account when making a booking on travel edge portal.
What I'm asking is, a friend want to use my credit card to book a ticket through his travel edge account, will I get the bonus ERs in this case ?