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

 

[kay]

In how many days can I expect to receive ER points for M4B card spending? This is my first M4B transaction?

 

[hello11]

Anyone else has got 23ER/200 for October month? I’ve not yet received it

 

[CVR]

Anyone else has got 23ER/200 for October month? I’ve not yet received it

Not received. 45 days would mean should be received by 15 Dec.

 

[palvannan]

In how many days can I expect to receive ER points for M4B card spending? This is my first M4B transaction?

Minimum 7 days and upto 15 days

 

[mojo_jojo123]

Yes but you won't get M4B

will there be any benefit of having such burgundy salary account. ? I have plain magnus and fall in same categroy

 

[kay]

Minimum 7 days and upto 15 days

Working days or calendar days?

 

[kay]

I am new to Axis and Burgundy banking, I will apprecaite help from this amazing community.

- Will I receive ERs for Burgundy Debit and M4B credit card spending in same bucket with same transfer ratio?

 

[UKJ]

I am new to Axis and Burgundy banking, I will apprecaite help from this amazing community.

- Will I receive ERs for Burgundy Debit and M4B credit card spending in same bucket with same transfer ratio?

Yes. As of now.

 

[kay]

Yes. As of now.

Okay, thank you.

 

[K.R]

Not received. 45 days would mean should be received by 15 Dec.

I got them last week itself. It should be any time between 1st -15th Dec. If you don't get by Friday you should call

 

[Viper1057]

You need to do a 2 step purchase process to reach 300 points.
1. Add 540 points ( spend 9k now) to reach 620 points in a week.
2. Transfer only 500 points to get to 120 points.
3. Then Add 180 points ( spend 3k) to reach 300 , a week after.
So two weeks journey 🤣

@palvannan I had 96 points previously in Magnus Burgundy bucket, did a 40k transaction for something now have 2496 Magnus Burgundy points but its only letting me redeem in the multiple of 100 and upto 2400.

To redeem it completely, do I need to spend anything between 3400~3599 to get extra 204 points to be able to redeem it all so that I can redeem my ER balance??

 

[CVR]

I got them last week itself. It should be any time between 1st -15th Dec. If you don't get by Friday you should call

Ohh. Lucky for you. I don’t anyone else who has already received the Oct AEP.
Btw did it come in MB bucket or ER bucket?

 

[CVR]

@palvannan I had 96 points previously in Magnus Burgundy bucket, did a 40k transaction for something now have 2496 Magnus Burgundy points but its only letting me redeem in the multiple of 100 and upto 2400.

To redeem it completely, do I need to spend anything between 3400~3599 to get extra 204 points to be able to redeem it all so that I can redeem my ER balance??

Once you transfer 2400 MB, same no should come from ER to MB. Ridiculous thing by Axis.

 

[ankurarora898]

My rm is saying my 10 AQB is maintained but I need to show 24 lakh ITR to get the upgrade!
When is this condition introduced , options now for upgrade?

 

[palvannan]

@palvannan I had 96 points previously in Magnus Burgundy bucket, did a 40k transaction for something now have 2496 Magnus Burgundy points but its only letting me redeem in the multiple of 100 and upto 2400.

To redeem it completely, do I need to spend anything between 3400~3599 to get extra 204 points to be able to redeem it all so that I can redeem my ER balance??

Yes to make BM balance in multiples of 100 , you need to earn additional 204 points.
For which you need to spend rs 3400 ( plus additional upto rs 199). And don't spend anything else using the new BM card for a week , as sometimes the new points get credited at random timelines.

You are one of the few ones to fully understand my explanation and detailed procedure correctly 😂, and I hope you meet with success and let us know the results in a week if you are able to able to make BM balance zero again and transfer the stuck points in normal ER bucket .

 

[palvannan]

I am new to Axis and Burgundy banking, I will apprecaite help from this amazing community.

- Will I receive ERs for Burgundy Debit and M4B credit card spending in same bucket with same transfer ratio?

No , any spend on new BM card will go the new BM bucket , and any ER points earned using Burgundy debit card will go to the existing ER bucket.

 

[palvannan]

My rm is saying my 10 AQB is maintained but I need to show 24 lakh ITR to get the upgrade!
When is this condition introduced , options now for upgrade?

If you have another credit card with credit limit > 10 lakhs then it can be applied on C2C basis.

 

[Vaastav]

Ohh. Lucky for you. I don’t anyone else who has already received the Oct AEP.
Btw did it come in MB bucket or ER bucket?

I'm also yet to receive AEP; according to their 45-day time, they should have been credited by today. I will be giving them a call on Monday if it is not credited by that time.

 

[ash_13]

I'm also yet to receive AEP; according to their 45-day time, they should have been credited by today. I will be giving them a call on Monday if it is not credited by that time.

I didn't receive my september spend extra points by 15 november. On emailing, they replied that i wasn't eligible. I escalated to premium experience giving them the list of spends. Only then they credited the points to my account.

I once again didn't receive the october spend extra points by 15 december. Have emailed to premium experience just now, giving them the list of spends.

You may do the same.

 

[kay]

No , any spend on new BM card will go the new BM bucket , and any ER points earned using Burgundy debit card will go to the existing ER bucket.

Yeah correct, i have points in 2 buckets but have same transfer ration as BM