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Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

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bugmenot

bugmenot

TF Legend
-- 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


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


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

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

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
 

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palvannan said:
Also it depends on how many points are left behind in normal ER bucket. If it is less than certain figure ( like less than transferred points ?) , then it will not get automatically pushed to the MB bucket , I feel. Anyway let us know the results with the screenshot 😂
Click to expand...
ER bucket is sufficiently loaded. It also includes last Magnus milestone of 25K points which I got after separation kicked in. I was only waiting till now as I was not sure of where to transfer. Will be be pushing to Accor
 
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palvannan said:
Yes it is a peculiar problem , as reported by many. , to have the MB bucket automatically filled from the normal ER points , of an equivalent amount just transferred to make it nil balance ! But this replenish will happen only when you make the MB balance zero , I think , and not when there is still some left over points .

Supposing you leave the 4 points balance in MB bucket , will you still get 4900 additional points transferred from ER bucket to MB bucket automatically ? I think you should transfer only in multiples of 300 so that balance points if any left behind is in multiples of 12 , unless transfer is going to make the MB zero like when you transferred 5100. But transferring 5000 now ( which is not multiple of 300) will leave you with 4 points and to make it to 300 or multiples of 100 will be a tedious task again.
Click to expand...
No not actually, its always will be going more less and doesn't get to less than 300 unless you are finished with your ERs
 
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UKJ said:
Did anyone receive AEPs for insurance payments? This is a grey area and Axis helpline has not been able to give a clear answer.
Click to expand...
Only if u type that in search box instead of here.

www.technofino.in

Axis Magnus - Insurance premium payment through Axis magnus after devaluation

Waiting for Avijeet to clarify on this.Real life examples are what matters the most and help people not getting tunnel visioned That I completely understand. I was just sharing a reference of Axis document of the calulation, as there's no other way to base the calculations on. Of course, we...
www.technofino.in www.technofino.in
 
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My account was upgraded to Burgundy couple of days ago. Any idea if I will be able to upgrade to Magnus for Burgundy? Customer care said I will need to wait until one glance statement is generated but LTF offer ending this month.

This is very annoying that bank cannot see I have been maintaining sufficient bank balance last many months and needs one glance statement proof only. How idiotic is this!
 
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ramarox said:
I satisfied 30L TRV on Nov 29 with Nov OGS reflecting the same. As of now, I have been told that I am not eligible.
Click to expand...
I think they calculate the average monthly balance of savings balance and AMB of fixed deposits ( based on day end balance on each of 30 days ) balance seperately for the whole month and add it up to arrive at the TRV value for the month. Hence if you keep 30 Lakhs only for 2 days in a month , then the TRV value ( based on fixed deposits value alone) will be only 2 lakhs for November ! If u keep 30 lakhs FD for full month then 30L TRV is achieved for that month , but if any 45 days cooling period is applicable differs from case to case .
 
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Y
palvannan said:
I think they calculate the average monthly balance of savings balance and AMB of fixed deposits ( based on day end balance on each of 30 days ) balance seperately for the whole month and add it up to arrive at the TRV value for the month. Hence if you keep 30 Lakhs only for 2 days in a month , then the TRV value ( based on fixed deposits value alone) will be only 2 lakhs for November ! If u keep 30 lakhs FD for full month then 30L TRV is achieved for that month , but if any 45 days cooling period is applicable differs from case to case .
Click to expand...
You are mixing the calculation of AQB and TRV. For AQB they do an average, for TRV the OGS outstanding is sufficient and averaging is not done. Though, what I have gathered from other people posts, they want the TRV to continue for some days (30/45 days).
Also, those who have November OGS and are meeting the TRV, pursue with your RM and the RM will get the approval for you for Magnus-Burgundy.
 
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Just one quick question: my manager told me that he could seek approval for Magnus for Burgundy, but since this will be a fresh application and I don't currently have a Magnus, he needs three months of salary slips and the statement from any current card that has a limit greater than 10L.

I have a card statement exceeding the 10L limit; however, do I really need to provide salary slips?
 
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H2O said:
Just one quick question: my manager told me that he could seek approval for Magnus for Burgundy, but since this will be a fresh application and I don't currently have a Magnus, he needs three months of salary slips and the statement from any current card that has a limit greater than 10L.

I have a card statement exceeding the 10L limit; however, do I really need to provide salary slips?
Click to expand...
Yes salary slips are required for new Magnus for Burgundy if you don't already have normal Magnus
 
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