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

 

[shashankrt]

It will take a couple of days for the MB bucket to show ( with zero balance) in travel edge login . Only after that you will be able to transfer existing ER points at 5:4 . First transfer all ER points fully . After that You can activate the new card but don't spend anything on it , if you have pending milestone/AEP points yet to be credited.

Thanks man. Will wait for few days and convert all existing ER points.

 

[shashankrt]

Why did you have to do 30L TRV if 10L AQB is qualified criteria for Burgundy account?

Because 10L AQB route takes 3 months whereas TRV is fastest. In fact you can deposit 30L for few days (post 27th of the month) keep it till 6th of the month and you are done with eligibility criteria. My Magnus was due for renewal in Jan and hence I wanted to convert asap.

 

[shashankrt]

Even 10L makes no sense then why u even think about 30L... Instead we could put an FD for 30L and pay the fee of 14k and be left with more money for a decent international trip for 2 😂 (8-3% and we lose 5% here from keeping the money in savings.

In that case you will only have 5:2 conversion ratio. Also 10L does not make sense only for the MB card. It will make sense only if you actually want to keep that much amount in cash in any account for any reason. For me I will now move to convert to Burgundy salary account.
I already had some funds in HDFC and HDFC did not care - so achieved 2 objectives - showing middle finger to HDFC and MB with burgundy 😈

 

[shashankrt]

As I understand from another new thread you created do note that by the 25th of every month, the quarterly/monthly balance is calculated hence you should have 10L+ in the account if you had deposited 30L.. every day do check your monthly balance and quarterly balance keep on increasing as that much time its hold in your account, Open Axis burgundy with Online/offline and rest all details you will know. my suggestion to you is to open offline ask all the details in a branch on Magnus Burgundy etc and apply directly but once you open for at least 3 months till the next cycle comes on the 25th you should maintain a balance then automatically you can ask RM to upload 3 month single statement of your transaction statement and your RM will inform you on Axis burgundy magnus CC. if you had an account with a balance above 10L+ in Axis and recently upgraded to Burgundy, if the 3-month statement shows 10L+, you can immediately go for Axis Burgundy Magnus in my case. (once the card is issued, it takes 4 days max to show the point conversion ratio as 5:4 in the edge portal.)
hope this info helps you

Yes. for AQB route you need to maintain balance for 2 -3 months atleast. For TRV its just one OGS which is required with 30L as balance. TRV I believe is better as you can immediately transfer out 20L post OGS generation

 

[cartoon_soldier]

Ah ok, thats for all the clarifications. Much appreciated.

 

[Raj2022]

Can someone tell me if normal ER transfer@5:4 is counted towards total 10L transfer quota available for Burgundy Magnus? Thanks in advance.

 

[drsel]

Can someone tell me if normal ER transfer@5:4 is counted towards total 10L transfer quota available for Burgundy Magnus? Thanks in advance.

Yes it is

 

[mastfun]

When do we get to see Magnus bucket? It's been 5 days and don't see it yet.

I see Edge Rewards and Edge Miles.

 

[Raj2022]

Yes it is

Thanks for the clarification! Very much appreciated. Currently I have around 7L points and will be eligible for Burgundy Magnus only after January. Will earn around 8-10L points next year so I will just transfer 5L@5:2 before end of this year.

 

[drsel]

Thanks for the clarification! Very much appreciated. Currently I have around 7L points and will be eligible for Burgundy Magnus only after January. Will earn around 8-10L points next year so I will just transfer 5L@5:2 before end of this year.

Don't transfer at 5:2 ratio wait for 5:4 and then transfer

 

[drsel]

. Will earn around 8-10L points next year so I will just transfer 5L@5:2 before end of this year.

How do you manage to earn 8 to 10 lac points in one year

 

[Raj2022]

Don't transfer at 5:2 ratio wait for 5:4 and then transfer

I think it's better to transfer 5L@5:2(2023)+10L@5:4(2024) instead of only 10L@5:4(2024); just my opinion.

 

[Raj2022]

How do you manage to earn 8 to 10 lac points in one year

It's possible only because of the AER above 1.5L spends. I'll put all the big spends in 2-3 or maybe 4 months.

 

[funatlearn]

If salary credit more than 3L is enough

Finally got Magnus Burgundy (Shows up in App, not yet delivered), after 3 times earlier rejection.
Dec, i added many cards. (Magnus Burgundy, icici platinum, icici coral rupay ltf, indusind rupay).
2 more (though not needed), AU zenith (rejected 2 times), and BOB eterna (rejected by my mistake), are in the pipeline in 2024.

 

[puneri.jaws]

It will take a couple of days for the MB bucket to show ( with zero balance) in travel edge login . Only after that you will be able to transfer existing ER points at 5:4 . First transfer all ER points fully . After that You can activate the new card but don't spend anything on it , if you have pending milestone/AEP points yet to be credited.

if you have reserve with you. are you able to convert the points for reserve 5:4 or it will be 5:2?

 

[bing1309]

if you have reserve with you. are you able to convert the points for reserve 5:4 or it will be 5:2?

reserve 5:4 via burgundy private or else 5:2

 

[Viper1057]

Can you elaborate? So after transferring 5000 points second time ( leaving with a balance of 4 points ) , did you actually get additional 4900 points from ER bucket into BM bucket ?

Yes now with 5004 MB balance and 11k+ balance in ER, I did a transfer again using my MB bucket with closest hundred multiple (5000) and post transfer, I got another 5000 ER debited from ER and added to my Magnus Burgundy bucket..



But now I again did 5000 and after that my balance became same in Magnus Burgundy and ER bucket 1600 approx but anyways the end of the story is that I am able to redeem my ERs properly 😀

 

[UKJ]

Yes now with 5004 MB balance and 11k+ balance in ER, I did a transfer again using my MB bucket with closest hundred multiple (5000) and post transfer, I got another 5000 ER debited from ER and added to my Magnus Burgundy bucket..

View attachment 38454

But now I again did 5000 and after that my balance became same in Magnus Burgundy and ER bucket 1600 approx but anyways the end of the story is that I am able to redeem my ERs properly 😀

How do you transfer points from ER to MB?

 

[drsel]

How do you transfer points from ER to MB?

It happens automatically

 

[UKJ]

It happens automatically

That's great. I've been reading posts about the complications involved in making the MB bucket nil so that ER points can be used in 5:4 ratio. I haven't started using my MB card because of that. But if the conversion is across the board then, I can start using the MB card without worrying about earlier points getting stuck.