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

 

[palvannan]

Hey all.. so finally my MB got approved yesterday based on TRV route.

Account opened on 7th Nov. Maintained 10 lakhs till 25th and then 30 lakhs till date. OGS of 5th Dec reflected TRV of 30 lakhs.

Card approved yesterday and now showing in Axis app.

Question - Should I unbox it now or 1st convert existing ERs ? Have some 6K ERs in old magnus.

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.

 

[SteelSh0t]

Tap to pay method for payment doesn't work with Axis credit cards issued on Mastercard platform. But Axis credit cards issued on Visa platform doesn't have this problem. Infact you cannot add Axis Magnus( MasterCard) on gpay for payment to merchant at all , even for normal merchant payment. Had raised the issue a couple of weeks back with the premium support but no resolution yet. Paytm tap to pay page ( for adding credit card to use this facility) also clearly mentions the list of cards supported for adding this facility and it doesn't include Axis MasterCard credit or debit cards. Please write to PE also so that they will take action when more users complain.

Anyone has had issues with Mastercard tap to pay? my old Magnus (VISA) worked very well with tap to pay in a couple of restaurants I frequent. However, the new M4B (mastercard) hasn't worked for tap to pay on both these places - chip insert works however.

Wondering if my card has it's antenna broken or if it could be a mastercard issue..

I tried Tap and Pay today on MC Magnus and it worked.

I had added Magnus to Samsung Pay and tapped my phone on POS machine and txn went through, no issues.

 

[sns10]

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.

Ok this helps. Just to make it clear for others.
a) Upon receiving approval for Magnus-Burgundy, the MB bucket will be activated in a few days.
b) Once the MB bucket is activated, then we have to transfer existing ERs at 5:4 ratio and thereafter activate the new Magnus Burgundy card.

 

[kapsshah42]

Received the new magnus burgundy card but 5:4 still not reflecting.Any solutions?

 

[UKJ]

Received the new magnus burgundy card but 5:4 still not reflecting.Any solutions?

It could take 3 to 4 days to show 5:4

 

[cartoon_soldier]

I currently have Axis Magnus credit card, but no bank account with Axis.

What would be the best way to approach axis to get Burgundy account with 10L Savings balance requirement, wondering what others have done. Should I visit branch, I also see you can apply online - would that be better and then branch will contact me for further process?

Is there anything I should do to make sure my Magnus card gets linked with the new account, wait for 3-4 months to confirm Burgundy status and then convert it to Magnus Burgundy?

Thanks

 

[cartoon_soldier]

Hey all.. so finally my MB got approved yesterday based on TRV route.

Account opened on 7th Nov. Maintained 10 lakhs till 25th and then 30 lakhs till date. OGS of 5th Dec reflected TRV of 30 lakhs.

Card approved yesterday and now showing in Axis app.

Question - Should I unbox it now or 1st convert existing ERs ? Have some 6K ERs in old magnus.

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

 

[drsel]

I currently have Axis Magnus credit card, but no bank account with Axis.

What would be the best way to approach axis to get Burgundy account with 10L Savings balance requirement, wondering what others have done. Should I visit branch, I also see you can apply online - would that be better and then branch will contact me for further process?

Is there anything I should do to make sure my Magnus card gets linked with the new account, wait for 3-4 months to confirm Burgundy status and then convert it to Magnus Burgundy?

Thanks

10 lakhs is not enough.
You need 30 lacs in fixed deposit or savings or current account and after 45 days you will be eligible.
It usually takes 60 days with repeated follow up to convert your Magnus into Magnus burgundy

 

[cartoon_soldier]

10 lakhs is not enough.
You need 30 lacs in fixed deposit or savings or current account and after 45 days you will be eligible.
It usually takes 60 days with repeated follow up to convert your Magnus into Magnus burgundy

Ok, thanks, putting 30L in account for Burgundy makes no sense.

 

[CardGame]

Ok, thanks, putting 30L in account for Burgundy makes no sense.

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.

 

[Deleted member 11974]

best way is to shift salary account to axis if net credits are above 3L

 

[bing1309]

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

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

 

[cartoon_soldier]

best way is to shift salary account to axis if net credits are above 3L

No Salary here, I have a consultancy company and all my work is on contract coming to that company.

 

[Deleted member 11974]

No Salary here, I have a consultancy company and all my work is on contract coming to that company.

EVEN BETTER
keep transferring 3L every month from your consultancy company to your own account or your wifes accoutn and get a magnus burgundy free

 

[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.