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

 

[sushantk]

Hi everyone, has anyone who became eligible in January based on December OGS, got the upgrade? I am being asked to write back after 20th January.

Same here; I am being asked to contact on or after 23-Jan.

 

[Ankit13]

Same here; I am being asked to contact on or after 23-Jan.

looks like they are just randomly quoting dates now

 

[smuff]

Ya post Jan 31 it won’t be LTF even for Burgundy customers. It will be 30k annual fees and not one time fees.

I believe 30k annual fee is not worth unless they add equivalent renewal benefit and add more benefits to this card.
Some people are getting rejection upgrade to magnus burgandy and getting info about 30k fees for magnus.. so looks like its coming after jan.

 

[bing1309]

I believe 30k annual fee is not worth unless they add equivalent renewal benefit and add more benefits to this card.
Some people are getting rejection upgrade to magnus burgandy and getting info about 30k fees for magnus.. so looks like its coming after jan.

Already Spoke to the Product Manager of Burgundy Magnus 36k is confirmed news after Jan 31st however those who are eligible for Burgundy Magnus will be considered just 45 days on Statement due to the offer ending and they will issue burgundy Magnus for them and close the offer.

 

[SSV]

and close the offer.

For GOD sake.. can't wait for this fiasco to end ...

I really don't understand.. who are they threatening.. what do they mean by offer ending.. what they are trying convey here ..
Say if someone opens True Burgundy later, they don't want to give M4B?? whats this policy about? they don't like True Burgundy.. they don't like money..
All this crap about M4B offer ending soon blah ...blah..

 

[hello11]

I became eligible for burgundy magnus in the new year and just upgraded it using the link.
When can we transfer our old ER points at 5:4 ratio? After the card has been activated?

Wait till you see a magnus for burgundy bucket in your traveledge. You should then be able to transfer ER at 5:4

 

[vine]

Bhai log,
Asking for one of my cousin, they live in a tier3 town and hve 10L in savings account anyway and they want to know if Magnus+Burgundy can be asked.
They say they do maintain 10L anyway, and not for this CC purpose.
Monthly expenses are not more than 40k, and once a year domestic air travel for whole family, and they use amazon and Reliance smart.
No Zomato/bigbasket/ ola/uber/metro etc..
I think their idea is to use reward points for once a year air tickets and hotels.

Any advice if it's good to take Magnus+Burgundy. (AMEX not serviceable in this town).

 

[SSV]

Bhai log,
Asking for one of my cousin, they live in a tier3 town and hve 10L in savings account anyway and they want to know if Magnus+Burgundy can be asked.
They say they do maintain 10L anyway, and not for this CC purpose.
Monthly expenses are not more than 40k, and once a year domestic air travel for whole family, and they use amazon and Reliance smart.
No Zomato/bigbasket/ ola/uber/metro etc..
I think their idea is to use reward points for once a year air tickets and hotels.

Any advice if it's good to take Magnus+Burgundy. (AMEX not serviceable in this town).

If they maitain 10L balance in SB account, there is absolutely no harm in taking M4B as it will be free anyway..
Suppose if it doesn't suit their spendign pattern or not redeeming to the fullest value they always have an option of CLOSING M4B..
My advice : Just go for it !!

 

[vine]

If they maitain 10L balance in SB account, there is absolutely no harm in taking M4B as it will be free anyway..
Suppose if it doesn't suit their spendign pattern or not redeeming to the fullest value they always have an option of CLOSING M4B..
My advice : Just go for it !!

Any expiry on M4B reward points? It's 3 years correct?

 

[SSV]

Any expiry on M4B reward points? It's 3 years correct?

I think so .. its a general rule for all ERs.

 

[hrish88]

I already tried that, but that doesn't work, as traveledge won't allow edge points until magnus burgundy reach zero even for direct flight and hotel bookings.

BTW, just tried with point and pay option and it worked like a charm😁. Placed cheap product with just enough points to bring MB to 0, paid rest via card. It brought MB to 0, transferred all remaining edge points to Accor, then cancelled points plus pay order and edge balance used for points plus pay is credited back instantly. Cash part is not credited yet, but got a mail saying it will be credited within 7 days. So, this is superb alternative 🤣. All within 5 mins.

i did not read this post carefully and got burned.

i made a refundable booking on traveledge via points+cash.booking got through but there no option of cancelling or modifying the booking.called the useless support as usual no solution.executive ask me to drop an email.i don't even have a booking/confirmation number.all i have received is one email for point redemption and another for receipt of payment i made on my magnus.

Only god knows how many days and follow-up will be required to cancel this booking.

Axis is so useless i have given them request to update my accor id on nov 22 even after multiple follow ups it has still not being done till date.

 

[bing1309]

For GOD sake.. can't wait for this fiasco to end ...

I really don't understand.. who are they threatening.. what do they mean by offer ending.. what they are trying convey here ..
Say if someone opens True Burgundy later, they don't want to give M4B?? whats this policy about? they don't like True Burgundy.. they don't like money..
All this crap about M4B offer ending soon blah ...blah..

so the LTF will close, but Magnus for True-burgundy will be charged 36k with a 5:4 ratio for non-burgundy it will cost 35k with a 5:2 ratio (exactly for 5:2 ratio magnus no idea about the cost did not specifically ask it might be 12k+gst or go for 35k)

 

[SSV]

so the LTF will close, but Magnus for True-burgundy will be charged 36k with a 5:4 ratio for non-burgundy it will cost 35k with a 5:2 ratio

Okay.. good to know this info .. and good luck AXIS for this pricing and let the market decide the fate of Magnus..

 

[bing1309]

Okay.. good to know this info .. and good luck AXIS for this pricing and let the market decide the fate of Magnus..

The fight is only for LTF, the point conversation ratio will only differ where Burgundy Magnus won't be advertised but when Burgundy holders who have Magnus the customer support or RM or via mail the upgrade option comes once they are qualified. Axis Like to advertise it as,, dear customer as you are our valued customer who holds a Burgundy account we will offer you free of cost for Burgundy Magnus as you get a 5:4 ratio bla bla bla... and jack up customer and issue one (already fee collected so)... as burgundy holder what more they can advertise on there account offers? so to show something special they do such stuff

 

[SSV]

The fight is only for LTF, point conversation ratio will only differ where Burgundy magnus won't be advertised but when Burgundy holder who has magnus the customer support or RM or via mail automatically the upgrade option comes once they are qualified. As the Like to advertise it as,, dear customer as you are our valued customer who holds Burgundy account we will offer you free of cost for Burgundy magnus as you get 5:4 ratio bla bla bla... and jackup customer and issue one (already fee collected so)...

just please answer thse questions in simple terms:

If a customer opens a true Burgundy later
1) will he get M4B ( assuming he already got Magnus / applies for new Magnus)
2) will it be chargeable?

Another Q
3)Currently whoever got M4B, if Burgundy status is not maintained , will the card be chargeable or not..

 

[bing1309]

just please answer thse questions in simple terms:

If a customer opens a true Burgundy later
1) will he get M4B ( assuming he already got Magnus / applies for new Magnus)
2) will it be chargeable?

Another Q
3)Currently whoever got M4B, if Burgundy status is not maintained , will the card be chargeable or not..

1. If a customer becomes a true burgundy holder later has to pay 35k for Magnus to get a 5:4 ratio
2. If he has Magnus already. just for the upgrade to Magnus Burgundy 5:4 ratio he has to pay 35k again for such an upgrade.

3. Yes Magnus will be downgraded as the Burgundy account can be Downgraded only after 6 months once upgraded. The fee you paid 35k will not be given. (Just like the priority pass if the card is lost new card-issued priority pass is also dead, similarly card will be reissued with a 5:2 ratio and the Burgundy Magnus option will disappear in the edge portal)

just adding info
4. if you have got a new Magnus and paid the 35k fee and when you upgrade to burgundy and qualify for burgundy and get burgundy Magnus (no charges incurred and later due to no maintenance you have been downgraded the card fee won't be asked as you have paid said fees of 35k (in the upgrade or downgrade no charges in occurred but the point conversion ratio will change with issuance of new card)

 

[SSV]

1. If customer becomes true burgundy holder later has to pay 35k for magnus to get 5:4 ratio
2. If has magnus already for upgrade to magnus Burgundy 5:4 ratio he has to pay 35k again for such upgrade.

Is this one off fee / or yearly fee?

 

[SSV]

3. Yes magnus will be downgrade as the Burgundy account can be Downgraded only after 6 months once upgraded. The fee you paid 35k will not be given. (Just like priority pass if card lost new card issued priority pass also dead, similarly card will be reissued with 5:2 ratio and Burgundy magnus option will dissappear in edge portal)

This one I am talking about whoever already got M4B now... before the offer ends..

 

[bing1309]

Is this one off fee / or yearly fee?

Joining fee and renewal fee.

just adding info
4. if you have got a new Magnus and paid the 35k fee and when you upgrade to burgundy and qualify for burgundy and get burgundy Magnus (no charges incurred and later due to no maintenance you have been downgraded the card fee won't be asked as you have paid said fees of 35k (in the upgrade or downgrade no charges incurred but the point conversion ratio will change with issuance of new card)

 

[SSV]

Joining fee and renewal fee.

Thats what I thought so

just adding info
4. if you have got a new Magnus and paid the 35k fee and when you upgrade to burgundy and qualify for burgundy and get burgundy Magnus (no charges incurred and later due to no maintenance you have been downgraded the card fee won't be asked as you have paid said fees of 35k (in the upgrade or downgrade no charges in occurred but the point conversion ratio will change with issuance of new card)

I completely understood this.. Thanks for the clarification...


My question is:
Say you already got M4B now based on your True Burgundy status..
Next month you lost Burgundy status.. what happens to your Magnus card? is it chargeable or not?