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

 

[bing1309]

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

yes once LTF status is lost you will be charged. LTF is only given for 5:4 ratio Burgundy Magnus so that card will be downgraded to basic Magnus. if the LTF status is lost. it's up to the customer to close the card or continue with the paid card.

 

[SSV]

yes once LTF status is lost you will be charged. LTF is only given for 5:4 ratio Burgundy Magnus so that card will be downgraded if the LTF status is lost. it's up to the customer to close the card or continue with the paid card.

So it is not really LTF.. its is fee waived off as long as Burgundy status is maintained..
Is this correct or not?

 

[bing1309]

So it is not LTF.. its is fee waived off as long as Burgundy status is maintained..
Is this correct or not?

Yes, Conditional LTF.
if you have got LTF and are in burgundy status no issues with the LTF card this LTF is given in the offer period as LTF stands, if you lost Burgundy Status and downgraded then the LTF have been removed and charges are added to the credit card (as there is no penalty added when account downgraded so they redirect charges here if you want to close the card close the new card by calling customer care and ask for closure and say reverse the charges they will say clear balance and don't do any transaction we will reverse it and you can close it.. also when the new downgrade card issued you cant anyways use it because need activation code so as a safety measure already added). if the question is put forth as what if I upgrade to Burgundy private then your CC is LTF and all cards also with a 5:4 ratio are given back.

 

[SSV]

Yes, Conditional LTF.
if you have got LTF and are in burgundy status no issues with the LTF card this LTF is given in the offer period as LTF stands, if you lost Burgundy Status and downgraded then the LTF have been removed and charges are added to the credit card (as there is no penalty added when account downgraded so they redirect charges here if you want to close the card close the new card by calling customer care and ask for closure and say reverse the charges they will say clear balance and don't do any transaction we will reverse it and you can close it.. also when the new downgrade card issued you cant anyways use it because need activation code so as a safety measure already added). if the question is put forth as what if I upgrade to Burgundy private then your CC is LTF and all cards also with a 5:4 ratio are given back.

Again, thanks for the explanation..
Let’s come back to simple terms

Assume, we want to continue the Magnus card (5:4) for the next 20 years

Case 1) you already got m4b based on burgundy status and 2 months later you lost burgundy status but want to continue as m4b (5:4) ..
In this case what happens???

I will come to case 2 next

 

[bing1309]

Again, thanks for the explanation..
Let’s come back to simple terms

Assume, we want to continue the Magnus card for the next 20 years

Case 1) you already got m4b based on burgundy status and 2 months later you lost burgundy status but want to continue as m4b (5:4) ..
In this case what happens???

I will come to case 2 next

1. you lost Burgundy Status means lost 5:4 status will be back to 5:2, in case want 5:4 pay fee of 35k and fall under true burgundy magnus status and you are back on track for 5:4 ratio

 

[SSV]

1. you lost Burgundy Status means lost 5:4 status will be back to 5:2, in case want 5:4 pay fee of 35k and fall under true burgundy magnus status and you are back on track for 5:4 ratio

So whoever got m4b now is not really LTF.. right?
It’s only fee waived off based on burgundy status

Here we are assuming we want to maintain 5:4 Magnus for the next 20 years okay

 

[bing1309]

So whoever got m4b now is not really LTF.. right?
It’s only fee waived off based on burgundy status

Yes its an conditional LTF
the main reason given as LTF here is who has large points transfer close burgundy and move out. or who knows burgundy magnus value hold AQB and be with us.

 

[SSV]

Yes its an conditional LTF
the main reason given as LTF here is who has large points transfer close burgundy and move out. or who knows burgundy magnus value hold AQB and be with us.

Okay please keep it simple..
So it’s not real LTF… okay we got agreement until here..

Now case 2)

After this offer is closed:
I have opened a burgundy account and met the true burgundy status for say 3 months and eligible for 5:4 Magnus card and want to take that card , how much I need to pay fo that 5:4 card and assuming I maintain burgundy status for the next 20 years , what is my annual fee?

 

[bing1309]

Okay please keep it simple..
So it’s not real LTF… okay we got agreement until here..

Now case 2)

After this offer is closed:
I have opened a burgundy account and met the true burgundy status for say 3 months and eligible for 5:4 Magnus card and want to take that card , how much I need to pay fo that 5:4 card and assuming I maintain burgundy status for the next 20 years , what is my annual fee?

35k for now joining and renewal. next year renewal prices will go up or stay the same as per credit card demand

 

[H2O]

35k for now joining and renewal. next year renewal prices will go up or stay the same as per credit card demand

You bro works for Axis?

 

[SSV]

35k for now joining and renewal. next year renewal prices will go up or stay the same as per credit card demand

So what you are saying is inspite of maintaining 10l in sb account, to maintain m4b cc, we need to pay 35 K renewal fee in this case?
This is where I am saying market will decide it’s fate
My guess it will be doomed if this is the case

 

[bing1309]

So what you are saying is inspite of maintaining 10l in sb account, to maintain m4b cc, we need to pay 35 K renewal fee in this case?
This is where I am saying market will decide it’s fate
My guess it will be doomed if this is the case

yup that's what product manager said.

 

[bing1309]

You bro works for Axis?

Nope I am a customer in Axis just went through all of these questions etc with them

 

[H2O]

nope I am a customer in Axis just went through all of these questions etc with them

Okay cool.. 3

 

[SSV]

Nope I am a customer in Axis just went through all of these questions etc with them

okay.. some other points to discuss:

1) It is actually not LTF the customers are fighting for before the supposed offer ends.. Its only a conditional LTF... we agreed on this..

2) what is the gurantee that ,say after 6 months , AXIS won't come up and say no need of joining and renewal fee for 5:4 card as long as you maitain true burgundy status... ( which is effectively the same situation as of now).. in my view more likely...

No -one in right mind will maitain 10L SB balnce and pay 35K JF and AF for 5:4 card .. this is my view.. I am not the Market but I am part of the Market .

Thats is why in my initial post I said market will decide M4B fate...

It is just too complicated product and AXIS keeps chaning the goalpost while the game is still on, and no guarantee that it wont do it again in the future...

My point here is: whatever this conditional LTF( but being marketed as LTF) offer period ending and all that crap is just a marketing ploy...
In one/two year's time everything will be reveraled.. They just made abig mess.. and its taking hell a lot of time to clean this mess.....
Done for the night on this topic ...

 

[bing1309]

So what you are saying is inspite of maintaining 10l in sb account, to maintain m4b cc, we need to pay 35 K renewal fee in this case?
This is where I am saying market will decide it’s fate
My guess it will be doomed if this is the case

actually

okay.. some other points to discuss:

1) It is actually not LTF the customers are fighting for before the supposed offer ends.. Its only a conditional LTF... we agreed on this..

2) what is the gurantee that ,say after 6 months , AXIS won't come up and say no need of joining and renewal fee for 5:4 card as long as you maitain true burgundy status... ( which is effectively the same situation as of now).. in my view more likely...

No -one in right mind will maitain 10L SB balnce and pay 35K JF and AF for 5:4 card .. this is my view.. I am not the Market but I am part of the Market .

Thats is why in my initial post I said market will decide M4B fate...

It is just too complicated product and AXIS keeps chaning T& Cs and no guarantee that it wont do it in the future...

1. yes, that is the reason I am least bothered if I can get it I will or else bye-bye to the card.
2. yes we are seeing that with NEO MyZONE Indian oil etc cards so we dont know when what will happen,

for some yes not possible for some yes as long as transactions come and go out of accounts in lakhs no issues
market fate first Axis cards are great slowly capping downgrade etc is common on all cards so when an offer is thrown take it use and leave it
The T&C issue is there but they have good flexibility in card upgrades and hold 3 cards which is something that stands out. every bank has there own issues so just have to see

 

[vine]

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

Bhai,
Last question,
For the kind of spends less than 5L per annum, do you think Atlas better or M4B ?

 

[mastfun]

Bhai,
Last question,
For the kind of spends less than 5L per annum, do you think Atlas better or M4B ?

Just keep in mind that, Atlas is good if u travel more! Else it's not!

 

[SSV]

Bhai,
Last question,
For the kind of spends less than 5L per annum, do you think Atlas better or M4B ?

For you , as you need flight tickets, Atlas is better for that kind of spends

 

[Virgo]

EDGE REWARDS

edgerewards.axisbank.co.in

. . .

Thanks but this is not working for me. I have 372 MB points and overall 30k plus ER points. Placed an order through this portal and chose to pay by 372 points and balance amount by card. However, the points get deducted from the ER bucket of 30k and MB point balance of 372 remains as is. Am I missing something? I have 3 cards : Reserve, MB and Select