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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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sankar7000 said:
Also if I have INFINIA, Is there any reason to buy vouchers et al using Magnus? Any reason why I should spend in Magnus if I hold Infinia? I cannot think of any one reason.... Please advise
Click to expand...
How come 2. 96 lac ER get to 2.4 lac club ITC green points as post devaluation it will fetch only 5:1

"
For a 10L spend you end up getting = 2.96L points = 2.4 L of Club ITC green points.
"
 
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Walter White said:
The fact is about the fact how arrogantly Axis Bank behaved with people. They thought they can do whatever they want unless you involved RBI into it. I never complained about their products. If I pay a good annual fee, I'll also expect good customer service. Though I missed out on the Magnus party. 😛
Click to expand...
People also tried to use all kinds of loopholes. They’re a business and this was bound to happen
 
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1RC said:
So ICICI Amazon pay card gives high credit limit? Is this true? I don;t have amazon pay card so I don't know. I am curious. How come they are ok to give unreasonable credit limits?
Click to expand...
Ya they gave me a hike from2lkhs to 6.7lakhs in icici Amazon pay a year back. Using this card past 2.5 yrs
 
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Ab
Akio said:
Hello Axis Magnus Users 👋🏻

This is a lesson for all to keep your mouth shut and enjoy the rewards.

People promoted this card left and right to get attention on social media, resulting in too many users, and eventually causing these devaluations.
Click to expand...
Absolutely agree. And those uncalled comparisons with Infinia. Infinia is still there, difficult to get and Magnus dies all of a sudden.
 
Upvote 0 Downvote
CD. said:
HNI cards meant people with high income. Here axis foolishly diluted this and started focusing on existing 4 lac limit which cards like amazon pay give to people with low income too.
Click to expand...
Hni are not much compared to people like us. Hni demands are so big even banks shit in their pants. They can't fulfill and make too much money from there . As lot of fee waiver happens on chgs and banks make and compensate money on us. One word by HNi I will trf funds to other bank all the management's run helter skelter. Believe me HNI know the weakness of banks and very very smart. Even without bank k owing what is happening HNi trf and request funds trf on various small issues before banks realise half the funds are out . Does not impact of Magnus is given C2C or anyhow. Banks create the demand and wanting to increase volume once done devaluation starts.
 
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Walter White said:
Magnus and Reserve Card holders to Amex after devaluation:

View attachment 22113
Click to expand...
I hear you loud and clear. Haha.

I'm in the midst of negotiating a mid year benefit from Amex Plat, after telling them in no uncertain terms, what a $h!t show they've turned Plat into, because of which I plan to give away my Plat., when the 'Magnetic' Magnus is killing them.

Waiting for them to revert + hoping for a better deal during renewal.

S&M
 
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Kya lagta hai Magnus devaluation sach hai ya ek mazak ?

Mujhe lagta hai Axis wale aise he review lene k liye jann bujh k leak kiye hai.

Baki baad me modify karega kuch ya philhal postpone kar dega.
 
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