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

---

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

 

[CardsHoarder]

Has anybody received magnus for burgundy with just one OGS? They asked to check with premium banking support but apparently I am still not eligible despite maintaining 10L balance last couple of months.

 

[bing1309]

Has anybody received magnus for burgundy with just one OGS? They asked to check with premium banking support but apparently I am still not eligible despite maintaining 10L balance last couple of months.

3 month AQB must reflect under AQB section in your ogs with burgundy status. Its not balance check AQB value it must be more than 10l

 

[ankurarora898]

No was asked to check back on 24

yes they told me they are updating list on 23rd

 

[rohitb]

No. Planning to call after 24th Jan once my salary for Jan is credited. Started getting salary in Axis Burgundy savings account from December, So waiting for 2nd salary credit.

Badi jaldi credit ho jaati hai salary.

 

[rohitb]

Trying to transfer edge rewards but the traveledge portal is only allowing me to transfer the number of miles lying burgundy magnus but not allowing me to transfer the edge rewards which has more miles compared to burgundy magnus.Neither it is combining them.Any solution?

For me it's opposite. It's only allowing me to tx edge miles balance when burgundy has far more points. And i am following up since 2 months , now they have stopped sending boiler plate responses as well.

 

[jab]

Has anybody received magnus for burgundy with just one OGS? They asked to check with premium banking support but apparently I am still not eligible despite maintaining 10L balance last couple of months.

Yes, i had magnus approved with just one OGS( Just November Month), But i did put in a substantial amount (temporary) to make that quarter(OCT-NOV-DEC) AQB to be above 10 Lakhs. Even though my account Started in (November) was new, the saving account balance covered 3 months average 10 L

 

[CardsHoarder]

3 month AQB must reflect under AQB section in your ogs with burgundy status. Its not balance check AQB value it must be more than 10l

I could not find AQB number in OGS. What is the text to find? I see average balance is present.

 

[bing1309]

I could not find AQB number in OGS. What is the text to find? I see average balance is present.

That's the balance before going into account transaction below account number you get the details of Aqb

 

[ishaangarg]

I was asked to call on 26th, apparently by 25th Jan they will have an updated list of eligible customers for MB

 

[Ankit13]

Finally got upgraded to BM! Axis sure does test the patience!

 

[sushantk]

Finally got upgraded to BM! Axis sure does test the patience!

I got the upgrade too. They have updated their eligibility data based on DeC 2023 OGS.

 

[Rags]

I got the upgrade too. They have updated their eligibility data based on DeC 2023 OGS.

Is it a free upgrade ?

 

[Oscar]

If not salary account, is it mandatory to maintain a balance of 10 lakhs in the account to qualify for the Magnus Burgundy status? Once the status is obtained, is there an obligation to maintain this balance?

 

[sushantk]

Is it a free upgrade ?

It's LTF, yes.

 

[bing1309]

If not salary account, is it mandatory to maintain a balance of 10 lakhs in the account to qualify for the Magnus Burgundy status? Once the status is obtained, is there an obligation to maintain this balance?

Yes once you get your magnus burgundy status they will keep a check on you if not qualified they will downgrade after 6 month in first 3 month they will check later send mail in 4th to 6th they will final check and if not maintained they will downgrade
Burgundy magnus is CLTF not LTF

 

[CardsHoarder]

I got the upgrade too. They have updated their eligibility data based on DeC 2023 OGS.

Thank you for very useful update!

 

[tdot]

Finally Upgraded to Magnus Burgundy I don’t think I’ve ever had to sweat so much for a CC.
Got Sbi wealth select dispatched today too. It’s nothing but stillfeelgood.jpg

 

[Prav]

Urgent help please tell if Magnus burgundy gives edge points on jewellery transactions?

 

[nikhilesh71]

I got my magnus upgraded to M4B today. Maintained 10 lakhs AQB in last 3 months.

 

[Rags]

Urgent help please tell if Magnus burgundy gives edge points on jewellery transactions?

yes, i did and got a month back