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

 

[khaitan.rajesh29]

is LTF offer still available?

I just read the Burgundy magnus terms. LTF is not available now. For 30k plus joining fees, they are giving peanuts by giving Rs 5k voucher. They have just ruined the card now. I really doubt anyone will want to purchase for 305k with just 5k joining benefit.

https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/magnus-credit-card-for-burgundy-faq.pdf

 

[navam]

I just read the Burgundy magnus terms. LTF is not available now. For 30k plus joining fees, they are giving peanuts by giving Rs 5k voucher. They have just ruined the card now. I really doubt anyone will want to purchase for 305k with just 5k joining benefit.

https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/magnus-credit-card-for-burgundy-faq.pdf

Chalo this means LTF ke liye khoon pasina bahana walon ki jeet hui. Congrats to all the folks who got one.

PS: main andar hi andar jal raha hun 🥲

 

[rogerthat]

I just read the Burgundy magnus terms. LTF is not available now. For 30k plus joining fees, they are giving peanuts by giving Rs 5k voucher. They have just ruined the card now. I really doubt anyone will want to purchase for 305k with just 5k joining benefit.

https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/magnus-credit-card-for-burgundy-faq.pdf

I think it is better that Axis simply wind up their credit card business. They just don't know how to run this business. Haven't seen such a clueless bank!

 

[khaitan.rajesh29]

Chalo this means LTF ke liye khoon pasina bahana walon ki jeet hui. Congrats to all the folks who got one.

PS: main andar hi andar jal raha hun 🥲

Me too

I think it is better that Axis simply wind up their credit card business. They just don't know how to run this business. Haven't seen such a clueless bank!

Their Products team is like "Chalo aaj kuch toofani karte hain"

 

[shashank08]

Me too

Their Products team is like "Chalo aaj kuch toofani karte hain"

or wo toofaani actually Chuti**pa ban jaata hai.. 🤣 🤣

 

[Prav]

If we upgrade existing Magnus to m4b in feb will it be chargeable ?

 

[khaitan.rajesh29]

If we upgrade existing Magnus to m4b in feb will it be chargeable ?

Yes, it will be chargeable and you also need to have Burgundy account.

 

[Prav]

Yes, it will be chargeable and you also need to have Burgundy account.

🤣 m not eligible cz I burgundy private

 

[sourpai]

🤣 m not eligible cz I burgundy private

Then you can have Burgundy Private Card! Why bother about Magnus Burgundy?

 

[Prav]

Then you can have Burgundy Private Card! Why bother about Magnus Burgundy?

No I can’t cz i am secondary in family only 1 member can have burgundy private card in a family

 

[khaitan.rajesh29]

No I can’t cz i am secondary in family only 1 member can have burgundy private card in a family

Dont worry, Axis has made Magnus useless now anyways.

 

[SteelSh0t]

Is anyone getting ER points since 25th Jan?

 

[sourpai]

No … not getting any ER points for MB card since few days. Getting for DC and Select though. I believe some system upgrade is going on in the backend as per what @drsel reported

 

[kapsshah42]

All new rewards are getting credit in edge rewards in spite of using Magnus burgundy card whereas burgundy rewards are below 100.What to do?

 

[drsel]

No … not getting any ER points for MB card since few days. Getting for DC and Select though. I believe some system upgrade is going on in the backend as per what @drsel reported

Even we have not reward points on Magnus burgundy and Atlas since 25 Jan.
I think the points will start coming only after 8th of February.
What is DC ? debit card?

 

[sourpai]

Even we have not reward points on Magnus burgundy and Atlas since 25 Jan.
I think the points will start coming only after 8th of February.
What is DC ? debit card?

Yes Burgundy debit card…

 

[drsel]

Yes Burgundy debit card…

Do you get edge points if you use plain Burgundy debit card (not private) to pay credit card bills?

 

[Ravana_88]

Do you get edge points if you use it to pay credit card bills?

yes . 1% . I pay on mobikwick to get this

 

[drsel]

yes . 1% . I pay on mobikwick to get this

I mean the plain burgundy debit card which comes free with any burgundy savings account.
Do you get one percent points which is 0.8% return on paying axis credit card bills?

 

[Ravana_88]

I mean the plain burgundy debit card which comes free with any burgundy savings account.
Do you get one percent points which is 0.8% return on paying axis credit card bills?

yes . Mine is plain burgundy only ( got it due to salary criteria )