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

 

[drsel]

Tried that as well. MB points are not being credited since last few days.

Axis is upgrading the software from 1--7 Feb
points will come after 10 Feb for Magnus Burgundy and Atlas

 

[Ankit13]

Axis is upgrading the software from 1--7 Feb
points will come after 8 Feb for Magnus Burgundy and Atlas

Lets see if they make it better or worse

 

[drsel]

Lets see if they make it better or worse

They are expected to disable 5:4 ratio for non Burgundy cards

 

[iamfaisy]

After M4B Upgradation, i am able to see magnus Burgundy! conversion ratio 5:4.. But out of 7 lakh reward points, I am only able to redeem around 7.5k point per transaction and each time same points from ER point crediting to Burgundy points... transferred more than 10 times now..
How long this will continue..Any idea..
Should i wait for the system updation from Backend team to redeem at a stretch or empty the points now (need to redeem 90-100 time to empty all ponits, 7.5k points each)..
Also i had used old Magnus card in last few days (before activating new card)..Will those points be credited as a seperate Magnus Burgundy Bucket and trouble me with redemption?Please guide me.. Thank you

 

[Ankit13]

After M4B Upgradation, i am able to see magnus Burgundy! conversion ratio 5:4.. But out of 7 lakh reward points, I am only able to redeem around 7.5k point per transaction and each time same points from ER point crediting to Burgundy points... transferred more than 10 times now..
How long this will continue..Any idea..
Should i wait for the system updation from Backend team to redeem at a stretch or empty the points now (need to redeem 90-100 time to empty all ponits, 7.5k points each)..
Also i had used old Magnus card in last few days (before activating new card)..Will those points be credited as a seperate Magnus Burgundy Bucket and trouble me with redemption?Please guide me.. Thank you

Transfer all that you can asap. We dont know what axis is coming up with after the update

 

[iamfaisy]

Transfer all that you can asap. We dont know what axis is coming up with after the update

Ok thanks bro..Will transfer ASAP.. Any idea on using old Magnus till deactivation? ER points earned on that card will come to seperate Burgundy Basker or ER points?

 

[Deleted member 9785]

Lets hope they dont do a SBI and clawback points or charge cash back

 

[BhavyaDoshi]

Has anyone been able to apply for any axis credit card through offline channel?
Yesterday my RM sent over a credit card guy as I wanted to apply for MB, the guy completed few steps and there was one section where he has to put something called ‘promo code’. He said that there is no option reflecting there and he cannot proceed with the application for the next 2-3 days till the server side issue has been fixed 😬

First struggle to get your account upgraded to burgundy, then struggle to understand the eligibility and make your RM understand about their own FAQ’s and lastly struggle to apply for the credit card for which they charge 30k.
Hats off to Axis 🫡

 

[sid16]

Today they told me that it will take upto 15 days for MB points to get credited. It seems they are taking longer and longer to credit even base reward points. And by end of the month their vendor will resolve the technical glitches. All I know is that as soon as my MB bucket is above 300, I will start transferring them to Accor.

 

[sid16]

Meanwhile, Burgundy debit card ER points are being credited within 2 days.

 

[Riva]

Has anyone been able to apply for any axis credit card through offline channel?
Yesterday my RM sent over a credit card guy as I wanted to apply for MB, the guy completed few steps and there was one section where he has to put something called ‘promo code’. He said that there is no option reflecting there and he cannot proceed with the application for the next 2-3 days till the server side issue has been fixed 😬

First struggle to get your account upgraded to burgundy, then struggle to understand the eligibility and make your RM understand about their own FAQ’s and lastly struggle to apply for the credit card for which they charge 30k.
Hats off to Axis 🫡

I did it on 29th Jan. My RM sent the agent to my home and he did everything in front of me, but the status in the tracker is still showing as pending. I contacted the agent and he is not sure why it's stuck. I don't know if they have backlogs of requests or it's system issues. They have been updating systems till 7th Feb.

 

[Riva]

Meanwhile, Burgundy debit card ER points are being credited within 2 days.

Yes, while ER points for Burgundy debit card spends gets credited in 2 days, the 100 ER points for credits of 1Lac and above get credited only after more than a month.

 

[drsel]

Yes, while ER points for Burgundy debit card spends gets credited in 2 days, the 100 ER points for credits of 1Lac and above get credited only after more than a month.

Why use a Burgundy debit card at all?

 

[iamfaisy]

For those who are trying to make their burgundy basket to zero, try below method. .I dont know whether it will work or not..Check the screenshots
My scenario: Upgraded to M4B, Burgundy points are being redeemed as in baches of 6 to 7.5k points on each transaction and similar amount of ER points are coming as Burgundy Points..No way to redeem ER points directly..So far redeemed around 3.5 lakh...more than 3.5 lakh pending, redemption going on..getting 5:4 ratio

Steps for the hack: Select your partner for the redemption.. Select your Burgundy points.. you will be able to see points as per 5:4 ratio..(in my case, 6492 Burgundy points are available... out of which 6400 is redeemable to 5120 points)
Click on the right side (5120).. Enter any amount more than in the left side (6400) and press the enter key/forward key in keyboard or mobile..
You will get msg as in my screen shot... "Maximum value must be less than 6492"..In left side you can see 6492 points and in right side i am getting 5193 points..redeem it as usual..
In my case again 6492 points got credited..
But you may get lucky and get your Burgundy Bucket to zero..

Try it guys and let me know if it works or not😉😉

 

[jonamdhar]

Why use a Burgundy debit card at all?

Credit card bill payments

 

[Harry1]

For those who are trying to make their burgundy basket to zero, try below method. .I dont know whether it will work or not..Check the screenshots
My scenario: Upgraded to M4B, Burgundy points are being redeemed as in baches of 6 to 7.5k points on each transaction and similar amount of ER points are coming as Burgundy Points..No way to redeem ER points directly..So far redeemed around 3.5 lakh...more than 3.5 lakh pending, redemption going on..getting 5:4 ratio

Steps for the hack: Select your partner for the redemption.. Select your Burgundy points.. you will be able to see points as per 5:4 ratio..(in my case, 6492 Burgundy points are available... out of which 6400 is redeemable to 5120 points)
Click on the right side (5120).. Enter any amount more than in the left side (6400) and press the enter key/forward key in keyboard or mobile..
You will get msg as in my screen shot... "Maximum value must be less than 6492"..In left side you can see 6492 points and in right side i am getting 5193 points..redeem it as usual..
In my case again 6492 points got credited..
But you may get lucky and get your Burgundy Bucket to zero..

Try it guys and let me know if it works or not😉😉

U were able to click on transfer after getting 6492 option? For me, it is not getting clicked after that.

 

[Thomas244]

Meanwhile, Burgundy debit card ER points are being credited within 2 days.

That’s increasing edge rewards but MB bucket same

 

[Thomas244]

Has anyone been able to apply for any axis credit card through offline channel?
Yesterday my RM sent over a credit card guy as I wanted to apply for MB, the guy completed few steps and there was one section where he has to put something called ‘promo code’. He said that there is no option reflecting there and he cannot proceed with the application for the next 2-3 days till the server side issue has been fixed 😬

First struggle to get your account upgraded to burgundy, then struggle to understand the eligibility and make your RM understand about their own FAQ’s and lastly struggle to apply for the credit card for which they charge 30k.
Hats off to Axis 🫡

I have applied offline 2 days ago got allotted application number. No progress after that

 

[sid16]

Why use a Burgundy debit card at all?

For 1% ER points..

 

[iamfaisy]

U were able to click on transfer after getting 6492 option? For me, it is not getting clicked after that.

Yes.. I was able to click it.. Transfer now option was available for me, and redeemed it through website.. And my Burgundy points was showing zero (screenshot)..I thought this will work for everyone 😑😑