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

 

[bonheur]

Tried converting 50k points to krisflyer before transfer ratio is changed, but got error message and its saying i should wait for 15 days to get refund of points 😒

On the contrary, I just experienced the quickest points transfer to Vistara. Raised request for transfer last night at 10 and just got message from Travel Edge (~19 hrs) that transfer is complete.

 

[Thomas244]

so 🙂we go back to booking whatever hotel is close by to our destination. no need to stay at a Marriott 10 km away

 

[Harry1]

View attachment 22139

Ye bhi aayega jaldi hi.

I expect 1000 max cashback and 10 selected merchants for 5% category like Millenia😂.

 

[dj2006]

On the contrary, I just experienced the quickest points transfer to Vistara. Raised request for transfer last night at 10 and just got message from Travel Edge (~19 hrs) that transfer is complete.

Yes I too in just 1 day.

 

[magneto]

Guys IMO please redeem all your points because eDGE Rewards notice change will not be a month before. They will for sure send the notice a day before devaluation the same way they did for Grab Deals where they announced the 5K Rewards Cap just a couple of days before. Same thing is bound to happen with Transfer Ratio of Magnus. So please do not wait for any official notices.

P.S. This is just my opinion.

 

[sa16]

The devaluation news is true. Just called customer care, and asked if there's any devaluation coming (had gotten the card last month, already have a Select card ). Customer care executive, instead of just a yes or no, started mentioning all the devaluation notes that matches the screenshots posted, including the date this goes into effect.

 

[neogen]

Twitter pe bhi kahani shuru

 

[Ramakgmc]

Magnus proves to still be decent even if you spend < 15L annually.

Consider 6 months of milestone benefits achieved Annually - 6*25000 = 1.5L points
30k of Multiplier purchases (minimum/ month) from Gyftr, Travel Edge = 30k/200 * 12 * 5 = 9000/ m = 1.08L points Annually **
** Considering only 5x transactions of vouchers. 10k Amazon Pay, 10k Amazon Shopping, 5k Swiggy, 5k Anything else. Excluding any 10x options out there.
Average Spend for Annual year = 10L - 3.6L (Of multiplier already calculated) = 6.4 L = 38.4k points
For a 10L spend you end up getting = 2.96L points = 2.4 L of Club ITC green points.

You also end up paying 10k renewal fee.

This is the bare minimum possible. Is it worth it ? = Now that is subjective basis your lifestyle. Considering Flights are gone, that is a big blow. Not many would want to stay in ITC/ Marriott for no reason just to use the points.
BOGO, 8 Meet and Greet, Lounge access is additional.

What's extremely bad (sad) is - Reserve is completely hit. No1 would be paying 60k fee, for only Club ITC & Marriott benefits.

2.96L points would not yield 2.4L ITC green points. The ratio for hotels is also 5:1 I suppose.

 

[Deleted member 9785]

Guys IMO please redeem all your points because eDGE Rewards notice change will not be a month before. They will for sure send the notice a day before devaluation the same way they did for Grab Deals where they announced the 5K Rewards Cap just a couple of days before. Same thing is bound to happen with Transfer Ratio of Magnus. So please do not wait for any official notices.

P.S. This is just my opinion.

That will be like a hammer on the head. Dont think so

 

[Ramakgmc]

How many of us have read all the posts in this thread?
How many of us have marked the page and gotten back from where they ended?
FOMO is at work here too!!!

 

[rj_arora]

There is a leak on twitter regarding devaluation of Axis Magnus eDGE Rewards Travel Transfer wherein the ratio is changing from 5:4 to 5:1 by August 2023. Should we now redeem all points immediately?

The Joining/Annual benefits are also impacted wherein we will be receiving Luxe Gift Card/Postcard/Yatra Travel Voucher instead of the Tata Cliq Voucher. Ridiculous devaluations!

View attachment 22140

Aapka saabun slow hai kya?

 

[rj_arora]

T

TF me 10-15 log ka LTF hai

It's a very small number

 

[amitr29]

Followers badhane ki ninja technique?

Or

Ye koi tareeka hai bheekh maange ka?

View attachment 22134

Now such frauds will start happening 😂

 

[Consultant]

Guys, what is the effective date for transfer ratio change? I read 11th July in a post, 12th Aug in the pdf & Customer care told me 14th August.
Alag bakchodi chal rahi hai 😅

 

[Guessboy]

Can anyone share the pdf showing devaluation of reserve? Has customer care confirmed devaluation of reserve as well?

 

[Googix]

The devaluation news is true. Just called customer care, and asked if there's any devaluation coming (had gotten the card last month, already have a Select card ). Customer care executive, instead of just a yes or no, started mentioning all the devaluation notes that matches the screenshots posted, including the date this goes into effect.

Whats the effective date? 1 july or 14 aug

 

[amitr29]

Can anyone share the pdf showing devaluation of reserve? Has customer care confirmed devaluation of reserve as well?

It's all over Internet. Go to first post of this thread

 

[Consultant]

Can anyone share the pdf showing devaluation of reserve? Has customer care confirmed devaluation of reserve as well?

Yes. Customer care confirmed to me.
However, I asked thrice & they mentioned for Magnus & Reserve, the transfer ratio for Club ITC & Marriott will remain 5:4.
Can anyone call and re-confirm? Also they said date = 14th Aug. check both and revert someone. Thanks

 

[rohitnsync]

Yes. Customer care confirmed to me.
However, I asked thrice & they mentioned for Magnus & Reserve, the transfer ratio for Club ITC & Marriott will remain 5:4.
Can anyone call and re-confirm? Also they said date = 14th Aug. check both and revert someone. Thanks

New twist to the story

 

[sourpai]

There is some confirmation on Vistara App. Go to offers --> Partnership Exclusives --> Select Axis Edge