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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
 

Attachments

Last edited:
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sourpai said:
Yes we get 0.8% in the current scheme of things as long as you hold MB... I don't have RBL and Indusind debit cards. I use this only
Click to expand...
How are you getting 0.8% return for ER points earned through magnus burgundy debit card?
For me, the ER point earned is 1%, but the ER -> MB point conversion which happens automatically as soon as I empty Magnus Burgundy points is only 0.44% percent( This number varies a bit but its always around 0.40 to 0.45%)

I do hold Magnus Burgundy credit card and I had gotten 5:4 conversion for all previous Edge Reward points. But once I started using Magnus Burgundy Credit Card the ratio has slumped to 0.44%.
 
Upvote 0 Downvote
ankitfintech said:
How are you getting 0.8% return for ER points earned through magnus burgundy debit card?
For me, the ER point earned is 1%, but the ER -> MB point conversion which happens automatically as soon as I empty Magnus Burgundy points is only 0.44% percent( This number varies a bit but its always around 0.40 to 0.45%)

I do hold Magnus Burgundy credit card and I had gotten 5:4 conversion for all previous Edge Reward points. But once I started using Magnus Burgundy Credit Card the ratio has slumped to 0.44%.
Click to expand...
What exactly is 0.44%?

Once you empty MB bucket, ER flows into MB (sometimes full sometimes partial... ratio here is not important)... Keep transferring whatever comes in MB bucket at 5:4 in multiple transactions... It will be at 0.8% only as overall reward points are not reducing anywhere for ratio to come down
 
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sourpai said:
What exactly is 0.44%?

Once you empty MB bucket, ER flows into MB (sometimes full sometimes partial... ratio here is not important)... Keep transferring whatever comes in MB bucket at 5:4 in multiple transactions... It will be at 0.8% only as overall reward points are not reducing anywhere for ratio to come down
Click to expand...
To give you concrete example, let me attach two photos.
I had 2124 MB points and 3510 ER points. I transferred 2100MB points to Accor.
Just after the transaction, 2100 points got replaced by 972 MB points and balance ER and MB points became 1410 and 996 respectively.
This means 972/2100 ie 0.46% conversion ratio. And 0.8% is applied on this 972 points. So its effectively ~0.36% for Magnus Burgundy ER points.


Dont you guys see this? Am I the only one whose ER to MB conversion doesnt take place at 1:1 ratio???
 

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Upvote 0 Downvote
Actually MB points are subset of ER points. So you had 2124 MB points and 3510-2124=1386 unique ER points

After you transferred 2100 MB, you got 24+972 = 996 MB and ER became 1386-972=414

So your total ER bucket is now 414+996 = 1410

All numbers are matching 😎
 
Upvote 2 Downvote
Ankit13 said:
I tried this points plus pay order but 12 points again came to MB. Tried with higher no of points also but same issue. Any tips to make it work?
Click to expand...
Don't try to spend the points to buy vouchers. they will not become zero as you just found out.

you have to increase the points beyond 300 and then spend them
 
Upvote 0 Downvote
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
 
Upvote 0 Downvote
iamfaisy said:
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
Click to expand...
Transfer all that you can asap. We dont know what axis is coming up with after the update
 
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