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

 

[Rags]

Have folks received any points for transactions done on Magnus Burgundy after 25th Jan?

expected by 1st week of march, as per CC

 

[Lobogris]

Have folks received any points for transactions done on Magnus Burgundy after 25th Jan?

No one has.

 

[ankitfintech]

expected by 1st week of march, as per CC

Wow. WTF they are planning now.. 1.5 months me toh pura website likh sakte inka..

 

[Deleted member 9785]

Wow. WTF they are planning now.. 1.5 months me toh pura website likh sakte inka..

after a week they will say 31st march. It has become a JUMLA like 15 l

 

[Ankit13]

after a week they will say 31st march. It has become a JUMLA like 15 l

I have raised a complaint with them via email and if it doesn't get resolved within 30 days, I will take it to the RBI. I think all of us should do that.

 

[Deleted member 9785]

I have raised a complaint with them via email and if it doesn't get resolved within 30 days, I will take it to the RBI. I think all of us should do that.

yes if 1000s of people do it can work or start a petition

 

[Ankit13]

yes if 1000s of people do it can work or start a petition

For RBI Ombudsman, we don't need 1000 people to complain. They will resolve it even for 1 person. But yes, it will put pressure on Axis if more people complain and resolution will be fast and fair.

 

[Deleted member 9785]

For RBI Ombudsman, we don't need 1000 people to complain. They will resolve it even for 1 person. But yes, it will put pressure on Axis if more people complain and resolution will be fast and fair.

no of RBI complaints is a part of annual financial statements report, so they avoid it

 

[sousnake]

Don't have magnus, but I haven't received any ER points on txn done via select & privilege credit card post 20 Jan😭
Not sure what Axis is up to 🤔

 

[rogerthat]

Was trying to buy some Swiggy vouchers from Gift Edge using Magnus today and got this. The transaction failed. Magnus BIN.

 

[MilesMax]

I already tried that, but that doesn't work, as traveledge won't allow edge points until magnus burgundy reach zero even for direct flight and hotel bookings.

BTW, just tried with point and pay option and it worked like a charm😁. Placed cheap product with just enough points to bring MB to 0, paid rest via card. It brought MB to 0, transferred all remaining edge points to Accor, then cancelled points plus pay order and edge balance used for points plus pay is credited back instantly. Cash part is not credited yet, but got a mail saying it will be credited within 7 days. So, this is superb alternative 🤣. All within 5 mins.

Does this still work?
Stuck with 3 pts on MB bucket.

 

[Harry1]

Does this still work?
Stuck with 3 pts on MB bucket.

I didn't need it again yet, so no idea. It should ideally.

But as I have told many times, none of these will work, if u don't understand the logic behind MB points calculation and where those 3 points are coming from 😅.

 

[Ankit13]

I didn't need it again yet, so no idea. It should ideally.

But as I have told many times, none of these will work, if u don't understand the logic behind MB points calculation and where those 3 points are coming from 😅.

Can you explain the logic?

 

[Harry1]

Can you explain the logic?

I have explained in detail here and shared the link multiple times here and there. But so far I haven't seen anyone being able to understand or acknowledging it😉.

Axis Magnus - Rumor with burgundy axis magnus could be LTF (by Sep 2023 it should be official by axis i think you never know though)

Just received confirmation from bank officials that they will provide Magnus LTF for Burgundy customers from Sep 1st onwards

www.technofino.in

 

[MilesMax]

I didn't need it again yet, so no idea. It should ideally.

But as I have told many times, none of these will work, if u don't understand the logic behind MB points calculation and where those 3 points are coming from 😅.

Now I need to wait till I have atleast 100 pts to redeem it against hotel booking.
I guess nothing can be done till more points are credited.

 

[khaitan.rajesh29]

Was trying to buy some Swiggy vouchers from Gift Edge using Magnus today and got this. The transaction failed. Magnus BIN.

View attachment 43329

I had also tried to purchase one gv of other brand and it was not going through with Magnus CC..dont know whats wrong with Axis.

 

[purush]

Me also got the error, risk rule violation

 

[Rags]

I have called the customer care for pending M4B ERs since Jan 24...they confirmed new date as 1st week of March, though they will try soon.

 

[Rahul92]

The apply button for add on card in axis application works or not? Asking because , tried to apply add on M4B , that didn't go through due to some error. RM says there is some snag in online application process. While , issue raised at pno level just keeps on asking for MORE TINE since 1.5 month

 

[warden]

Has anyone got December's Accelerated Points, but not for november. December was credited on 15 Feb for me, but november is still not credited. Hopefully by end of month should I expect