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

 

[CC-Muncher]

This Fear of Missing out is what Axis wanted to create with Magnus. Soon Magnus will disappear from Axis’s CC catalog and will make a come back after six months with severe devaluations.

 

[Harry1]

People are saying the pdf is photoshopped

I think they are right. As content is pretty weird.

 

[caabhi]

They converted my Magnus LTF easily

Do you hold salary account in Axis?

 

[Bugs Bunny]

People are saying the pdf is photoshopped

Let's call zubair of alt news to get the fact check done 😂2

 

[harshunlimited]

lo ji, tweet OP ne delete kar diya, let's hold our horses guys:

 

[CC-Muncher]

Do you hold salary account in Axis?

Does it matter now 😂😂😂😂😂😂😂😂😂😜

 

[Deleted member 9785]

lo ji, tweet OP ne delete kar diya, let's hold our horses guys:

View attachment 21992

lol.

 

[Deleted member 11974]

Does it matter now 😂😂😂😂😂😂😂😂😂😜

🤣🤣🤣🤣🤣🤣🤣

 

[anirban.choudhuryanirban.choudhury is verified member.]

Do you hold salary account in Axis?

No

 

[jack333]

@Alwàys_Bélîevé_Yøursélf🎯 ab tumhare Dhanda band ho jayega

Lol

He will give reserve now. Ab log burgundy salary account bhi band karwa denge jinhone LTF liya tha

 

[CC-Muncher]

Fake news... Wasted everyone's time
Jinke Paas Hai wo v pareshan aur jinke pass nahi wo v pareshan 😩

 

[sourpai]

5:1 on Airmiles and hotels is same as voucher redemption for Amazon Pay. Who will transfer points to hotels now?

At barebones, this card will give 6% reward rate for 1L spend per month, which is technically still better than Infinia

 

[Bugs Bunny]

Fake news... Wasted everyone's time
Jinke Paas Hai wo v pareshan aur jinke pass nahi wo v pareshan 😩

Confirm hogyaa?

 

[Deleted member 11974]

If this is true no person in a sane mind would squander 12k on fees just to convert his points at a 5:1 ratio.
Back to Amex reserve or citi premier.
On renewal will take vistara infinite back to basics

 

[CC-Muncher]

Confirm hogyaa?

Op deleted the tweet... Our axis guy also told not official.. Wait for Official news


Very first image itself is blurry... Looks photoshopped

 

[makman]

Now with this, magnus only gives best reward rate of 6.2% > 1 lakh spends. And best reward rate of 1.2 % for less than 1 lakh. Ace at 2% is much better than this. Why should I pay 10000+GST for this card (without any renewal benefit) when ace gives better value at 500?

 

[akil_av17]

It seems that Axis is actively promoting Magnus at the moment, and the significant devaluation of the product doesn't appear logical. However, it is possible to anticipate a gradual devaluation in the upcoming months. If the current news is indeed accurate, it would undoubtedly lead to disappointment among customers who have already acquired Magnus recently. It is unlikely that any bank would desire such a situation.

 

[Bugs Bunny]

View attachment 21988

Just ran my judicial/legal mind and this is poorly worded. Most probably is a fake news.

 

[thanix]

Is there any logic on the PP for lounge access in small airports? Is it because the tie up is with other vendor in metro airports like Dreamfolks?

 

[PiperatGatesofDawn]

Dear OP,

For the next few months, kindly sleep with one eye open.

Yours sincerely,
The entire f-ing TF Magnus Community