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

 

[Deleted member 9785]

There is some confirmation on Vistara website

View attachment 22150

ye kya abhi se live kar dia kya and conversion ratio changed ?

 

[sourpai]

ye kya abhi se live kar dia kya and conversion ratio changed ?

I can see this now in the Vistara App in offers and partner's section

 

[saketreddy]

 

[sa16]

Whats the effective date? 1 july or 14 aug

Talked again with customer care now. Confirmed as 12 Aug on this as well as previous call.

 

[PavanPavan is verified member.]

There is some confirmation on Vistara website

View attachment 22150

is this in app or website ?

 

[Harry1]

There is some confirmation on Vistara website

View attachment 22150

It has always been like this. Even before 1 year.

 

[amitr29]

I

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

I don't think customer care can confirm anything yet until it's officially circulated. They will lose their jobs.

I don't see any reason why Marriot or ITC will continue at 5:4. Infact, hotel transfers are much more expensive for credit card issuers than miles. Hence, you won't see many hotel transfer options.

 

[anirban.choudhuryanirban.choudhury is verified member.]

is this in app or website ?

In app they have updated website still shows 5:4 for HNI
May be it’s cached

 

[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

I called the customer care. 5:1 conversion rate is for all hotel and airline partners. No exceptions.

 

[anirban.choudhuryanirban.choudhury is verified member.]

It has always been like this. Even before 1 year.

Ok
Didn’t knew that
Then it’s fine

 

[Deleted member 9785]

Petition ka kya hua

 

[saketreddy]

Their app is basically extinct

In app they have updated website still shows 5:4 for HNI
May be it’s cached

 

[Harry1]

What is meant by lounges limits on priority pass? Will they now charge for visit via priority pass on other lounges or priority pass will simply not work?

I used to think priority pass have same tie-ups with every bank and only number of visits matter.

 

[PavanPavan is verified member.]

In app they have updated website still shows 5:4 for HNI
May be it’s cached

Oh 🙁 it might be old one right ?

 

[saketreddy]

Oh 🙁 it might be old one right ?

Pre travel edge era

 

[MOHITM]

Followers badhane ki ninja technique?

Or

Ye koi tareeka hai bheekh maange ka?

View attachment 22134

I have msgd this guy in afternoon but no reply yet.

Follower badhane ki trick lag rahi hai ye

I'll update here once he replies

 

[anirban.choudhuryanirban.choudhury is verified member.]

I have msgd this guy in afternoon but no reply yet.

Follower badhane ki trick lag rahi hai ye

I'll update here once he replies

Not sure about international but domestic I can share .
DM me

 

[CARDBITRAGE]

also, govt payment is a genuine spend.

Why are people saying tax payment is not a genuine spend?

one has to pay 0.5% extra as well as surcharge.

Tax payment is a spend. And you are absolutely right. I don't see what's wrong with being rewarded for tax payments. For those who are saying otherwise, I'm sure you would've done the same thing if you had the provision to pay advance tax. Besides, it's not illegal or unethical.

 

[manas_rock]

Maybe because you are paying tax by borrowing from someone?

I can take a personal loan and pay tax. Or, I may have money to buy a home- but use that money to pay tax- and instead take a home loan to buy a home.

Money is fungible.
Whether I use it for paying tax or buying an airline ticket- it is none of axis business.

 

[CMGCMG is verified member.]

I can take a personal loan and pay tax. Or, I may have money to buy a home- but use that money to pay tax- and instead take a home loan to buy a home.

Money is fungible.
Whether I use it for paying tax or buying an airline ticket- it is none of axis business.

It is axis business and they devalued it accordingly.