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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

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-- 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
 

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BhavyaDoshi said:
Has anyone been able to get magnus burgundy after 31st Jan?
I contacted them today and they said that they haven’t started the applications for paid version of MB, I don’t trust them so just confirming 🙃
Click to expand...
The agent took my docs on 29th Jan for the M4B (free version) and till today the tracker is not updated nor have I got an update. For the last 3 weeks, every week the RM keeps saying next week you will get the card. He also says they have received a lot of applications in the last week of Jan, so heavily tied down.
My guess is, that their systems are not updated to handle the 5:4 ratio and hence they have paused new issuance till that is fixed.
 
Upvote 0 Downvote
khaitan.rajesh29 said:
Yes, they have not yet figured out. I am also waiting for the same. God knows what's wrong with Axis bank.
Click to expand...
You mean they are not issuing m4b paid cards even if someone opens a burgundy account and fulfils the criteria to get the m4b paid card ?

I have the old Magnus card and I have spent close to 6 lacs last month with the hope to open a new burgundy account, get m4b and then transfer points at 5:4 ratio. Am I in trouble ?
 
Upvote 0 Downvote
BMR said:
You mean they are not issuing m4b paid cards even if someone opens a burgundy account and fulfils the criteria to get the m4b paid card ?

I have the old Magnus card and I have spent close to 6 lacs last month with the hope to open a new burgundy account, get m4b and then transfer points at 5:4 ratio. Am I in trouble ?
Click to expand...
Nope u r not. As usual axis is not crediting the points on time.
 
Upvote 0 Downvote
BMR said:
You mean they are not issuing m4b paid cards even if someone opens a burgundy account and fulfils the criteria to get the m4b paid card ?

I have the old Magnus card and I have spent close to 6 lacs last month with the hope to open a new burgundy account, get m4b and then transfer points at 5:4 ratio. Am I in trouble ?
Click to expand...
yes, they are not issuing as of now.
 
  • Wow
Reactions: BMR
Upvote 0 Downvote
khaitan.rajesh29 said:
yes, they are not issuing as of now.
Click to expand...
I just spoke to murgundy support. They say they are issuing M4B for eligible customers. There is no problem. But you need to apply via your RM (offline).

Any real instances or written communication where they have explicitly mentioned that they are not issuing new cards?
 
Upvote 0 Downvote
BMR said:
I just spoke to murgundy support. They say they are issuing M4B for eligible customers. There is no problem. But you need to apply via your RM (offline).

Any real instances or written communication where they have explicitly mentioned that they are not issuing new cards?
Click to expand...
Thats the problem with Axis bank customer care. They told me the same thing twice. I spoke to my RM and Branch manager thrice, they are saying that burgundy magnus CC is not being issued post Jan'24. They are still waiting for clarity as to when it will be rolled out again. Please check with your RM and update here if you get any different answer.
 
  • Sad
Reactions: BMR
Upvote 0 Downvote
BMR said:
I just spoke to murgundy support. They say they are issuing M4B for eligible customers. There is no problem. But you need to apply via your RM (offline).

Any real instances or written communication where they have explicitly mentioned that they are not issuing new cards?
Click to expand...
Yes, I have it on mail from Axis premium support on 8th March. They are not yet sourcing it.
Posted here:
www.technofino.in

Axis Magnus - Has Anyone Applied for Burgundy Magnus M4B with 30k Fee?

Has anyone applied for Magnus Burgundy by paying 30k + GST post LTF offer ended? I am contemplating to apply to clear out accumulated ERs at better rates. I don't see any clear update on Axis site or if are they even issuing M4B on paid basis? I have few redemptions plans in next month.
www.technofino.in www.technofino.in
 
Upvote 0 Downvote
BMR said:
I just spoke to murgundy support. They say they are issuing M4B for eligible customers. There is no problem. But you need to apply via your RM (offline).

Any real instances or written communication where they have explicitly mentioned that they are not issuing new cards?
Click to expand...
This could be a tactic to sell some ULIPs. Exercise caution.
 
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