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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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I've a doubt regarding Magnus Lounge Access,

I devaluation paper says only 10 lounges in india can be accessed via Priority Pass

But people seem to be using Magnus PP for any & every lounge ,even taking guests ,

Can anyone explain this ?

I'm scared to used Magnus PP in india ,what if they charge it on my card!
 
Upvote 0 Downvote
Swastik said:
I've a doubt regarding Magnus Lounge Access,

I devaluation paper says only 10 lounges in india can be accessed via Priority Pass

But people seem to be using Magnus PP for any & every lounge ,even taking guests ,

Can anyone explain this ?

I'm scared to used Magnus PP in india ,what if they charge it on my card!
Click to expand...
If u r afraid of getting caught, don't exploit the loopholes 😅.
 
Upvote 0 Downvote
Swastik said:
I've a doubt regarding Magnus Lounge Access,

I devaluation paper says only 10 lounges in india can be accessed via Priority Pass

But people seem to be using Magnus PP for any & every lounge ,even taking guests ,

Can anyone explain this ?

I'm scared to used Magnus PP in india ,what if they charge it on my card!
Click to expand...
I might be misunderstanding your statement but I believe that T&C means using your Priority pass card to access a lounge within India is limited to the 10 lounges mentioned. The other lounges + guest visit should be accessed by swiping your Magnus card directly for authorisation.

Regardless, I think lounge receptionists can normally see whether you will be charged for access so you should get that info before you confirm your entrance.
 
Upvote 0 Downvote
CMG said:
They can't. I asked. Also, Axis charges for all priority pass visits and then refunds it.
Click to expand...
I see. I assume you are talking about Priority Pass visits only? Because for the credit card swipes, you need to enter a PIN to authorise which shows either a 2Rs, 25Rs or full lounge charge depending on your card variant/visits left etc.
 
Upvote 0 Downvote
abhim said:
I see. I assume you are talking about Priority Pass visits only? Because for the credit card swipes, you need to enter a PIN to authorise which shows either a 2Rs, 25Rs or full lounge charge depending on your card variant/visits left etc.
Click to expand...
Credit card, they can see. Priority pass, they can't. They specifically mention this when I swipe priority pass in a nearby airport.
 
Upvote 0 Downvote
Harry1 said:
U literally mentioned that it is not allowed as per September devaluation notice. So, if it is not getting charged yet, it's a loophole/bug. Not sure what more u want to know.
Click to expand...
It gets charged and then charges get refund ,

All I'm asking is that is there something I'm not aware of ?
 
Upvote 0 Downvote
Swastik said:
It gets charged and then charges get refund ,

All I'm asking is that is there something I'm not aware of ?
Click to expand...
You r aware about everything.

There r 2 potential issues here - Axis can charge again anytime saying accounting problem and believe it, axis can and has full rights for the same 😅.

Second is they won't charge old transactions, but can fix it sometime in future and they don't need to announce it, as it's not a card feature anyway. And we won't know it until 3-4 months when one random guy will report that I got charged and not got refund 🤣.

There are several bugs in Axis. Some r fixed, some r still getting exploited, but all those have associated risks. And if I understand it right, you understand all these risks 😜.
 
Upvote 0 Downvote
Swastik said:
Even for domestic lounges ?

Can i swipe ,take guests and will get refund ?
Click to expand...
Never tested in domestic terminals that are not from the approved list. Maybe it is going through. The charges comes to the statement only after 90 days. Axis can later charge for these visits. So its better to stick to international terminals in India and the approved domestic lounges for priority pass.
 
Upvote 0 Downvote
Swastik said:
It gets charged and then charges get refund ,

All I'm asking is that is there something I'm not aware of ?
Click to expand...
Apart from the 10 domestic Indian lounges.
Magnus PP can be used at all international terminals in India. (Where Dreamfolks no longer work - your Magnus credit card)

I have already posted screenshot in TF on getting confirmation from premium experience that it can be used in international terminals in India without any charges.
 
Upvote 0 Downvote
MilesMax said:
Apart from the 10 domestic Indian lounges.
Magnus PP can be used at all international terminals in India. (Where Dreamfolks no longer work - your Magnus credit card)

I have already posted screenshot in TF on getting confirmation from premium experience that it can be used in international terminals in India without any charges.
Click to expand...
That's helpful ,because Axis cards don't work at international terminals in india
 
Upvote 0 Downvote
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