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]

I spoke with Axis CC yesterday; they raised a ticket, and I received the AEP for January today. I understand it's a technical issue, and some are receiving it and some are not. Whoever not recieved they are raising ticket and resolving.

 

[baba123]

I spoke with Axis CC yesterday; they raised a ticket, and I received the AEP for January today. I understand it's a technical issue, and some are receiving it and some are not. Whoever not recieved they are raising ticket and resolving.

I called as well. They said that many customers are highlighting this issue and it will be resolved before the month ends. Didn't raise an individual ticket.

 

[harshar]

Once he redeems all 187K points and makes MB bucket zero, then remaining points will come to MB bucket (either all at once or in batches). It wont happen before that

thank you for clarifying
so if I understand correctly, if I have 40k MB and 100k ER, then I actually have 100k MB of which 40k are in MB bucket. As I move out these 40k, the remaining 60k ER should start moving to MB bucket, in parts. Is that right?

 

[live_and_let_live]

As I move out these 40k, the remaining 60k ER should start moving to MB bucket, in parts. Is that right?

ideally yes. but not guaranteed. MB points gets topped up for a while and then it stops.

 

[SteelSh0t]

I got the AEP spends for Jan today without calling Axis CC or raising a ticket.

 

[BhavyaDoshi]

I have almost 3L AEP which I am entitled to get on my magnus transactions which I did in the month of feb

By when can I expect the AEP for Feb, I hope its before 20th April 🙃🙃

 

[himanshu15]

Magnus devaluation message received again. Not sure whether its for MB or not.
My magnus is not burgandy magnus.

Some of the features and Terms and Conditions on your Axis Bank Credit Card no. XXXX will be revised w.e.f. 20-04-24. For details, visit Axbk.in/XlbjqhvYXZq

 

[Rags]

I have almost 3L AEP which I am entitled to get on my magnus transactions which I did in the month of feb

By when can I expect the AEP for Feb, I hope its before 20th April 🙃🙃

You will recieve for Feb, I am worried for March AEP. Writing to axis yo credit before April 20 let's see

 

[hrish88]

what is the use of points.i have 275000 points in Edge rewards and 800 in Magnus burgundy.if axis doesn't fix the bug before 20th April these will be of no use.i

 

[mastfun]

Burgundy Magnus Deval Axbk.in/Xlw2kzdcdtF

 

[mastfun]

Moving my 10L and closing account 🙂 It's really unfortunate that people fell for their scam [They achieved year end account opening target]

 

[Viper1057]

Burgundy Magnus: Axbk.in/Xls6D2VLFUL

 

[RupayMan]

Axis festival starts today guys, enjoy Devaluation Diwali in March itself. 🔥🔥🔥🧨

 

[mastfun]

Congratulations guys 👏

 

[rogerthat]

Congratulations to all those who fell for Axis' great Magnus for Burgundy scam. You've been served! 😂

 

[Swastik]

I'm throughly pissed with Axis now
,was considering renewing Magnus for Lounge , Meet & Greet ,Guest access

But now ,it's all gone to hell

Will cancel before renewing

 

[COmM4nDer]

Ab bacha kya? 50k spend for lounge.

 

[SteelSh0t]

The edge rewards are still the same right?

 

[Harry1]

Moving my 10L and closing account 🙂 It's really unfortunate that people fell for their scam [They achieved year end account opening target]

Magnus for Burgundy is not too bad. It's just the extra parts that have been devalued. Didn't find much value in them anyway.

BMS BOGO remains unused because so many cards. M&G is useless on Bangalore airport (just a porter). Guest Access on priority pass is again good enough for 4 visits.

2L Edge points required 10L+ spends even if u do it in single month, 30L+ otherwise. So, even this cap is not affecting me.

No rewards in fuel, insurance and jwellery was again expected and long due.

I am happy that they targeted people with spends in 30L+ and didn't touch the core reward rate.

 

[MayankBamboria]

Axis fuckin up all its cards, Magnus, Atlas, Vistara cards are all done now. Charging so much for these cards and no benefits, and we all know about their services. 🫡🫡