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

 

[CMGCMG is verified member.]

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.

They can't. I asked. Also, Axis charges for all priority pass visits and then refunds it.

 

[Harry1]

Not looking for loopholes ,just genuinely want to know

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.

 

[abhim]

They can't. I asked. Also, Axis charges for all priority pass visits and then refunds it.

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.

 

[CMGCMG is verified member.]

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.

Credit card, they can see. Priority pass, they can't. They specifically mention this when I swipe priority pass in a nearby airport.

 

[Swastik]

They can't. I asked. Also, Axis charges for all priority pass visits and then refunds it.

Even for domestic lounges ?

Can i swipe ,take guests and will get refund ?

 

[Swastik]

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.

It gets charged and then charges get refund ,

All I'm asking is that is there something I'm not aware of ?

 

[Harry1]

It gets charged and then charges get refund ,

All I'm asking is that is there something I'm not aware of ?

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 😜.

 

[CMGCMG is verified member.]

Even for domestic lounges ?

Can i swipe ,take guests and will get refund ?

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.

 

[Rags]

Did any one recieve AEP for Jan spends?

 

[RTR01]

Did any one recieve AEP for Jan spends?

They know how to block the edgeportal fast but not issuing the points fast.

 

[RTR01]

I was happy with sbi CB but greed got me into axis magnus and now I am suffering. 😔

 

[Virgo]

Did any one recieve AEP for Jan spends?

No still have not. Anyone else got lucky?

 

[Rags]

No still have not. Anyone else got lucky?

As per CC it would take few more days and they have no timeline yet.

 

[MilesMax]

It gets charged and then charges get refund ,

All I'm asking is that is there something I'm not aware of ?

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.

 

[Swastik]

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.

That's helpful ,because Axis cards don't work at international terminals in india

 

[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.