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

 

[CVR]

But as MB points get over, they get refilled instantly from the ordinary edge bucket

How much refill is happening from ER to MB?

 

[CVR]

Whatever you spend gets refilled

My friend transferred 20k MB yesterday. Nothing got refilled from ER bucket for him.

 

[kapsshah42]

Edge redemption blocked for me just like earlier in the year. Anybody facing the same issue?

 

[chasni]

Edge redemption blocked for me just like earlier in the year. Anybody facing the same issue?

I assume you hold Atlas card.

 

[kapsshah42]

I assume you hold Atlas card.

Both Atlas and magnus burgundy

 

[Quiksilver27]

Both Atlas and magnus burgundy

Axis at its best

 

[kapsshah42]

Complaint raised since more than a week and they are still looking into it.

 

[chasni]

Both Atlas and magnus burgundy

Atlas is the biggest culprit. If you do 5EM transactions every month whether it is real or MS then there is high chances of account suspension.

 

[Thomas244]

Atlas is the biggest culprit. If you do 5EM transactions every month whether it is real or MS then there is high chances of account suspension.

Take Magnus burgundy in ur name and atlas in spouse name if possible. Less headaches

 

[kapsshah42]

Take Magnus burgundy in ur name and atlas in spouse name if possible. Less headaches

Can only do this once the account unblocks.

 

[Wealth is my birth right!]

Can only do this once the account unblocks.

Hope you gave all the invoices and clarification to them

 

[kapsshah42]

Hope you gave all the invoices and clarification to them

No invoices demanded as of now.They are getting it checked since a week.

 

[drsel]

What do you mean by all edge points? Earlier only MB bucket points were visible for transfer, not entire ER.

No invoices demanded as of now.They are getting it checked since a week.

I think they have a software in place which automatically blocks miles redemption of Atlas cards doing more than 5 x 10% transactions in a particular statement month.
Because they feel that 5 air ticket/hotel bookings in a particular statement month would be sufficient for a non travel agent.
And then to unblock it is a big headache

 

[CVR]

@Harry1 does it still make sense to take Samsung Infinite and pay 5.9k fees for 30k ER? I have MB so i should be able to transfer 30k ER at 5:4? Or has the ER to MB bucket shift stopped now?

 

[Harry1]

@Harry1 does it still make sense to take Samsung Infinite and pay 5.9k fees for 30k ER? I have MB so i should be able to transfer 30k ER at 5:4? Or has the ER to MB bucket shift stopped now?

It's same logic as before. It will shift if MB points are earned after Edge points. It won't if Edge points are earned after MB points. Either way, both MB and Edge points get 5:4 ratio.

 

[Quiksilver27]

It's same logic as before. It will shift if MB points are earned after Edge points. It won't if Edge points are earned after MB points. Either way, both MB and Edge points get 5:4 ratio.

in how many days should we expect the 30k ER to be credited after doing the 3 txns?

 

[Harry1]

in how many days should we expect the 30k ER to be credited after doing the 3 txns?

Pdf says 60 days from 3rd Transaction.

 

[Wealth is my birth right!]

Pdf says 60 days from 3rd Transaction.

So if one gets Magnus for Burgundy account card and SI together they should not use Burgundy magnus card till they get SI 30k Edge Rewards ?

 

[Quiksilver27]

Pdf says 60 days from 3rd Transaction.

yes i read that.. but was hoping they credit it earlier than that based on ur own experience.. but i guess axis being axis is going to take the full 60 days

 

[Harry1]

yes i read that.. but was hoping they credit it earlier than that based on ur own experience.. but i guess axis being axis is going to take the full 60 days

It's variable. Anywhere from 2 weeks to 2 months. Even people who are approved on same day and completed 3 transactions got in different times.