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

---

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

 

[Quiksilver27]

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.

thanks this helps

 

[Harry1]

Anyone received samsung infinite edge points for July statement?

 

[CVR]

Anyone received samsung infinite edge points for July statement?

in how many days after transaction do we receive points for samsung infinite?

 

[Harry1]

in how many days after transaction do we receive points for samsung infinite?

Official terms is 60 days. But usually it is credited based on statement cycle. Let's say if 15th is statement date, all transactions of 15 June to 15 July will be posted together by 7th of August.

But this time, due to all the issues, they didn't credit. Yesterday, I got one credit, but it is only for missing points related to June statement. July statement points are still not received.

 

[drsel]

Anyone received samsung infinite edge points for July statement?

I have not received for May June July 2024.
I keep giving complaints, they keep on saying they will need 5 more days to investigate

 

[drsel]

in how many days after transaction do we receive points for samsung infinite?

It's on M + 2 basis, but it is officially supposed to be 45 to 60 days.
Points for all transactions in May will be aggregated and given as one credit anytime between 15th and 25th July

 

[Harry1]

Anyone got grab deals cashback for May month?

I missed out on cashback for April as well. After raising complaint, they told it will credit by August end. Now I did get one credit last week. But now I don't know if it is for April or May. And whether I should continue the existing April case it start a new one for May.

 

[drsel]

Anyone got grab deals cashback for May month?

I missed out on cashback for April as well. After raising complaint, they told it will credit by August end. Now I did get one credit last week. But now I don't know if it is for April or May. And whether I should continue the existing April case it start a new one for May.

For May June July I have not received 4x points on Grabdeals.
5% cashback is even more unlikely

 

[ankurarora898]

Anyone got grab deals cashback for May month?

I missed out on cashback for April as well. After raising complaint, they told it will credit by August end. Now I did get one credit last week. But now I don't know if it is for April or May. And whether I should continue the existing April case it start a new one for May.

I didn't get for march and april even,after email and writing down transactions got the bonus points but credited labelled as 'grab deals may'.Now need to struggle for may points.

 

[drsel]

I

Anyone got grab deals cashback for May month?

I missed out on cashback for April as well. After raising complaint, they told it will credit by August end. Now I did get one credit last week. But now I don't know if it is for April or May. And whether I should continue the existing April case it start a new one for May.

It's April Cashback you got after 120 days

 

[sahilgulati5]

Anyone got grab deals cashback for May month?

I missed out on cashback for April as well. After raising complaint, they told it will credit by August end. Now I did get one credit last week. But now I don't know if it is for April or May. And whether I should continue the existing April case it start a new one for May.

Yes got for may on Saturday

 

[Ramakgmc]

Has anybody been refused free lounge access based on spending 50 K on M4B? Is Axis seriously looking at this?

 

[Harry1]

Has anybody been refused free lounge access based on spending 50 K on M4B? Is Axis seriously looking at this?

Not denied, but check dremfolks website, it shows pay and use, if u haven't meet criterion.

 

[drsel]

Not denied, but check dremfolks website, it shows pay and use, if u haven't meet criterion.

Do you need to add your card to the Dreamfolks app and then can you check on the app?

 

[Dragon_slayer]

Yes add your card and authenticate by paying 1 INR

Do you need to add your card to the Dreamfolks app and then can you check on the app?

 

[Harry1]

Axis Gyftr Devaluation Part-2.

No more accelerated points. 0.5/1/1.5% gyftr coins on Amazon/ASV/Flipkart vouchers.

 

[Riva]

Axis Gyftr Devaluation Part-2.

No more accelerated points. 0.5/1/1.5% gyftr coins on Amazon/ASV/Flipkart vouchers.

View attachment 67609

Wtf is gyftr coins.. what is their value?

 

[Harry1]

Wtf is gyftr coins.. what is their value?

1 coin = 1 rs. Looks like it can be redeemed against any other voucher except maybe Amazon pay.

 

[sharad131]

I did expect something spectacular from Axis on page number 420th

 

[Dragon_slayer]

Axis Gyftr Devaluation Part-2.

No more accelerated points. 0.5/1/1.5% gyftr coins on Amazon/ASV/Flipkart vouchers.

View attachment 67609

wtf, so instead of 9.8% return now MB holders get 1% value back for Apay purchase?