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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

TF Legend
-- 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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Harry1 said:
To be precise, I haven't done a single transaction in last 1 year on Gyftr Edge rewards. August 16, 2023 was last transaction. MB for me is now a once in a year card for 14% return on 1.5L+ spends.
Click to expand...
What card you use for regular daily offline/online transactions? MB still have best base reward of 4.8% vs 3.33% for Infinia. Amex acceptance is limited.
 
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Harry1 said:
Right, if u r paying that much fee and keeping AMB just for that.

For me, it's LTF and I was anyway maintaining AMB since much before. So, this was a free thing for me. In fact, earlier I had a paid magnus and now a free MB.

They have added fee just to avoid issuing it😂. They r losing lot of money with this card and don't want more customers.
Click to expand...
I am not paying any fees either. I guess now this will be only used for travel booking and meet&greet.
 
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Harry1 said:
Already mentioned, sbi cb, bob eterna and yes reserv with 3x all are more than MB 4.8% effectively. I don't have any offline spends. Use cash or UPI for the small offline expenses.
Click to expand...
Sbi will give 5% cb.. yes reserv with 3x will also be sub 5% i think.. no idea about bob cards.. MB 4.8% in Accor becomes 8.6%.. i don’t think there is any match to MB for regular base spends (offline or online)..
 
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CVR said:
Sbi will give 5% cb.. yes reserv with 3x will also be sub 5% i think.. no idea about bob cards.. MB 4.8% in Accor becomes 8.6%.. i don’t think there is any match to MB for regular base spends (offline or online)..
Click to expand...
Infinia + Atlas + Bob Eterna is supposed to be a nice combo. Infinia for smartbuy (16.6%), Atlas for direct airline + hotel (10%) & Eterna for wallet load (4.75% - wallet load charges).
 
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hysteriadoc said:
Infinia + Atlas + Bob Eterna is supposed to be a nice combo. Infinia for smartbuy (16.6%), Atlas for direct airline + hotel (10%) & Eterna for wallet load (4.75% - wallet load charges).
Click to expand...
Sure. But there are lot more spends than just these 3 categories. For me direct hotel & airline spends are minimal as generally use reward points for those.. anyways different combo works for different people..
 
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CVR said:
Sbi will give 5% cb.. yes reserv with 3x will also be sub 5% i think.. no idea about bob cards.. MB 4.8% in Accor becomes 8.6%.. i don’t think there is any match to MB for regular base spends (offline or online)..
Click to expand...
That's subject to interpretation. If u consider 1.8rs value for Accor and earn max 2L points and transfer all of them only to Accor. I don't consider it like that.

Accor itself sells points at 1.25rs via accor signature membership. I don't consider more than 0.8-0.9 for Accor and also it's only about 1/4th to 1/2 of 2L quota. In general, flights are expensive than hotels. And no point is hoarding points for future, devaluations can happen any time.

So, I consider effective return rate of about 3.84% only (for comparison with true cashback) for 4.8% airmiles from magnus.
 
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Harry1 said:
That's subject to interpretation. If u consider 1.8rs value for Accor and earn max 2L points and transfer all of them only to Accor. I don't consider it like that.

Accor itself sells points at 1.25rs via accor signature membership. I don't consider more than 0.8-0.9 for Accor and also it's only about 1/4th to 1/2 of 2L quota. In general, flights are expensive than hotels. And no point is hoarding points for future, devaluations can happen any time.

So, I consider effective return rate of about 3.84% only (for comparison with true cashback) for 4.8% airmiles from magnus.
Click to expand...
Honestly your calculation didn’t make sense in my head.. you get straightforward value of 1.8 per accor point.. one can say accor properties are 20-25% more expensive than a other standalone property so you can discount by that.. they selling at whatever price is irrelevant as the value you get on spending the point is fixed irrespective.. and why will you buy accor points if you can earn them by doing regular spends on cards.. hoarding point for trips over next 12 months has to be always done, be in flight or hotels.. difficult to get last min flight availability also for 4 people in family.. your point on 2 lakh limit is valid if you are exhausted that limit and than moving from MB to other card.. for me that limit is sufficient for now..
 
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CVR said:
Honestly your calculation didn’t make sense in my head.. you get straightforward value of 1.8 per accor point.. one can say accor properties are 20-25% more expensive than a other standalone property so you can discount by that.. they selling at whatever price is irrelevant as the value you get on spending the point is fixed irrespective.. and why will you buy accor points if you can earn them by doing regular spends on cards.. hoarding point for trips over next 12 months has to be always done, be in flight or hotels.. difficult to get last min flight availability also for 4 people in family.. your point on 2 lakh limit is valid if you are exhausted that limit and than moving from MB to other card.. for me that limit is sufficient for now..
Click to expand...
the value you get on spending the point is fixed

That's a key statement and is not true and again subject to interpretation. I would not have stayed in an accor hotel, if I didn't had accor points. I remember one of the hotel stay in Switzerland was for 24K accor points, that was the only hotel in that city. And the cheapest (not literally, but One I can choose to stay at) from revenue booking in same city was around 12K only. So, from my perspective the true value I got here is 0.5 per Accor points.

So, in ur case, u won't find cards like sbi cb, bob eterna, yes reserv etc useful, but in my case, they are better when spends are below 1.5L spends. And that's why our founder always says that there is not a single best card and everyone should choose card based on his own requirements😉.
 
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Harry1 said:
the value you get on spending the point is fixed

That's a key statement and is not true and again subject to interpretation. I would not have stayed in an accor hotel, if I didn't had accor points. I remember one of the hotel stay in Switzerland was for 24K accor points, that was the only hotel in that city. And the cheapest (not literally, but One I can choose to stay at) from revenue booking in same city was around 12K only. So, from my perspective the true value I got here is 0.5 per Accor points.

So, in ur case, u won't find cards like sbi cb, bob eterna, yes reserv etc useful, but in my case, they are better when spends are below 1.5L spends. And that's why our founder always says that there is not a single best card and everyone should choose card based on his own requirements😉.
Click to expand...
Sure that’s why i said maybe discount by 20-25% if you think one can get standalone property at lower price but even in that case 1.5rs per accor points can be assumed..

Btw my real life experience till now has been very different.. I am going to Newzealand for 15 days and except one night all nights are booked with accor using points.. and i have searched for alternative hotels everywhere and accor pricing is actually cheaper in every case.. so i am not overpaying also.. and this is also due to benefit of hoarding some points for future travel as i was able to book hotels 7-8 months in advance to get really good rates along with accor plus discount.. accor plus fees was more than offset by 1 free stayplus night.. and all this are refundable bookings, non refundable would have been even more cheaper but i don’t prefer that as plans can change..

So in my view there is absolutely no card which comes close to MB for regular spends.. i have kept life simple - MB for all regular spends, Infinia for smartbuy vouchers, Idfc vistara for tax payment, amex to meet milestone wherever it is accepted & tax payment
For hotels & airlines for now i have enough points/miles to book using them rather than pay cash..
 
Upvote 2 Downvote
CVR said:
Sure that’s why i said maybe discount by 20-25% if you think one can get standalone property at lower price but even in that case 1.5rs per accor points can be assumed..

Btw my real life experience till now has been very different.. I am going to Newzealand for 15 days and except one night all nights are booked with accor using points.. and i have searched for alternative hotels everywhere and accor pricing is actually cheaper in every case.. so i am not overpaying also.. and this is also due to benefit of hoarding some points for future travel as i was able to book hotels 7-8 months in advance to get really good rates along with accor plus discount.. accor plus fees was more than offset by 1 free stayplus night.. and all this are refundable bookings, non refundable would have been even more cheaper but i don’t prefer that as plans can change..

So in my view there is absolutely no card which comes close to MB for regular spends.. i have kept life simple - MB for all regular spends, Infinia for smartbuy vouchers, Idfc vistara for tax payment, amex to meet milestone wherever it is accepted & tax payment
For hotels & airlines for now i have enough points/miles to book using them rather than pay cash..
Click to expand...
If possible do share a rough itinerary for 15 days in New Zealand that too with Accor! sounds amazing!
 
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