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

 

[navam]

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.

Same for my Thailand trip last year, it wasn't like other hotels around were very cheap or something at max if I compare total trip difference would have been 3-4k rs.

Frankly, i think people are over-optimizing everything here, points hain use karo, infact I recommend getting better rooms with points, had sea view rooms in Thailand (Phuket & krabi) wah early morning chai , evening mein alcohol with ocean waves is bliss man ... I probably would not have paid for this room with cash ... Toh I say Points hain toh enjoy karo who knows when devaluations make them useless toh what's the point of saving them.

 

[CVR]

I'm feeling betrayed now, got MB few days back and I'm brain dead now. My regular spends were on Gyftr Edgerewards i.e Swiggy, Zomato, Amazon and a couple more.

Not sure how I should make my regular spends now.

Ya gyftr is now useless with Axis cards. Try getting Amex Gold Charge (or Plat travel if Gyftr requirements are high) or HDFC DCB (if Infinia is difficult).

 

[PainX]

Ya gyftr is now useless with Axis cards. Try getting Amex Gold Charge (or Plat travel if Gyftr requirements are high) or HDFC DCB (if Infinia is difficult).

Wasn't it good with Magnus for Burgundy? 3x points and then 5:4? I was mainly into it because of partner miles.

 

[Harry1]

Ya gyftr is now useless with Axis cards. Try getting Amex Gold Charge (or Plat travel if Gyftr requirements are high) or HDFC DCB (if Infinia is difficult).

Technically there is still way to get about similar return using privilege/select cards along with MB.

Purchase from Amazon via Amazon grab deals for 2% cashback upto 1000. Select gets 20/200 and privilege gets 10/100 with additional 10K points on 2.5L spends. So, it is roughly same at least for amazon vouchers (assuming 5:4 for all points continuous for another 1-2 years).

 

[PainX]

Technically there is still way to get about similar return using privilege/select cards along with MB.

Purchase from Amazon via Amazon grab deals for 2% cashback upto 1000. Select gets 20/200 and privilege gets 10/100 with additional 10K points on 2.5L spends. So, it is roughly same at least for amazon vouchers (assuming 5:4 for all points continuous for another 1-2 years).

I was in the impression that select is 10/200 for regular purchases. I don't see how it's 20/200.
Can the same be achieved using MB?

 

[Harry1]

I was in the impression that select is 10/200 for regular purchases. I don't see how it's 20/200.
Can the same be achieved using MB?

Selected mcc are 20/200.

 

[CVR]

Wasn't it good with Magnus for Burgundy? 3x points and then 5:4? I was mainly into it because of partner miles.

Ya it was good. I am just giving alternatives now with the change.

 

[meumangarora]

Technically there is still way to get about similar return using privilege/select cards along with MB.

Purchase from Amazon via Amazon grab deals for 2% cashback upto 1000. Select gets 20/200 and privilege gets 10/100 with additional 10K points on 2.5L spends. So, it is roughly same at least for amazon vouchers (assuming 5:4 for all points continuous for another 1-2 years).

Does Amazon shopping with Select count as retail spend?

 

[Harry1]

Does Amazon shopping with Select count as retail spend?

There are multiple mcc. So, can't guarantee. But most of the time 5699 and 5399 comes, only 5699 gives 20/200. Search in forum about other mcc too and how to identify them.