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

 

[neogen]

vegetables relevance.

🥕(Magnus) + 🍅(Reserve) = 🌶️&🌵 (Current situation)

 

[jack333]

Yes and also it seems to be that Axis was giving much better commissions on Magnus card approvals to credit card agents. So it was a win-win situation for both agents and customers.

They get between 2-3k per magnus. I think they give a part to backend team for approval 🤣

 

[neogen]

They get between 2-3k per magnus. I think they give a part to backhand team for approval 🤣

Backend or BackHand 🤔

 

[Deleted member 16965]

Business Today has also published an article on Axis Magnus Devaluation:

'The rewards were far from realistic,' say netizens amid buzz of devaluation of Axis Magnus credit card

'If Axis Magnus devaluation from 5:4 to 5:1 is true, then it is one of the biggest devaluations in the history of credit cards,' say netizens

www.businesstoday.in

 

[4uziaul]

Backend or BackHand 🤔

Are excited hai Banda abhi baki samjh lo itna rok tok achi baat nahi 🤣

 

[shsinha]

People who are paying 10k+GST for annual fees, will all close it. All those who got it LTF, they will keep it.. 😀

 

[jack333]

Backend or BackHand 🤔

Bhawna ko samjho bhai. Shabdon me kya rakha hai 🤣

 

[4uziaul]

People who are paying 10k+GST for annual fees, will all close it. All those who got it LTF, they will keep it.. 😀

@yogeshbansal yeh ishara tumhare taraf hai 🤣

 

[jack333]

The one who leaked it: Axis Bank's MD is preparing a special Bamboo for special treatment. 🤣

Word is around that alwaysbelieveyourself leaked it. Jitna forum se kamaya hai sab bamboo karke nikalenge ab 🤣

 

[Deleted member 16965]

Bhawna ko samjho bhai. Shabdon me kya rakha hai 🤣

Important word hai Back. Sabki Back tod di hai Magnus ke devaluation news ne 😅

 

[4uziaul]

Word is around that alwaysbelieveyourself leaked it. Jitna forum se kamaya hai sab bamboo karke nikalenge ab 🤣

Main toh bolun woh khud gaali de raha hai uska dhanda paani bandh hone wala hai 🤣

 

[rajat30]

w

I completely agree with you, and I actually mentioned the same thing a few days ago, although in a joking manner. It seems like Axis Bank is approving and distributing the Magnus card quite easily because they want people to chase the milestones, which in turn encourages manufactured spending. I have been trying to get the Airtel card since last year, but I've been rejected around 7-8 times specifically for that card. Out of frustration, I ended up getting the Magnus card, and to my surprise, it was approved. Interestingly, it was through C2C, and I have only paid the joining fees so far. I have no intention of using this card anyway. The only reason I got this card was because I thought it would be easier to get those entry-level cards, but it turned out to be the same story again as I was recently rejected for the IOCL LTF card. 🤣 The moral of the story is that Axis Bank was too lenient in issuing this card, and now it's being devalued. Even these so-called influencers and YouTubers also played a role. 🤣

why pay the joining fees if you don't intend to use this? 😳 are you an amex user? makes sense then I guess

 

[Walter White]

Main toh bolun woh khud gaali de raha hai uska dhanda paani bandh hone wala hai 🤣

Use bolo HDFC join kar le. Ab kal se Infinia ka demand badne wala hai.

 

[Himanshu Rathi]

Does the new devaluation pdf also remove Insurance premiums from milestone benefits as I can only see utilities and government institutions in the leaked PDF?

 

[rajat30]

Use bolo HDFC join kar le. Ab kal se Infinia ka demand badne wala hai.

agar itna easily infinia dila then then zaroor

 

[Walter White]

agar itna easily infinia dila then then zaroor

DCB lena easy hai. Ek baar DCB aa jaaye toh Infinia lene me itne issue nhi aate

 

[VISHESH_BANSAL]

Word is around that alwaysbelieveyourself leaked it. Jitna forum se kamaya hai sab bamboo karke nikalenge ab 🤣

Axis MD to him :- Bolo Zubaan kesari🤣

 

[Walter White]

Axis MD to him :- Bolo Zubaan kesari🤣

Ab kal se Bestbanker ke stocks high ho jayenge

 

[rajat30]

DCB lena easy hai. Ek baar DCB aa jaaye toh Infinia lene me itne issue nhi aate

socha tha DCB pe 10k lagau ya Magnus - Magnus pe lagaya. ab lagta hai DCB pe bhi lagega soon unless HDFC agrees LTF 😀

 

[Zulu]

I think Axis intensionally killed the card to launch a NEW card. After citi merger kuch tho dhamaka Banta Hai. So peace!!