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

 

[Deleted member 16965]

Axis bank distributing Magnus :

 

[Walter White]

Magnus users after switching back to cards they ditched after devaluation:

 

[samba113]

Magnus card whose renewals are in this month and next month will impact more. Now they cancelled the credit card , they will lose milestone benefits and gyftr rewards points...

 

[samba113]

there is no impact on atlas credit card right? today i have applied for atlas credit card and next 3 to 4 months i will close my magnus credit card

 

[Walter White]

there is no impact on atlas credit card right? today i have applied for atlas credit card and next 3 to 4 months i will close my magnus credit card

 

[jack333]

there is no impact on atlas credit card right? today i have applied for atlas credit card and next 3 to 4 months i will close my magnus credit card

You should have held your horses. They've already released the pdf for magnus, select and reserve. Maybe atlas will also come next week looking at the devaluation pace. Axis has spent big money in citi acquisition. This was bound to happen

 

[CARDBITRAGE]

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

But we should appreciate the fact that he shared it despite knowing this will affect his earnings

 

[Bugs Bunny]

@yogeshbansal yeh ishara tumhare taraf hai 🤣

are hum to rkhenge unlimited lounge hai 8 concierge haii metal card hai sexy aur kyaa chahiye? 😂

 

[CARDBITRAGE]

there is no impact on atlas credit card right? today i have applied for atlas credit card and next 3 to 4 months i will close my magnus credit card

Please spare one card that can be of use now. I hope these influencers don't post about Atlas now.

 

[sanju8486]

there is no impact on atlas credit card right? today i have applied for atlas credit card and next 3 to 4 months i will close my magnus credit card

Atlast don't have edge rewards I guess..

These are edge miles...

Or they are same ?
Please research..

 

[Walter White]

Please spare one card that card be of use now. I hope these influencers quit posting about Atlas now.

Axis ne Citi ke acquisition se khud ne apne peeche bamboo daala hai. Citi ke customers nahi handle kar payega Axis kabhi bhi. Axis bhi realise kar rha hai dheere dheere yeh baat.

Meanwhile Amitabh Chaudhary:

 

[CARDBITRAGE]

Atlast don't have edge rewards I guess..

These are edge miles...

Or they are same ?
Please research..

You get edge miles and the big con is that you don't get any accelerated rewards on Grabdeals/Travel edge. I don't see how one can do a lot of manufactured spends. So it should stay of out the devaluation radar.
Edge miles and ER are totally separate. So no inter-conversion.

 

[saketreddy]

You get edge miles and the big con is that you don't get any accelerated rewards on Grabdeals/Travel edge. I don't see how one can do a lot of manufactured spends. So it should stay of out the devaluation radar.
Edge miles and ER are totally separate. So no inter-conversion.

Atlas gets 5 EM per 100 on travel edge. Base rate 2EM per 100. 5EM also on any flight/hotel website

 

[Slayer]

also drank to the death of the glorious Magnus. 🤣

Best part

 

[rohitb]

Atlas gets 5 EM per 100 on travel edge. Base rate 2EM per 100. 5EM also on any flight/hotel website

It's not 5x but 5 per 100 spent, so essentially 2.5x because 2/100 is base rewards.

 

[CARDBITRAGE]

Atlas gets 5 EM per 100 on travel edge. Base rate 2EM per 100. 5EM also on any flight/hotel website

Yeah so not 5x. Technically 2.5x. I would've loved a 5X

 

[mojo_jojo123]

15 lakhs spending - 90k EP
Even if you hit 1L milestone benefit - 3 lakh EP
Total 3.9 lakhs EP - 78K miles
10K renewal waiver - total 88K return on 15 lakhs
Effective return - 5.87% only.

Use SBI Cashback card and get 5% cash in return immediately and leave a peaceful life

 

[neogen]

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

Aur fir Infinia ka kand kar de. 🤪

 

[Walter White]

Aur fir Infinia ka kand kar de. 🤪

Ye cycle permanently chalta rahega. Ek time pe Diners Clubmiles jaise entry level card pe HDFC via Smartbuy 23% effective return deta tha. 1:1 direct transfer hota tha airmiles me. Har bank benefits cut karega time ke saath. Bank ko apna bhi profit banana hai. I don't think vo personally responsible hai iske liye.

 

[mojo_jojo123]

Tried converting 50k points to krisflyer before transfer ratio is changed, but got error message and its saying i should wait for 15 days to get refund of points 😒

better is accor hotels i think