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

 

[rogerthat]

What the hell. With this devaluation the return on Magnus drops to 1.2% without milestone and 6% with milestone. 5:1 is basically the reward rate for both Amazon vouchers and air miles now! With the absence of renewal benefit it makes absolutely no sense to carry this card beyond the first year. They could've kept either one of those and not killed both.

This is so bloody sad. The end of the great Magnus. Happens when absolute fools with no sight beyond their noses are put at the top of banks.

 

[xxScriptzxx]

Most of the aiports in the list dont even have a lounge, and it is mentioned in the document

 

[Stratosphere]

Dear OP,

For the next few months, kindly sleep with one eye open.

Yours sincerely,
The entire f-ing TF Magnus people

He probably had that dawg in him, to rile up the whole community

 

[caabhi]

Does it matter now 😂😂😂😂😂😂😂😂😂😜

Very much, if the image turns out untrue which I feel is more probable. 😀
Further it would be interesting to find out how one can approach bank. Insights by @anirban.choudhury are very useful 🙂

 

[typhoon]

Transfer all points asap in account. Dont listen to advisors asking not to do speculation

yes but i would prefer selling.

 

[ak93]

This is terrible! They're trying harder than what HDFC did to screw up DCB!

5:1!!!! What kind of reward rate is that!!!!

Exactly, RR would be 1.2% for a 10k card 😂 IDFC wealth would easily beat it with RR of 1.5% which can be redeemed against another transaction (not even vouchers) and it is LTF 😂

 

[Deleted member 9785]

He probably had that dawg in him, to rile up the whole community

Wont that be risky since it affect business of a big banks. This is not a child playground and can invite serious legal trouble

He probably had that dawg in him, to rile up the whole community

 

[S.S.]

Is this confirmed? Vimal is not replying. I need to release pressure on something.

 

[VISHESH_BANSAL]

Just ran my judicial/legal mind and this is poorly worded. Most probably is a fake news.

Language toh Proper hi lag rahi hai
Axis Bank ka logo bhi dekho, normal se kaafi alag hai.
Image toh fake lg rahi hai.

Image contenet fake nikalega ya phir yeh Image Axis Rats ko idea degi, Actual devaluation ke points kya kya hone chayie, time will tell

 

[CC-Muncher]

Most of the aiports in the list dont even have a lounge, and it is mentioned in the document

agartala - Primus Lounge
Allahabad - Zesto Executive Lounge
Cochin - Earth Lounge

which ones, I see all of them have

 

[Abhishek012]

Koi official pdf link dene ka kasht karega ?

 

[typhoon]

Koi official pdf link dene ka kasht karega ?

You need to send to Rupay?

 

[Bugs Bunny]

Language toh Proper hi lag rahi hai
Axis Bank ka logo bhi dekho, normal se kaafi alag hai.
Image toh fake lg rahi hai.

Image contenet fake nikalega ya phir yeh Image Axis Rats ko idea degi, Actual devaluation ke points kya kya hone chayie, time will tell

naa bhaii language is so unprofessional, Your card your card kon likhta e?

 

[4uziaul]

naa bhaii language is so unprofessional, Your card your card kon likhta e?

Yeh Axis Rats ne release kiya hai maaze lene ke liye kisiko pata 🤣

 

[S.S.]

Koi confirm kar do Bhai ki ye kisi ne mazak keeya hai. Peechle 4 maheene ki tapasya warth ho jayegi.

 

[thanix]

Is this confirmed? Vimal is not replying. I need to release pressure on something.

Hit a pub with easy diner prime 50% off courtesy Magnus

 

[Bugs Bunny]

Wahi to sir, iti gndi language e overall b

Yeh Axis Rats ne release kiya hai maaze lene ke liye kisiko pata 🤣

 

[Dexter]

naa bhaii language is so unprofessional, Your card your card kon likhta e?

Language utna kharab nhi hai bhai. Or ho sakta hai some insider took screenshot from phone before this pdf copy goes to consumers. Even the terms are very detailed. Lagg rha sahi hai...But I want to be wrong!

 

[Bugs Bunny]

Hit a pub with easy diner prime 50% off courtesy Magnus

💯

 

[jack333]

Reserve would not be devalued so soon
Axis wants everyone to take Reserve along with Magnus
They played a smart move
Devaluing Reserve would leave with no other options in Axis

Maybe burgundy private credit card which comes as LTF with burgundy private account