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

 

[amitr29]

Is se yaad aaya aj bhi inke agent phone kar rhe the ki Magnus lelo.

Magnus par itna incentive kamaya unhone, ki woh bhi Income par magnus ke liye qualify kar gaye

 

[Walter White]

Ab Magnus ki kya zaroorat. Ab toh apna private jet leke jayenge. Thank you Mrs. Johnson.

@VISHESH_BANSAL @Chaitanya-a @jack333

 

[amitr29]

Ab Magnus ki kya zaroorat. Ab toh apna private jet leke jayenge. Thank you Mrs. Johnson.

@VISHESH_BANSAL @Chaitanya-a @jack333

View attachment 22253

Imagine your tax liability on this amount and how many reward points you can get by paying tax through credit card

 

[Walter White]

Imagine your tax liability on this amount and how many reward points you can get by paying tax through credit card

Ab Cayman Islands me apna account kholunga. Leke toh dikhaye IT dept mere se tax.

 

[Sharjeelshaikh]

My new gf idfc

 

[rohitb]

Imagine your tax liability on this amount and how many reward points you can get by paying tax through credit card

 

[rohitb]

Imagine your tax liability on this amount and how many reward points you can get by paying tax through credit card

Iske tax pay kar kar ke itna paisa aa jaayega magnus se , ki uske tax ke liye ek aur magnus Lena hoga .

 

[Sharjeelshaikh]

I have worked with banks for 15 years. Beleive me nobody listens to Sales executives. They are never part of any discussions.

Also, sales team is informed last of changes. Even clients know before them They are told ab yeh hai, ja bech kaise bhi and given Bamboo if target not achieved

Good thing is these sales executives will start valuing client. Abhi to demand is more than supply, thanks to Magnus, Reserve, DCB and Infinia. I have called 5 HDFC sales guys in last 15 days, no one is bothered to call back or reply to messages.

If that was the case everyone would have received the mail intimation by today.management doesn't need anyone's approval.but written mei kuch nahi aaya ab tak...maybe sales team is firefighting the issue it will murder not just magnus but other cards accounts and the brand name axis itself.lets wait till 13 july

 

[rohitb]

My new gf idfc

Iska benefit bhi same vistara Id PE , axis club vistara waali, bhijwa sakte hain kya ?

 

[Sharjeelshaikh]

Iska benefit bhi same vistara Id PE , axis club vistara waali, bhijwa sakte hain kya ?

But ismei 6 tickets hai .plus it's smaller bank so randirona Kam hoga

 

[Sharjeelshaikh]

Disclosure Copy paste hai from other place

 

[Sharjeelshaikh]

Disclosure Copy paste hai from other place

Only reconfirms the chat I had with axis sales guy

 

[rogerthat]

Disclosure Copy paste hai from other place

No change in the renewal benefit? So we will be getting the 10000 wala voucher after all?

 

[Sharjeelshaikh]

No change in the renewal benefit? So we will be getting the 10000 wala voucher after all?

Bhai 10k voucher is peanuts this cards core user base are frequent fliers and hotel users.i wouldn't blink an eye if I don't get the voucher what bothers is the transfer ratio

 

[rohitb]

Bhai 10k voucher is peanuts this cards core user base are frequent fliers and hotel users.i wouldn't blink an eye if I don't get the voucher what bothers is the transfer ratio

True that . Ratio 2:1 kar dein, benefits hata lein . Even meet greet hata lein ya lounge access Kam kar dein.

 

[Sharjeelshaikh]

True that . Ratio 2:1 kar dein, benefits hata lein . Even meet greet hata lein.

Meetbn greet I use cause elderly need it in need it too for quicker immigration and jumping the queue

 

[rogerthat]

Bhai 10k voucher is peanuts this cards core user base are frequent fliers and hotel users.i wouldn't blink an eye if I don't get the voucher what bothers is the transfer ratio

Dude tell me about it. I was planning for a Euro Trip with family for summer next year paid for with Axis Edge reward points transferred at 5:4

The bare minimum that will keep me from cancelling the card is the 10K renewal benefit.

 

[Sharjeelshaikh]

Dude tell me about it. I was planning for a Euro Trip with family for summer next year paid for with Axis Edge reward points transferred at 5:4

The bare minimum that will keep me from cancelling the card is the 10K renewal benefit.

That is only if u get to transfer the entire points unhave or expect at 5:4 plus the airlines may too devaluate their point structure by next year.also problem with Euro travel is now we need confirmation of air booking instead of dummy ticket

 

[neogen]

Disclosure Copy paste hai from other place

Ration ?? is this email legit?

 

[Sharjeelshaikh]

Ration ?? is this email legit?

Don't know but gist of conversation is same as I had WD my axis sales guy