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

 

[Stratosphere]

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

I do hope the bank takes action. Put an end to anyone and everyone who decides to put on 'news' based on their own hunches. Bank should also cancel their card and increase transfer ratio to 5:6 for 3 months for everyone else just to rub it in their faces. Welcome to my tedtalk Ax-is Bank-ers

 

[Bugs Bunny]

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!

Utna khrab naii haii but utna sai b nee ki offical communications me use kia jaye

 

[Dexter]

Anyone tried to login to ITC website? its not working from 3-4 days!

 

[VISHESH_BANSAL]

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

Right.
I just did a overview of it. Did not read each and every line

You really have a Lawyer mind😅.

 

[Deleted member 16965]

Right.
I just did a overview of it. Did not read each and every line

You really have a Lawer mind😅.

No full stop also after each bullet point. 😅

 

[ANewUser]

Koi official pdf link dene ka kasht karega ?

This is leaked (or fake) document so no official link

 

[Deleted member 9785]

No full stop also after each bullet point. 😅

might have asked chatgpt do do a quick edit based on certain points 😛

 

[Walter White]

Wait kar lo official communication aane ka. Agar hua bhi hoga devalue toh is week me most likely aa jayega.

In case Magnus gets devalued, Magnus Carlsen will be back as the best Magnus 😛

 

[Deleted member 16965]

might have asked chatgpt do do a quick edit based on certain points 😛

Ye phishing website ki tarah hi lag raha hai 😁 Accha hua kisi ne bottom mein card details nahi poocha Axis Magnus card verification ke liye nahi toh pakde jaate

 

[Dexter]

No full stop also after each bullet point. 😅

even in the official TnC there are no full stops after bullets. https://www.axisbank.com/docs/defau.../complimentary-flight-ticket-detailed-tnc.pdf

 

[anirban.choudhuryanirban.choudhury is verified member.]

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

which ones, I see all of them have

Yes all of the airports mentioned has lounge
And some didn’t accept PP as of now that’s a personal experience, Primus Agartala declined my PP but I went through using DCB

 

[ankitfintech]

They converted my Magnus LTF easily

Hi @anirban.choudhury can you please mention how you converted to LTF which is even more difficult than a fresh card without even a salary account?

 

[Deleted member 9785]

I do hope the bank takes action. Put an end to anyone and everyone who decides to put on 'news' based on their own hunches. Bank should also cancel their card and increase transfer ratio to 5:6 for 3 months for everyone else just to rub it in their faces. Welcome to my tedtalk Ax-is Bank-ers

Billion dollar business are very sensitive to reputation. For them it is not a joke as is called "Reputational Risk". https://www.timesnownews.com/busine...ng-legal-notice-from-cadbury-article-99512388

 

[Deleted member 16965]

even in the official TnC there are no full stops after bullets. https://www.axisbank.com/docs/defau.../complimentary-flight-ticket-detailed-tnc.pdf

But main points do have a full stop

 

[anirban.choudhuryanirban.choudhury is verified member.]

Hi @anirban.choudhury can you please mention how you converted to LTF which is even more difficult than a fresh card without even a salary account?

Through salary slips
My local BM took some approval and shared my salary slips to him
Then received a mail from premium experience that my request has been accepted on basis of salary.

 

[thanix]

So now will this thread exist or it will also be deleted pending official announcement??

 

[Slayer]

Wait kar lo official communication aane ka. Agar hua bhi hoga devalue toh is week me most likely aa jayega.

In case Magnus gets devalued, Magnus Carlsen will be back as the best Magnus 😛

Walter dada ko koi sports analogies mein nahi hara sakta

 

[Dexter]

So now will this thread exist or it will also be deleted pending official announcement??

Let it be here so that people can rant somewhere 😛

 

[jack333]

even in the official TnC there are no full stops after bullets. https://www.axisbank.com/docs/defau.../complimentary-flight-ticket-detailed-tnc.pdf

I also think its less likely fake because why would anyone include minor points like
1. 60 day wait period to link another transfer partner
2. Lounges available through priority pass update and not through card

Maybe a draft copy got leaked before final proof reading

 

[CARDBITRAGE]

So now point transfer is worse than cash redemption in most cases. 🤣