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

 

[Walter White]

Abbas mastan ki script lag rahi hai. Ab next twist kya hoga . Axis 5:4 ke bajaye 4:5 kar raha hai ?

Kahi itne twist bhi na daal de ki log Race 3 se compare karne lage 😛

 

[rohitb]

Next round mei milestone hit karne pe Russian ka lapdance

Mint ki khabar - all credit card spend records broken post this announcement

 

[rohitb]

Abhi ham log denial and anger ke baad bargaining stage main chal rahe hain shayad.
Official announcement ke baad depression and then acceptance bacha hai.

 

[Sharjeelshaikh]

Abhi ham log denial and anger ke baad bargaining stage main chal rahe hain shayad.
Official announcement ke baad depression and then acceptance bacha hai.

New conversion rates 1:5 maze karo

 

[rohitb]

New conversion rates 1:5 maze karo

Ismein to axis senior management depression main chala jaayega.

 

[Sharjeelshaikh]

Ismein to axis senior management depression main chala jaayega.

1:5 possible hai ceo ke liye Russian crowd fund karo.meet and greet service 8 visit per year.

 

[Walter White]

Ismein to axis senior management depression main chala jaayega.

Investors hara-kiri kar lenge agar 1:5 kar diya toh. Magnus ka scene toh chalta rahega. Jo Axis Bank ke shares hai unka devaluation zaroor ho jayega. 😂

 

[Zarieal]

Just spoke with Akash Ambani. Was informed that just like telecom, Jio Financial Services would disrupt the CC market by offering a card better than the old magnus reward structure. Wait for the good news guys. Jai Jio, Jai Ambani.

 

[thanix]

View attachment 22281

Disclaimer: The screenshot is taken from Twitter and edited to hide a few numbers.

This screams fake just going by the language

 

[neogen]

View attachment 22281

Disclaimer: The screenshot is taken from Twitter and edited to hide a few numbers.

Normal query ka kabhi time se jawab nahi milta aur iska Axis wala turant answer kar rahe hain.

 

[Wealth is my birth right!]

“Hold” news made a good sleep atleast for Magnus card holders
Don’t ask the source
Finally Badhti ka Naam Zindagi

 

[moneydeep]

The only reason I got this card was because 10k was getting reversed with Tatacliq and I use priority pass as I travel few times a year. I guess it is not worth anymore at all this card then for me.
Need to find another card which has priority pass unlimited or atleast a few lounge access free.
Any other card easily available which could fill this need I have? Axis or otherwise?

 

[neogen]

I don't know how and who are confirming over calls to people. When I called yesterday, they categorically said that they are not aware of any such changes in Magnus TnC.

I guess, Axis might take a stand that they haven't changed any TnC of Magnus CC, they just tweaked their edge reward ratio that is not part CC TnC

 

[neogen]

The only reason I got this card was because 10k was getting reversed with Tatacliq and I use priority pass as I travel few times a year. I guess it is not worth anymore at all this card then for me.
Need to find another card which has priority pass unlimited or atleast a few lounge access free.
Any other card easily available which could fill this need I have? Axis or otherwise?

HDFC Infinia, their PP is free and unlimited lounge access.

 

[D7162]

Itna intezar ko kabhi appraisal letter ka nhi kiya..😛

 

[Cardmarvel]

I am pretty sure those who are claiming to have spoken to customer care and confirmed the devaluation, are faking. No customer support executive will confirm a rumour in his sane state of mind.

 

[rohitb]

Itna intezar ko kabhi appraisal letter ka nhi kiya..😛

Yahan 30%+ Bach jaate hain . Kaun se appraisal main 30% milta hai.
Magnus Manufactured spends - 1
Corporate Ghulami - 0

 

[VijayflyRaven]

Let’s wait for the official communication. Meanwhile people who are risk averse can transfer to partner of choice.

 

[amitr29]

View attachment 22281

Disclaimer: The screenshot is taken from Twitter and edited to hide a few numbers.

Fake news ke liye itni mehnat karna and time Dena bhi ek alag hi nasha hai. Kaun Hain yeh log aur Kahan Hain?

 

[neogen]

Fake news ke liye itni mehnat karna and time Dena bhi ek alag hi nasha hai. Kaun Hain yeh log aur Kahan Hain?

Aur news agar sach nikli tou?