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

 

[Sharjeelshaikh]

Axis Bank Magnus Credit Card Devaluation Analysis: Where to Redeem Axis Edge Points

This article is going to talk about the "Axis Magnus credit card."Currently, this is the most trending topic on the internet. The Axis Magnus devaluation has

pkbnews.in

 

[thanix]

Its the people who got the card in last 3-4 months and who are yet to recieve the magnus rewards. Humare exotic vacations ke mungerilal ke sapne toot Gaye. Ab dukh to lagega heen. Isleeye kuch log denial mein ja rahe hein.

More than Axis, it is the social media influencers especially those self certified credit card experts are to blame for the Magnus mania and the unconfirmed mess. Even worse are those IYKYK looters who abused and milked it skewing the game.

I couldn't believe one guy is selling timeslot to advise on moving the points 😳

This thread is better as there is another thread about future action and ppl are branded axis agents if one posts rationally 😂

 

[VijayflyRaven]

Hehe that's right. But again 7-8% is considering you hit 1l/month(12L/year) and exclude the annual fee. If you hit the fee waiver(15L) your return would be <6.5%, which is still nothing to complain about. You could get higher returns by segregating your spends across various cards, but it's so much simpler to hold just 1-2 cards and manage them.

Sometimes we get 80% return rate too. Example: 5x Amazon + Big basket + Tata Neu + Debit card payment for credit card + Milestone 1L + Accor redemption

For every 100 spent, 6 reward points x 5 + 25 x 4/5 *1.8 = 79 + 5% for Tata Neu + 1% for debit card + 2.5% instant discount = 87%

 

[Walter White]

Kaafi lamba chala gaya Magnus wala scene. Magnus ko bhi apni ex ki tarah bhul jao, 2 peg lagao aur move on karo. 🤣

 

[phagocyte536]

Sometimes we get 80% return rate too. Example: 5x Amazon + Big basket + Tata Neu + Debit card payment for credit card + Milestone 1L + Accor redemption

For every 100 spent, 6 reward points x 5 + 25 x 4/5 *1.8 = 79 + 5% for Tata Neu + 1% for debit card + 2.5% instant discount = 87%

Trying to get over bhai.. 😭 don't remind us the math 😭

Replace ASV with myntra 10X and see it go even higher

 

[bhsiddharth]

Is it kept on hold now?

 

[VijayflyRaven]

Is it kept on hold now?

Nobody knows. It was a rumour anyway. Until we see official notification, it is just a rumour.

 

[kkk]

Meanwhile got some bonus reward for gyftr transaction done in March-April month.

 

[thanix]

Just to make the mood lighter, imagine the below video as Axis reward program review

Jeremy irons as Amitabh, unknown Axis reward points analyst as Sullivan, Kevin Spacey as Reward program head 😂

 

[bonheur]

It was all crap, but everyone laughed at me 😄They will do 4 things for now.

1. Segregate ER points based on card
2. Devalue Magnus to 5:2
3. Devalue reserve to 5:3
4. Exclude government spends especially taxes from earning rewards

Rumour is that the project plan has been hurriedly prepared and some poor Axis bank developers will be made to pull all-nighters for the next several weekends to deliver the reward structure segregation changes in the next few weeks. They aren't allowed to take any leaves or fall sick until then.

Project name - "Karo Ya Maro".

 

[VijayflyRaven]

Lot of drama last few days. We have seen new stories spun from thin air.
I can see so many potential story writers who could try their luck with a movie rather than stories on Twitter and forums.

My source told me it is on hold, my source is MD, my source is telling me it is this that… LoL

 

[Deleted member 9785]

Rumour is that the project plan has been hurriedly prepared and some poor Axis bank developers will be made to pull all-nighters for the next several weekends to deliver the reward structure segregation changes in the next few weeks. They aren't allowed to take any leaves or fall sick until then.

Project name - "Karo Ya Maro".

They can hire ex FAANG for quicker results 😉

 

[_ayush]

Why cant they reduce the number of points they give on magnus. For eg - they give 12 ER for 200 spend. They can reduce it to 6 ER for each 200 spend instead of changing the conversion ratio. This would make sure that the transactions already done get the same reward rates and saves Reserve as well.

 

[Deleted member 9785]

Why cant they reduce the number of points they give on magnus. For eg - they give 12 ER for 200 spend. They can reduce it to 6 ER for each 200 spend instead of changing the conversion ratio. This would make sure that the transactions already done get the same reward rates and saves Reserve as well.

inko na coding ati hai na mathematics. sab whatsapp university se padai kie hai

 

[VijayflyRaven]

Why cant they reduce the number of points they give on magnus. For eg - they give 12 ER for 200 spend. They can reduce it to 6 ER for each 200 spend instead of changing the conversion ratio. This would make sure that the transactions already done get the same reward rates and saves Reserve as well.

Will make the base rate as 0.6% which would be so bad for a 10k card. It would cause anger too.

 

[Wealth is my birth right!]

They can hire ex FAANG for quicker results 😉

Ex FAANG all are busy at island vacations 😜

 

[_ayush]

Will make the base rate as 0.6% which would be so bad for a 10k card. It would cause anger too.

6 ER was just an example. And 1.2% reward rate for a 10k card isn't attractive either. I'm pretty sure no one is buying this card based on default 1.2%

 

[Walter White]

They can hire ex FAANG for quicker results 😉

They should have reached out to Elon Musk instead. After all, he knows a lot about controlling the number of users. Even Karnataka government will be taking advice from him on how to control traffic in Bangalore. 😂

 

[ARV]

Just spoke to premium customer care to check for annual spend target achievement. She confirmed the changes and told will get SMS and mail tomorrow. Not sure what to believe 😒

 

[bhsiddharth]

6 ER was just an example. And 1.2% reward rate for a 10k card isn't attractive either. I'm pretty sure no one is buying this card based on default 1.2%

1.5% for 50K card socho reserve ka.