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

 

[anirban.choudhuryanirban.choudhury is verified member.]

Kahani Suno 3.0
Devaluation ki kahani , Meri Jubaani

I went to Axis Connaught Place branch , and faked to apply Reserve , the RM there read out all the terms and conditions, excluding basic one these are the ones that we should care about

Annual waiver stays at 25 lakhs , Utility and Government spends not counted for waiver

Utility and governmemt spends won’t give ER

ER to transfer partner ratio including Accor is 5:1

Maximum 500,000 per customer ID can be transferred to partners

Changes to be applicable from 12th August.

I asked same changes on Magnus , he said Sir Magnus ka Av hold pe hai .

Then I went up and said , aata hu Bhogal k Chole Bhature kha k .

 

[Deleted member 9785]

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

Best way out is axis should credit all pending points and then implement devalue. Will they do it ? Can they afford to do it ?

 

[ARV]

Best way out is axis should credit all pending points and then implement devalue. Will they do it ? Can they afford to do it ?

Can't trust AXIS with anything now

 

[bhsiddharth]

I need to book tickets, I am confused - should i use travel edge or go for upfront 10-12% discounts?

 

[anirban.choudhuryanirban.choudhury is verified member.]

I need to book tickets, I am confused - should i use travel edge or go for upfront 10-12% discounts?

Take normal discounts bro
by the time you will get ER for that , Magnus Myzone ban chuka rhega

 

[indcreditcard]

accor points transfer working for folks here?

 

[004archit]

accor points transfer working for folks here?

yes

 

[kkk]

Kahani Suno 3.0
Devaluation ki kahani , Meri Jubaani

I went to Axis Connaught Place branch , and faked to apply Reserve , the RM there read out all the terms and conditions, excluding basic one these are the ones that we should care about

Annual waiver stays at 25 lakhs , Utility and Government spends not counted for waiver

Utility and governmemt spends won’t give ER

ER to transfer partner ratio including Accor is 5:1

Maximum 500,000 per customer ID can be transferred to partners

Changes to be applicable from 12th August.

I asked same changes on Magnus , he said Sir Magnus ka Av hold pe hai .

Then I went up and said , aata hu Bhogal k Chole Bhature kha k .

Do we get 50k ER on renewal(on or without payment of Rs. 59k)?

 

[anirban.choudhuryanirban.choudhury is verified member.]

Do we get 50k ER on renewal(on or without payment of Rs. 59k)?

50k ER only on payment

 

[VijayflyRaven]

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%

Which card gives unlimited base 1.2% cash rate (without milestone and cash equivalent like Amazon GC or statement credit and for offline and online) and charges less than 10k?

Axis ace I believe but it is hard to get if outside Google ecosystem. Infinia is hard to get. SC ultimate is not cash equivalent. If we don’t have anything, then 1.2% is not bad.

 

[ak93]

Which card gives unlimited base 1.2% cash rate (without milestone and cash equivalent like Amazon GC or statement credit and for offline and online) and charges less than 10k?

Axis ace I believe but it is hard to get if outside Google ecosystem. Infinia is hard to get. SC ultimate is not cash equivalent. If we don’t have anything, then 1.2% is not bad.

IDFC wealth gives 1.5% and 2.5% above 30k.
DCB gives 1.65%

 

[VijayflyRaven]

IDFC wealth gives 1.5% and 2.5% above 30k.
DCB gives 1.65%

I have Idfc wealth. It does not give offline 1.5%. It is just half of that below 30k. Nevertheless good one. A rare gem.
DCB is also good but has 10k charges I believe. 0.3 per point and I think 5x makes it 1.5%.

 

[mr_vasanth]

Which card gives unlimited base 1.2% cash rate (without milestone and cash equivalent like Amazon GC or statement credit and for offline and online) and charges less than 10k?

Axis ace I believe but it is hard to get if outside Google ecosystem. Infinia is hard to get. SC ultimate is not cash equivalent. If we don’t have anything, then 1.2% is not bad.

SBI cashback is best for online spends. Ace is best for offline spends.

 

[VijayflyRaven]

SBI cashback is best for online spends. Ace is best for offline spends.

Yes. But Ace needs android and unfortunately I missed it as I moved to ios and the offer was not showing up after ios shift.

 

[Anonymous ツ]

Yes. But Ace needs android and unfortunately I missed it as I moved to ios and the offer was not showing up after ios shift.

I applied ACE though Axis portal back in 2021 and got approved in first attempt. Also, ACE was my first credit card from Axis without any other prior relationship with axis.

 

[Deleted member 9785]

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

Babu bhaiya . Scheme ye hai

1) More Followers
2) More referrals
3) More paid tweets and promotions from banks and FIs

Followers = Public ki tarah gareeb, Influencers = Government ki tarah ameer

None of them disclose anything useful unless money is received . Sab hacks bad me pata chalte hai junta ko

Private Information = Credit Card Insider Trading

 

[VijayflyRaven]

I applied ACE though Axis portal back in 2021 and got approved in first attempt. Also, ACE was my first credit card from Axis without any other prior relationship with axis.

I just tried for Ace in axis portal. I don’t see it. I see everything else including Flipkart, Magnus, Samsung, etc.

Note: hard hit on CIBIL.

 

[D7162]

Which card gives unlimited base 1.2% cash rate (without milestone and cash equivalent like Amazon GC or statement credit and for offline and online) and charges less than 10k?

Flipkart axis - 1.5%,
tata neu 1.5% for general, 5% on bill payment
Even idfc millenia will be better

And also consider 10k annual fees as well

 

[rohitb]

Iska answer Kejriwal se hi pucho. Vo hi batayega.

 

[ak93]

I have Idfc7% wealth. It does not give offline 1.5%. It is just half of that below 30k. Nevertheless good one. A rare gem.
DCB is also good but has 10k charges I believe. 0.3 per point and I think 5x makes it 1.5%.

Oh yeah, offline is 0.75% for IDFC wealth.

DCB point value is 1 for travel, 0.5 for vouchers and 0.3 for cashback. Considering you get 5 points for 150 spent, it's 1% for direct cashback and 1.67% for vouchers. 5L waiver for fees is much better than 15L as well.