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Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

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bugmenot

TF Legend
-- 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


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


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

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

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
 

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manas_rock said:
I have got inifnia too. But it doesn't give any reward on income tax payments.
Pls suggest good cards for tax payment of 1 cr every year.

I don't have much problem with magnus devaluation- but it stopped tax payment 100%. Tax surcharge is 0.5% extra. And, I usually don't have cash in bank account. How will I pay taxes then?
Click to expand...
The only cards that now give boundless rewards on government transactions are SBI Cards. You could try for SBI Aurum and SBI Vistara Prime.

SC Ultimate and Axis Ace give 2% but both are notoriously hard to obtain.

Also if you could consider "something is better than nothing" you can try ICICI Emeralde. I think this would be the best option because all the others would probably block your card if you make recurring transactions of such high value. And SBI gives pathetic credit limits. ICICI is known to be very generous with that.

Another option would be to open a business card account and utilise your tax payments as business transactions.
 
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Hi My reserve card is approved and dispatched few days ago and I am supposed to receive card tommorrow . I am not intending to activate it before the official clarity is made . If it is devalued Can anybody guide me how to get the Retention department of axis to dole out some other benefits for me. Also if i activate it tomorrow what is expected time to receive 50k points . I know it is says 30 days but has anyone received it earlier. I dont mind activating it if i can get the 50k points and transfer it to accor within the timeframe. Thanks
 
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rohit3887 said:
Hi My reserve card is approved and dispatched few days ago and I am supposed to receive card tommorrow . I am not intending to activate it before the official clarity is made . If it is devalued Can anybody guide me how to get the Retention department of axis to dole out some other benefits for me. Also if i activate it tomorrow what is expected time to receive 50k points . I know it is says 30 days but has anyone received it earlier. I dont mind activating it if i can get the 50k points and transfer it to accor within the timeframe. Thanks
Click to expand...
I activated card on 28th june and got points on 6th July during their weekly point credit cycle.
 
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One last time 🤣

We gather here today to bid farewell to a faithful companion, a constant source of convenience and sometimes temptation, but now, alas, our devalued Magnus. Today, we reflect upon the memories and experiences we shared with this once esteemed financial tool.

Like many relationships in life, our association with this credit card began with promise and excitement. It arrived in our mailboxes, shining brightly with its sleek design, promising limitless possibilities and granting us access to a world of purchasing power. It was there for us in times of need, providing a safety net and allowing us to overcome unexpected challenges. Together, we embarked on adventures, both big and small, as this card became a partner in our financial journeys.

But as time passed, the landscape changed, and the once generous terms and benefits of this credit card gradually faded away. The devaluation began, and we found ourselves confronted with higher interest rates, fewer rewards, and increased fees. Our beloved card, once a beacon of financial freedom, became a burden, a symbol of disappointment and frustration.

Yet, as we gather here today, let us not dwell on the regrets or the missed opportunities. Instead, let us remember the moments of joy and convenience that this credit card brought into our lives. It stood by our side during celebratory occasions, enabling us to spoil our loved ones and create lasting memories. It provided a temporary escape from the everyday, offering us the chance to indulge in life's pleasures, whether it was a spontaneous vacation or a special treat.

Through its devaluation, this credit card has taught us valuable lessons. It has reminded us of the importance of adaptability and resilience in the face of change. It has shown us that the true value lies not in material possessions or extravagant perks, but rather in the relationships we build and the experiences we cherish.

As we say our final goodbyes to this devalued credit card, let us remember that it was just a tool—a tool that can be replaced. Our financial journeys will continue, and we will find new cards that better align with our needs and aspirations. We will adapt, grow, and learn from this experience, ensuring that our future choices are informed and empowered.

So, let us bid farewell to this devalued credit card, acknowledging its role in our lives and the lessons it taught us. May it rest in peace, knowing that its time with us was not in vain. As we move forward, let us embrace the possibilities that lie ahead, armed with the wisdom gained from this chapter in our financial story.

Thank you
 
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Walter White said:
One last time 🤣

We gather here today to bid farewell to a faithful companion, a constant source of convenience and sometimes temptation, but now, alas, our devalued Magnus. Today, we reflect upon the memories and experiences we shared with this once esteemed financial tool.

Like many relationships in life, our association with this credit card began with promise and excitement. It arrived in our mailboxes, shining brightly with its sleek design, promising limitless possibilities and granting us access to a world of purchasing power. It was there for us in times of need, providing a safety net and allowing us to overcome unexpected challenges. Together, we embarked on adventures, both big and small, as this card became a partner in our financial journeys.

But as time passed, the landscape changed, and the once generous terms and benefits of this credit card gradually faded away. The devaluation began, and we found ourselves confronted with higher interest rates, fewer rewards, and increased fees. Our beloved card, once a beacon of financial freedom, became a burden, a symbol of disappointment and frustration.

Yet, as we gather here today, let us not dwell on the regrets or the missed opportunities. Instead, let us remember the moments of joy and convenience that this credit card brought into our lives. It stood by our side during celebratory occasions, enabling us to spoil our loved ones and create lasting memories. It provided a temporary escape from the everyday, offering us the chance to indulge in life's pleasures, whether it was a spontaneous vacation or a special treat.

Through its devaluation, this credit card has taught us valuable lessons. It has reminded us of the importance of adaptability and resilience in the face of change. It has shown us that the true value lies not in material possessions or extravagant perks, but rather in the relationships we build and the experiences we cherish.

As we say our final goodbyes to this devalued credit card, let us remember that it was just a tool—a tool that can be replaced. Our financial journeys will continue, and we will find new cards that better align with our needs and aspirations. We will adapt, grow, and learn from this experience, ensuring that our future choices are informed and empowered.

So, let us bid farewell to this devalued credit card, acknowledging its role in our lives and the lessons it taught us. May it rest in peace, knowing that its time with us was not in vain. As we move forward, let us embrace the possibilities that lie ahead, armed with the wisdom gained from this chapter in our financial story.

Thank you
Click to expand...
Which AI tool?
 
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