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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

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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Give me any logical answer to why someone would spend 50k on reserve credit card

Users will get 50k reward points which in best case scenario translate to 10-15k rupees if let’s say used very precisely. Where does one earn back rest of 44k (35+ 9k gst) from, adding the fact that they have excluded most of the transactions which would be of high transaction amount : utilities and govt txns ? I simply can’t understand the logic behind this move. The product managers at Axis must really be dumb I guess.

If someone can really explain, I’m very eager to listen the use case here
 
Upvote 0 Downvote
kapoorsanyam said:
Give me any logical answer to why someone would spend 50k on reserve credit card

Users will get 50k reward points which in best case scenario translate to 10-15k rupees if let’s say used very precisely. Where does one earn back rest of 44k (35+ 9k gst) from, adding the fact that they have excluded most of the transactions which would be of high transaction amount : utilities and govt txns ? I simply can’t understand the logic behind this move. The product managers at Axis must really be dumb I guess.

If someone can really explain, I’m very eager to listen the use case here
Click to expand...
People won't take MyZone even if offered LTF. Reserve toh door ki baat hai ab. 😂
 
Upvote 0 Downvote
kapoorsanyam said:
Give me any logical answer to why someone would spend 50k on reserve credit card

Users will get 50k reward points which in best case scenario translate to 10-15k rupees if let’s say used very precisely. Where does one earn back rest of 44k (35+ 9k gst) from, adding the fact that they have excluded most of the transactions which would be of high transaction amount : utilities and govt txns ? I simply can’t understand the logic behind this move. The product managers at Axis must really be dumb I guess.

If someone can really explain, I’m very eager to listen the use case here
Click to expand...
I think they feel that they have enough userbase. Now, it is the time to consolidate and focus on profitability. They are just trying to stop the bleeding. But it is just my opinion.
 
Upvote 0 Downvote
kapoorsanyam said:
Give me any logical answer to why someone would spend 50k on reserve credit card

Users will get 50k reward points which in best case scenario translate to 10-15k rupees if let’s say used very precisely. Where does one earn back rest of 44k (35+ 9k gst) from, adding the fact that they have excluded most of the transactions which would be of high transaction amount : utilities and govt txns ? I simply can’t understand the logic behind this move. The product managers at Axis must really be dumb I guess.

If someone can really explain, I’m very eager to listen the use case here
Click to expand...

I guess they think that people might have become used to travelling in BMW/Merc for airport transfers. And they just can’t travel in swift dzire.

Also they think the itc membership and falana dhikana things we get with reserve is why people use reserve.

Their bubble will burst soon, don’t worry.
 
Upvote 0 Downvote
kapoorsanyam said:
Give me any logical answer to why someone would spend 50k on reserve credit card

Users will get 50k reward points which in best case scenario translate to 10-15k rupees if let’s say used very precisely. Where does one earn back rest of 44k (35+ 9k gst) from, adding the fact that they have excluded most of the transactions which would be of high transaction amount : utilities and govt txns ? I simply can’t understand the logic behind this move. The product managers at Axis must really be dumb I guess.

If someone can really explain, I’m very eager to listen the use case here
Click to expand...
Lifestyle card hai Aisa bol k bechenge.. platinum charge and centurion k tarah
 
Upvote 0 Downvote
WhoU said:
I guess they think that people might have become used to travelling in BMW/Merc for airport transfers. And they just can’t travel in swift dzire.

Also they think the itc membership and falana dhikana things we get with reserve is why people use reserve.

Their bubble will burst soon, don’t worry.
Click to expand...
Most of Reserve's user base will most likely move to Amex Platinum. BMW/Merc ke bina bhi travel ho jaata hai. 😂
 
Upvote 0 Downvote
kapoorsanyam said:
Give me any logical answer to why someone would spend 50k on reserve credit card

Users will get 50k reward points which in best case scenario translate to 10-15k rupees if let’s say used very precisely. Where does one earn back rest of 44k (35+ 9k gst) from, adding the fact that they have excluded most of the transactions which would be of high transaction amount : utilities and govt txns ? I simply can’t understand the logic behind this move. The product managers at Axis must really be dumb I guess.

If someone can really explain, I’m very eager to listen the use case here
Click to expand...
Product Managers in general are dumb

Endia is a place where very few inhouse companies implement and employ proper Product Managers
 
Upvote 0 Downvote
Date - 13 AUGUST 2023

9:00 am: WELCOME TO AXIS BANK CREDIT CARDS. YOUR APPLICATION IS APPROVED. CONGRATULATIONS ON BEING THE FIRST AND ONLY ACTIVE CC HOLDER OF AXIS BANK.

9.30 am: WE IDENTIFIED THAT AXIS BANK CREDIT CARD NO. XXXX WAS ERRONEOUSLY ISSUED TO YOU. AS A CORRECTIVE MEASURE, WE WILL CLOSE THE CARD AND REVERSE ANY FEES, IF LEVIED. 😂
 
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