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

 

[D7162]

Other axis card holders to ace users

Uska number to pehle hi aa Gaya tha .

 

[bigbrain]

I followed up for a month continously with Axis RM and got the card not even a month back (first month statement is not yet generated). Only to see this devaluation 😡
I even followed up so much to get the Accor/ITC/Marriott memebership. Still waiting for membership.

Only happy that I got 50k ER within 2 days of recvieing the card and I even redeemed it to airmiles before the devaulation news came. Definetly closing this card before completing one year.

Since there is no redemption fees, I am going to start redeeming at end of every week with whatever points is posted in that week. I dont want to have any shocker as we get closer to 12/13th August.

 

[D7162]

, I am going to start redeeming at end of every week with whatever points is posted in that week. I dont want to have any shocker as we get closer to 12/13th August.

Every week to axis points credit hi nhi karta.. 😂😂

 

[Sharjeelshaikh]

I followed up for a month continously with Axis RM and got the card not even a month back (first month statement is not yet generated). Only to see this devaluation 😡
I even followed up so much to get the Accor/ITC/Marriott memebership. Still waiting for membership.

Only happy that I got 50k ER within 2 days of recvieing the card and I even redeemed it to airmiles before the devaulation news came. Definetly closing this card before completing one year.

Since there is no redemption fees, I am going to start redeeming at end of every week with whatever points is posted in that week. I dont want to have any shocker as we get closer to 12/13th August.

Sabse bura reserve walo ka kata hai

 

[ALOAK]

The suspense is killing us all. 🤣

Good bye gaya Khatam tata bye bye

 

[rogerthat]

I'm closing my Salary account with Citi as well. Not gonna do anything related to Axis Bank ever again

Well, I expected some sort of major ****up from Axis (though not at this level) and had opened an account with Standard Chartered because I wanted an account with a foreign bank. Will be closing my Citibank account as soon as it is migrated to Axis.

 

[bigbrain]

Every week to axis points credit hi nhi karta.. 😂😂

I meant whever they credit.. Still waiting for points for trancation done in first week of July and travel edge rewards from last week of June.

 

[rohit3887]

What a frakkin day to receive my Reserve card....what to do now.

 

[vaibhav111vaibhav111 is verified member.]

Ordered on Swiggy using axis select. After 14th august not sure how often would I order.

 

[ALOAK]

3.5 lakh for fee reversal are they nuts?

Yes they are giving marbles for us.ley ja ab khel.

 

[vaibhav111vaibhav111 is verified member.]

What a frakkin day to receive my Reserve card....what to do now.

🗑️

 

[mastfun]

What a frakkin day to receive my Reserve card....what to do now.

If u don't activate for 30 days , it will be auto closed without any joining fees 😀

 

[Sharjeelshaikh]

Meanwhile axis to reserve card holders

 

[4uziaul]

Ordered on Swiggy using axis select. After 14th august not sure how often would I order.View attachment 22516

Good for your health ab jaldi Diabetes nahi hogi 😂 Axis wale bhi fikar karte hain Dil Se 😂

 

[vikramsrit]

Just upgraded my limit on FK Axis CC today morning 🤣🤣
Closing the card in the evening.

 

[sharad131]

Aaj Magnus ki devaluation ki mail dekhe bina koi nahi soyega 🙂

 

[Wealth is my birth right!]

This thread lost its fire after weekend but today Flipkart card boosted again 😄

 

[SM24]

Woops…same here !

Is there an Axis Select Deval pdf also floating around?!

S&M

Ordered on Swiggy using axis select. After 14th august not sure how often would I order

 

[Harry1]

Woops…same here !

Is there an Axis Select Deval pdf also floating around?!

S&M

Can someone send select pdf also?

I somehow didn't get any sms yet.

 

[rogerthat]

Woops…same here !

Is there an Axis Select Deval pdf also floating around?!

S&M

There you go: https://www.axisbank.com/docs/defau...k-select-credit-card-terms-and-conditions.pdf

But in my opinion not as drastic as the other devaluations.