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

 

[supperman]

Maybe Axis is done for the day. Devaluations for FK, Select, Privilege, MyZone came rattling one after the other in quick succession. It's been some time and no other card has gone under the knife.

 

[sharad131]

Magnus ka product manager Veeru Sahastrabudhi hain.....raat 12 baje results declare karega 🙂

 

[coinhunter]

I can't find any logic in what Axis is doing at all. What I can guess is

1. Axis bit off more than they can chew with the Citi acquisition with its high-demanding HNI and premium customers.
2. Axis then revamped their credit card portfolio with new designs and launched premium cards to attract and retain said Citi customers.
3. They then acted like the typical Indian private bank by offering said cards to everyone they could find or not to meet "targets".
4. Now they are bleeding badly with Magnus and Reserve and are running around blindly in panic mode trying this and that to fix the situation.
5. They are now ending up losing both Citi customers and their premium card customers and management is making surprised Pikachu faces.

The only logical conclusion is that every single person on the Axis Bank management team is incredibly stupid. They are so far up their corporate ***** that that they have lost all touch of reality. Every single management meme can now be applied to them. They somehow expect people to keep a 60k card because idk they like the design or something? Are they even living in the real world??

Axis Bank's current conundrum sounds like a perfect case study for future MBA students on 'How Not To Conduct a Business Acquisition and Retain Premium Customers.'

 

[vaibhav111vaibhav111 is verified member.]

Woops…same here !

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

S&M

It just my assumption as per leak pdf and if myzone minimum order tp avail myzone 120off is 500 rs then obviously select will too get devalued.

 

[Walter White]

Axis Bank's current conundrum sounds like a perfect case study for future MBA students on 'How Not To Conduct a Business Acquisition and Retain Premium Customers.'

Is category me itne examples hai ki Axis ki koi mention bhi na kare. Axis could have done great ki uske upar case study banate log. But it chose to be mediocre.

 

[supperman]

It just my assumption as per leak pdf and if myzone minimum order tp avail myzone 120off is 500 rs then obviously select will too get devalued.

Select Link -

https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/axis-bank-select-credit-card-terms-and-conditions.pdf

 

[WhoU]

This makes axis vistara infinite the best value for money card by Axis?

 

[Walter White]

This makes axis vistara infinite the best value for money card by Axis?

Zyada tareef mat karo. Abhi Axis ek aur bomb gira dega. Aj waise bhi dar ka mahaul hai. 🙄

 

[Vickymaster1010]

Uska b number aayega

This makes axis vistara infinite the best value for money card by Axis?

 

[sharad131]

Folks - Isn't it surprising on serious note that no T&C change for Magnus yet? Something is definitely going on!!!

 

[chbhk619]

With all these changes... How about Atlas card? Is it a good choice?

 

[supperman]

Folks - Isn't it surprising on serious note that no T&C change for Magnus yet? Something is definitely going on!!!

Their Admin clocked out for the day. Maybe he's busy redeeming his own points.

 

[Walter White]

Folks - Isn't it surprising on serious note that no T&C change for Magnus yet? Something is definitely going on!!!

Raat ko ayega. 13th July ko hi Magnus ki teervi kari jayegi.

 

[Walter White]

With all these changes... How about Atlas card? Is it a good choice?

Atlas will also be in firing line soon if not today.

 

[Ninad97]

Oppenheimer aane se pehle axis ne gira diya bomb sabpe

 

[Walter White]

Oppenheimer aane se pehle axis ne gira diya bomb sabpe

Aj toh ICICI bhi has rha hoga Axis par 😛

 

[Harry1]

It just my assumption as per leak pdf and if myzone minimum order tp avail myzone 120off is 500 rs then obviously select will too get devalued.

Any idea why select card devaluation includes priority pass domestic lounge list? Was it also free earlier for all domestic visits similar to Magnus?

 

[vaibhav111vaibhav111 is verified member.]

You receive on your mail?

Select Link -

https://www.axisbank.com/docs/default-source/default-document-library/credit-cards/axis-bank-select-credit-card-terms-and-conditions.pdf

 

[supperman]

Aj toh ICICI bhi has rha hoga Axis par 😛

They must be polishing their Emeralde card.

 

[supperman]

You receive on your mail?

Don't have Select.