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

 

[Reward Hunter]

Better stop hitting milestone as reward points will come after Aug, no use.

 

[hari99]

True I also received

He sent this pic on WhatsApp and the messaged a few mins later to wait for link/sms

 

[Deleted member 9785]

Humour only :

Axis CEO read the mint article and called sales main team - To is tarekke se tum sales bada rahe ho ek saal se itna rewards deke 😡

 

[Slayer]

Magnus devalue ho ya na ho.

@TechnoFino bro is so happy because

Mast views aa rahe hai forum me. 😍😍

Dada toh apna relations bandh kar chuke hain Axis ke sath

Unko toh maze hi a rahe honge

 

[Deleted member 11974]

1.is the pdf uploaded on the banks website.
2.the mcc codes for utilites and government.did someone validate them with other pdfs on the banks website

 

[jack333]

Magnus devalue ho ya na ho.

@TechnoFino bro is so happy because

Mast views aa rahe hai forum me. 😍😍

I think he deserves that much. He took the initiative to start such a forum when there were none in India. Moreover the annoying adds have been reduced

 

[VISHESH_BANSAL]

1.is the pdf uploaded on the banks website.
2.the mcc codes for utilites and government.did someone validate them with other pdfs on the banks website

MCCs are correct

 

[Slayer]

1.is the pdf uploaded on the banks website.
2.the mcc codes for utilites and government.did someone validate them with other pdfs on the banks website

Validated the MCC codes and it seems like they copied from CITI website
As the MCCs are listed in the pdf in that order (of each section) and the MCCs are correct

 

[hari99]

Hit a pub with easy diner prime 50% off courtesy Magnus

Easy Diner is also for First year after that it is not renewed even we continue magnus

 

[Slayer]

I think he deserves that much. He took the initiative to start such a forum when there were none in India. Moreover the annoying adds have been reduced

10x better than R/CreditCardsIndia

 

[rogerthat]

What would you said for Icici Emeralde , Kotak white reserve , IndusInd indulge , pioneer metal heritage etc ?

Magnus was positioned as a rewards card. The others are mainly lifestyle cards...

ICICI Emeralde - Similar. Very poor rewards. Good thing is the airport Spa benefit.
Kotak White Reserve - Club Marriot membership, and returns are somewhat OK for high spenders.
Never understood any IndusInd cards or their bank in general. Legend card was once 10K fees now is being given LTF like free buns. I too got one 😆

 

[Abhishek012]

Vimal has sent another message with screenshots of the revision

??

 

[jack333]

Vimal has sent another message with screenshots of the revision

Please share

 

[thanix]

Yes looks like Reserve is also not spared. And select credit card too has some restrictions

 

[Deleted member 16965]

 

[anirban.choudhuryanirban.choudhury is verified member.]

 

[Venky]

In no way I want to put my future travel plans in jeopardy. So I just transferred a trip worth of ER to Turkish again. 🥲

 

[Deleted member 9785]

Magnus devalue ho ya na ho.

@TechnoFino bro is so happy because

Mast views aa rahe hai forum me. 😍😍

2 cents : Axis magnus and reserve created a big buzz in cc community to spend enormous time to get points which were worth it as they were reaching 50% of spent even. If the reward goes , people start reducing attention on cards and get back to their life

Will you spend so much time and energy now for 2-3-5% returns now. Even at 10-15 lac annual expense that is hardly around 50-70k.

 

[anirban.choudhuryanirban.choudhury is verified member.]

In no way I want to put my future travel plans in jeopardy. So I just transferred a trip worth of ER to Turkish again. 🥲

This will effect from 13th August

 

[rohitb]

What would you said for Icici Emeralde , Kotak white reserve , IndusInd indulge , pioneer metal heritage etc ?

With Emeralde, You do get 5k worth vouchers for birthday month and 2 cancellation of airlines and hotels capped it 12k though.