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

 

[Walter White]

This

Axis screwed up its own base and alienated Citi loyalists who were never happy with Axis at the first place in what can be called as a reverse masterstroke.

Axis Bank is Nirmala Sitharaman of the banking sector.

 

[CARDBITRAGE]

To be eligible for a LTF card, you need to be salaried, and your company name must be on their list.

@vaibhav111 said it would be LTF through swipe-up. I'm self-employed, so I wouldn't want the card if it is paid, and waste a cibil enquiry.

 

[vaibhav111vaibhav111 is verified member.]

Even for 5L, it showed Zenith for me, but for a LTF card, you need to be salaried, and your company must be on their list.

Edit: Yeh toh off-topic ja rahe hain

Nope not true bruh, my friend who is self employed have zenith ltf and I would be applying for the card soon and earlier during my rejection even I was offered zenith ltf

 

[Hisoka]

Since is thread pe engagement kafi hai. Tax bharne ke liye kaunsa card use karu?

Magnus, Vistara Signature ya SBI Cashback?
Cashback govt transactions pe shayad 1% deta hai na?

Any other suggestions are welcome

 

[Walter White]

Since is thread pe engagement kafi hai. Tax bharne ke liye kaunsa card use karu?

Magnus, Vistara Signature ya SBI Cashback?
Cashback govt transactions pe shayad 1% deta hai na?

Any other suggestions are welcome

Axis cards se door hi raho ab

 

[ADITYA1904]

P

To be eligible for a LTF card, you need to be salaried, and your company name must be on their list.

Please someone experienced clear this matter?

 

[vaibhav111vaibhav111 is verified member.]

@vaibhav111 said it would be LTF through swipe-up. I'm self-employed, so I wouldn't want the card if it is paid, and waste a cibil enquiry.

You can wait for me then I will applying for the 2nd time and my application that was reject cause of kyc issue I was offered zenith ltf against with infinia

 

[Hisoka]

Axis cards se door hi raho ab

Is mahine ka milstone pura kar hi leta hun, kya pata ye sab sapna ho aur Axis 5:1 ka 1:5 kar de

 

[thanix]

Has Magnus joined the party or not yet?

 

[Walter White]

Is mahine ka milstone pura kar hi leta hun, kya pata ye sab sapna ho aur Axis 5:1 ka 1:5 kar de

Jo bank entry level cards ko pel diya vo Magnus intact nhi rakh payega.

 

[VISHESH_BANSAL]

Jo bank entry level cards ko pel diya vo Magnus intact nhi rakh payega.

Magnus ki baarat jaan ke late niklegi kyuki dhula janta hai , Dulhaan mandap se bhaag gayi hai.

 

[sharad131]

Axis ke baki cards ko maut mili......Magnus ko jhinga la la mil raha hai.....LOL

 

[Walter White]

Axis ke baki cards ko maut mili......Magnus ko jhinga la la mil raha hai.....LOL

Toofan se pehle ki shanti hai yeh Magnus ke liye

 

[thanix]

Axis Bank is Nirmala Sitharaman of the banking sector.

True, she decimated my Delta corp position with GST yesterday. Today it is Axis turn

Both of them be like Oppenheimer -

"I am become death. The destroyer of the worlds"

 

[mastfun]

Has Magnus joined the party or not yet?

Not Yet

 

[4uziaul]

Nope not true bruh, my friend who is self employed have zenith ltf and I would be applying for the card soon and earlier during my rejection even I was offered zenith ltf

I was told by an AU Bank employee that the LTF is conditional. It's not available for everyone, and through Swipe Up, it's definitely not LTF for everyone. Let me tag him here; maybe he can clarify the situation for us. @deep@vie

 

[Hisoka]

Magnus ki baarat jaan ke late niklegi kyuki dhula janta hai , Dulhaan mandap se bhaag gayi hai.

Magnus to other Axis cards’ devaluation be like

 

[phagocyte536]

HERE IS THE NEWS GUYS- OFFICIAL

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

Abe

 

[S.S.]

Qayamat se Qayamat tak.

 

[SSV]

P

Please someone experienced clear this matter?

I do not have first hand experience but what @4uziaul is saying correct...