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

 

[phagocyte536]

Maybe they asked Akanksha Rao to properly update the filenames before posting. Axis Bank is increasingly looking like it is being managed by a bunch of 4-year olds with a box of crayons and some sheets of paper.

Akansha Rao if she has linkedin subscription must be seeing crazy increase in profile views she has the right platform to become a LinkedIn celebrity now

 

[ishanmontella]

Done bro, yes it was the cache

This link is not working. It might be cache you are seeing. Please use different browser or incognito mode.

 

[hari99]

Team having around 20k edge points and want to transfer them as for sure Magnus also will get devalued for sure, can you suggest which partner is best in Hotel category

 

[Sharjeelshaikh]

Team having around 20k edge points and want to transfer them as for sure Magnus also will get devalued for sure, can you suggest which partner is best in Hotel category

Mujhe dedo..

 

[Walter White]

At this point of time, Axis has shown that it is more mismanaged than some of the sarkari banks in this country.

 

[Sharjeelshaikh]

At this point of time, Axis has shown that it is more mismanaged than some of the sarkari banks in this country.

Hsohyar hote hai bankers....kab goti gayab karde pata bhi na chale

 

[rogerthat]

Meanwhile Axis CMS team be like

Axis card devaluation.pdf
Axis card devaluation-revised.pdf
Axis card devaluation-final.pdf
Axis card devaluation-revised-final.pdf
Axis card devaluation-real-revised-final.pdf
Axis card devaluation-really-real-revised-final.pdf
Axis card devaluation-really-real-revised-finally-final-pinky-promise.pdf

 

[Sharjeelshaikh]

Hsohyar hote hai bankers....kab goti gayab karde pata bhi na chale

They know well sabse jyaada biknewala magnus hai it's their usp .I too am waiting to see what next for magnus . isiliye abhi tab hold PE hai.sabki Bali de di isko rakha hai

 

[hungryPanda]

Axis bank Seniors when promoting card with 5x/10x mere naam se file upload kar.

When devaluating -> junior ko mauka dia jaye

 

[Sharjeelshaikh]

I pity reserve Wale 60000 bharke myzone ka conversion rate enjoy kar rahe.....

 

[vaibhav111vaibhav111 is verified member.]

File is uploaded in axis domain.. genuine 100%. But they can still do a U turn (hopeful me)

I have FK and MyZone. Got message only for FK . Did anyone get message for myzone?

nope for myzone have recieved no communication till now.

 

[vaibhav111vaibhav111 is verified member.]

As the tread is now whooping 88 pages (at the time of writing this post), I request @bugmenot and/or Moderators to take over the post by keeping the first post updated with all the news and facts/links/etc so that people (like me) coming after 1/2 days don't have to scroll through 20/30 pages

First post contain nothing but images. I suggest changing that to smaller thumbnails (or links) and updating the post as and when new information keeps coming

Sure, I will update the first post once all the information is available. However, @bugmenot isn't a mod. He is a member of the same group as us, but this post is on a public forum.

 

[vaibhav111vaibhav111 is verified member.]

Wow, just 10 more pages to reach 100 pages! But there's still no sign of Magnus, and the Reserve officials have devalued the currency through SMS & Email. Our community has gained the highest traction since yesterday, leading up to Magnus's devaluation.

 

[hari99]

Mujhe dedo..

Sure but not free send 15k

 

[Sharjeelshaikh]

Wow, just 10 more pages to reach 100 pages! But there's still no sign of Magnus, and the Reserve officials have devalued the currency through SMS & Email. Our community has gained the highest traction since yesterday, leading up to Magnus's devaluation.

Humne toh aapki jhili bhardi tweet karkarke aap bhi 1000 rupees gpay kardo subhankar Bhai ko bolke

 

[Pra]

Seriously beyond expectations

 

[hari99]

Guys having around 20k edge points and want to transfer them as for sure Magnus also will get devalued for sure, can you suggest which partner is best in Hotel category, To transfer them, i know points are less compared to you all old veterans in Magnus, Our trees are going to cut before fruits are Grown

 

[CARDBITRAGE]

This only means that there is so much of mismanagement on Axis' side.

Axis: Why do you want to work for us?
Applicant: I actually don't want to work here.
Axis: You're hired!

ref: https://thewire.in/banking/more-tha...nk-staff-quit-in-fy2023-reveals-annual-report

 

[phagocyte536]

File is uploaded in axis domain.. genuine 100%. But they can still do a U turn (hopeful me)

I have FK and MyZone. Got message only for FK . Did anyone get message for myzone?

Lol on my own comment.. they actually did a u turn

 

[kalratush]

Transfer to Accor. Your 20k points there are worth approx. 35000 INR

Guys having around 20k edge points and want to transfer them as for sure Magnus also will get devalued for sure, can you suggest which partner is best in Hotel category, To transfer them, i know points are less compared to you all old veterans in Magnus, Our trees are going to cut before fruits are Grown