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]

I am continuing my spends on magnus this month too till I reach 1L. Almost 85% there.. looks like anything is possible in axis world

 

[phagocyte536]

So the only card that got SMS is FK axis... And it's document is still in domain. So we can assume for now that SMS is the final call of devaluation, not a pdf on their domain.. majaak majaak me PDFs daalte rehte hai

 

[emadiqbalali]

Man I really hope they modify the changes proposed to make it still worth to keep using magnus. Like atleast some renewal coupon, or like 5:2 reward

Yes, I am hoping the same.

 

[twistedtarp]

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

 

[redmanc]

View attachment 22602

New to this transfer game.. Accor points can only be used for travel and hotels?

 

[mojo_jojo123]

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

yes I am also planning to Accor .. I have just few points .. haven't received even a single monthly milestone yet..

 

[rj_arora]

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

accor

 

[CARDBITRAGE]

While all of us are addicted to Axis products, their team seems to be hooked to something else! It is impossible to underestimate them.

 

[twistedtarp]

New to this transfer game.. Accor points can only be used for travel and hotels?

For dining, events, cabs, hotels.
Highest utilization is for dining and hotels where 2000 points = 40 EUR; in other cases, it is 20 EUR

 

[shibili]

New to this transfer game.. Accor points can only be used for travel and hotels?

No, you can convert ALL points to its associated air mile partners also.
See the bottom of this link, there are 30 airline partners, but conversion ratio varies airline to airline.

Accor Partners - Airlines

Enjoy exclusive benefits and offers with Accor's Airline partners.

all.accor.com

 

[Slayer]

While all of us are addicted to Axis products, their team seems to be hooked to something else! It is impossible to underestimate them.

They say never get high on your own supply

 

[neogen]

All the PDFs shared yesterday have indeed disappeared!

This entire thing now has become more complicated than the DARK series.

Very clear.. Axis Bank management and employees are reading this thread very closely and acting upon.

 

[NOOBY]

However, bugmenot isn't a mod. He is a member of the same group as us, but this post is on a public forum.

I tagged him as he was the owner of the thread/post and so, I assumed he too can edit it from time to time as details unveil

 

[vikramsrit]

Have an Axis FK card. Received no SMS or email yet. What do I conclude?

 

[Chaitanya-a]

Have an Axis FK card. Received no SMS or email yet. What do I conclude?

Devaluation is still happening.

 

[CARDBITRAGE]

Have an Axis FK card. Received no SMS or email yet. What do I conclude?

Keep it irrespective. It has the same base reward rate as Axis Reserve now.
On a serious note, here's the link

 

[Quiksilver27]

Have an Axis FK card. Received no SMS or email yet. What do I conclude?

Conclusion is you are eligible for a lifetime paid upgrade for Axis Reserve! Congratulations!!

 

[Quiksilver27]

Dont worry guys, Axis ne Reserve ki kasam khayi hai ki woh Magnus ko devalue nahi karenge!!

 

[S.S.]

Dont worry guys, Axis ne Reserve ki kasam khayi hai ki woh Magnus ko devalue nahi karenge!!

Reserve ko to goli mar di, ab magnus ka sar tan se juda karne ka waqt aa gaya hai. Uske baad axis underground ho jayega.

 

[yolosingh]

I just got magnus in April. Have hit all 3 months milestone - April, May and June. But I guess I'll only receive the April one before the deval.

So I'll have roughly 60k points. I don't find it much valuable to receive hotel stays for points, since it reduces my choice and hotels are subjective (very cheap to very expensive). I think flights make more sense, given economy flights are more commoditised.

Given this, which program would be the best to withdraw my points to? No travel plans yet, ideally wanted to use these points for flight tickets for Europe. From what I could research, turkish airlines seemed like the cheapest for flights. But would it be a good choice to withdraw to turkish miles without a solid travel plan?

Would really appreciate any suggestions/help