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

 

[yolosingh]

The problem with Turkish is that it makes sense only if you are from Delhi or Mumbai. Otherwise what would be a one-stop flight turns into a two (or more) stop flight with sometimes lengthy layovers... And that is something that you don't want to do.

But in most cases, I see flight fares far cheaper for Mumbai / Delhi than Bangalore. So I'll have to travel regardless to save that money (unless difference isn't worth it!)

 

[VijayflyRaven]

So right now government transactions including income tax payment valid for normal and milestones rewards points calculation right?

As of today, no change in the earning rate. However, by the time you get your points, your redemptions rate could change. Current redemption rate for me is ₹1.4 and it could become ₹0.2.

 

[sid16]

Yeah considering Vistara as an option. Although it's a bit expensive compared to Turkish.

Although, not very interested in domestic flights, since they're always more expensive in miles compared to LCC. Or are there instances where domestic flights are cheaper in miles?

There are instances, but mostly you will not find them on routes like Mumbai Delhi. Also, you will need to book these tickets in advance. Try different combinations of your liking and you'll find value in some routes.

 

[yolosingh]

Isnt Accor a good choice? Even apart from being a good hotel option to park ERs. It also can be used to transfer those points at later point of time to few of the airlines at the same ratio as Axis would. Kicking the can down the road - to give a year decide where to transfer miles eventually - to which airline partner. Am i missing something?

From what I could see, Accor to most miles program is 2:1. That's a direct loss. Can someone please confirm this?

 

[CARDBITRAGE]

Bhai Credit card business bank me bohot small portion contribute karta hai.

Usme bhi mass boycott krne k liye TF junta or twitter junta Magnus ke total customers se km hi honge.

Magnus unka bread n butter hai ye sochna bilkul galat hai. Ulta Magnus kuch abusers ke liye bread n butter hogya tha

I have to correct you there. The cards business accounts for more than 10% of revenue. A major chunk of it comes from the 3.4 million active Axis FK users. So it is quite substantial.

 

[Sharjeelshaikh]

I have to correct you there. The cards business accounts for more than 10% of revenue. A major chunk of it comes from the 3.4 million active Axis FK users. So it is quite substantial.

Not to forget they hold multiple cards u piss one customer closes all

 

[ADITYA1904]

As of today, no change in the earning rate. However, by the time you get your points, your redemptions rate could change. Current redemption rate for me is ₹1.4 and it could become ₹0.2.

I know but already spent some amount before devaluation so have to complete

 

[sid16]

From what I could see, Accor to most miles program is 2:1. That's a direct loss. Can someone please confirm this?

Take Accor only with the idea of hotels. For flights, choose Club Vistara or some other flight program as per your specific need. BTW, Club ITC is also pretty good, it will give you 1 Green Point = 1 Re. value for stays as well as dining. Also, you can convert 2 Green Points into 3 Marriott Bonvoy points, so that is also good value in case you need a Marriott property somewhere.

 

[PavanPavan is verified member.]

Axis bank is afraid nothing happening so just chill

 

[Sharjeelshaikh]

Axis bank is afraid nothing happening so just chill

As long as we hold the sword collectively on their neck with mass cancellation of cards we
C An have our way.thanks to social media

 

[mastfun]

Great work in killing the devaluation

 

[PiperatGatesofDawn]

Yeah their tax seems quite high. But 3 years miles expiry seems okay to me

Also, are you sharing based on your experience?

Yes. Flown with them plenty.

 

[bigbrain]

I'm new to the miles game. So no existing points to club with. Also, Singapore airlines seems too expensive. Like 2x of normal rates. It'd be a very bad return on points I feel.

Thanks for mentioning about the Turkish airlines. That's a bit risky Will checkout united

Is there any miles program where one can simply park points. And later move to any favourable program? I checked Accor but it converts to most miles 2:1. So it's a direct loss

I felt Singapore Airlines to be reasonable if flying East. I also heard very good reviews about food and space. I also saw it was reasonable for booking Air India to Europe. I was looking for flights 6 to 9 months in advance. So the economy seats looked attractive.

 

[PiperatGatesofDawn]

Is there any miles program where one can simply park points. And later move to any favourable program?

Yes it's called your credit card. It will stay nice and warm and safe there till you need to move it to your favourable program.

 

[Thomas244]

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

The risk is flights Are not very amenable to change of plans. Hotels are easy to cancel rebook

 

[Saarthak Parihar]

I have SC smart, HDFC Infinity Neu, IDFC wealth and BOB Eterna. Now I plan to add hdfc millennia and/or sbi cashback for those 5% cash backs. I would also see if I can switch to secondary android device and get Axis Ace.

Note: For me, 1 lakh milestone was possible due to school fees, e-commerce shopping, electricity bills, fuel via Fastag and HP Pay (government spend). Now all of these except education and shopping are gone. With these left, I cannot use 1 lakh milestone so easi

I have SC smart, HDFC Infinity Neu, IDFC wealth and BOB Eterna. Now I plan to add hdfc millennia and/or sbi cashback for those 5% cash backs. I would also see if I can switch to secondary android device and get Axis Ace.

Note: For me, 1 lakh milestone was possible due to school fees, e-commerce shopping, electricity bills, fuel via Fastag and HP Pay (government spend). Now all of these except education and shopping are gone. With these left, I cannot use 1 lakh milestone so easily.

Can you tell how would you do your spends? Like what spends on what card that you're holding currently. I'd have to get a few cards after the Magnus fiasco.

 

[kapsshah42]

Wanted opinion about whether to go for United mileageplus or Aeroplan.Both are Star Alliance partners but availability options for Aeroplan seem to be better than United as they have options for Etihad and emirates redemption as well (even though very limited).Also for AI redemption United just shows options from Del where as Aeroplan has direct flights from Mumbai.Is there anything I am missing?

 

[neogen]

94 pages and going

Iske upar to CID type serial banna mangta hai bidu

 

[Slayer]

94 pages and going

Iske upar to CID type serial banna mangta hai bidu

First thread to reach 100 pages

 

[neogen]

First thread to reach 100 pages

Till then what will people discuss? Who dunit?