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

 

[pingtime]

If you haven't received for any of those, then raise complaint otherwise they will not transfer.
As for 8th transfer its already transferred in batch.

Already did, but as expected from Axis got the reply to wait for 5 working days before raising the complaint .

 

[Walter White]

Already did, but as expected from Axis got the reply to wait for 5 working days before raising the complaint .

Danda nikalo RBI ka

 

[typhoon]

Kaunsa yeh hafte jaana hai aapko.shanti rakhe

I have to book some pending booking,

 

[kalratush]

Got some points into my Aeroplan account today for transfer initiated on 10th evening, and also a transfer to Qatar privilege initiated on same day finally moved into processing/pending status

 

[vina]

View attachment 21988

View attachment 22033

Is it happening?

 

[Sharjeelshaikh]

Is it happening?

Already happened

 

[typhoon]

Already happened

Not now, but within next 2 month they will remove 25k bonus monthly milestone.

 

[Sharjeelshaikh]

Not now, but within next 2 month they will remove 25k bonus monthly milestone.

Ab Janata itna baar baar pooch Rahi toh abhi se baat boldo

 

[mojo_jojo123]

Already happened

now only gift edge multiplier has reduced which was itself a big number .. hope no more further devaluation happens as it will render card useless

 

[VijayflyRaven]

As of now, Magnus seems to be the best card available for me. I tried alternates and got rejected for them. So I have to make Magnus work for me

 

[Sharjeelshaikh]

As of now, Magnus seems to be the best card available for me. I tried alternates and got rejected for them. So I have to make Magnus work for me

C2c basis PE mil jayega offline

 

[VijayflyRaven]

C2c basis PE mil jayega offline

Yes next time planning to try from airport for SBI cashback card and Axis Ace. These two will be enough for me to use few tricks to increase reward rate.

 

[VijayflyRaven]

May be good news from Bank of baroda today. Last 3 months rewards was not working and they never resolved it. So I could not use Eterna for 3.75% cashback.

After some thought, I tried the lost card option and now my reward points are working again. If someone is not seeing reward points for bank of baroda, you can use lost card option to get a new card and everything will work.

Now this might be a close replacement for SBI cashback for me as it gives 3.75% + 2% = 5.75% for online spends that I do.

 

[MagnusExplorer]

Can we use Axis edge rewards to book a flight from travel edge, similar to smartbuy (with 70% reward points payment cap)? If yes, then what’s the ER to payment ratio?

 

[SuperKnight]

May be good news from Bank of baroda today. Last 3 months rewards was not working and they never resolved it. So I could not use Eterna for 3.75% cashback.

After some thought, I tried the lost card option and now my reward points are working again. If someone is not seeing reward points for bank of baroda, you can use lost card option to get a new card and everything will work.

Now this might be a close replacement for SBI cashback for me as it gives 3.75% + 2% = 5.75% for online spends that I do.

How Plus 2%?

 

[shushansh]

I believe Axis is deliberately rejecting Accor transfers now. I had initiated one on 10th, received a failed email yesterday.
Have been able to previously transfer to the same ID multiple times.

Additionally they have push the points refund timeline to 20 days, so you can't even reinitiate the transfer.

Any solution for this?

 

[Slayer]

How Plus 2%?

Should be +1%

 

[BVCBVC is verified member.]

I believe Axis is deliberately rejecting Accor transfers now. I had initiated one on 10th, received a failed email yesterday.
Have been able to previously transfer to the same ID multiple times.

Any solution for this?

View attachment 22758

Re-attempt.

Axis are very cautious in transferring the existing ER's. They've burned all the reserves on Accor transfer 5:4 which we get the great returns. Just try another time.

 

[shushansh]

Re-attempt.

Axis are very cautious in transferring the existing ER's. They've burned all the reserves on Accor transfer 5:4 which we get the great returns. Just try another time.

Can't even re-attempt. Points refund timeline is now 20 days, instead of the instant refund earlier.

 

[BVCBVC is verified member.]

Seems Axis has become over smart these days. As discussed on forum earlier seems some Axis guys are being visiting the forum to observe the users pattern and behaviour.