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Axis Magnus Magnus, Reserve & Other Axis Bank Credit Cards | Devaluation w.e.f. 1st Sep 2023.

bugmenot

TF Legend
-- 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



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



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


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


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
 

Attachments

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Does SBI-Aurum deserve a place after the Magnus catastrophe, especially for those who cannot get a hold on Infinia? What is your opinion?

Avoid it completely
Best SBI card is SBI cashback card for 5% online with many exceptions.
2nd best is SBI BPCL Octane for 1+6.25% for fuel
 
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1) Is it worth buying international air tickets on Travel edge to get 60 points per Rs.200 using Magnus?

2) How overpriced are these tickets compared to --
a) the airline website
b) Online agents like MMT, Cleartrip, etc, which give 10% discount on international air tickets with various cards, (but charge convenience fees)?
They mostly aren’t overpriced or marginally are.

Buying from airline website gives you fare bucket options -
ie. Flexibility.

Aggregator discounts are 10K max.

1L worth of tickets on Travel Edge gives you 30K points.

No brainer, if you know how to utilise the 30K points.
 
Does this mean that Magnus is LTF for Burgundy customers and as long as they maintain that relationship?
i confirmed from axis customer care via email but they denied such thing mentioning the following:

"We regret to inform you that, currently as per our bank policies we are not sourcing life time free credit-card.

However, in future is there any possibilities our bank team will notified you via SMS on your registered mobile number."
 
They mostly aren’t overpriced or marginally are.

Buying from airline website gives you fare bucket options -ie. Flexibility.
Aggregator discounts are 10K max.

1L worth of tickets on Travel Edge gives you 30K points.
No brainer, if you know how to utilise the 30K points.
Now after the 5:2 ratio of conversion, is it better to use 30000 points for 12000 multi brand voucher or 12000 Accor points (if I only want city centre budget hotels like Ibis)?

I'm not sure if it's worth keeping 10 lakhs idle in a burgundy savings account just to get 5:4 ratio, or 30 lacs in fixed deposits to get the same 5:4 ratio
 
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I applied today for the Magnus card, where there was zero joining fees or Annual Fees until I manage my Burgundy status for same.

Also open a Burgundy for my sister as well.

I maintain my status via Salary currently. But soon planning to move funds in the accounts as HDFC is giving hard time since past 7 month with account upgrade.

Attach is the sms I received from them
Screenshot 2023-09-05 at 7.46.53 PM.png
 
Do you think it's worth keeping 10 lacs idle in a burgundy savings account or 30 lacs in a fixed deposit, just get the 5:4 conversion ratio?
If it's worth it then which of the two is better?
I have current acount and linked family members , so I am not actually losing anything as suggested by te other posts.So , I don't think I am the right person to have a say.
 
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