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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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Axis Burgundy premium customer care senior confirmed that --

with plain Magnus,
All edge points from all 3-4 cards in your portfolio will get converted @5:2

with Burgundy Magnus,
All edge points from all 3-4 cards in your portfolio will get converted @5:4

All these speculations have been doing the rounds ever since Magnus deval talks started. Senior rep from Axis or Door man from Axis doesn’t change the fact that unless you get in writing from Axis all these are mere talks.

Most of us are waiting for it to go live to finally make use of these Edge reqarfds
 
I am planning to purchase a Car worth 8 lakh with my Magnus card... How many reward points should I expect from the transaction?
I have to negotiate the 2% he is charging me for the credit card transaction.

Is it a good decision?
Y r u paying 2% extra, as per RBI they shouldn’t charge u extra for using card. Ask him to show him in bill that he is charging extra 2% for card usages . He will deny bcos if he gives and u raise a complaint at RBI that showroom’s all card mechanics will be blocked for ever on his business name and no new mechanism will be issued for him on the same business name.
 
Y r u paying 2% extra, as per RBI they shouldn’t charge u extra for using card. Ask him to show him in bill that he is charging extra 2% for card usages . He will deny bcos if he gives and u raise a complaint at RBI that showroom’s all card mechanics will be blocked for ever on his business name and no new mechanism will be issued for him on the same business name.
Correct, also they earn at least 10% commission on selling a new car.
An expensive car is a BIG LIABILITY and also fast depreciating, guaranteed minimum 50% loss every 3 years.

No point trying to earn 2--4% on a credit card and throwing away lacs on depreciation, dealers commission, repair and maintenance, servicing, insurance, fuel, road tax, govt taxes, parking charges, etc
 
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Correct, also they earn at least 10% commission on selling a new car.
An expensive car is a BIG LIABILITY and also fast depreciating, guaranteed minimum 50% loss every 3 years.

No point trying to earn 2--4% on a credit card and throwing away lacs on depreciation, dealers commission, repair and maintenance, servicing, insurance, fuel, road tax, govt taxes, parking charges, etc
TheY never said they are buying car for just points. Let people enjoy, buddy.
 
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