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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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Since you are a Burgundy account holder, did you receive any NEW Burgundy Magnus card which is chargeable?

The original Magnus card which all of us have is certainly chargeable, and even I paid 11800 and got a 10000 Tata Cliq voucher in August 2023
Haven’t received any burgundy Magnus yet.
Good for you got it in Aug.
Mine was in Sept so only fees and no Tata cliq.
 
Have you received the Magnus Burgundy card?
how does the return work out 8%?
No one has received the card yet. No one has even received the consent email to upgrade from Magnus to Burgundy Magnus. Everyone eligible will get the email together only which as per Axis is supposed to happen “shortly”. But there is no timeline on what “shortly” means but my guess would be sometime next week consent email should be received and after that getting the new card might take another 1-2 weeks.
 
It's really amazing that after causing so much mass confusion and consternation, Axis is still dragging its feet over this. A prompt implementation can help put the past behind and have customers look forward. The delay and silence is only adding to the negativity that they created. They have a great opportunity to onboard numerous burgundy accounts. So many missed opportunities. A classic study on how not to manage a business.
 
It's really amazing that after causing so much mass confusion and consternation, Axis is still dragging its feet over this. A prompt implementation can help put the past behind and have customers look forward. The delay and silence is only adding to the negativity that they created. They have a great opportunity to onboard numerous burgundy accounts. So many missed opportunities. A classic study on how not to manage a business.
Exactly am even considering removing all funds till they fix up
 
I'm struggling to decide between Axis Vistara Infinite and Atlas. So far leaning towards Atlas. Maybe there is higher value in the Infinite due to business class flight vouchers, but the Atlas has the flexibility of using points on several airlines. Any comments welcome!
 
I'm struggling to decide between Axis Vistara Infinite and Atlas. So far leaning towards Atlas. Maybe there is higher value in the Infinite due to business class flight vouchers, but the Atlas has the flexibility of using points on several airlines. Any comments welcome!
In infinite you are bound to stick to a single airline
Not sure if you can redeem those on Singapore airline flights.
But atlas gives you flexibility as you mentioned.
If you are a international traveller then go for atlas
 
I'm struggling to decide between Axis Vistara Infinite and Atlas. So far leaning towards Atlas. Maybe there is higher value in the Infinite due to business class flight vouchers, but the Atlas has the flexibility of using points on several airlines. Any comments welcome!
Go for Atlas

I have both. Off late, there is very low availability of award for Biz class in Vistara. Moreover, the voucher once issued has validity of 3 months, and it's almost impossible to get biz class seat using voucher.
 
Go for Atlas

I have both. Off late, there is very low availability of award for Biz class in Vistara. Moreover, the voucher once issued has validity of 3 months, and it's almost impossible to get biz class seat using voucher.
True. If someone is chasing milestone cards(specifically Vistara) for specific spends, go for the ones that offer economy or premium economy seat vouchers. Finding a business award on Vistara has become a pain lately.
 
I talked to my Burgundy RM recently seeking updates regarding the Burgundy Magnus card. He's as clueless as we are about when we'd be getting the new card delivered. He said he'll keep me posted. Other Burgundy account holders are also seeking the same information.
 
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